Drawdown guard
Stops copying to an account, and can close its trades, when its equity falls past your daily or overall limit.
The drawdown guard protects an account from a bad day. You find it in a slave's SL/TP & Sentinel Guard tab.
The two limits
- Max Daily Drawdown Limit (%): measured from the account's balance at the start of the trading day, which is 22:00 UTC.
- Max Overall Equity Drawdown (%): measured from the account's starting balance.
What happens at a limit
You choose under At the limit:
- Close open positions and stop copying new trades (default).
- Stop copying new trades, leave open positions running.
You get an email, and the event appears in Execution Errors and the Audit Log.
When copying starts again
- After the daily limit: at the next trading day (22:00 UTC).
- After the overall limit: when you open the account's settings and save them again.
Use the same limits for new accounts
Tick "Use these limits (and this account's symbol lists) for accounts I add from now on" and new accounts start with them.
Good to know
- Set your limits a little inside your prop firm's limits, so the guard acts first.
- The guard reacts to the account's equity, so open losses count, not only closed ones.
- It is a safety net, not a guarantee. In a fast market a broker may fill a close at a worse price.