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Abiel

Risk Control Page (DAS Trader Pro)

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In this video AdventureDogLA shows us how to set up Risk Controls in DAS Trader Pro. Risk Controls enforce limitations such as maximum daily loss, maximum shares traded per day, etc.

Risk Control Page is a safety net to keep in control our loses, either to have an external control over our behavior as traders or due to a contingency such as failures in the internet connection, electric power outages, broker failures, etc.

 

You can find "Open Risk Control Page" in DAS Trader Pro Account window, just right-click in any row of that window and Risk Control Page will open as a popup browser window to let you update your risk control settings.

 

Some considerations:

 

1. This configuration works with real accounts and simulator

 

2. You can deactivate settings "Risk Control Page" anytime by leaving all in blanks and clicking SUBMIT

 

3. When you are using DAS linked to IB, or simulator, the Risk Control settings are handled by DAS. DAS staff updates your settings manually (the form is emailed to them) anywhere from 2 to 30 minutes during business hours.

 

4. In LOSS fields, enter a positive number.

 

5. “No new order” avoids orders for the current day

 

6. “Pos Loss” =  Position loss.

 

7. “Enable Auto Stop” will automatically close your positions when you hit the Max Loss / Total Loss.

 

8. “Max Share - Max auto stop execution share per day” = How many shares can be sold / bought by the Auto Stop mechanism.

 

9. “Max Auto Stop Order Size” = Maximum size per order made by the Auto Stop mechanism.

 

10.“Delay for next order if exceed max order size (sec)” =  Time between orders if the Auto Stop needs to place multiple orders to close your positions.

 

11. “Stop Gain Account Net Realized PL Thresh“, “Drawdown Percent of Max Net PL“ , “Pos Stop Gain Thresh “  and “Drawdown” - Like Auto Stop but for gains.  The threshold is the profit the Stop Gain is looking to hit, the Drawdown is how much it can drop from that target before your positions are closed.  Example, you set a threshold of 2000 and drawdown of 20(%).  When you make 2000 in P/L, the Stop Gain will trigger, and will close your positions if you drop 20% ($400) from that value, closing you out at $1600 Net P/L.

 

2018-04-18_1546.png

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Just added some details about Risk Control Page settings in my original post...

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@Abiel I just did my risk control page.  If it's handled by the broker, how does a DAS trader web page go to them?  I have Interactive Brokers, does DAS email them or have some way of informing them of what my risk controls are?  Is there any way to view them later?  When I go back to the page it's all blank.

 

As far as I can see, Interactive Brokers doesn't have any risk management controls.  I'm interested in knowing how DAS can make IB do that.  

 

Thanks

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I emailed DAS support about the risk control page, here is the exchange.

When I make a change to the risk control page and hit the submit
button, when does the change get implemented?  It seems to happen the
next day but I wanted to check.

When I go back to the risk control page, everything is blank.  Is
there any way to see what the current risk controls are?

Is there a way to remove a risk control setting?  How long does that
take to go into effect?

 

REPLY:

Hi David, Once you submit it, we will then receive your risk control 
page and update that to your account. It should be done within half hour 
if you submit it in our business hours(Monday-Friday: 8:30am to 5:30pm 
EST), otherwise it will be update to your account in next business day.

Yes, that page will always be blank, and currently there is no way for 
client to see it. Client will require to contact us for that information 
(either via Email or Live chat)

You can contact us (via Email or Live chat or Phone) to remove it, or 
submit a new blank risk control page.

-- 
Best,

Jason He
DAS|INC
Phone: 845-282-7859 x4
Website: dastrader.com | E-mail: jason@dastrader.com
Twitter: @DASAlerts | Facebook: DASTrader

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@Abiel

Is it possible to auto stop a trade/position if it reaches a specific lost or a percentage of that trade?

For example you are trading MU 100 shares, total 5000 USD; when you are in -50, it stops that trade.

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I spoke to customer service at SpeedTrader today.  There is no Risk Control feature in their version of DAS.  According to the person I talked to you can let them know via chat or phone what setting you would like for your max loss limit where you can no longer enter orders.  They don't seem to have the additional functionality outlined above but there is the overall risk limit.  

It's also possible that the person I was talking to didn't really have all the correct information.  It's maybe worth exploring additional functionality but I've at least confirmed you have to contact them directly to set even the basic function up.

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@Abiel,does anybody have experience using these risk controls with Centerpoint Securities? On the DAS platform these feature is completely grayed out,I called them and they told me,they can only set max loss and max position loss for me manually,however,they cannot set “enable auto-stop”. I’m very disappointed about that and thinking of signing up directly with DAS because of that. For me,my main challenge is not stopping out of a position early enough which in turn can become a large loser,therefore, if the risk control cannot help me then maybe the broker is not a good fit for me. Thank you for reading and would like to hear if anybody else has experience with this.

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2 minutes ago, Meirlandau10 said:

@Abiel,does anybody have experience using these risk controls with Centerpoint Securities? On the DAS platform these feature is completely grayed out,I called them and they told me,they can only set max loss and max position loss for me manually,however,they cannot set “enable auto-stop”. I’m very disappointed about that and thinking of signing up directly with DAS because of that. For me,my main challenge is not stopping out of a position early enough which in turn can become a large loser,therefore, if the risk control cannot help me then maybe the broker is not a good fit for me. Thank you for reading and would like to hear if anybody else has experience with this.

As far as I know, only Das Trader Pro can handle all the options of Risk Control Page.  Most brokers only offer what CP offered you. If you want all options you need to sign up with DAS + Interactive Brokers.

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Posted (edited)

@Abiel,thank you. They actually told me they are working on enabling it. Would to get your opinion,about switching to DAS+IB,for this reason alone and pay the $150 dollars a month for DAS,as I believe  this feature will save me more than $150 a month. And,what plan at DAS does BBT traders recommend?

Edited by Meirlandau10

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