Profit Loss Management Request

scottbonerigo

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May 23, 2020
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Hi I was wondering if I could request that a profit loss management module be developed for the software similar to how sierra charts works. There is a feature in that platform that automatically closes positions after a certain profit or loss threshold is hit for the day that is set by a user. Also I believe it has a max contracts allowed setting as well which would be awesome. I can provide more detail if needed.

Thanks!
 

MotiveWave_Joe

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Mar 26, 2019
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Hi,

Thank you for the feedback. This has been added to our feature request list.
 

amdr

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Jul 7, 2020
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@scottbonerigo Try using Exit Strategy to manage risk and position size. You can do it fixed amount or percent of buying power. I believe it will be more fluid managing stop and profit taking on multiple positions then hard closing of position if day is going red.
 

djacobs

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Nov 17, 2020
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I came here looking for the same feature as I am trying to create a similar setup to Sierrachart, and Motivewave does not have a way to limit the amount of outstanding contracts via software. The exit strategies can only close a trade by percentage or dollar basis, nothing about per contract opening. It would be easy to implement. Thanks
 

pomer

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Aug 26, 2023
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Yes, DAS Pro has a feature that locks your account after hitting max loss for the day. It is one of the main reason for me using das currently. They also have outstanding scripts for trade management. If Motivewave had same feature, that locked the account and the user was not able to change it during that trade period, until it expires, that would be great. Usually you can set the max loss for a specified date, and it is locked. even the user can't modify it. It is a great feature, cause it limits the big losing days. Lastly, it auto stops all positions, once your max loss is reached, realized, and unrealized.
 
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