The Daily Risk Lock feature allows traders to lock their Personal Daily Loss Limit, Personal Daily Profit Target, and Trade Limits for the rest of the trading day. Once locked, these settings cannot be adjusted until they automatically unlock at 5:00 PM CT.
How does this feature work?
Setting Up
First, you'll have to set your Personal Daily Loss Limit, Personal Daily Profit Target, and Trade Limits for the day. Make sure you click save once you've completed this step.
Once set, press the Lock Risk Settings button to enforce these limits for the rest of the trading day. Confirm you want to proceed with your changes.
You'll see a confirmation once complete, along with a timer letting you know when your Rick Lock Settings will unlock.
Unlocking
Locked settings automatically unlock at 5:00 PM CT to start the next trading day.
To use the feature the next day, you must manually lock your settings again.
How does this feature benefit traders?
Prevents Emotional Decisions: You cannot increase or decrease your risk settings mid-day, which helps you avoid emotional decisions.
Encourages Discipline: This setting forces you to commit to your plans and risk management strategies regardless of how the day unfolds.
Controlled Control: Each day is a fresh start! You can revise and adjust your settings before locking them again for the next session.
Best Practices for Using The Daily Risk Lock Settings
Set It Early: Lock your settings before trading begins to ensure you’re fully protected.
Review Daily: Take time each evening or morning to assess whether your Personal Daily Loss Limit, Personal Daily Profit Target, and Trade Limits align with your current strategy.
Commit to Discipline: Use this feature as a tool to build the habits of a professional trader.