How to Manage My Risk: Rithmic
Ensure effective risk management with Rithmic by following the guidelines below. Proper setup is crucial for maintaining a secure and efficient trading environment.
Important Considerations
- Correct Criteria Usage: Always utilize the correct criteria for proper setup to ensure accurate risk management.
- Third-Party Responsibility: Since Rithmic is a third-party application, Apex Trader Funding cannot accept responsibility for its usage.
- Additional Information: There is no additional information available through Apex Trader Funding. For more details, please contact Rithmic Customer Support.
Setting Up Auto Liquidate Criteria
Follow these steps to configure auto-liquidate criteria in RTrader Pro:
- Launch the RTrader Pro application on your computer.
- Click on the Trader Panel within the platform.
- Right-click on the account you wish to configure.
- Select one of the Auto Liquidate Criteria options from the dropdown menu.
- Choose Trailing Minimum Account Balance as your criterion.
How Trailing Minimum Account Balance Works
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Daily Trailing Loss Example:
- Max Daily Loss: $1,000
- Profit Made: $2,000
- Account Balance: Drops to +$1,000
- Outcome: The account is automatically liquidated when the balance reaches the trailing minimum.
Understanding Auto Liquidate Criteria
Auto Liquidate Criteria ensure that your account is automatically closed to prevent excessive losses. See the available criteria below:
1. Minimum Account Balance
Definition: The account is liquidated if the balance falls below the specified value.
Note: Editing the cash on hand can trigger auto-liquidation if it causes the account value to drop below the set threshold
2. Percentage of Cash on Hand Lost
- Definition: Liquidation occurs if the loss exceeds the specified percentage of the cash on hand.
- Note: Adjusting the cash on hand can lead to auto-liquidation if the percentage loss threshold is breached.
3. Loss Limit
- Definition: The account is liquidated if the loss exceeds the predefined limit.
4. Trailing Minimum Account Balance
Definition:
- Formula: Account Balance - Liquidate Threshold
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Behavior:
- If the account balance increases, the trailing minimum balance increases proportionally.
- If the account balance falls below the trailing minimum, the account is liquidated.
5. Limited Trailing Minimum Account Balance
- Definition: The Trailing Minimum Account Balance does not increase beyond the Max Min Account Balance specified in the “Auto Liquidate Max Min Account Balance” field.
Managing Technical Issues and Closing Trades
Effective management of technical issues is essential for maintaining trading performance. While platforms are an excellent tool for visual trading, they introduce an additional layer of communication between you and Rithmic. Keeping RTrader Pro open will help you stay connected and informed. Follow these steps to handle technical challenges in Rithmic/RTrader:
Keep RTrader Open
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Ensure RTrader is always open to:
- Monitor your trailing threshold.
- Facilitate the easy closure of positions.
- Check for pending orders.
Closing a Trade with RTrader Pro
- Access your RTrader Pro account.
- Click on the Positions tab.
- Click the X next to the position you wish to close.
Important Guidelines
- Responsibility: Traders must manage and be prepared for technical challenges independently.
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Help Desk Limitations:
- Do not submit tickets to the Help Desk for issues related to closing trades or missed opportunities due to technical problems.
- The Help Desk cannot credit, adjust, or change account balances.
- Treat your trading experience similarly to trading with a live broker, where account adjustments are not possible.
Market Volatility Advisory
Understanding Market Volatility
Major market movements triggered by global events can lead to abnormally high traffic rates from futures exchanges. This can impact your trading screens and platform performance.
Tips to Handle High Market Volatility
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Minimize Subscribed Instruments:
- Keep the number of your subscribed instruments to a minimum to reduce data load.
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Limit Visible Windows:
- Reduce the number of visible windows on your trading platform to enhance performance.
Actions Specific to R | Trader™ and R | Trader Pro™
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Update Time Column:
- Ensure the Update Time column in the Quote Board matches your computer’s clock.
- Stale Data: If the update time is noticeably behind, the app data may be outdated.
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Monitor System Alerts:
- Yellow Lights/Slow Computer Alarm: Indicate that the data rate is faster than your computer’s processor can handle.
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Adjust Data Rate:
- Subscribe to Aggregated Quotes: At the login screen, click on the Aggregated Quotes link.
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Modify Update Frequency:
- Go to the Window menu in R | Trader™ or R | Trader Pro™.
- Click on Preferences > Performance tab.
- Use the slider to change updates from 10 to 4 and click Apply.
Accessing the Full Advisory
For more detailed information, access the Rithmic Advisory on Market Movements.
Final Reminder
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Closing Trades:
- If unable to close a trade within your trading platform, you must use RTrader Pro. Apex is not responsible for third-party platform malfunctions. If RTrader is operational, you must use that to manage your trades/accounts.
- Navigate to File > Positions and click the red X next to your trade to close it out as per the GIF shown in this article.
We are dedicated to providing you with the necessary tools and support to effectively manage your trading risk with Rithmic. Should you have any questions or require further assistance, please submit a help desk ticket.
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