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Direct MessagesDate/Time: Sat, 18 May 2024 12:47:26 +0000
Risk manager
View Count: 3255
| [2018-02-07 13:51:10] |
| Napoleon Dynamite3 - Posts: 29 |
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Hello, are there free or paid add-ons for SC acting as Risk Manager out there ? For all, it can be a an invaluable tool to enforce consistancy through discipline as well as give some of the algo world’s benefits some more challenge through tighter competition Some look-a-like drafts https://www.mql5.com/en/market/product/11678 https://www.mql5.com/en/market/product/12390 Bascially, we would be looking for : ——- * max orders, global (platform) across all charts default: max overall exposure notional / max leverage * max orders per side on a single instrument = anti-grid / averaging down protection * max trades lost per day * max consecutive trades lost * max daily loss * max weekly loss * max daily win * max weekly win Possible options to apply to these trading restrictions: * losses set in cash (€) or in % of the account equity * losses taken into account since the beginning of the day (/ week), or since the highest equity peak reached during the day (/ week) (protection against letting go the gains of a good day) * stop trading until the next day session, or after a period of cool down fixed by time (X minutes) * if several consecutive days reach any of the mentionned limits (trading suspended), then force an extended cool down period (Y days) * ways to finish a trading day: close the current opened trades and all pending orders as soon as the thresholds €/% are achieved (global forced immediate closure, no discussion) ... or, wait for open trades to be manually closed / or that they reach their set profit targets/stoplosses (then prevent firther trading, not before) * Automatic closure of the platform, after x seconds (observation time of the slaughter) Impossibility to reopen or reuse the platform until the punition time ellapsed * option to toggle the consideration of trading costs (commissions, slippage, rollover) for the calculus of losses and the distinction of losing/winning trades Tyrannical bonuses : * impossibility to remove a stoploss order, * impossibility to lower a stoploss, only move it up Extra features : * ability to let the power to feed the parameters to a third party person remotely, instead of having the keys yourself (which lifts most of the restriction benefits when you have control) Or at least, that this tool can be installed on a remote machine (VPS) which the access is difficult, yet controlling your main instance over the internet * have a live counter as text info on chart, or as called pop-up somehow, of the evolution of the metrics acting as follow-up, like Max global trades : x/y (where x = live count, y = limit) Max trades per side : x/y Max trades per day : x/y Max losses per day : x/y Max consecutive losses : x/y Max daily loss : x%/y% Max weekly loss : x%/y% Max daily win : x%/y% Max weekly win : x%/y% ——— Thanks for your attention. If any such developpement can be considered, let me know. I’d have access to a potential customers base to promote openly as best effort Date Time Of Last Edit: 2018-02-09 09:20:29
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| [2018-02-07 18:40:39] |
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The only help we can provide is to let you know that this functionality is available: Global Profit/Loss Management This is all. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-02-07 22:20:20] |
| Napoleon Dynamite3 - Posts: 29 |
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This is good !
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| [2021-10-25 21:19:14] |
| User200064 - Posts: 30 |
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If the Sierra Chart team implements a risk management functionality like the one described above by Napoleon Dynamite3, it would automatically make it the best platform around. While the current Global Profit Loss Management Tools is useful, it is very basic. Elite traders are not looking for more indicators, they look for tools that will automate optimal decision making. Imagine if Sierra Chart develops an elite Risk Management tool where we can automate certain aspects of our decision making, the news would travel fast and a bunch of traders would migrate to Sierra Chart just to take advantage of this elite tool. Please consider working on this, we would all be grateful! |
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