1. Breaching the daily loss limit
The $1,100 daily loss limit ends more TakeProfit Trader accounts than anything else. It only takes a short losing streak at too large a size. Sizing so two consecutive losses can't reach it is the single best protection.
2. Breaching the end-of-day trailing drawdown
The end-of-day trailing drawdown trails your equity, so the floor moves with your highs. Because it does not freeze, you can breach while still in profit if you give back gains. Knowing exactly where the line sits at all times is what prevents the surprise breach.
- →The $1,100 daily loss limit is the most common breach: size for it.
- →Know your exact distance to the end-of-day trailing drawdown at all times.
- →Track every limit from your imported trades so a breach is never a surprise.
Figures reflect a common TakeProfit Trader account at the time of writing. Firms revise rules often, so verify against the TakeProfit Trader site before relying on them.
Merlin's gauges derive from closed trades. Your firm watches live equity including open positions.
MerlinTrade is independent trading-journal software and is not affiliated with, endorsed by, or sponsored by TakeProfit Trader. All trademarks belong to their owners.