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Trading multiple accounts at the same time?


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Trading multiple accounts at the same time?

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  #1 (permalink)
 JS12 
NY
 
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Hi guys,

Question for you. I use Ninja Trader as my platform (love the chart trader), and I currently have an account with only one broker. However, after the PFG scandal I have been re-thinking things. Perhaps I should spread out my money into multiple accounts?

For example if I have $50,000 in one account now, why not have 5 separate accounts with $10,000 in each one? This way if one goes down, it's not such a bad loss. But this only makes sense if I can trade all 5 accounts at the same time. So instead of trading 10 contracts from the one account, I could now trade 2 contracts from each of the 5 accounts at the same time.

Does anyone know if this is possible?

Thanks everyone.

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  #3 (permalink)
dtrade88
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JS12,

Assuming you have the NT multibroker license, the only way to do it is to have multiple instances of NT running. Each NT will be connected to a separate broker account. A single instance of NT allows you to be logged into no more than one broker account at the same time. In order to have 5 instances of NT running, you probably need 5 separate PC's. I don't have first hand experience with VM (virtual machine), but I believe it's not recommended to run more than one instance of NT on a single PC because NT is a bit of a resource hog.

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  #4 (permalink)
 JS12 
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dtrade88,

Thanks a lot for the help. Just wondering, Big Mike said that he has mutiple accounts. Do you or does anyone else know what the purpose of having multiple accounts is if you can't trade them at the same time? I don't see the point. All having multiple accounts does is limit the amount of contracts I can trade at any given time.

Thanks.

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 Koepisch 
@ Germany
 
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Broker: Mirus Futures/Zen-Fire
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It would be nice if the "Multi Broker" user can share their experiences.

Are these assumptions for ONE Multibroker NT License correct?
1. One instance of NT per computer
2. NT can only be connected to a single broker simultaneously
3. I can switch the broker manually
4. I couldn't switch the brokers by ninjascript to spread my trades
5. If i use 3 computer then i can start 3 NT instances which can be logged into 3 brokers simultaneously

If Point 5 is correct and i can really use X instances of NT with X broker with ONE lifetime multibroker license, then i will use this scenario too and i would think about a Master-Slave trade copier mechanism. Using VM Ware would PERFECTLY match the needs, because NT only uses 1 core heavily - a trading server has much more cores to work with.

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 PandaWarrior 
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Koepisch View Post
It would be nice if the "Multi Broker" user can share their experiences.

Are these assumptions for ONE Multibroker NT License correct?
1. One instance of NT per computer
2. NT can only be connected to a single broker simultaneously
3. I can switch the broker manually
4. I couldn't switch the brokers by ninjascript to spread my trades
5. If i use 3 computer then i can start 3 NT instances which can be logged into 3 brokers simultaneously

If Point 5 is correct and i can really use X instances of NT with X broker with ONE lifetime multibroker license, then i will use this scenario too and i would think about a Master-Slave trade copier mechanism.

just email NT support with this question and they will give you the exact details.

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 Koepisch 
@ Germany
 
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PandaWarrior View Post
just email NT support with this question and they will give you the exact details.

Thanks, but i don't care about the NT stuff anymore. The only thing i heard again and again is "It is beyond support ... bla bla bla". The daily heavy users can lift the fog and provide credible answers.

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 ThatManFromTexas 
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JS12 View Post
Hi guys,

Question for you. I use Ninja Trader as my platform (love the chart trader), and I currently have an account with only one broker. However, after the PFG scandal I have been re-thinking things. Perhaps I should spread out my money into multiple accounts?

For example if I have $50,000 in one account now, why not have 5 separate accounts with $10,000 in each one? This way if one goes down, it's not such a bad loss. But this only makes sense if I can trade all 5 accounts at the same time. So instead of trading 10 contracts from the one account, I could now trade 2 contracts from each of the 5 accounts at the same time.

Does anyone know if this is possible?

Thanks everyone.


dtrade88 View Post
JS12,

Assuming you have the NT multibroker license, the only way to do it is to have multiple instances of NT running. Each NT will be connected to a separate broker account. A single instance of NT allows you to be logged into no more than one broker account at the same time. In order to have 5 instances of NT running, you probably need 5 separate PC's. I don't have first hand experience with VM (virtual machine), but I believe it's not recommended to run more than one instance of NT on a single PC because NT is a bit of a resource hog.



Koepisch View Post
It would be nice if the "Multi Broker" user can share their experiences.

Are these assumptions for ONE Multibroker NT License correct?
1. One instance of NT per computer
2. NT can only be connected to a single broker simultaneously
3. I can switch the broker manually
4. I couldn't switch the brokers by ninjascript to spread my trades
5. If i use 3 computer then i can start 3 NT instances which can be logged into 3 brokers simultaneously

If Point 5 is correct and i can really use X instances of NT with X broker with ONE lifetime multibroker license, then i will use this scenario too and i would think about a Master-Slave trade copier mechanism. Using VM Ware would PERFECTLY match the needs, because NT only uses 1 core heavily - a trading server has much more cores to work with.

@JS12 @dtrade88 @Koepisch

If you have a multibroker license, you set up the accounts for each broker ... then set up an account group.

When you are trading, you select the account group as the trading account. Any order entered will be sent to each account in the group.

If you have multiple accounts with one broker, example: a regular account and a 401K account, you don't need a multiuser license , you just need to setup the account group. You can test this by setting up multiple sim accounts.


I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #9 (permalink)
dtrade88
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JS12 View Post
dtrade88,

Thanks a lot for the help. Just wondering, Big Mike said that he has mutiple accounts. Do you or does anyone else know what the purpose of having multiple accounts is if you can't trade them at the same time? I don't see the point. All having multiple accounts does is limit the amount of contracts I can trade at any given time.

Thanks.

JS12,

Having a backup account is a must in my books. That said, having a backup account and trading the backup account are two different things. Personally, I trade my primary account and have everything setup so that I can painlessly switch over to the backup account should something happen to the primary account. It certainly helped having a Plan B account on standby and ready when Knight situation developed not too long ago.

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 Koepisch 
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Thanks @ThatManFromTexas.

Can i group accounts with various data feed provider. For instance optimus/rithmic and mirus/zenfire?

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 Big Mike 
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JS12 View Post
Big Mike said that he has mutiple accounts

I use Sierra Chart. I have multiple copies of Sierra Chart open. One for charting, and several others for execution DOMs linked to brokerages. At first, I thought it was stupid this way, having to launch and maintain multiple copies of a program. But it is really straight forward and simple enough, and works perfectly. Charts are provided by DTN, and then other copies of Sierra are tied to different brokers depending on what I am doing (equities, swing, futures, spot forex, etc).

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 ThatManFromTexas 
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Koepisch View Post
Thanks @ThatManFromTexas.

Can i group accounts with various data feed provider. For instance optimus/rithmic and mirus/zenfire?

@Koepisch

You would need a multibroker license to group accounts from different brokers.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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 Aragorn 
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@NinjaTrader, @TopstepTrader,

I am getting mixed messages on this. So, please forgive me if I ask this one more time.

I want to open two simultaneous accounts with TopStep Trader. I want to open two accounts because I want to use one account to only take Long trades and the other account to take Short trades. This will allow me to take a Long trade and a Short trade at the same time without closing my positions.

If I had only one account and I was Long then opening a Short position would close the Long position and I would be flat. But by trading with two accounts I can have open Long positions from one account and open Short positions from the other account at the same time without closing each other out because they are in different accounts.

I currently only have a NinjaTrader Single Broker License. But, in order to have two accounts with TopStep, I need a NinjaTrader Multi Broker license, correct?

Further, I do NOT currently have a Funded account with TopStep. I still have to go through the TopStep Combine or evaluation process. Can I still get the TopStep discount for "upgrading" to a NinjaTrader Multi Broker license? The amount to "upgrade" to a Multi Broker license would be $250. I can pay this amount even without a TopStep Funded account and still get a Multi Broker license, correct?

Sorry about this but I am getting different responses from both TopStep and NinjaTrader about what I can and cannot do in regards to what I am trying to do in opening two separate trading accounts with TopStep. Breaking it down as simply as I can seemed the only way to get clarification.

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 TraderTS 
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Aragorn View Post
@NinjaTrader, @TopstepTrader,
I currently only have a NinjaTrader Single Broker License. But, in order to have two accounts with TopStep, I need a NinjaTrader Multi Broker license, correct?

I am a Swing Trader who trades Intraday as well... Therefore, I have three sub-account with AmpFutures using NinjaTrader8 Single Broker license--setup as same UserID/PW with drop-down list for each sub-account to Swing Long or Swing Short, and Intraday Long/Short. I can only open ONE NT8 platform at a time but trade all these accounts at the same time.

For years, AmpFutures no longer offering NT8 platform; not sure if NinjaTrader Brokerage requires Multi-broker license but it's NOT just filling out the simple request form... you really have to write an explanation as to WHY you want to setup and HOW you trade this way... for approval process.

Good luck!


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@NinjaTrader, @TopstepTrader,

I am getting mixed messages on this. So, please forgive me if I ask this one more time.

I want to open two simultaneous accounts with TopStep Trader. I want to open two accounts because I want to use one account to only take Long trades and the other account to take Short trades. This will allow me to take a Long trade and a Short trade at the same time without closing my positions.

If I had only one account and I was Long then opening a Short position would close the Long position and I would be flat. But by trading with two accounts I can have open Long positions from one account and open Short positions from the other account at the same time without closing each other out because they are in different accounts.

I currently only have a NinjaTrader Single Broker License. But, in order to have two accounts with TopStep, I need a NinjaTrader Multi Broker license, correct?

Further, I do NOT currently have a Funded account with TopStep. I still have to go through the TopStep Combine or evaluation process. Can I still get the TopStep discount for "upgrading" to a NinjaTrader Multi Broker license? The amount to "upgrade" to a Multi Broker license would be $250. I can pay this amount even without a TopStep Funded account and still get a Multi Broker license, correct?

Sorry about this but I am getting different responses from both TopStep and NinjaTrader about what I can and cannot do in regards to what I am trying to do in opening two separate trading accounts with TopStep. Breaking it down as simply as I can seemed the only way to get clarification.

With NinjaTrader you would not need a Multi Broker License Key to do this. There are however two different scenarios to consider and are dependent upon TopStepTrader.

1. If they are able to open two accounts and tie them both to the same Rithmic login then you will be fine.
2. If they are unable to open two accounts under the same login then you would need to have two separate instances of NinjaTrader to run each account as this is a limitation of connection adapter. This would require two Live Single Broker License keys per our terms of service. We would provide a discount for a second Live Single Broker license key which is $100 off of the $1099 cost.

If you have further questions, please send an email to platformsales@ninjatrader.com and ask for James (he is our VP of Customer Service) in the subject line of your email.

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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 Aragorn 
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NinjaTrader View Post
With NinjaTrader you would not need a Multi Broker License Key to do this. There are however two different scenarios to consider and are dependent upon TopStepTrader.

1. If they are able to open two accounts and tie them both to the same Rithmic login then you will be fine.
2. If they are unable to open two accounts under the same login then you would need to have two separate instances of NinjaTrader to run each account as this is a limitation of connection adapter. This would require two Live Single Broker License keys per our terms of service.

@TopstepTrader,

Can you shed some light on the scenarios described by NinjaTrader? Please read my original post on this thread for an explanation of what I am trying to do.

Your input will give me the information I need to proceed.

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 Aragorn 
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Hi,

"2. If they are unable to open two accounts under the same login then you would need to have two separate instances of NinjaTrader to run each account as this is a limitation of connection adapter. This would require two Live Single Broker License keys per our terms of service. "

No if you want you can use a Multibrokerage license to keep both accounts connected at the same time. There can only be 1 trading account per USERID so to have 2 different accounts you will need to sign up with a different email address and purchase a new Evaluation there as well. Keep in mind that you can have multiple Evaluation accounts but only one Funded trading account. If you complete both the Evaluation accounts one of them will be kept as backup in case something happens with your current Funded trading account.

Also we provide a free license key for Ninjatrader only during the Evaluation period. You can find it in the link below.
https://help.oneuptrader.com/help/ninjatrader-8-connection-guide

If you have other questions just access our help center page, most of the answers are there.
https://help.oneuptrader.com/help-center

We hope for you to join us and best of luck in your trading endeavors.

Regards,

Bruce

OneUp Trader Team


I would assume that TopStep Trader will answer along the same lines. Apples don't fall far from trees kind of thing. That said, it may be that having one account with TopStep and one account with OneUp may be required.

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 Aragorn 
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NinjaTrader View Post
With NinjaTrader you would not need a Multi Broker License Key to do this. There are however two different scenarios to consider and are dependent upon TopStepTrader.

1. If they are able to open two accounts and tie them both to the same Rithmic login then you will be fine.
2. If they are unable to open two accounts under the same login then you would need to have two separate instances of NinjaTrader to run each account as this is a limitation of connection adapter.

If I can only have one funded account with TopStep Trader and one funded account with OneUp Trader then I would need a Multi-Broker License, correct? (Sorry, this is all new to me so I'm trying to avoid any surprises.) They both use Rithmic but they'd both be supplying their own data feeds even if it's from the same source. The SuperDOM or ChartTrader would have different options from the "Accounts" drop-down, correct? One account from TopStep and one account from OneUp.

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Aragorn View Post
If I can only have one funded account with TopStep Trader and one funded account with OneUp Trader then I would need a Multi-Broker License, correct? (Sorry, this is all new to me so I'm trying to avoid any surprises.) They both use Rithmic but they'd both be supplying their own data feeds even if it's from the same source. The SuperDOM or ChartTrader would have different options from the "Accounts" drop-down, correct? One account from TopStep and one account from OneUp.

If you have further questions, please send an email to platformsales@ninjatrader.com and ask for James (he is our VP of Customer Service) in the subject line of your email.

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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 Aragorn 
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This only applies if you want to use the NinjaTrader platform to take your trades.
TopStep Trading only allows for One Funded account.
OneUp Trading only allows for One Funded Account.
NinjaTrader will only connect to One account at a time. You only need a Single Broker License.

If you want to take two opposing sides, a Long from one account and a Short from the other account then you would have to be running NinjaTrader on two separate computers being connected to each vendor's data feed.
You would need Single Broker Licenses for both NinjaTrader platforms that are running on the separate computers.

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Aragorn View Post
This only applies if you want to use the NinjaTrader platform to take your trades.
TopStep Trading only allows for One Funded account.
OneUp Trading only allows for One Funded Account.
NinjaTrader will only connect to One account at a time. You only need a Single Broker License.

If you want to take two opposing sides, a Long from one account and a Short from the other account then you would have to be running NinjaTrader on two separate computers being connected to each vendor's data feed.
You would need Single Broker Licenses for both NinjaTrader platforms that are running on the separate computers.

This is specific to Rithmic and the combines you reference. NinjaTrader supports having multiple accounts, multiple connections to different brokers from a single instance of NinjaTrader.

Disclosure: This communication is sent to you by NinjaTrader, LLC, a software development company which owns and supports all proprietary technology relating to and including the NinjaTrader trading platform.
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 Aragorn 
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Aragorn View Post
This only applies if you want to use the NinjaTrader platform to take your trades.
TopStep Trading only allows for One Funded account.
OneUp Trading only allows for One Funded Account.
NinjaTrader will only connect to One account at a time. You only need a Single Broker License.

If you want to take two opposing sides, a Long from one account and a Short from the other account then you would have to be running NinjaTrader on two separate computers being connected to each vendor's data feed.
You would need Single Broker Licenses for both NinjaTrader platforms that are running on the separate computers.

Items of note:
1) Once you select a trading platform with TopStep you must continue using that platform. You can not change it.
2) OneUp allows you to change trading platforms.
3) In addition to NinjaTrader I also use BookMap. BookMap is a trading platform though I use it more as a tool than as a platform. TopStep supports both TSTrader and BookMap but does not support a connection to both TSTrader and BookMap at the same time.
4) OneUp will support a connection to both NinjaTrader and BookMap at the same time.

The takeaway is that buying another NinjaTrader License would not be necessary. There are other trading configurations I can and will use. Just be sure that whatever platform you want to use with TopStep is the platform you are willing to use from start to finish as you can't change it.

For OneUp I will use my NinjaTrader platform and probably BookMap.
For TopStep I will use either TSTrader (I want to try their 14 day trial of it) or BookMap.
(I just bought BookMap not too long ago and I'm a little leery of it's order execution and it's trade management- but my apprehension is not them it's me. I just think you should be 100% comfortable with your trading platform.)

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Aragorn View Post
@NinjaTrader, @TopstepTrader,

I am getting mixed messages on this. So, please forgive me if I ask this one more time.

I want to open two simultaneous accounts with TopStep Trader. I want to open two accounts because I want to use one account to only take Long trades and the other account to take Short trades. This will allow me to take a Long trade and a Short trade at the same time without closing my positions.

If I had only one account and I was Long then opening a Short position would close the Long position and I would be flat. But by trading with two accounts I can have open Long positions from one account and open Short positions from the other account at the same time without closing each other out because they are in different accounts.

I currently only have a NinjaTrader Single Broker License. But, in order to have two accounts with TopStep, I need a NinjaTrader Multi Broker license, correct?

Further, I do NOT currently have a Funded account with TopStep. I still have to go through the TopStep Combine or evaluation process. Can I still get the TopStep discount for "upgrading" to a NinjaTrader Multi Broker license? The amount to "upgrade" to a Multi Broker license would be $250. I can pay this amount even without a TopStep Funded account and still get a Multi Broker license, correct?

Sorry about this but I am getting different responses from both TopStep and NinjaTrader about what I can and cannot do in regards to what I am trying to do in opening two separate trading accounts with TopStep. Breaking it down as simply as I can seemed the only way to get clarification.

Hi @Aragorn. Hopefully, we can clear this up for you. You are able to open two Trading Combines under one account. This one account can be connected to Ninja Trader. It can be a little tricky setting this all up, so if you decide to purchase the two Trading Combines you can contact our Trader Support team and we can do a screen share with you to show you how it's done. It is important to know that while you can have two Trading Combines, you CANNOT have two Funded Accounts. Whichever Trading Combine qualifies first for a Funded Account will be the only Funded Account activated.

While you are welcome to try this method, we do not reccomend it. Our Performance Coaches will advice against it as it will not set a trader up for any realist success. If you have additional questions specific to your account, you can contact us at support@topsteptrader.com or by phone at (888) 407-1611.

Trade well.

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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Last Updated on May 9, 2019


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