Hi Team,
There are currently two ways to activate kill switch:
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In trader control currently you provide option to activate Kill switch. (manual)
-
while your position is running you can give max profit / max loss and then activate kill switch.(after opening position)
My Suggestion:
In heat of the moment people could take time to go and activate kill switch and they might suffer bigger losses. like people will keep doing overtrading and then they realize it after they have made a big loss.
could you provide a feature lets call it - TRADE PLAN
Inside TRADE PLAN person can decide below things even before trading starts.
-
Max trade per Day (currently we get warning for this)
-
MAX loss for that given day (currently we can set warning for this)
When any of the the rules which were set by the user earlier before he started trading broke during market hour you could close everything and automatically activate kill switch. This way Traders can stick to their trading plan
Few suggestion:
for rules enforcement purpose you can chose if only he/she has MIS order then only this features could be use. you could also give warning messages on the screen say user is near 20% of exhaustion limit like. if max loss for the day is set as 50000 and user has a current loss of say 40000 he could start getting warning that position can be closed as your max loss set Rule is about to get executed. similar kind of warning for Max amount of orders
@Mohseen_Usmani @Naman @Hardik @Poornima @Sameet @RahulDeshpande @PravinJ @Saurav.P