- Feb 10 How to control losses in Trading?
- Trick to control daily losses
- Control losses in Trading with Rithmic
- Do you want to earn money from home?
Feb 10 How to control losses in Trading?
I always say it, you have to cut your losses! Of course you have to make a profit but you have to cut your losses and how control losses in trading?
Trick to control daily losses
We know that eliminating waste is not as easy as cutting an onion in half. It is easy to say what we have to do but it is very difficult to always do it.
Not every day we are so consistent and so effective or efficient. Losses have to be cut but you have to know that it is not always in our hands to be able to cut or eliminate those losses.
If you are one of those people who is not able to get up and go I will give you solutions and one of them for the people you work with funding companies the Rithmic platform can limit the maximum loss you can have in a day.
Yes, a maximum loss that is below the maximum daily loss that the financing company establishes for us in principle.
Control losses in Trading with Rithmic
Open the Rithmic or Ritmic Pro platform
In either case this works trick that today I am going to teach you
- Click the trading dashboard
- Regardless of the funding company you are with, you have to click where the name of the account is
- Risk parameters
- You will find all the fields empty, what can you do? I’ll explain it below
What to do with the risk parameters?
- Establish from what time to what time you want it to work depending on the financial instrument and even self-settle us from one hour.
- In the “liquidate” tab we give “Enabled”
- In the “Criteria” tab we can select up to 5 different ones, of which we will choose the “loss limit”
- In the next tab we will establish the daily loss based on your system
- We click on “apply” in the tab below
Loss limit is not exact
You have to know that this limit is not exact. You are not going to close with the round amount that you set in the tool, it is possible that you close with some point above. Also, if there is a lot of volatility you will close worse. Therefore, do not put a loss limit very close to the loss limit that the funding company gives us.
Stop loss allows you to continue executing trades
Another thing that you have to know apart from the loss limit is that once that loss limit occurs you can continue executing trades but Rithmic will close you immediately, therefore you will be generating commissions.
Extend the loss limit
You can extend the loss limit, for example, from 500 to 700, that is, you can lose 200 more dollars but you have to know that the one that closes the trading operations is Rithmic. You can be operating from Ninja and the operations are going to be closed with an external program.
This is all very well to avoid a crazy day or a possible mistake. This is just a help, I hope it helps you. It is not the solution to everything but at least the errors will be reduced
Do you want to earn money from home?
I hope you liked this video and you know, if you are not profitable with one account you will not be profitable with 5, so be very careful and risk management.
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