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AMP Futures unable to set risk limits in TT Platform


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AMP Futures unable to set risk limits in TT Platform

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  #1 (permalink)
Sheen
London UK
 
 
Posts: 57 since Jul 2013
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AMP Futures was unable to set max position size and auto-liquidation based on daily loss dollar amount in my account with TT Platform as the front-end. Is there any other broker with similar offer in terms of commission rates and required deposits and margins that can set these limits?

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 mattz   is a Vendor
 
 
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Sheen View Post
AMP Futures was unable to set max position size and auto-liquidation based on daily loss dollar amount in my account with TT Platform as the front-end. Is there any other broker with similar offer in terms of commission rates and required deposits and margins that can set these limits?

I am not sure it is an AMP limitation, rather the risk management behind TT that does not allow it.
There are many limitations to auto liquidations, such as misquotes, etc.
Also, auto liquidation means cancelling all orders on all instruments, and its not an easy task.
My suggestion is to explore other risk management tools like not being able to add positions beyond a certain loss, etc.
We clear via AMP as well, so we can advise you as far as risk management on each data feed.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #4 (permalink)
Sheen
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An email from TT:
"The TT platform does have the capability of setting max positions for particular products and contracts, however these configurations are set by the clearing firm not here at TT. The auto-liquidation can be set to a percentage of a fixed dollar amount. An example of this would be a 50% loss on a fixed daily credit limit of 2000 would always liquidate at 1000.

As I mentioned, account configurations including both limits and auto-liquidation are decisions made and set at the clearing firm. If there are any other questions feel free to let us know.

Regards,
Mike".

I reckon it is AMP's inadequate risk management procedures that are behind this. Are such features available in X_Trader?

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 mattz   is a Vendor
 
 
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Upon speaking with my trade desk rep at AMP, I can confirm that NEW TT has the ability to set contract limits and custom % daily loss liquidation triggers per account.
If you need my assistance, PM me.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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Sheen
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mattz View Post
Upon speaking with my trade desk rep at AMP, I can confirm that NEW TT has the ability to set contract limits and custom % daily loss liquidation triggers per account.
If you need my assistance, PM me.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

" AMP | Trade Desk | Brian (AMP)

Sep 15, 2:13 PM CST

There is no timetable on when we will be able for max position setups on TT The liquidation would be based on a percentage on the starting balance but depending on your cash that percentage would have to be changed on a daily basis so that really wont work out."

I am confused - who is right?

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 mattz   is a Vendor
 
 
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Sheen View Post
" AMP | Trade Desk | Brian (AMP)

Sep 15, 2:13 PM CST

There is no timetable on when we will be able for max position setups on TT The liquidation would be based on a percentage on the starting balance but depending on your cash that percentage would have to be changed on a daily basis so that really wont work out."

I am confused - who is right?

Edit: What Brian was referring to is X Trader, not the New TT. The New TT does have it.
I truly think that for the longest time traders refer to x Trader as TT.

TT is the new name for the web based platform, so to be specific say "TT Web" or "New TT".




Matt Z
Optimus Futures

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Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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 TradingTech 
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Thanks to @mattz for clarifying much of this. I have a response from our product team here at Trading Technologies (TT). If you have any further questions, please call me out, @patrickrooney, in the post and I'll happily respond.

"Within TT, it is possible to configure, both, max position sizes at various levels, as well as auto-liquidation based on daily loss dollar amounts. Whether or not a clearing firm chooses to configure these is up to them, and it is possible that these could conflict with their own risk management settings (e.g., they might already be applying auto-liquidation to a trading account, based on their own daily limits). That said, TT is happy to work with our FCM partners to assist them in setting these controls. Additionally, we will look to add future functionality that makes it easier for traders to configure their own risk controls, in addition to those set by their administrator(s). "

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Sheen
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patrickrooney View Post
Thanks to @mattz for clarifying much of this. I have a response from our product team here at Trading Technologies (TT). If you have any further questions, please call me out, @patrickrooney, in the post and I'll happily respond.

"Within TT, it is possible to configure, both, max position sizes at various levels, as well as auto-liquidation based on daily loss dollar amounts. Whether or not a clearing firm chooses to configure these is up to them, and it is possible that these could conflict with their own risk management settings (e.g., they might already be applying auto-liquidation to a trading account, based on their own daily limits). That said, TT is happy to work with our FCM partners to assist them in setting these controls. Additionally, we will look to add future functionality that makes it easier for traders to configure their own risk controls, in addition to those set by their administrator(s). "

This means the issue here is AMP choosing not to implement such risk limits for its customers, not the technology itself. It's a shame they do not offer such basic risk management solutions.

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 Malvolio 
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Sheen View Post
AMP Futures was unable to set max position size and auto-liquidation based on daily loss dollar amount in my account with TT Platform as the front-end. Is there any other broker with similar offer in terms of commission rates and required deposits and margins that can set these limits?

Hi, you could consider Advantage Futures. They set max position size to my account. If you have any question, you can write me a PM.

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