Frequently Asked Questions (FAQ)
1. What is RiskClose and how does it work?
RiskClose is a trading guard that helps you manage and enforce your trading rules automatically. By connecting your trading account to our platform, you can set specific rules such as maximum trades per day, maximum open positions, daily loss limits, and more. Our system will monitor your account in real-time and take action if any rules are breached, such as closing positions or preventing new trades for the rest of the day.
2. How do I connect my trading account to RiskClose?
To connect your trading account, follow these steps:
- Log in to your RiskClose account.
- Navigate to the "Trading Guards" section.
- Select "+ Create" and choose your Server Name and Credentials
- Once connected, you can start setting up your trading rules.
3. What kind of rules can I set with RiskClose?
You can set a variety of rules to help manage your trading activity, including:
- Max Trades per Day: Limits the number of trades you can execute in a single trading day.
- Max Open Positions: Restricts the number of positions you can have open at any one time.
- Max Day Loss (%): Sets a maximum daily loss limit as a percentage of your account balance.
- Max Risk per Trade: Controls the maximum amount of risk you're willing to take on a single trade.
- Stop Trading After Loss: Automatically stops trading for the day after a certain loss is incurred.
4. What happens if I breach a rule?
If a rule is breached, RiskClose will automatically enforce the action associated with that rule. For example, if you exceed your daily loss limit, our system will close all open positions and prevent you from making new trades for the rest of the day.
5. Can I customize the rules for different trading accounts?
Yes, you can customize the rules for each trading account you connect to RiskClose. This allows you to tailor your risk management strategy according to the specific needs of each account.
6. How does RiskClose ensure the security of my trading account?
We prioritize the security of your trading account by using industry-standard encryption and secure protocols when linking your account to our platform. We do not store your trading account credentials; instead, we use API tokens provided by your broker to manage your account securely.
7. Will RiskClose work with my broker?
RiskClose supports integration with a wide range of brokers. You can find a list of supported brokers in the "Connect Trading Account" section of your dashboard. If your broker is not currently supported, please reach out to our support team, and we’ll consider adding it in future updates.
8. Is there a way to pause or deactivate the trading guard temporarily?
Yes, you can temporarily pause the trading guard by navigating to the “Settings” section of your account and toggling the trading guard off. This will stop the enforcement of rules until you reactivate the guard. However, we recommend using this feature sparingly to ensure consistent risk management.
9. Can I receive notifications when a rule is breached?
Although not yet ready, we will support notifications and alerton. More details here You will be able to configure notifications to alert you via email, SMS, or push notifications whenever a rule is breached.
10. What should I do if I encounter an issue or need help?
If you experience any issues or need assistance, our support team is here to help. You can contact us through the "Support" section in your account dashboard, or by emailing [Support Email Address]. We also offer a comprehensive knowledge base that you can access for troubleshooting and guidance.
11. Is there a free trial available?
Yes, we offer a 5 free trial for new users to explore the features and benefits of RiskClose. You can sign up for the trial on our website. No credit card is required to start the trial.
12. How do I upgrade or cancel my subscription?
You can manage your subscription by going to the "Billing" section of your account settings. From there, you can upgrade, downgrade, or cancel your subscription at any time. Please note that if you cancel, your access to premium features will continue until the end of your current billing cycle.
13. Is RiskClose suitable for all types of traders?
RiskClose is designed to support traders of all levels, from beginners to experienced professionals. The platform’s customizable rules and easy-to-use interface make it a valuable tool for anyone looking to manage their trading risks effectively.