Is there any risk management tool or service at retail level within IB (futures) where an account owner can manage the account risk independent of the 3rd party trader!
Let me explain
The functionality I am looking for is>
- Lets say a 3rd party trader is going to trade my futures account under a LPOA via his api LINKED TO MY IB account.
Lets say account has 10,000 in it and I want "ALL positions closed IF net liquidity goes down to a pre determined level " say 9200
I call it “Global Stop loss level”
If this stop loss is hit then I want The account to be halted so no new trades can be placed without me authorizing it
If such facility is available how would it work with slippage
If such facility is available how would it work in case of a black swan event.
The positions may go overnight not just day trading.
I want to set this GSL independent of the trader and the trader should not be able to change it. somewhat similar to this FXCM tool
Can I restrict the account so that it only trades one specific instrument in this case ES futures and trader by accident can’t trade anything else.
I want this feature as set and forget so I dont have to watch what the trader is doing 24/6