Personal Daily Loss Limit
A Personal Daily Loss Limit is a risk management tool that allows traders to minimize losses incurred during a trading day.
Last updated
A Personal Daily Loss Limit is a risk management tool that allows traders to minimize losses incurred during a trading day.
Last updated
A Personal Daily Loss Limit acts as a risk management tool for traders, defining the maximum allowable financial loss within a single trading day. This predetermined threshold serves to protect the trader's capital from significant downturns in market conditions, ensuring effective risk management and maintaining trading discipline.
Apply a personal daily loss limit (PDLL) on net profit and loss calculated in real-time. To enable the PDLL, you must enter a Personal Daily Loss Limit (PDLL) value and then select a PDLL Action:
If Do Nothing is selected, then the PDLL functionality is disabled.
If Liquidate is selected, then upon reaching the PDLL, all positions in the account will be liquidated. The action will then be reset to Do Nothing.
If Liquidate and Block is selected, then upon reaching the PDLL, all positions in the account will be liquidated, and the account will be blocked from trading until the next trading day.
When the PDLL is correctly enabled, the DLL gauge in your header will be replaced by a PDLL gauge. This gauge will move in relation to your net profit and loss to help you track your daily performance in relation to your personalized daily loss limit.
