Setting Risk Limits in R-Trader

​

Earn2Trade have two rules that can be automated:

• All trades must be closed by 15:10 CT

• Do not exceed Daily Loss Limit of $550

​

These parameters can be set in R-Trader, and Rithmic will automatically liquidate your positions to avoid you breaking the rules.

​

1. In R-Trader, open the Trader Dashboard.

2. Right-click on the account and select "View Risk Parameters".

3. Click "Risk Parameters set by the Trader".

   1. Auto Liquidate: Enabled​

   2. Auto Liquidate Criteria: Loss Limit

   3. Auto Liquidate Threshold: 500 (see note below)

   4. Auto Liquidate Max Min Account Balance: [leave blank]

   5. Auto Liquidate At: 21:09:50 (see note below)

​

Parameters are stored on RIthmic's servers, so you do not need to keep R-Trader open for them to work.

​

Auto Liquidate Criteria

Loss Limit will automatically liquidate your account if your account goes $X below the day's starting balance.  If you start the day with £25000, your account will liquidate at $24500.

​

Auto Liquidate Threshold

Earn2Trade's Daily Loss Limit is $550.  You need to account for commissions and slippage when you liquidate, so the value you set here should be less than that.

​

If you trade 20 MES contracts, the exit commissions are $33.20.  This allows you just one tick of slippage before you blow the account.  This is extremely fine for MES.

​

If you trade 2 ES contracts, the exit commissions are $3.78.  This allows two ticks of slippage before you blow the account.

​

Auto Liquidate should be a final protection mechanism in case of monkey hijack or technical failure.  Usually, you would plan a daily loss limit and exit on a stop or manually before the liquidate threshold.

​

Auto Liquidate At

This is in your local time zone.  Earn2Trade requires trades to be exited by 15:10CT, so in the United Kingdom I set 21:09:50 to ensure any trades are liquidated 10 seconds before the deadline.  Note there are certain times in the year when US and UK daylight savings times differ, and this setting needs to be adjusted manually.

​

Account Failure on Auto-Liquidate

As of June 2022, Earn2Trade have a bug in their system that fails accounts that have auto liquidated.  The failure is inadvertently picked up overnight.  You will need to contact support and ask them to cancel the reset.  Hopefully this issue will be fixed soon.

​