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Does Trade Station support multiple sub accounts like Oanda?
I am using TD Ameritrade right now, but am considering switching to TS because it has brokerage integration with Trading view which is nice.
I would like to only use the e micro for gold and silver but I want to be able to have different positions (ie go short and long at the same time), so i am thinking if I had 2 accounts I can swap between them using trading view when trading different strategies.
Does Trade station support this feature? I know Oanda does for Forex and its great for strategy automation. I didn't see anything on their website about it though.
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
Tradestation 'Brokerage' does not have sub-accounts. If you want to split your trades between two accounts, they will need to be separate accounts, with separate data.
Had another discussion on sub accounts recently here
You can have multiple tradestation accounts all tied to one platform, all tied to one datafeed (so you pay for data once).
BUT, the accounts do not share margin. So if you are long 1 ES in one account, and short 1 ES in another account, you need 2x margin to hold them (when really you are flat).
Thanks, do you by any chance have any experience with Tradingview? I made a demo account with TS and linked it through TV, but it won't let me open trades through the continuous charts, I have to create a separate layout that runs on another window to load the monthly contracts for order entry. Seems jury rigged to me. On forex all I have to do is use one chart... With futures I have to use a continuous chart that holds all of my drawings, but have to use another chart for order entry.
imgur.com/a/wBef95G
Update:
I think I figured it out. I am using the web client for trade station to manage my positions and trades, and I don't need multiple accounts either. If I am buying for the long term I just use a contract a couple of months in the future. Then I can just use trading view's paper trading to mark the orders on the screen for the continuous chart.
Ahh.. Don't you just love how complicated that was?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
Comparing apples and oranges.
Forex is a rolling spot instrument.
Futures are forward contracts for specific delivery months.
Let me ask you though, if you bought USD:EUR a month ago at 0.85 would your chart show you bought at 0.85 or would your chart show what your effective purchase price when you add in all the rollover rates? Continuous contracts are in a way showing you what the price chart looks like when you also consider all the rollover rates.
I guess what I am doing is complaining about why we have to type www. in front of a web page (well atleast before google) lol.
The problem is I don't have a good platform to trade futures. Tradingview was mainly designed for viewing charts (hence the name) and requires you to use the monthly charts instead of the continuous. Obviously since I'm a swing trader that won't work for me since those charts only display 3 months worth of data.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
You don't need www. if a website has a sub/child domain you can enter something in before the main url but otherwise its not needed.
I understand your issue completely. Most prop-level software (eg Trading Technologies) refers to contract months. A trader sat on a bank fixed income desk, doesn't look at the eurodollar continuous contract, he's looking at the expiry month that best matches his need to hedge or speculate. Most retail level software (eg Tradestation) looks at futures as continuous contracts, and hence making futures look more like stocks.
I've always wondered about the validity of using continuous contracts in some/many situations. Looking at a contract and saying "well over the last 3 months there's always been support at XYZ level" is BS. Because 3 months ago that level wasn't XYZ it was actually "XYZ + 3 rolls adjustments" which is a completely different price.
So how can you reliably trade futures for the long term? You're saying the continuous chart isn't very reliable because its essentially different contracts "stitched" together. But it contains years of historic data which is what you need to swing/long term trade. The other option is to use the monthly contracts which you can directly trade off of on most platforms, but doesn't contain enough historic data to make well educated trades.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
It's just an opinion, well not even an opinion, it's actually more a thought or question than opinion. It's also not a blanket - cover all - issue either. If the absolute market price is unchanged today from a month ago, but in between there has been say $1/bbl contract roll off in crude, then the price has actually gone up $1 and continuous charts will correctly show that. My thoughts are probably heavily influenced by the fact that I personally am a spread trader, and as far as I am aware there is no meaningful continuous (eg back-adjusted) spread chart - but then I don't use charts either. There are lots of successful traders that use continuous contracts though.
So my last question is, how can you trade futures for really long term movements? It seems to me with monthly settlements and built in leverage and order size that futures would be good for swing trading, but not long term investing. However I couldn't find any way to trade gold on a spot market like forex that is legal in the US. CFD's would be perfect for me since I could use sub accounts to isolate positions, make trades directly through trading view on the main chart, and manually specify order quantity. Why would such a perfect solution not be allowed here?