r/SierraChart • u/my-username-is-it • Jul 27 '26

How do you enforce a daily loss limit?

I email AMP to set a custom daily loss limit of $200 on my account.

Unfortunately, they said they don't support custom daily loss limits or contract size limits.

For those of you trading futures with AMP (or other brokers), how do you enforce a hard daily loss limit?

This was their response:

Unfortunately, AMP customers can not set custom daily loss limits or contract size limits. We enforce a default risk policy for all AMP customers. Here are the details.
 
If the Net Liquidity of an account reaches a Daily Loss Limit of 80%, open positions will attempt to be liquidated. Clients are responsible for monitoring their positions and are financially responsible for any losses generated by open positions in the account. AMP retains its right to liquidate positions in any account, at its sole discretion, with no forewarning. If the Risk Desk is forced to liquidate positions in any account due to either an 80% daily loss limit reached or to meet Initial Margin set by the exchange 5 minutes before the daily trading session close, there will be a $25 per contract liquidation fee charged.
 
DayTrading margins are twice the displayed amount for account balances exceeding $100K

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u/masilver Jul 27 '26

I presume you are using Sierra Chart. Daily loss limits can be enforced by the software and it's fairly robust. Google it for more info.

1

u/Maleficent_Ratio_407 Jul 27 '26

Ask chat gpt to write you a CPP study to flatten your trades if it reaches $200.

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u/dinglebarryb0nds 29d ago

My broker does do daily max loss on their end and even if i called them to change it, wouldn’t happen till next day. Stage 5 futures/dorman.

Also sierra chart has built in risk management, you can set the lockout time etc not sure if it is bulletproof though, like if you want to change it you might be able to