Drawdown and loss Monitor

Max Floating Loss

Monitors total unrealized loss across all open positions. Closes all when the limit is breached.

How it works

Max Loss Per Trade watches individual positions. By contrast, this rule monitors the combined floating loss across all open positions. If the total unrealized loss exceeds your threshold, PipsGuard closes everything.

This catches death by a thousand cuts, where no single trade is over the limit but the combined loss is far too large. It is particularly important for traders who scale into multiple correlated positions (e.g., buying EURUSD, GBPUSD, and AUDUSD simultaneously).

Configuration

Parameter	Default	Description
max_loss_percent	4.0%	Maximum combined floating loss as % of balance
max_loss_amount	0	Maximum loss in dollars (0 = use percentage)
loss_calc_mode	percentage	percentage or fixed_amount
auto_close	false	Automatically close all positions on breach

When this rule fires

Monitor: Continuously tracks combined unrealized P&L across all open positions. Notifies or closes all when the aggregate floating loss exceeds the threshold.

Best for

Traders with multiple correlated positions Scalpers with many simultaneous trades Anyone who has lost big from aggregate floating loss

Tips

Set this below your trailing drawdown limit as an early warning layer.
Enable auto_close for prop firm accounts where aggregate loss matters.
Pair with Max Positions Open to limit the number of positions contributing to floating loss.

Configure This Rule →

Set up max floating loss protection in your dashboard.