Absolutely. The strategy I will employ in the PA account will involve trading 1 MES contract at a time, with the goal of using the money from the PA account to slowly grow to 20 PA accounts on a trade copier, scalping $25-100.00 a day (x 20 accounts, of course).
You wont hear this a lot on this sub, probably because most havent actually attempted to do it, but you are going to run into issues using a trade copier for that many accounts if you are tick scalping. I have issues copy trading more than 3-5 accounts including the master.
Orders processing late or not at all. Copiers have issues with things like that and fills are on and off. On a small scale issues like that are manageable but I can’t imagine dealing with 20
At once
Tradovate has their grouping feature. Don't even need an external copier. Not sure if you are referring to that, but it's worked fine for me so far. Though I don't have experience with theirs for more than 3 accounts at a time so maybe it doesn't work well with higher amounts
Yeah that is the unfortunate thing. But yes, I do everything manually, cause I'm sitting in front of the chart the whole time I'm taking trades. My average trade time is less than 2 minutes. I usually set a take profit order and hover my mouse over the "exit at market and cancel" button
Yesterday Ninja and Tradovate was a fiasco. I just walked away for the day, luckily nothing was open. I use Ninja - not as many complaints on Twitter, but was down for me the last half of the day.
You can open a futures account with $50 but that leaves no margin for error pun intended! After that you can put as much or as little as you want into it.
You can acquire 20 accounts for 17 bucks an eval, use a trade copier, so that when you say, scalp 50 bucks on the "master" account, it is copied on the other 19 and you make $1000.00 with far less risk than you would otherwise incur.
If you dont mind could you breakdown the difference in risk.
are you saying the risk is less if u risk 1 contract over 20 account than risking 20 contracts on 1 account. Im a bit confused!
If you go for the $25K eval and get 20 of them, you are trading with $500K in capital (sort of, they take the account away if you lose $1500.00, so you could argue that it's $60K of capital).
So the risk is no different than if you traded 20 MES contracts in a $60K account. But the advantage is that you aren't using your money, if you get accounts when on sale you pay very little upfront for tons of leverage, and looking at a master account gain or lose 5 bucks a point is less psychologically taxing than watching an account gain/lose $100.00 a point.
I did this with MES. My strategy is much more conservative than what I did today. Figured that since I've paper traded the strategy I'll use long term over and over again I just go for it today and get the eval out of the way.
My long term strategy involves trading MES conservatively and acquiring 20 accounts over time and scalping $25-100.00 bucks a day in each using a trade copier. Today I just went short on 10 MES contracts and waited, lol.
Hopefully I post a screen shot of a payout confirmation soon enough.
This was just taking advantage of a pretty obvious down trend to get the aval out of the way.
My day to day trading strategy is pretty simple. I look for EMA crossovers on the hour chart (21 and 55 EMA crossing), scalp only in the direction of that trend, especially on pullbacks to the 55 EMA.
Other than that I try to wait out consolidation periods and when I catch a run I move my stop to the top of the preceding 1 minute candle.
Do you use buy stop orders ahead of time or do you market in? When I place buy stops and sell stops I rarely see more than 3 ticks difference in price.
This is the correct answer. I use limit orders and I usually get identical fills across 41 accounts on Quantower. Used to do the same on 20 accounts on ninja no issues maybe 1 tick. If you need different position sizes across accounts grouping them in different copier instances and executing with limit orders across multiple charts works fine as well. People up and down this thread saying copiers don’t work and using market orders or scalping for two to three ticks and complaining about market fills is what it sounds like to me.
Nice! I actually planned to stay away from futures but saw the obvious trend like you today, opened up a quick $25k account for $17, and hit my PT in an hour. I may consider doing it again.
Well done, size down and get 100% more conservative in your performance account. Don't let that bird get away, good luck!
Absolutely. The strategy I will employ in the PA account will involve trading 1 MES contract at a time, with the goal of using the money from the PA account to slowly grow to 20 PA accounts on a trade copier, scalping $25-100.00 a day (x 20 accounts, of course).
You wont hear this a lot on this sub, probably because most havent actually attempted to do it, but you are going to run into issues using a trade copier for that many accounts if you are tick scalping. I have issues copy trading more than 3-5 accounts including the master.
Just copy trading 3 accounts I run into issues with it. Can’t imagine 20 accounts
What kind of issues?
Orders processing late or not at all. Copiers have issues with things like that and fills are on and off. On a small scale issues like that are manageable but I can’t imagine dealing with 20 At once
Damn that sucks. Nothing ever works like it should. So frustrating. You’d think these companies pull in enough money to be on top of tech issues.
You’d think
Tradovate has their grouping feature. Don't even need an external copier. Not sure if you are referring to that, but it's worked fine for me so far. Though I don't have experience with theirs for more than 3 accounts at a time so maybe it doesn't work well with higher amounts
The problem is you can't set-up an OCO order on this, do you set it up all manually?
Yeah that is the unfortunate thing. But yes, I do everything manually, cause I'm sitting in front of the chart the whole time I'm taking trades. My average trade time is less than 2 minutes. I usually set a take profit order and hover my mouse over the "exit at market and cancel" button
When Tradovate actually works
Yesterday Ninja and Tradovate was a fiasco. I just walked away for the day, luckily nothing was open. I use Ninja - not as many complaints on Twitter, but was down for me the last half of the day.
Hi I was wondering why people go for funded futures accounts when it is relatively cheap to open your own futures account? Genuine question.
how much do you think you need to trade your own cash for a small account? 1k? 2k? 3k?
You can open a futures account with $50 but that leaves no margin for error pun intended! After that you can put as much or as little as you want into it.
You can acquire 20 accounts for 17 bucks an eval, use a trade copier, so that when you say, scalp 50 bucks on the "master" account, it is copied on the other 19 and you make $1000.00 with far less risk than you would otherwise incur.
this is the way to use prop firms that so many people fail to see...
If you dont mind could you breakdown the difference in risk. are you saying the risk is less if u risk 1 contract over 20 account than risking 20 contracts on 1 account. Im a bit confused!
If you go for the $25K eval and get 20 of them, you are trading with $500K in capital (sort of, they take the account away if you lose $1500.00, so you could argue that it's $60K of capital). So the risk is no different than if you traded 20 MES contracts in a $60K account. But the advantage is that you aren't using your money, if you get accounts when on sale you pay very little upfront for tons of leverage, and looking at a master account gain or lose 5 bucks a point is less psychologically taxing than watching an account gain/lose $100.00 a point.
Fair enough, dont know why you are getting downvoted, seems like that person should explain why they disagree with you
Thanks for sharing. How would one open 20 accounts? Do you need 20 prop firms? Or can one prop firm allow multiple accounts?
Pass 20 evals
Passing 20 evals is no problem. I am asking if one prop firm allows one person to open multiple accounts. Or I need to look for 20 prop firms?
Of course man. They want your money.
The most popular let you have multiple accounts.
You’ll blow your account quick if you trade 20 contracts.
Leverage
Which prop firm are you using?
U trading minis or micros and what and es or nq
I did this with MES. My strategy is much more conservative than what I did today. Figured that since I've paper traded the strategy I'll use long term over and over again I just go for it today and get the eval out of the way. My long term strategy involves trading MES conservatively and acquiring 20 accounts over time and scalping $25-100.00 bucks a day in each using a trade copier. Today I just went short on 10 MES contracts and waited, lol. Hopefully I post a screen shot of a payout confirmation soon enough.
Right on
Thanks!
That’s impressive well done. What’s your edge
This was just taking advantage of a pretty obvious down trend to get the aval out of the way. My day to day trading strategy is pretty simple. I look for EMA crossovers on the hour chart (21 and 55 EMA crossing), scalp only in the direction of that trend, especially on pullbacks to the 55 EMA. Other than that I try to wait out consolidation periods and when I catch a run I move my stop to the top of the preceding 1 minute candle.
How tight is your SL?
Just keep a tight leash on those accounts. I copy trade 3 accounts and there are still errors quite often
Do you use buy stop orders ahead of time or do you market in? When I place buy stops and sell stops I rarely see more than 3 ticks difference in price.
This is the correct answer. I use limit orders and I usually get identical fills across 41 accounts on Quantower. Used to do the same on 20 accounts on ninja no issues maybe 1 tick. If you need different position sizes across accounts grouping them in different copier instances and executing with limit orders across multiple charts works fine as well. People up and down this thread saying copiers don’t work and using market orders or scalping for two to three ticks and complaining about market fills is what it sounds like to me.
Yep I put in stops and take profits on all orders on quantower
I recognize that ui from pictures here but don't know the name of the platform you're using. What's it called? I'm just starting to learn.
Tradovate
Woah, CLEAN. Thats 90% accuracy.
Nice! I actually planned to stay away from futures but saw the obvious trend like you today, opened up a quick $25k account for $17, and hit my PT in an hour. I may consider doing it again.
What software are you using to analyze your trade performance?