Description
Risk Manager – Daily Profit & Loss Control
Risk Manager is a professional-grade risk enforcement tool designed to help traders maintain discipline and protect capital by strictly controlling daily profit and loss limits. It operates independently of trading strategies, making it ideal for discretionary traders, algorithmic traders, and prop-firm style risk management.
Once activated, Risk Manager continuously monitors your account’s real-time PnL and automatically enforces predefined daily limits, removing emotional decision-making and preventing overtrading.
Key Features
Daily Loss Control (USD or % Mode)
Choose how your maximum daily loss is defined:
- Fixed USD amount, or
- Percentage of account balance
The selected risk mode and value are locked for the entire trading day, ensuring consistency and preventing mid-day parameter changes.
Daily Profit Target Enforcement
Set a daily profit target to protect gains.
When the target is reached:
- All open positions are automatically closed
- The trading day is locked to prevent further exposure
Pending Order Management
On profit or loss limit breach, Risk Manager can:
- Automatically cancel all pending orders, or
- Leave pending orders untouched (user-selectable)
This ensures no unintended trades are triggered after daily limits are hit.
Hard Risk Enforcement
Risk Manager continuously enforces limits:
- Positions reopened after a lock are immediately closed
- Limits remain active for the entire day
- Enforcement persists across restarts
This makes it suitable for prop-firm style trading rules and strict personal risk plans.
Visual On-Chart Control Panel
- Clear lock status displayed directly on the chart
- Color-coded lock button:
- Green when unlocked
- Red when locked
- Instant visibility of the enforced daily loss and profit settings
Daily Lock Snapshot & Logging
Each trading day’s locked settings are saved and logged, allowing you to verify:
- Active loss mode (USD or %)
- Max daily loss
- Daily profit target
- Pending order behavior
This adds transparency and auditability to your risk management.
Who This Tool Is For
- Discretionary traders seeking stricter discipline
- Algorithmic traders needing an external risk layer
- Prop-firm traders enforcing daily loss/profit rules
- Anyone who wants risk control separate from strategy logic
Important Notes
- Risk Manager does not place trades — it only manages risk
- Designed to work alongside any cBot or manual trading
- Daily limits reset automatically at the start of a new trading day
Summary
Key functionalities include:
- Daily Loss Control: Set maximum daily loss as a fixed USD amount or a percentage of account balance, locked for the entire trading day to ensure consistency.
- Daily Profit Target Enforcement: Automatically closes all open positions and locks the trading day upon reaching the profit target.
- Pending Order Management: Optionally cancels all pending orders or leaves them untouched when profit or loss limits are breached.
- Hard Risk Enforcement: Continuously enforces limits throughout the day, closing positions reopened after a lock and persisting enforcement across restarts.
- Visual On-Chart Control Panel: Displays lock status with color-coded buttons (green unlocked, red locked) and shows daily loss and profit settings.
- Daily Lock Snapshot & Logging: Saves and logs daily locked settings for transparency and auditability.
Risk Manager does not place trades but manages risk separately from strategy logic. It resets daily limits automatically at the start of each trading day and is designed to work alongside any cBot or manual trading.
Discussion
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