I like using different fcms incase 1 goes bankrupt or goes down on a platform or if they dont answer the phones. more of a redundancy safety net. i know my positions i can exit them at a different fcm if i want too. Also some brokerages have better option pricing or they have discount agreements on news services and add ons. Lastly it allows me to put exact same orders in on the platforms and then check time and sales to see which one fills faster or better based.
based on which fcm im using or what risk protocol they are using. also many different fcms offer different execution and charti g platforms and some brokerages offer it for free. so if you have 2 brokerages you can get 1 like trafdeovayte that lets you trade from your phone and one like tt that has colocated execution if u think that will help you.
My small account challenge account at tradeovate has been approved! I am going to do a few trades tonight so i can check fees and commissions and the platform set up for tomorrows open. Have a great night.
The account at tradeovate is not funded yet. I did a few warm up trades on my other platform. just working on being initially very conservative with this small account challenge. today i am looking for vaccine news and negative news about anti vaxers which is a great movemnet. out immune systems can beat covid if you are already healthy it is nuts IMO to require all of us to take a vax. indexes have rallies hard and are due for a mild selling off and we will soon very soon have some huge sell days as hedges are taken off and funds lock in profits for the year,. I am still bullish but the mkt is lofty especially the NQ. the sp500 has been doing well lately because of oil and i likek gold down here .. a lot
i said this was a work in progress and I am finding myself thinking about this journal or trade blog more than i realized. I should have everythign set up on this tradeovate account today and hopefully by lunch can put on some winning trades. I will like i said from time to time throw out some trade ideas or some knowledge or just random thoughts in my head. I am buying a stock called wrap (wrtc) technologies. this stock is a gamble ok. know that but i think we get a nice run at least back up to 8 bucks and maybe 15 if they can get the gimmickyness out of the product and get some solid results. BIDEN should do police reform and less shootings more heroism will be a great benefit to this stock. again it is a gamble. What is on your bedside table? me.. research papers on the markets.
put a couple more positions on in the NQ as if this was my small trade challenge.. it is possible to make it work with small numbers too but you gotta be really careful with your points of entry and exit not unlike a large account but i am more cognizant of impactful even a bad 1 lot trade will potentially be to my small account. FUN for sure. just loving it and having fun and that is something few talk about..why do this unless when you are trading it is actually F U N !
Think about the question you just asked me? not trying to sound sarcastic but I don't do anything with trading or reading about that wont possibly help my edge. but it might not help you and it helps with the sleep a lot too!
ok my account is open and funded at tradeovate. Let the small account challenge begin. I am not used to the platform at all so do not expect me to do as well as i was with my other account right off the bat. it takes a lil time to get comfortable with a new execution platform. i wired 1700 thinking i could use 500 towards the black friday special deal but they wanted me to pay for that separately since it was so close to the cut off time. I now have 1,691 dollar after paying for top of book only quotes in a bundle with the cme non professional for comex nymex cbot and cme. 1,700 is still my starting amount i am 9 dollars in the hole and actually i am negative 499 plus 9. but we will add in those expenses later.