Date/Time: Wed, 04 Oct 2023 14:38:01 +0000
Teton Risk Question
View Count: 305
|User900285 - Posts: 75|
I'm just reading over some of the information for the Auto Liquidation features of Teton Order Routing. From what I understand, there is only one level at which the Daily Net Loss Limit can be set which will trigger 1. Liquidation Only Mode or 2. Auto Liquidation Mode, or both. I was wondering if it could be supported to allow clearing firms to configure separate levels for those two events to occur.
For example the clearing firm could set the Auto Liquidation to occur if the account reaches a loss of 70% of the account value. This is in the best interest of the clearing firm to always have enabled. However the client could request for their account to be put into Liquidation Only Mode well before that 70% loss limit is reached. They could request a 5% Daily Net Loss Limit for their account to be put into Liquidation Only mode. The reason for this is that the trader may not want their trades to be liquidated at the lower 5% level but they do want to be put into Liquidation Only Mode.
Date Time Of Last Edit: 2023-05-29 18:20:33
|Sierra_Chart Engineering - Posts: 10591|
No this is not supported:
I was wondering if it could be supported to allow clearing firms to configure separate levels for those two events to occur.
But we will be adding user controllable Daily Profit/Loss settings for Teton and we will keep this in mind for that.
Sierra Chart Support - Engineering Level
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Date Time Of Last Edit: 2023-05-31 09:36:07
|User61168 - Posts: 153|
Thanks for adding user controllable settings. I am waiting patiently to see these added to Teton. It would be extremely beneficial especially if they are 100% server-based with no dependency on data feed or connectivity to SC platform.
Here's my bucket list of features:
1) Account level daily max profit and loss settings based on $ amount and Account %
2) Optionally, to LOCK trading until end of session if any of the daily profit loss conditions are met
3) Definition of "end of Day" should be configurable to include a) Calendar day (midnight ET to midnight ET), b) End of current session
4) Please please please... put a password protection on these settings to prevent an Un-desciplined trader to frequently make changes at will. . They can give password to a spouse or a friend or a professional risk manager!
5) For aggressive traders wanting to implement advanced MM techniques, have a server-based setting to auto-liquidate all open positions and prevent a margin call to avoid those nasty broker fees associated with auto-liquidations. This will be a huge benefit to all traders.
6) Allow access to these settings via Web Panel for mobile traders.
|User305661 - Posts: 8|
I agree with User61168
1 - yes both options $ and %
2 - a must have option because i noticed testing the risk management in the teton eval, and you can go in and change the values once a max profit/loss is met and continue trading
3 - yes, because amp fees come out in the middle of the night and would mess up the % values
4 - instead of a password, you could make it an option to have to wait x amount of days before settings can be changed. so if user put 30... you can only change your risk settings after 30 days have passed. and have it show when time remaining until it can be changed again
and a new idea 7 would be able to lock what side of trade you can trade. (able to short = Y/N able to long = Y/N)
like for me. bad things happen when i short... so maybe make it so i can NEVER short and not allow me to
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