Daily Loss Limits

Automatically stop trading when you hit your maximum daily loss. Like a bartender cutting you off before things get ugly.

What Are Daily Loss Limits?

A daily loss limit is the maximum dollar amount an account can lose in a single trading day. When the limit is reached, TradingPlace automatically stops sending new trades to that account for the rest of the day.

Tilt Prevention
Bad days happen. The worst thing you can do is revenge trade after a string of losses. Daily limits enforce discipline when emotions run high.

How It Works

TradingPlace tracks your realized P&L throughout the trading day:

Each closed trade updates your daily P&L
When daily loss exceeds your limit, the account is "locked"
Locked accounts are skipped for all new trades
Existing positions remain open (you can still manage them)
The lock resets at 6pm ET when the new trading day begins

Configuring Limits

Set daily loss limits per account in your dashboard:

Go to Account Settings
Click the account you want to configure
Set the Daily Loss Limit in dollars
Click Save

Prop Firm Tip
Set your daily limit well below the prop firm's max daily drawdown. If they allow $2,000 daily loss, set yours to $1,500. This gives you a buffer for slippage and open P&L.

What Happens When Limit Is Hit

When an account hits its daily loss limit:

The account card turns red and shows "Daily Limit Reached"
New trades skip this account automatically
You can still close existing positions manually
Other accounts continue trading normally
The limit resets at 6pm ET

Best Practices

Be conservative - Set limits that feel slightly uncomfortable. You'll thank yourself later.
Account for fees - Include commission and exchange fees in your mental math.
Don't override - Resist the urge to raise your limit mid-day. That's tilt talking.
Review weekly - If you're hitting limits frequently, your position sizing may be too aggressive.

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