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Forum Having accounts at multiple different platforms Reply To: Having accounts at multiple different platforms

Ethan Weigand

LEVEL 2 : NOVICE

REVIEWS 11 | REPLIES 4

#1784

botzz

September 1, 2015 at 11:25 am

Hey Perla welcome aboard! To answer your question I believe it is very wise to have multiple accounts with different brokers and this is why I have two accounts personally. My one account is used for investing purposes example compounding my investment in order to make more money withdraw and reinvest in other investments etc. Is not used for personal reasons. My other account is for spending money that I would like to withdraw to pay bills buy things for myself or my family. This way I find it much easier to manage my risk and also maximize my profit. It also allows me to keep a much more clear head while trading and think things through more efficiently. It is because I am not focusing on the profits as much.

By separating my accounts I am also in a way separating anxiety and as a trader that is liberating. In my experience trading is very daunting on the mind and the more separation you can get from your emotions the better. By having multiple accounts this can alleviate a lot of the stress and sense of responsibility associated with trading. Remember this also works both ways though you do not want to spread yourself too thin and have 10 accounts that you do not know what the heck is going on with. Be smart and play the market, do not let the market play you.

Regards,
Ethan