Support Board
Date/Time: Fri, 07 Feb 2025 04:06:58 +0000
Can't Reset Daily Loss Limit?
View Count: 2056
| [2020-05-18 14:10:01] |
| j4ytr4der_ - Posts: 946 |
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I don't understand what I'm doing wrong here. I'm experimenting with the Global Profit/Loss Management features, but the Reset button never works for me. Using Sim, I have it set to flatten on a -100 loss, and lock for the day. Once I hit that loss amount I can no longer trade until the following day. I have encountered two issues: 1. Clicking Reset does nothing. The lock does not reset, and the only way I can actually reset things is to disable Lock Trading and Daily Net Loss Management entirely, click OK, and re-open the settings and increase the loss amount ad re-enable everything. 2. The next time I am allowed to trade appears to be the next calendar day, not session. For instance yesterday (Sunday) at the open I was playing around with this and hit the daily loss limit. This morning when I sat down again after the regular open, I was unable to trade ans was still locked out. Currently it shows I have 17 hours remaining on my lockout, which suggests it last reset at midnight my time (Pacific), but if that were the case then I should not have been locked out from trading this morning. I have triple-checked all my charts and DOM and they are all set to my local timezone trading session hours (which starts at 06:30:00) and to use the Global Time Zone which is set to Los Angeles. I can't figure out how to get the Loss Limit functionality to behave as I would expect. I have read through the help sections on both the feature itself, and the way the loss calculation is performed, and I don't see anything set wrong. Am I missing something? |
| [2020-05-18 19:08:41] |
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We have updated the documentation here about this: Global Profit/Loss Management: Lock Trading (Global Settings >> Global Profit/Loss Management) And here: Global Profit/Loss Management: Daily Net Loss Management >> Reset Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-05-18 20:57:08] |
| j4ytr4der_ - Posts: 946 |
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Thanks, I had read that page already several times but couldn't make sense of it. Finally after a bunch more experimentation I figured out what was not obvious. I assumed "Reset" was what the name implies - that it internally resets your losses to zero and allows you to hit your loss limit once more. But this is not the case. For instance if you have a $500 loss limit and hit it, and want to have another $500, you must change the loss limit to $1000 and then reset. Which of course means you will need to remember to reduce it to $500 again before the following day, which is unfortunate. It makes sense once you figure it out, but this was not obvious to me (along with the requirement that you unlock trading, hit OK, then re-enter the dialog to enable locking again). Seems to be working now... thanks again. |
| [2020-05-19 12:45:29] |
| j4ytr4der_ - Posts: 946 |
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So this morning I'm running into more of the same issue with getting this to reset for the day. When I shut down yesterday, my sim account was at -10T and had locked as expected. But this morning it is still showing -10T even though there has not been a single trade. My GPLM setting for "start of day" is 00:00:00 so I expected it to reset at midnight, but it has not and I can't figure out how to force it to do so. How do i get it to recognize that this is a new day and that my P&L is flat? Date Time Of Last Edit: 2020-05-19 19:49:22
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| [2020-05-19 14:37:38] |
| j4ytr4der_ - Posts: 946 |
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Just switched over to my combine account (Rithmic) and have the same problem. It's still locked based on yesterday's loss limit, even though today is flat. There must be a setting somewhere related to this but I can't find it.
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| [2020-05-19 15:18:08] |
| j4ytr4der_ - Posts: 946 |
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I'm still stuck on this. According to the documentation: When the Lock for Day option is enabled, then Lock Time In Minutes is ignored. Trading is locked for the entire day. A new day is considered to begin at 00:00:00 according to the global time zone setting.
But for me nothing is resetting on a new day. My Global Time Zone is set to Los Angeles. |
| [2020-05-19 19:49:13] |
| j4ytr4der_ - Posts: 946 |
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So I just heard from Rithmic, their P&L is reported based on product session times, so that explains why it hadn't reset (I had traded a little yesterday evening).
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| [2020-05-20 00:00:52] |
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The one missing detail is this (From documentation): The resetting of the Daily Net Loss Management has no effect upon the resetting of the Daily Profits/Loss for the charts maintaining a Trades list and being used in the Daily Net Profit/Loss calculation. The reset time for those is based upon the Session Times in the chart. For more information, refer to Understanding Daily Trade Statistics Reset Time.
Refer to: Global Profit/Loss Management: Daily Net Loss Management >> Reset Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-05-20 00:01:02
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| [2020-05-20 00:03:28] |
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You can control your loss limit yourself in a simplified server managed environment, rather than on the client side, using the Simulated Futures Trading service: Simulated Futures Trading Service There are new risk-management features we are implementing with this service which will be released in a couple of weeks. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-05-20 01:20:59] |
| j4ytr4der_ - Posts: 946 |
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Wow I'm excited to see how far you've come already on the new simulated trading evaluation service. I hope the evaluation companies will embrace it! Regarding post #8 above, I'm still a little confused about this. You quoted: The reset time for those is based upon the Session Times in the chart.
Am I correct that this only applies to using the current built-in trade simulation mode? |
| [2020-05-20 02:33:09] |
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It applies to the calculation of trade statistics and profit/loss within the chart which also is used by Global Profit/Loss Management. It is completely independent of Trade Simulation Mode. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-05-20 02:33:28
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