Profit/Loss Thresholds
Last updated
Last updated
Each monitor includes both a profit and a loss threshold, configurable as a positive or negative dollar amount. When an account’s real-time P/L breaches either threshold, configured actions such as account flattening and modifications to alert settings will be triggered.
Users can specify if calculations should consider commission and/or unrealized P/L in addition to realized profit/loss. Thresholds with zero can be specified to disable the threshold monitoring of a profit or a loss value separately, without deactivating the monitor.
The system supports threshold re-configurations at any time. All changes are updated and pushed to the CrossTrade Add-On client immediately.
When a profit or loss threshold is reached, NinjaTrader Account Manager allows for configurable responses to the trigger. Upon hitting a target, the user can configure either of two actions on each profit/loss target independently:
Flatten account
Do nothing
When a Flatten is triggered, CrossTrade will close all positions in the account and cancel all open orders. XT uses NT8's internal flattening mechanism, which uses matched inverse market orders to flatten each position.
If you'd prefer CrossTrade to take no action on the position, select Do Nothing. This is useful if you're only interested in modifying Alert behavior.
In fast moving markets, some slippage is possible when profit or loss targets are hit. CrossTrade cannot guarantee the execution account value when using Account Management.
Position management actions are performed once at the point where an account breach has occurred. Each account is monitored independently based on individual settings for each account's monitor parameters.
Actions cannot be un-done and can only be configured before the monitor is started. Monitor settings cannot be guaranteed to be completely synchronous when interacting with running strategies, especially with high-frequency, automated trading operations.
Additionally, configurable alerts can also be set to be triggered when either a profit or loss target is hit (independent of a position management action), including:
Disable alerts
Closing only
Do nothing
CrossTrade will block all inbound webhooks when disable alerts is engaged.
Again, very similar to engaging the Closing Only switch at the global level in CrossTrade, but only for one account.
When enabled, closing only allows only closing order webhook commands to pass through (this includes use of flatten_firstflags) while blocking all opening actions.
If you choose to do nothing when a profit or loss target is hit, then no modifications will be made to alter filtering. All alerts will still pass through to NT8.
This is very similar to how the master "Kill Switch" works in the at the global level, except this option will only disable alerts for the specific account whose profit/loss target was hit.
