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Direct MessagesDate/Time: Sat, 18 May 2024 15:25:29 +0000
Issue with Daily Net Loss Settings Not Functioning Properly
View Count: 80
| [2024-05-01 17:10:53] |
| H3R000 - Posts: 7 |
|
Hello, I'm experiencing an issue with setting up the Daily Net Loss in Sierra Chart. In Global Profit/Loss Management, I checked the "Flatten Positions When Loss Rules Met" and entered a value in the "Loss Trigger Value." I also checked "Lock Trading" for the day and tried using "Lock After Positions Flattened," but none of these settings seem to work as I can still trade even after exceeding the set loss limit. In the Daily Net Loss Management window, I see the status "Positions flattened for today because Daily Loss met. Feature disabled until next trading day in Futures," yet my positions were not closed, and I can still trade. I also tried to adjust settings through the Trade Account Monitor, but my account doesn’t appear there. I have an account with IBKR. I've connected TWS and SC according to the instructions, and in the data/trade service settings, I selected "Allow Support For Sierra Chart Data Feed." Nothing appears under Trade Positions, although I can see Trade Orders. I am attaching screenshots for your reference. |
Private File Private File Private File |
| [2024-05-01 18:59:59] |
| John - SC Support - Posts: 31704 |
|
Everything in your setup for the "Global Profit/Loss Management" looks correct. Were the settings in the image the way they were when the loss trigger was met? The settings will only apply at the time of the trigger. The one thing we see is that the "Remaining Lock Time" shows 0s, which means that the lock has been "undone", which is why you are able to continue trading. You will not be able to make any changes to your Interactive Brokers account through the "Trade Account Monitor". But you should see the primary account associated with your Interactive Brokers account on that window. We can not speak to the Positions and Orders windows, as it depends on whether you have positions open or not and whether you have working orders or not. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-05-01 20:08:10] |
| H3R000 - Posts: 7 |
|
Thank you for your response, but unfortunately, the issue persists. I've tested the Daily Net Loss settings on a simulated account where everything functions as expected: positions are automatically closed, trading is blocked, and the "Remaining Lock Time" shows 11h in Global Profit/Loss Management. However, these settings do not seem to work on my real IBKR account. As for the Trade Account Monitor, I've corrected the account filter settings, and now my account displays correctly. Initially, I wanted to set the Daily Net Loss limit as demonstrated in your "Server Side User Profit/Loss Management" YouTube tutorial, but I realize now, as you mentioned, that changes to my Interactive Brokers account cannot be made from this level. What steps should I take next to resolve this issue so that the Daily Net Loss settings apply correctly during real account trading? |
| [2024-05-01 21:12:12] |
| John - SC Support - Posts: 31704 |
|
The only item that we would say to double-check is the Account listed at the top, but it looks like this is set correctly. Everything should work as you have seen in Simulation Mode. We recommend adding the "Trading Profit Management Status" study to your charts, as this will give you the information that is in the "Status" area of the Global Profit/Loss Management window, so you can see how this is related to your trading at any time without having to go to another area. Refer to the following: Trading Profit Management Status Also, if you do encounter an issue with this, check the "Trade >> Trade Service Log" and your Message Log and see if there is any information in there on why there may have been an issue. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2024-05-02 15:51:29] |
| H3R000 - Posts: 7 |
|
Thank you. The 'Trading Profit Management Status' study only deals with Profit Management, not Loss Management. I managed to activate the Lock Trading on Real Account in a roundabout way by switching to a SIM account, adjusting the Loss Trigger Value, and then switching back to my Real Account. This triggered the lock, but it’s not supposed to work like that. Today, when testing on a SIM account, the lock activated, but changing the Lock Time In Minutes to just 1 minute bypasses the lock, which doesn't make much sense. Now, to reactivate the lock, I have to change the Loss Trigger Value again. I've just wanted to report that the Loss Management isn't functioning properly. |
| [2024-05-02 17:04:25] |
| John - SC Support - Posts: 31704 |
|
You can override the "Global Profit/Loss Management". It is not an absolute. But you should not be having issues with the general functioning of the flatten and lock when your loss trigger is hit. Again, if this is not working at the time when it should, then check your Trade Service Log and the Message Log and see if there are any messages related to this that might explain why it did not kick in. As to the "Trading Profit Management Study", we apologize for giving the wrong information. We forgot that it only did the profit side. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
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