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TradeDay Risk Settings: Can You Access and Modify Them?
Yes, TradeDay traders can access and modify risk settings through Tradovate's built-in risk management tools—available for evaluation, Funded Sim, and Funded Live accounts.
You can set Daily Loss Limit, Weekly Loss Limit, Daily Profit Trigger, and Weekly Profit Trigger directly in your Tradovate platform, with positions auto-liquidating when limits are reached. These settings operate independently from TradeDay's maximum drawdown rules, providing an additional layer of protection you control personally to prevent catastrophic loss days or lock in profits automatically.
Quick heads-up: This article is based on my real experience with TradeDay and the info available when I published/updated this. Things change in prop trading — rules, payouts, promos, all of it.
For the absolute latest, check TradeDay´s website or their faq page.
However, modifying risk settings requires careful consideration—locking settings during a trading session means you cannot change them until 4-5 PM CT when the session ends, potentially trapping you in bad parameters.
The Daily Loss Limit is calculated from the balance at 5:00 PM CT (start of futures trading day), and if you set it too tight (like $100 on a $50K account), a single normal losing trade could liquidate and lock your account for the rest of the day. Most traders use Daily Loss Limit as their primary protection, setting it slightly above their comfortable single-day loss tolerance.
TradeDay doesn't force risk settings on you—they're optional tools you configure based on personal risk management preferences. Conservative traders might set aggressive limits ($200-300 daily loss on $50K accounts) to enforce strict discipline, while aggressive traders skip risk settings entirely and rely solely on TradeDay's drawdown limits.
The key advantage: risk settings can prevent emotional trading spirals where one bad trade leads to revenge trading and account violations. Set them once during calm market times, lock them, and let the system enforce discipline automatically.
Available Risk Settings in Tradovate
Tradovate offers four risk setting types accessible through platform's Account Risk Settings menu.
Daily Loss Limit (PDLL):
Maximum loss allowed in single trading day calculated from 5:00 PM CT session start. When balance drops to starting balance minus PDLL amount, account auto-liquidates all positions.
Example: Balance at 5:00 PM = $52,000, PDLL = $300
If balance drops to $51,700, all positions close automatically, account locks until next session (5:00 PM CT next day)
Weekly Loss Limit:
Maximum loss allowed during trading week (Sunday 5:00 PM CT - Friday 3:45 PM CT). Calculated same as daily but across entire week.
Example: Week starts $52,000, Weekly Loss = $1,000
If cumulative balance drops to $51,000 anytime during week, account liquidates and locks until Sunday 5:00 PM CT
Daily Profit Trigger:
Maximum profit threshold for single day. When reached, all positions auto-close and account locks.
Purpose: Lock in gains, prevent giving back profits through over-trading
Example: Set $2,000 daily profit trigger
Hit +$2,000 day, positions close automatically, can't trade rest of day
Weekly Profit Trigger:
Maximum profit for trading week. Same concept as daily but weekly timeframe.
How to Access Risk Settings
Risk settings are accessed through Tradovate platform (web, desktop, or mobile).
Steps:
- Log into Tradovate account via members.tradeday.com or tradovate.com
- Navigate to Accounts tab (top menu bar)
- Select your TradeDay evaluation or funded account
- Click "Risk Settings" button
- Toggle ON the risk types you want to activate
- Enter dollar values for each enabled setting
- Optional: Check "Lock Risk Settings if Trading Locked" (prevents changes until session ends)
- Click "Save"
Web Version Only: Risk settings currently only work in Tradovate web version, NOT desktop download version.
Verification: After saving, open new trade window—you should see risk settings limits displayed in account info area.
Recommended Risk Setting Configurations
Conservative Setup ($50K Account):
- Daily Loss Limit: $300
- Weekly Loss Limit: $800
- Daily Profit Trigger: $1,500
- Weekly Profit Trigger: None
Philosophy: Prevent large single-day losses, lock in moderate daily gains before emotions take over.
Moderate Setup ($50K Account):
- Daily Loss Limit: $500
- Weekly Loss Limit: $1,200
- Daily Profit Trigger: None
- Weekly Profit Trigger: None
Philosophy: Protection against catastrophic days, allow upside to run.
Aggressive Setup ($50K Account):
- Daily Loss Limit: $800
- Weekly Loss Limit: $1,800
- Daily Profit Trigger: None
- Weekly Profit Trigger: None
Philosophy: Maximum flexibility, only prevent account-threatening losses.
Scaling by Account Size:
$100K accounts: 2x the $50K values
$150K accounts: 3x the $50K values
Lock Risk Settings Feature
Critical decision: Should you LOCK risk settings?
When "Lock Risk Settings" is enabled:
- Once any limit triggers and account locks, you CANNOT modify settings until session ends (4-5 PM CT unlock)
- Prevents panic-driven bad decisions like removing Daily Loss Limit mid-session after hitting it
- Forces discipline—if you hit limit, you're done trading for the day, no exceptions
When NOT locked:
- You can increase limits mid-session if you hit them (defeating the purpose)
- Allows flexibility if you set limits too conservatively
- Requires self-discipline not to abuse the flexibility
Recommendation: Lock settings if your primary goal is forced discipline. Don't lock if you're still testing optimal values.
Risk Settings vs TradeDay Drawdown Limits
Risk settings are ADDITIONAL to TradeDay's mandatory drawdown rules—they don't replace or modify them.
Two Separate Systems:
TradeDay Drawdown (mandatory): $50K EOD account has $2K max drawdown = $48K violation threshold. This is firm rule, cannot be changed.
Risk Settings (optional): You ADD personal Daily Loss Limit of $400. This triggers BEFORE you get close to TradeDay's $2K drawdown.
Layered Protection Example:
Account balance: $51,000
TradeDay drawdown threshold: $48,000 ($50K - $2K)
Your Daily Loss Limit: $400
Your safe zone: $51,000 - $400 = $50,600 personal stop
If you hit $50,600, risk settings liquidate you—saving you $600 away from TradeDay violation at $48K.
Common Risk Settings Mistakes
Mistake 1: Setting Daily Loss Too Tight
Setting $100 Daily Loss on $50K account means one -$100 trade locks account for entire day. Normal volatility can trigger this accidentally.
Better: Set 2-3x your average losing trade size as Daily Loss buffer.
Mistake 2: Not Accounting for Commissions
Risk settings include commissions in P&L calculations. If your Daily Loss is $300 and you're down $280 with $25 in commissions, you're at -$305 total = triggered.
Mistake 3: Locking Settings Before Testing
Locking risk settings on first day without knowing if values are appropriate traps you in bad configuration for entire session.
Better: Test unlocked for 2-3 days, then lock once you confirm values work.
Mistake 4: Using Weekly Limits During High-Volatility Weeks
Setting Weekly Loss Limit during FOMC/NFP week can trigger from normal market swings, locking account for days.
Better: Disable weekly limits during known high-volatility periods.
FAQ
Can I change risk settings after account activation?
Yes, modify anytime through Tradovate Risk Settings menu—changes apply to next trading session if made during active session.
Do risk settings work on NinjaTrader or TradingView?
No. Risk settings are Tradovate platform feature only. If trading via NinjaTrader connected to Tradovate, settings won't work.
What happens if I hit risk setting limit during open trade?
Positions liquidate immediately "not held" basis—no guaranteed fill price, just market order to close everything.
Can TradeDay override my risk settings?
No. Risk settings are yours to control—TradeDay has no access to change them.
Do risk settings prevent TradeDay violations?
No. They're separate systems. You can trigger risk settings AND still violate TradeDay rules if losses are extreme enough.
Should I use profit triggers?
Optional. Some traders love them (lock gains, prevent give-backs). Others hate them (cut winning streaks short).
What if I forget my Daily Loss Limit and trade carelessly?
If locked, account liquidates at limit and locks until next session—tough lesson in discipline.
Can I unlock account before session end if I hit limit?
Only if you didn't enable "Lock Risk Settings" feature. If locked, you must wait until 4-5 PM CT.
Do risk settings carry over to funded accounts?
No. Settings reset when transitioning evaluation to funded. Must reconfigure after funding.
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