Your own limits

Rules you set on yourself in Lance: a daily loss limit, a leverage cap and more, that hold you to your plan.

5 minLesson 2 of 32 questions at the end

Key ideas

1You can set your own limits on top of your community’s: a daily loss limit, a max leverage, a largest order, a pause after a liquidation and a cap on copies a day.
2Tightening a limit works straight away. Loosening one waits 24 hours, so a bad moment can’t undo a calm decision.
3Limits only stop new risk. Closing, take profit and stop loss, and cancelling orders always work.
4The daily loss limit looks at the last 24 hours, and blocks new trades once you reach it.

Daily loss limit: new trades stop once you have lost this much in the last 24 hours, open positions included.
Max leverage: below your community’s, if you want less.
Largest order: a cap on each position size.
Pause after a liquidation: no new trades for 1, 4 or 24 hours after one, to stop a revenge trade.
Copies a day: a cap on trades copied from wallets you follow.

1
You tighten a limit
It applies straight away, in Telegram and in Lance Trade.
2
You loosen or remove one
It waits 24 hours, and Lance shows when it will apply.
3
A limit stops you
You can still close positions, change or cancel TP and SL, and cancel orders. Only new risk is blocked.

The wait is the point: the moment you most want to lift a limit is usually the moment it is protecting you.

Setting limits after a big loss instead of before. Set them on a calm day.
Raising a limit the moment it stops you. The 24-hour wait is there for that moment.

Question 1 of 2

You loosen your daily loss limit. When does the new limit apply?

Keys 1 to 3 pick an answer, Enter checks it

Open Your limits from your stats or your account menu. They apply in Telegram and in Lance Trade.