NinjaTrader Risk Manager Add-On

Sophia

To effectively help manage discretionary risk management given trader psychology, it would be better if some of the alarms had the option of NOT turning off (and hence easily ignored) in the current session after a given risk parameter setting is tripped.

Specifically: For the Close All Positions after x number of losses, it would be good to have two options, such that you could, for example, stop any orders for 15 minutes after 1 loss and then stop all orders for the current session after 2 losses (or whatever number one chooses, but two different inputs). So that one set would serve as a break while the next would cease trading in the current session, with no or limited reset options in the current session (such as having to shut down and restart or wait an hour or two).

Same suggestion for the other alarms involving shutdown for drawdown, max account % loss, etc.

This suggestion was migrated from the old forum and originally posted by Wolf

Mike

Thank you, Wolf, we will review this suggestion.

mdoepp001

@Mike#122 I completely agree with the request. It would be a great addition to the tool if there would be an option to enforce that traders have a Halt after a risk event occurs.

I understand the process for enhancements and that resources are limited. So therefore I request a simple but yet powerful enhancement. Add a new Alert Event. Close and Halt. This event will be the same as close all positions, but the option is not turned off, and it is not possible to change the option for a certain period. This effectively will enforce a Trading Halt. This alert event can be added for all risk events regarding losing/drawdows/account declines. In the most simple form it would be a 15 minute period for all risk events. Even better would be to make it configurable for each risk event and for the values of the risk event number of consecutive losses (e.g. with a new Tab Halt settings). If too much effort I still like to have a fixed Close and Halt option of 15 minutes.