This is my gripe about every platform I've ever traded on:
Risk constraints
First of all, it would be great if I had as much discipline as my computer but I don't. Second, it would be great if I could program Tradestation to trade the exact setups I want it to, and when I want it to, but I can't.
Therefore, is there any way you can add risk constraints into NT? For example, I'd like to be able to put a limit in NT on how much I can lose per trade and how much I can lose per day and how many contracts I can trade per instrument.
Right now I have two different limitations on my account through my broker. The first one is a limitation on how many contracts I can be in at one time. The problem with this is that different contracts are valued differently. For example, the CME British Pound is valued at $6.25 whereas the CME Euro is valued at $12.50. What is really needed is a limitation on contracts specific to the instrument being traded.
Maybe you could add a field in the Instrument Manager where the trader can specify the max number of contracts allowed per instrument.
The second limitation on my account is the max amount I can lose in a single day. However, this limit only goes into effect after you close out your last losing trade. Therefore, you could go way past your limit for the day. In addition, this does nothing to limit your max loss per trade.
Call me weak, call me undisciplined, call me a *****, call me whatever you like but these are issues I'd rather have the software handle for me.
Thanks.
Risk constraints
First of all, it would be great if I had as much discipline as my computer but I don't. Second, it would be great if I could program Tradestation to trade the exact setups I want it to, and when I want it to, but I can't.
Therefore, is there any way you can add risk constraints into NT? For example, I'd like to be able to put a limit in NT on how much I can lose per trade and how much I can lose per day and how many contracts I can trade per instrument.
Right now I have two different limitations on my account through my broker. The first one is a limitation on how many contracts I can be in at one time. The problem with this is that different contracts are valued differently. For example, the CME British Pound is valued at $6.25 whereas the CME Euro is valued at $12.50. What is really needed is a limitation on contracts specific to the instrument being traded.
Maybe you could add a field in the Instrument Manager where the trader can specify the max number of contracts allowed per instrument.
The second limitation on my account is the max amount I can lose in a single day. However, this limit only goes into effect after you close out your last losing trade. Therefore, you could go way past your limit for the day. In addition, this does nothing to limit your max loss per trade.
Call me weak, call me undisciplined, call me a *****, call me whatever you like but these are issues I'd rather have the software handle for me.
Thanks.
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