Is Buttontrader the only software that handles risk management settings (max loss per trade, max loss per day)? Is there any other alternative if one is just looking for this feature and is happy with tws entry?
As far as I can tell ... IB does not have this feature ... oh yes ... you can limit your risk as far as entry price goes ( in case of typo ) but not losses unless you get liquidated ? hoping I am wrong on this ...
I wonder if this kind of setting really works. Couldnt you just bypass buttontrader or any other program if you really wanted to? It would be nice if some broker would put this feature in so it would shut down for the day if you reached some limit that you set. Doubt if it will ever happen tho.
I'm guessing they wouldn't want to implement anything which would prevent you from generating more tickets
These settings work insofar, as ButtonTrader will "refuse" to let you trade. Of course you may simply change your settings as to make them useless or use TWS itself. There is no replacement for traders' discipline! In my opinion the most important of all settings is "max loss per day". Some of the settings may be used to implement techniques of risk-controL, like limiting your number of open positions etc. Have a nice day Bernd Kuerbs