trading lock out function

Discussion in 'Trading' started by Jdesey, Apr 22, 2025 at 3:41 PM.

  1. Bad_Badness

    Bad_Badness

    Just a note to the OP.

    Look at the trade data. Just like trades or sequence of trades in day, the results tell you about how your system is working on that day.

    So if your trading is going well and you are in your daily target ZONE, then look at what moves you OUT of the ZONE.

    Consider, that since you have some trades done, time has elapsed. Thus, the market has done a lot of what it will do that day and you were on it, making money. But it might not be the SAME market as earlier in the day, hence the system performance will change. (over simplification here)

    Consider:
    • Big Players moves are "exhausted" after the big moves you made $$ on.
    • PM session has ALL the data of the AM session.
    • Everyone needs a break, even Algos, in the sense they strike when the conditions are ripe and sit on the sidelines when not.
    • Your entries might be OK but not optimal, likewise for your exits. Adjust accordingly based on the trade history, CURRENT volatility and time of day.
    There is a reason why some only trade the AM session, and/or people look at the performance of the last trade or two when deciding to put on another trade.

    Bottom line: If you are in sync, stay in sync but if you are not, get in sync or wait to get in sync. Markets trend or chop and it is only a matter of degree.

    Lastly, this is advanced trading where you have mastered many things. But you STILL need to be constantly adapting, even within the day.

    Hope that helps.
     
  2. MarkBrown

    MarkBrown

    often in the morning i make a ton, then i go and experiment the rest of the day - over and over and over..

    had to get rid of my "bently" once - watch the des gang crawl out of the woodwork.
     
  3. Handle123

    Handle123

    My automation caps at points but also caps drawdown of each pattern. So if have 6 patterns, each one trades as by itself.
     
    MarkBrown likes this.
  4. Handle123

    Handle123

    My stats shows first 2.5 hours I should nail down profits, and after 2.5 hours percentages comes down to coin flip.
     
    MarkBrown likes this.
  5. maxinger

    maxinger


    Do you intend to fix your root of the root cause (ie your right brain problem)?
    Or you intent to ignore the psychological / mind problem forever and ever?

    Even if you can find the Platform disable function, you have 1000 other
    psychological / mind problems to address.

    Trading involves 3Ms mind, method, money management.
    You can't trade with 2Ms

    What happens if you haven't hit your goal for the day?
    Will you continue to trade and trade and trade and trade until you hit your goal or
    you account is zero?
     
    Last edited: Apr 22, 2025 at 7:43 PM
  6. A lockout functionality is a tool. Those who don't think that's a good idea must be the same people who didn't see the reason why they'd buy a car when a horse and cart worked just great! LOL.

    With TopstepX you can lock yourself out completely for the remainder of the day and even remainder of the week at YOUR discretion. You can also pre-program it to lock yourself out when you hit a pre-determined daily loss limit or a certain profit target. Personally, I've used it when I've been massively up on the day, so those who thinks of it as a way to cap upside got it wrong.

    You can also choose to give yourself a 15 minute time-out where you can calm your senses. This can be easier said than done if you start TILTING.

    You can also program it to lock yourself out at an X % drawdown from equity highs. For example, let's say you're up $1K on the day. You can program it to lock yourself out on a 50 % drawdown down to $500.

    That way you're guaranteed to not let a winning day go red. Something I'm sure nobody in this thread ever experienced. LOL.

    Buy why bother, right? If the horse and the cart works for you, stick with it. Haha...

    But this is TopstepX with a bucket shop. I don't know if any broker offer anything similar, but I'd definitely be interested if so.
     
    Picaso likes this.
  7. I just used the lockout functionality with TopstepX. I gave myself one hour of probation, but will probably extend it to two hours.

    Why?

    I took two short trades (ES) in succession that didn't work out and I'm not going to chase the long side either at this point. Also, I'm pre-occupied with something else, so it's better to wait for the RTH session now.

    If I didn't - who knows? Maybe I'd be tempted to do another trade. Maybe I'd even short this for another loss.

    upload_2025-4-23_12-54-59.png

    Traders who work in a corporate setting will often have a risk manager or other traders who will look over their shoulders making them accountable. As retail traders we lack that. I feel the lockout functionality is something which can facilitate a risk manager role and protect ourselves against our monkey brain.
     
    Picaso likes this.
  8. Used it again after recovering. This time locking out for the entire day.

    Rationale: The market (ES) is currently moving $4000 in seconds per contract and it's very easy to get REKT just by chance. The market (S&P) is up 3.46 % on the high print already, so it's not a great R/R at this point, nor do I like the short side as I "know" today will close green.

    Live to fight another day.

    upload_2025-4-23_16-7-19.png

    PS: We still haven't identified a broker who delivers this functionality which is what the OP was asking.
     
    Bad_Badness and Picaso like this.
  9. hilmy83

    hilmy83

    Quantower has lock feature

    upload_2025-4-24_22-11-4.png