Automatic suspend trading activity for particular time period ready to pay Fees

vishal7176

Well-Known Member
#1
hello friends ,

i am day trader . i want to limit my loss for particular day . like todays my maximum loss limit 2000 rs . once my loss limit hit in a day , then my trading suspend for next 2 hour . i am looking cummulative loss it means loss in a one trade or 10 trade. amount matter in ruppes.
i want some automatic solution for this work . some code / excel/ programme etc. it means once my maximum loss limit hit for day then my trading activity/ terminal / computer suspend for next 2 hr . i am ready to pay some fees also .
i am using ODIN Client ver 10.0.2.0 .
my broker is not provide API . i cant change my broker for particualr reason.

( some of my friends suggested some solution like control yourself ,mediation , avoid same mistake , take some break,etc but it not worked for some . )
some suggest me some psychological issue / treatment for change that habit , if any good knowlegble person you know then also suggest for me .)

problem i am facing is i know everything but implementation is main problem . i know that i want to stop once my maximum loss reach , but i cant . i know that it is harmful for my p/l and harmful for my bread and butter but i cant stop myself .
 
Last edited:

Mavala

Active Member
#2
There are multiple Algo API bridge which gives this feature.
Edit - I did not read that you already know this and just you do not want to change broker, my bad.
 

lemondew

Well-Known Member
#4
Hi vishal,

In my opinion its very difficult to manually put orders through a terminal and at the same time exercise control on your orders. As far as the discussion we had I realise you trade based on discretion not mechanical. Also you use market depth. I have not used odin so cannot comment on that. But if you can fire orders automatically through a coded front end all these can be controlled.

Else you have to go through psychological books already suggested. And just take the losses when you hit them. In my limited experience if you have already made some money this month its easier to close the day with a loss. But in a drawdown there is always an urge to somehow start quickly getting into profits and take those extra trades. This has to be avoided simply by thinking the goal is not to become bankrupt. The only way to avoid becoming bankrupt is to restrict the losses. If by avoiding becoming bankrupt you can make some money then its a bonus. So basically just put in your mind your goal is not to make money but to avoid loosing money and keep the account active and running. .....



hello friends ,

i am day trader . i want to limit my loss for particular day . like todays my maximum loss limit 2000 rs . once my loss limit hit in a day , then my trading suspend for next 2 hour . i am looking cummulative loss it means loss in a one trade or 10 trade. amount matter in ruppes.
i want some automatic solution for this work . some code / excel/ programme etc. it means once my maximum loss limit hit for day then my trading activity/ terminal / computer suspend for next 2 hr . i am ready to pay some fees also .
i am using ODIN Client ver 10.0.2.0 .
my broker is not provide API . i cant change my broker for particualr reason.

( some of my friends suggested some solution like control yourself ,mediation , avoid same mistake , take some break,etc but it not worked for some . )
some suggest me some psychological issue / treatment for change that habit , if any good knowlegble person you know then also suggest for me .)

problem i am facing is i know everything but implementation is main problem . i know that i want to stop once my maximum loss reach , but i cant . i know that it is harmful for my p/l and harmful for my bread and butter but i cant stop myself .
 

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