Server Based Profit/Loss Management

Introduction

The Server Based Profit/Loss Management functionality is available with Teton Order Routing, through brokers that are supporting it, and with the Simulated Futures Trading Service.

With this Profit/Loss Management feature, you are able to set rules for flattening/closing the Positions for a specific Trade Account based upon reaching profit targets, along with optional trailing rules, reaching a loss limit, and/or closing positions at a specific time.

This is all under your full control independent of the broker.

The Profit/Loss management functionality can be used for overnight trading. It works, on a 24 hour cycle starting at approximately 17:30:00 Eastern time to 17:29:59 Eastern time in the following day. It resets at 17:30:00 Eastern time. If you are carrying a multi-day position, the open profit/loss of that Position is fully considered, towards the profit or loss settings of the Server Based Profit/Loss Management.

Instructions

Follow the instructions below to use the Server Based Profit/Loss Management.

1. First it must be understood that this functionality only works with the Teton Order Routing and Simulated Futures Trading services. In the case of Teton Order Routing it must also be supported by the broker you are trading with.
2. Edit your trading account following the Edit Trade Account instructions.
3. Select the User Profit/Loss Management tab.
4. Set the settings as you require. Refer to this video.
5. Commit the settings by using the Commit this Tab button located on the User Profit/Loss Management tab. Do not use the Commit button at the bottom of the window.

Understanding Functionality Compared to Similar Functionality

The Server Based Profit/Loss Management functionality controlled through the "User Profit/Loss Management" tab of the Trade Account Settings window, works for both the Trading Evaluator services and Teton Order routing.

In the case of Teton Order Routing, Server Based Profit/Loss Management has to be enabled for the particular broker you are using. Once it is enabled, then you are able to fully control it yourself and there is no need to involve the broker for controlling it.

Once your Positions are closed for a Trade Account in a trading day, by the Server Based Profit/Loss Management functionality, then it is not possible to trade again for the rest of the trading day. You will have to wait until the market reopens in the evening to be able to trade again. Not even your broker can reactivate trading for you.

Unlike the auto liquidation functionality a broker can set on your trading account, which you have no control over, the user controlled Server Based Profit/Loss Management functionality is fully controllable by you.