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Looking for broker supporting Sierra Chart Teton Futures Order Routing
a daily loss limit is defined as an absolute net loss per day. a drawdown limit is a limit based on your running equity peak. assuming your drawdown limit is 500. if you win 800 first, your draw down limit now is 300.
Drawdown limit may be complicated/involved for FCM side to implement themselves on an account basis. However Sierra was planning on building this Profit Management into Teton at some point:
I'm gonna have to agree with you on AMPfutures. Everybody said they were "really great". Since ive been using them I've not seen "good" let alone "great" Hence why I'm here looking for a replacement as well. Please let me know what you find...
I recently had the same questions but found that in sierra you can set daily loss limits and account lock for trading. You don't need to rely on a broker for what you want. There is already a tool for that or someone has already invented it. If there is none. Try and find a way to get it or make it. It's what's makes us better every day. You're on the right track. I had been there not to long ago.
Regarding AMP Futures (which is both an Introducing Broker and its own FCM), it seems to me one of the most appealing features is AMP's very low margins for day trading. Most other Introducing Brokers have considerably higher margins.
I was considering opening an account with AMP primarily for this reason.
This year 2023 I've seen some Introducing Brokers greatly increase their margins during major scheduled economic data news events. Some brokers have increased to the full exchange initial margin (overnight margin) about $12,000 for a single ES contract - during these scheduled economic data news events.
When I started, the little money that I had I used it at Iron beam. I wasn't well educated at the time whereas I found out the hard way they were charging me 1.20++ per side on the micro products. Ultimately was not profitable since my gains were wiped out by the commissions at maybe 15-20 trades a day.
Trying now forex with IG markets as an experiment. But ultimately took all money out and put it in Amp, also opened with Edge clear.
