Force risk Management and Rule following down the indisciplinated trader's throat
Force risk Management and Rule following down the indisciplinated trader's throat
09 Oct 2021, 01:15
Some platforms have Risk Management tools to help avoid common trading mistakes like overtrading or over-leveraged trading
What i suggest is implementing a tool where the trader can set daily rules, and once its activated the platform blocks or imediatly closes all trades places after those rules are breached, with the option to lock the parameters alteration for a set of time to prevent manipulation. Eg.: Max. number of simultaneous open positions, max number of trades in a day, max daily loss or drawdown, target profit, forbiden instruments, max lot volume, min lot volume.