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Day trade AND Swing trade the same account/broker ?
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Day trade AND Swing trade the same account/broker ?

  #1 (permalink)
Elite Member
Paris, France
 
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Day trade AND Swing trade the same account/broker ?

Hi,

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 ?

W.

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  #2 (permalink)
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  #3 (permalink)
Trading Apprentice
Toronto, Canada
 
Futures Experience: Beginner
Platform: CTS T4
Favorite Futures: TF,YM
 
Posts: 19 since Sep 2011
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Hi,

I use CTS T4. You can create sub-accounts from the front-end. I never use this feature. But, i believe this is what you looking for, one broker, one platform, several sub-accounts.

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  #4 (permalink)
 Vendor: www.cannontrading.com 
Los Angeles, CA /USA
 
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Platform: Sierra, CQG, TransactAT
Favorite Futures: Crude Oil
 
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wwwingman View Post
Hi,

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 ?

W.

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.
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  #5 (permalink)
Trading for Fun
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Get a second broker. You need it anyways. What do you do when the connection's lost? Happened to me at least five times already.

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  #6 (permalink)
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ReaM View Post
Get a second broker. You need it anyways. What do you do when the connection's lost? Happened to me at least five times already.

I can understand the logic of two accounts for splitting the risk (MFGlobal ..).
But, I do not understand the logic behind a second broker, for technical reasons.

When choosing a broker, as a day trader, I believe reliability is a very important factor.
So ...
* I choose a broker that is technically reliable
* My DOM is remote on a highly reliable platform.

If my internet/electricity/computer goes down I connect to the remote dom using 3G with a secondary computer (actually, it is an iPad).
If my DOM goes down I take my phone and stop the trade.

This means, I do not think I need a second broker because of technical risk.

Regarding swing trades, I don't even use the dom. I put the target/stops disconnect and come back tomorrow.
No technical risk.

Have I missed something in your answer ?

W.

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  #7 (permalink)
Trading for Fun
Los Angeles
 
Futures Experience: Advanced
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ReaM's Avatar
 
Posts: 127 since Mar 2011
Thanks: 96 given, 95 received

it's up to you.

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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  #8 (permalink)
Trading Apprentice
Sherman Oaks, CA / USA
 
Futures Experience: Intermediate
Platform: Rithmic / OEC
Broker/Data: Cannon Trading Company / Ninja Trader/Rithmic, E-Futures trading platform
Favorite Futures: Gold and Crude Oil
 
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Posts: 46 since Dec 2013
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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!


wwwingman View Post
I can understand the logic of two accounts for splitting the risk (MFGlobal ..).
But, I do not understand the logic behind a second broker, for technical reasons.

When choosing a broker, as a day trader, I believe reliability is a very important factor.
So ...
* I choose a broker that is technically reliable
* My DOM is remote on a highly reliable platform.

If my internet/electricity/computer goes down I connect to the remote dom using 3G with a secondary computer (actually, it is an iPad).
If my DOM goes down I take my phone and stop the trade.

This means, I do not think I need a second broker because of technical risk.

Regarding swing trades, I don't even use the dom. I put the target/stops disconnect and come back tomorrow.
No technical risk.

Have I missed something in your answer ?

W.


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  #9 (permalink)
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kpab702 View Post
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!

I came to post this! Good advice. Trade one account on Ninja, and the other on OEC/ whatever else they may have.

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