Daily loss limits

Your daily max loss is the most you're willing to lose on an account in one day. When the account gets there, Risk Manager cancels your working orders, closes your open positions and blocks new orders until the daily reset. You don't have to be at the screen, as long as Tradrr is open.

Set a daily max loss

1. Open Risk Manager from the + menu.
2. Click the Daily loss cell on the account row.
3. Type the amount in the account currency as a positive number, like 500, and press Enter.
4. Tick Enabled on the row if Risk Manager isn't on yet.

The amount has to be above zero. Clear the cell to remove the limit.

How the loss is measured

Risk Manager watches the account's profit and loss live. By default it counts realized and unrealized together, after commission. That's the NET T/PL number in the Accounts window. An open position that's underwater counts, even before you close it.

With a daily max loss of 500, the lock starts when NET T/PL hits -500 or lower.

What you see on the way

What happens at the limit

1. Risk Manager cancels all working orders on the account and checks that none are left.
2. It closes every open position on the account.
3. New orders get rejected with Daily max loss lock. You can still cancel orders and close positions.
4. The lock stays until the next daily reset.

The lock doesn't lift if your loss shrinks. You also can't turn Risk Manager off on that account while it's active.

The daily reset

By default the reset is at 5:00 PM Eastern. Breach at 11:00 AM Eastern and the lock clears at 5:00 PM Eastern the same day. Breach after 5:00 PM Eastern and it lasts until 5:00 PM the next day. End Session in the lockout column uses the same reset time. See Lockout modes.

The reset also ends the Risk settings lock that starts with your first fill.

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