Trade Panel - risk manager

How to set up a risk manager in Trade Panel?

Go to the risk management panel. Select the account parameter you want to monitor and go to its settings:

Select the checkbox for the action to be performed when the condition is triggered:

1. Display a message on the chart.
2. Send a notification to the mobile terminal (smartphone).
3. Send a message by email.
4. Close all positions in the trading account.
5. Delete all pending orders in the trading account.
6. Lock all positions in the trading account (open additional opposite positions that will equalize the volumes of Sell and Buy positions).
7. Close the terminal and prevent it from opening until the next date.
8. Perform all actions and disable this condition (apply all actions only once).

Exit the settings, enter the desired value in the field, and enable the condition that TradePanel will track.

For example, we selected the activation conditions "Maximum daily loss -$200." For this condition, we selected sending a notification to a phone and closing all orders and positions.

Based on these settings, TradePanel will track your daily losses. Once this amount reaches -$200, TradePanel will send a notification to your phone and close all current orders and positions. All subsequent orders and positions open until the end of the current day will also be closed.

But there's a problem here: no one can stop you from disabling this feature and continuing to trade.

This problem can be solved, for example, in the following way:

Install TradePanel on your VPS and configure the settings described above. Then log out of the VPS and make it inaccessible to you (for example, ask a loved one to change the VPS password and not share it with you).

Now, once your daily losses reach -$200, all further trading for the rest of the day will become pointless, as all subsequent orders you open will be immediately closed by TradePanel. You won't be able to disable TradePanel, as you won't have access to the VPS.

If you are an investor, you can similarly control your traders, whom you have entrusted to manage your funds.

There's also another solution to this problem: enable the "close terminal until next date" feature. This option will send a notification to your phone when your loss reaches -$200, closing all current orders and positions, and closing the terminal. You won't be able to open the terminal until the next date, as TradePanel will immediately close it every time you launch it.