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Daily loss limit and profit target

Set a loss limit and a profit target for an account's day, what happens when one is hit, and when the account trades again.

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Written by Lars Preben Sørsdahl

Each account can have a Loss limit and a Profit target for the day. When its day reaches either one, the service closes everything on that account, and the account sits out until the next trading day. Both are off until you set them.

Set them

  1. Open the account's settings: press the cog at the top right of the account's page. Pressing its Daily limit on a desktop, or Account limits on a phone, opens them too.

  2. Under Daily limits, switch on Loss limit or Profit target.

  3. Set the amount in dollars with − and +, or type it.

  4. Press SAVE.

The figure judged is the account's day so far, closed and open trades together, and the screen shows it under Today with the room left. On a Simulated connection only closed trades count, because it has no open figures. If today has already reached a bound you set, the screen warns you that saving it locks the account.

Account settings: Loss limit, Profit target and the position cap

When one is hit

  • The service closes every position on the account, including ones you opened yourself, at whatever the market gives. So the day can end beyond the bound.

  • The account shows Locked for today, with the bound that fired and the figure it fired at.

  • Signals for the account are skipped, and Activity says daily limit. You can still flatten.

  • Nothing needs fixing, so it doesn't appear under Needs attention.

When it trades again

The trading day rolls over at 18:00 New York time, when the market reopens after its daily break. Once the broker's figure for the new day is back inside your bounds, the lock lifts by itself and the limits apply again. A lock taken on a Friday lifts for the Sunday evening session. Nothing needs pressing.

Keep your firm's limits too

The service enforces your limits while it is running, and nothing enforces them while it is stopped. Keep your broker's or prop firm's own limits set as well. To cap how many positions an account holds at once, see Position cap.

Still stuck? Press Help in the app: Leeloo, the AI assistant, answers from these articles, and the team is one click away.

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