Max Loss Per Trade Mode
What it does
Chooses how the per-trade risk ceiling is expressed: a fixed dollar cap that never moves, or a percentage of your live account value that scales as the account grows or shrinks. Dollar mode needs no account value at all, so it still applies when the broker figure is unavailable. Percent mode needs a live NLV and is skipped entirely if none resolves.
When to change it
Use dollars when you want a hard, predictable ceiling per trade. Switch to percent when you want risk to scale with the account without revisiting the setting. Note the failure modes differ: if the broker NLV is unavailable, dollar mode still enforces while percent mode silently stops enforcing, leaving only the allocation cap.
Safe range
dollars or pct. Dollar mode is the safer default because it keeps working when account value cannot be read.
Example
Set to dollars and every trade is checked against the dollar cap. Set to pct and a $50,000 account with a 2% cap allows $1,000 of risk per trade, rising to $2,000 once the account doubles.