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Broker enforced risk parameters


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Broker enforced risk parameters

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 Arch 
W.Coast, USA.
 
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I'm looking for trader defined risk parameters hosted at the FCM, data feed, or exchange level. Examples are daily loss limit, minimum account balance, dynamic position size limits relative to account size, and auto-liquidate (close all positions and cancel all pending orders) based on other trader defined triggers.

Does CQG support this? Are these only supported on Rithmic? Are there any brokers/FCM that support this at the exchange level regardless of data feed?

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 mwf2220 
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Arch View Post
I'm looking for trader defined risk parameters hosted at the FCM, data feed, or exchange level. Examples are daily loss limit, minimum account balance, dynamic position size limits relative to account size, and auto-liquidate (close all positions and cancel all pending orders) based on other trader defined triggers.

Does CQG support this? Are these only supported on Rithmic? Are there any brokers/FCM that support this at the exchange level regardless of data feed?

Hi @Arch, have you tried NinjaTrader? They seem to have some of what you are looking for. Screenshot of my account page below:



Hope this helps.

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 SMCJB 
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I think you'll find that is limited to the 'software level' and not the FCM or exchange level.

In response to the OP I suspect the answer is no. It's probably too complicated with too many potential mishaps. If your trading 1 lot of MES you may think what's complicated but there's a lot of people who aren't trading like that. Imagine I buy 10 Jan Heat-Crude cracks on software A. But using software B I also bought 5 Jan-Feb Crude spreads and 5 Jan WTI-Brent. Hence my position is actually +10 HO_F3, -5 BZ_F3 and -5 CL_G4. How would any software a/ know that and b/ liquidate that position?

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 Arch 
W.Coast, USA.
 
Experience: Intermediate
Platform: Anything
Trading: Emini
Posts: 347 since Jul 2017
Thanks Given: 106
Thanks Received: 381


mwf2220 View Post
Hi @Arch, have you tried NinjaTrader? They seem to have some of what you are looking for. Screenshot of my account page below:



Hope this helps.

This could convince me to use NinjaTrader if the settings are server side, even on NinjaTrader owned servers. The feature I need is risk parameter persistence (server level) in the event of client side network disruptions. This could be at data feed level (Rithmic seems to be the only one), Introducing Broker Level (does anyone know of any?), or FCM level (do they accept clients calling in or customizing via dashboard risk parameters?)


SMCJB View Post
I think you'll find that is limited to the 'software level' and not the FCM or exchange level.

In response to the OP I suspect the answer is no. It's probably too complicated with too many potential mishaps. If your trading 1 lot of MES you may think what's complicated but there's a lot of people who aren't trading like that. Imagine I buy 10 Jan Heat-Crude cracks on software A. But using software B I also bought 5 Jan-Feb Crude spreads and 5 Jan WTI-Brent. Hence my position is actually +10 HO_F3, -5 BZ_F3 and -5 CL_G4. How would any software a/ know that and b/ liquidate that position?

Rithmic could know if it allows multiple connections (I don't know if it does), but on a single connection, this scenario could seem possible on different contracts. For screenshots and info, see https://community.optimusfutures.com/t/risk-parameters-set-by-trader/4584/9 and https://community.optimusfutures.com/t/risk-parameters-controlled-by-self-directed-futures-traders/4618

What I am asking for, I believe, is critical for every trader. I am genuinely surprised and concerned if this isn't readily available by any aforementioned provider category (IB, FCM, Data/order routing feed).

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Last Updated on January 2, 2023


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