Day trade AND Swing trade the same account/broker ?
I would like to day trade (no overnight) AND swing trade (with overnight).
However, I want the trades to be completely separate so I can day trade without seeing the swing trade in my DOM, nor change the position of the swing trade because I take a short term trade in opposite direction of the swing trade.
Does this mean I have to use two accounts ? Two brokers ? Are there brokers specialized in this kind of situation ?
All you have to do is request from your broker to open a sub account or related account based on th account documents already on file. Once you have two related accounts you can use one for daytrading and one for swing trading.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
The following user says Thank You to Ilanlm for this post:
The connection to your broker could be lost not only due to your own internet connection. It may be the broker or the clearing firm. You then have to call the trading desk and then they call the exchange it takes a lot of time and stuff like that usually happens when the market is very active.
That's of course given that they pick up. What if they don't? What if their servers fry, and their phones? Or your iphone's battery is too low to call? Just saying.
I use 3 different brokers. Everything under 2 is a suicide. With one broker the probability of shit happening may be "only" 1% per year, with two it's only 0.01%, basically non-existent.
You can then use one for day trading another for swings and as a back-up.
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Broker/Data: Cannon Trading Company / Ninja Trader/Rithmic, E-Futures trading platform
Favorite Futures: Gold and Crude Oil
Posts: 46 since Dec 2013
Thanks: 17 given,
Hello! What you can do is stay with the same broker but have two different platforms working if you are afraid of disconnection issues. Each clearing firm has more than several platforms they offer to clients.
There are more than a few platforms out there that have great depth of markets and are free. And I agree, having a broker that is technically reliable is a must to successful trading!
The following 2 users say Thank You to kpab702 for this post: