Hello
I am looking for a out of box (if possible) solution for following risk management scenario
( Assume broker is Interactive broker- CASH account), Futures trading only
- Third party is going to trade my a/c as a “second user”
- I want to be able to set a “Total Account Goal Stop loss” meaning all open positions wil be closed if A/c net worth goes down to a certain level.
- Third party must not be able to change this GSL
IN a nut shell I can let the 3rd party have a freedom to trade but I have the control over overall situation
Very similar to this is available as a add on with FXCM for fx margin trading
Have a look https://www.youtube.com/watch?v=3JYCpytZqDs
I don’t know if IB has this ability but tradeprofutures.com has the ability to set daily loss limits. For example, once a loss limit of $1000 (or whatever dollar amount you choose is reached) a market order is sent to close all open positions, cancel all open orders and the trader is locked out until the next session. The broker sets this level for you so the third party will have no ability to change this on their own.
- IB does not have such functionality, 2) tradeprofutures.com Yes that is one way but that means giving my a/c password to third party… I was hoping I can do it with C2!
I was told about scaling and some other functionality about % . but that did not really resolve what I am looking for, I hope somebody at the top at C2 look in to this .
Talking to tradeprofutures.com but it does not seem it is that easy… any other solution?
