Reference
Risk policy reference
Every limit in the risk policy with its shipped default: daily loss, drawdown, position count, spread ceilings, volatility, data freshness and blackouts.
Last reviewed: 25 August 2026
How to read this page
These are the values the system ships with. They are a starting point chosen to be conservative, not a recommendation for your account — the right daily loss limit depends on your capital and what you are willing to lose in a day, which we cannot know.
Every value is per account and configurable. The policy file itself is versioned, and the version in force is stamped onto every decision made under it.
Account-level limits
| Limit | Default | What breaching it does |
|---|---|---|
| Max daily loss | 2% of equity | No new proposal is approved for the rest of the day. Resets on the daily boundary, not a rolling window, so it cannot be walked forward by trading through midnight. |
| Max drawdown | 10% from the equity peak | Stops new entries regardless of how good the current proposal looks. |
| Max concurrent positions | 3 | Further proposals are rejected until a position closes. |
| Max position size | 1.00 lot | A larger calculated size is capped, or the proposal is rejected. |
| Max correlated exposure | 2.00 lots | Rejects a proposal that would push exposure across correlated instruments past the ceiling. Gold and silver ship correlated at 0.85. |
Human approval
| Setting | Default | Effect |
|---|---|---|
| Human approval required | On | Enables the threshold check below. |
| Approval threshold | 0.50 lot | A trade at or above this size waits for an explicit decision. Below it, the trade executes automatically. |
This is the setting to think hardest about
Market-condition filters
| Filter | Default | Rejects when |
|---|---|---|
| Spread ceiling | 1.0 price unit; 0.5 on gold, 0.0003 on EURUSD | The current spread on that symbol exceeds its ceiling. This is the single most common cause of a strategy that backtests well and loses live. |
| Volatility circuit breaker | 3x the average true range | Recent movement is outside the band — the market has stopped behaving normally. |
| Data freshness | 3 seconds | The last tick for that symbol is older than the limit. A frozen feed produces rejections, never fills at a price that may no longer exist. |
| Proposal rate limit | 5 per symbol per hour | That symbol has already used its allowance. Stops a single instrument from monopolising the account. |
Time-based blackouts
New positions are refused inside these windows. Existing positions continue to be managed normally — a blackout stops entries, it does not abandon open trades.
| Window | Default | Reason |
|---|---|---|
| Daily rollover | 21:00 to 21:05 UTC | Spreads widen and liquidity thins around the daily close. |
| Weekend closure | Friday 21:00 UTC through Sunday 21:00 UTC | Avoids opening into the close and the weekend gap. |
| News blackout | 15 minutes before and after a high-impact release | Applies to scheduled releases for the currency involved. Only high-impact events are considered. |
An honest note about the news blackout
Default order levels
When a proposal does not specify them, stop-loss and take-profit fall back to configured defaults. These are crude by design — they exist so that no position is ever opened without protective levels resting at the broker, not because a fixed distance is appropriate for every instrument.
What this policy does not do
It bounds how much a single decision or a single day can cost you. It does not prevent losses, and no arrangement of these numbers will. Leveraged trading can lose more than these limits suggest when a market gaps through a resting stop — read the risk disclosure before trading real capital.