This thread is intended to discuss trading platforms that offer useful risk management tools in their trading platform. Most I have seen offer nothing. - Screening out erroneous order and price entries according to parameters that you set. - Ability to cap position sizes in each pair. - Ability to suspend trading on a given day if certain drawdown or retracement from high water mark is hit ... things that a real desk would offer their traders to make them perform better. I understand that one can develop their own risk management tools, but it should be built into the trading platform as well. There is a reason why racing cars have a button that the driver can press to keep under the pit speed limit as opposed to making sure they do it manually, etc., etc., etc... Any 3rd part software tips would be helpful too. Thanks.
I agree, but it's not in most bucketshops interest to help a trader control risk, they prefer to offer crazy leverage and help you spend money rather than earn it! There are a lot of EA's available for Metatrader which might perform the above tasks, or if not it's easy enough to get one written.
lol, and now you get an idea of why an alleged 90% lose their shirt Risk and loss are 4-letter words which the inexperienced trader doesn't even want to contemplate. Profit and gain are usually their first thought....