Max risk per day
Set a rupee limit for the day. Once today's total loss reaches it, positions are sent for closing and no new trade is placed for the rest of the day.
Day profit control
It has three settings:
- Off
- Exit all at day profit target
- Lock % of peak day profit
Exit all at day profit target squares off everything and stops for the day once the day's profit reaches your target. Lock % of peak day profit lets you keep trading, and stops once the day's profit falls back by your chosen percentage from its peak.
The target is gross profit: brokerage, STT and GST are not deducted, so the amount reaching your account is lower.
Two more day limits
- Max open positions: limits how many positions you hold at once.
- Max orders per day: limits how many orders are sent in a day.
What they cannot do
Every exit is an order sent to your broker. In fast or gapping markets, during halts, or if software, networks, brokers or exchanges fail, exits can fill at a worse price, late, or not at all, and losses can exceed the limits you set. Every limit is off until you switch it on.