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Copy Trading Thoughts?


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Copy Trading Thoughts?

 
Krav69
Denver, Colorado
 
Posts: 59 since Aug 2014
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I'm thinking of getting multiple funded accounts, but ran across an idea that might help traders who are borderline profitable. Copy trading.

Since it is easier to make $20 than it is to make $200, I'm curious if it's possible to have 10 accounts where one makes $20 (for example), since a new trader might be after a couple hundred of dollars per day anyway. Then, obviously, the trader would make $200 per day as easily as $20 per day, using the 10 copy traded accounts.

I currently trade the futures markets but view this concept of copy trading as a serious game changer since it could potentially take small winning traders and give them the ability to trade and earn a full time income. (I'm actually asking this question for several other traders who are curious besides myself).

Could I be wrong in my assessment? Are there any pitfalls that you guys are seeing, (aside from commissions, profit splits, etc.)?


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 jneedle 
San Jose, CA
 
Experience: Advanced
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Trading: Forex
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Frankly, I don't understand your thinking. If you have some method that makes $20 trading x contracts, trade 10x contracts in the same account to make $200. Why would you need 10 separate accounts?

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Mordecai
Melbourne Australia
 
Posts: 71 since Mar 2022
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I understand where you're coming from. Mentally I find it easier to trade 1 contract for a few points a day than 5 contracts. When I increase to 5 contracts, there is some sort of psychological shift that occurs in my head, and my trading changes for the worse. I think a trade copier might help trick my brain into thinking I'm trading a single lot, even though it's being copied to another 4 accounts. The downside of course is that a trade copier also copies your losing trades.

I see a 2nd benefit in that if you have say a dozen accounts, you can rotate through them, trading 3 accounts at a time, so that if you have a particularly bad account-busting day, you'll still have the others.

For traders who aren't affected by trading psychology, and who execute risk management flawlessly, it might still be useful to have multiple accounts and use a trade copier. If you've already maxed out the account size offered by prop firms and need more leverage. But I suspect anyone who competently trades 35 lots across multiple accounts is beyond such mortal concerns.

For me, multiple accounts and trade copiers might be a useful crutch until I get better. Still thinking on it, and I might experiment if I get more funded accounts.

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 syswizard 
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
Broker: Ironbeam, Rithmic
Trading: Emini ES / NQ / CL / RTY / YM / BTC
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jneedle View Post
Frankly, I don't understand your thinking. If you have some method that makes $20 trading x contracts, trade 10x contracts in the same account to make $200. Why would you need 10 separate accounts?

Agreed. Coordinating multiple account orders is a nightmare...especially for intraday trading.

 
Krav69
Denver, Colorado
 
Posts: 59 since Aug 2014
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I'm thinking it's still easier to make $20 than it is $200, so that would be my thinking. Yes, I'm aware that I can scale up....

But I didn't come up with the idea.

The guy who runs Neu Algo (https://neualgo.com/) mentions this method repeatedly, as does the guy who runs https://twoleggedpullback.com/ (Bye Bye Money on YouTube), and they both have funded accounts.

This seems to also be a thing with Apex Trader Funding and is mentioned recently in a webinar.

It seems to work for them, I guess, and they also mentioned something about better risk control with fewer contracts being used, to prevent their daily drawdown from getting hit.

Also, there is a Trade Copier program that works with NinjaTrader and some other platforms, so supposedly it's all quickly done and seamless, so you don't have to manually do anything.

 
 
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 syswizard 
Philadelphia PA
 
Experience: Advanced
Platform: Multicharts
Broker: Ironbeam, Rithmic
Trading: Emini ES / NQ / CL / RTY / YM / BTC
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Krav69 View Post
Also, there is a Trade Copier program that works with NinjaTrader and some other platforms, so supposedly it's all quickly done and seamless, so you don't have to manually do anything.

So how much does that cost ?

 
Krav69
Denver, Colorado
 
Posts: 59 since Aug 2014
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I'm told from the Apex Trader funding owner that that Trade Copier software is downloadable and costs $150.

 
 sienna 
Melbourne, Australia
 
Experience: Beginner
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Broker: Ninjatrader Brokerage
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That Apex trade copier will only allow copying between Apex accounts. It seems to be a white label copy of Replikanto from Flowbots. Replikanto lets you copy between different machines, different funding companies, between NT8 and Nt8, Nt7 and Nt8 and across different VPS etc etc, depending on the version and add ons. Its just a few $ extra. Apex version is very limited in comparison. Although it seems to be fine if only copying Apex to Apex, but I have not used it.

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Last Updated on October 9, 2022


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