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Nice Petko, a bit off topic but what are your intentions with multiple accounts?
Mine is mostly spreading the risk over a couple of accounts and as soon as they are 100% ROI i will Compound the returns with another small account and more EA’s and let the old one run as printing machines until they self destruct (or I change EA’s)
This way I can have a Portfolio spread over multiple accounts, It is all about ROI anyway. 🙂
I thought that running 10EA’s on a 1:500 200usd account would be too much but it looks good so far.
I’m Testing this theory now on Demo and it looks promising.
Hello Dommech,
What you say makes sense, but I would add one thing here – take profits every month!
It is very important in trading to take your profits. I know everyone wants to build huge account(in your case many small accounts with EAs trading inside) BUT you should withdraw some profits at the end of the month or every 3rd month. Many people trade, and they are greedy to make it more and more, so at the end of the day they might have huge accounts but they do not enjoy it.
The joy intrading is when you see profits in the account history, I know that, but the cherry on the top of the ice cream is when you spend the profits for something…vocation, presents for the favorite people, dos’t matter. This is why we do it.
So an example strategy is to withdraw at the end of the month 20% of your profit from the past month. The rest you can use for more trading..
What I wanted to say is that it is great to increase the accounts and the balance, but do not forget to actually use these profits.
Now, regarding the system. I simply diversify the risk, and because I use different systems, trading portfolios, different currency pairs, I prefer to keep each one on different account to monitor it easier.
Your system sound really good! I will be happy if you keep us informed how it goes. Sharing some screenshots, results will be useful for everyone.
Cheers,
Thank you for the information Petko! My thoughts were to withdraw 50% of the monthly profits from every account that is break even (100%ROI)
I will start a Journal here very soon on my findings and so other people can pick what they want to use or add to so we can make it even better.
Overall I think my money works harder when using 1:500 leverage and multiple accounts
Cheers!
Yes, if you are about to use small accounts it is good to use 1:500, but always with a smart lot traded 🙂
Please, make it clear what you mean by withdraw 50% of every account that is break even?
What do you men with “smart lot traded? 🙂 I Use 0.01 lots
By Break even I mean If i start up with a 200usd account and at 400usd I would withdraw 200 to make it Break even (Risk free) Later I would withdraw 50% monthly from that account
Hey Dommech,
Glad to hear from you again. Yes, I mean to trade with small lots 🙂 You are doing great job!
Cheers,
Dommech, I think Petko asked you because as you know Break Even is when we put the SL on the entry level.
When you increase 200USD account to 400USD, you can bravely say that you Doubled your account or you Made 100%!
Hello Haliffa,
yes you are talking from the trading point of view. When we talk about profit in the accounts we can say it is kind of break even, so we are not risking anymore the initial capital, but you are very right that this is 100% profit.
Actually Dommech, that is a dream profit for many traders.
Hello all,
does someone knows a broker who allows 1:1 leverage. I have some saved money and just want to change the currency, and keep it in different currency.
Hello Viktor,
I do not think that the Forex brokers will be suitable for what you need. It is better just to exchange the currency in the bank. This way you will not pay swaps, even you find such a broker with 1:1 leverage. Personally I have not heard of one. The brokers want you to trade, so they can benefit the spread and the swap.
Hi Viktor,
yes, if you want to keep your savings in any currency better use the bank because brokers will always charge you.
The idea in trading is that we exchange and take profits quickly, anyway if holding the positions long time, the swap will eliminate the profits.
Hey Thyago,
the most important is the risk management you follow. I am a fan of using high leverage with smart risk management.
Me too, Petko! If a trader uses small leverage but puts all the money into trades, that is still very risky.
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