Hello I would like to know if the Daily Loss Threshold is fixed or does it follow the gain we make?
Let me explain, if I set a daily loss at 300 USD, I gain 500USD. Will my Daily loss Threshold be still at -300USD or does it moved to +200USD (500 new balance-300 daily stop)
Also referring the message below, you mentioned, you didn't do all test on tradovate but is rithmic fully operational?
Thank you
Hello afflammarenc,
Thanks for reaching out!
Please note that the daily loss threshold is independent of any gains. For example, if your daily loss threshold is set at -300 USD and you realize a gain of 500 USD, the threshold will only be activated if subsequent losses of 800 USD reduce your net account Total PNL for that day to -300 USD. Once reached, the threshold will trigger an exit of all orders and positions associated with that account and will block further trading until the next trading day.
Regarding the subsequent message, I intended to clarify that this add-on was not developed for the Tradovate browser; it was created exclusively for NinjaTrader. It will only operate on Tradovate if the user maintains an active NinjaTrader session connected to the Tradovate account. I have not tested it with Rithmic; however, if you connect your Rithmic account through NinjaTrader and trade using its (NinjaTrader's) interface, the add-on should function as intended.
What you suggest sounds to me like a drawdown or just a flat loss, not a total account daily PNL loss.
I might implement something like that in the future if it seems like something the community wants for sure!
Let me know if that's something you're interested in and i will put it in my TODO list.
Best,
Aviram
One more thing I noticed is when you use a hot key market entry for example it bypasses the block enters in an order and the stop loss and take profit disappears but then does not allow you to close the position. I always test on a sim but as you can imagine this could be quite bad. If you could add the block to the hot key entries that would be best but if you could add a hard close button that would also be good. As long as you can get out of a position that was in error. Thanks for all your work, and despite this still a great tool!
This also seems to be the case for hot key market buys/sells, when daily profit target is hit it deletes the ATM brackets and locks you out because the threshold was met but doesn't close the position at daily profit target. You can hit close and it will close the position but if it was a yoink down and back up you loose some of the profits and get locked out.
