How can we set trade restrictions on our account? Such as max daily loss and contract size limit on trades?

Unfortunately, AMP customers can not set custom daily loss limits or contract size limits. We enforce a default risk policy for all AMP customers. Here are the details.

If the Net Liquidity of an account reaches a Daily Loss Limit of 80%, open positions will attempt to be liquidated. Clients are responsible for monitoring their positions and are financially responsible for any losses generated by open positions in the account. AMP retains its right to liquidate positions in any account, at its sole discretion, with no forewarning. If the Risk Desk is forced to liquidate positions in any account due to either an 80% daily loss limit reached or to meet Initial Margin set by the exchange 5 minutes before the daily trading session close, there will be a $25 per contract liquidation fee charged. 

DayTrading margins are twice the displayed amount for account balances exceeding $100K