PipFarm new feature is “Kill Switch,” where traders can set a stop loss or take profit in their PipFarm dashboard to close all positions.
PipFarm new feature is “Kill Switch,” where traders can set a stop loss or take profit in their PipFarm dashboard to close all positions.
PipFarm new feature is “Kill Switch,” where traders can set a stop loss or take profit in their PipFarmdashboard to automatically close all positions. This initiative follows a recent disclosure by the firm that revealed a staggering 95% of traders who failed their trading challenge did so by breaching the daily loss rule.
The Kill Switch is going to provide traders with an automated risk management tool. By allowing traders to set predefined stop loss and take profit levels within their PipFarm dashboard, the Kill Switch ensures that all positions in their cTrader account are automatically closed once these thresholds are reached. This automation is going to prevent traders from breaking critical rules or missing their profit targets due to manual errors or oversight.
The statistic of 95% failure due to daily loss violations was a wake-up call. The firm recognized the need for a solution to help traders maintain discipline and improve their chances of success. The Kill Switch is their answer to this challenge.
The introduction of the Kill Switch marks a significant step in PipFarm’s ongoing efforts to support its traders. By minimizing the risk of significant losses and ensuring that profit targets are easy to acheive, this feature is going to help traders navigate the volatile trading environment more effectively. The automated nature of the Kill Switch eliminates the emotional and psychological barriers that often lead to poor trading decisions, fostering a more disciplined and strategic approach.
Traders at PipFarm have welcomed the new feature, anticipating that it will not only enhance their trading performance but also increase their overall success rates. As PipFarm continues to innovate and provide advanced tools for its traders, the Kill Switch stands out as a pivotal development in promoting better risk management and disciplined trading practices.
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