August 29, 2015 at 8:02 pm
My first post on the forum. My name is Perla btw 🙂
Do you think it would be wise to have an account at each different platform provider? Example: SpotOption, TechFinancials etc.
Or is it best to make up your mind and stick to only one of them? I am sure each have their positives and negatives.
Thank you in advance.
August 29, 2015 at 8:11 pm
Nice profile picture btw hahaha 😉
I honestly think it comes down to person preference. There is no right or wrong answer here. Some platform providers might offer something that the other doesn’t. And you might like both features. I don’t suggest going all crazy and opening accounts left and right.
August 31, 2015 at 12:42 pm
Hi there Perla, my experience has taught me to stick with something that you are familiar with.
You need to search for a platform that you like. Then get used to trading with the same platform. This way it will become second nature and you can just focus on the trading aspect and not where to select what. It’s the worse thing to miss out on a perfect trade searching where to select what. Anyway you get my point. It comes down to what makes you comfortable at the end of the day.
Hope this helps you in your decision making
August 31, 2015 at 4:54 pm
I don’t care so much which platform I use. All I care about is if the broker is any good. I will do my research and as long as their withdrawal times are good, awesome trade execution, zero to no spread… then I will be more than happy to give them a try, regardless of which platform they use.
This being said if I find that the platform is really crappy I would probably move to another broker instead.
September 1, 2015 at 11:21 am
I don’t do it anymore and I will tell you why. I had this issue before when i tried to trade 3 accounts at once and ended up blowing all of them because i was trying to do too much at one time. I would get a signal and then place it on all accounts and things went well for a bit, the only problem is I was using a martingale strategy and the brokers had different slippage and servers so they never had the same prices! The result in the end was me ending up more frustrated than anything.
At the end of my trading days I would compare the results of all my different accounts and they were always different and each day it got worse losing more and more profit. Moral of the story is if you are going to do this do not be greedy or you will end up broke, and I think this type of style is best left for the more experienced trader.
I hope this answered your question and welcome to the forum.
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.
September 1, 2015 at 11:33 am
I am definitely a 24options fan boy and will stay with them! Have been with them for many many years and am very happy. Not one bad experience with them yet (fingers crossed).
But anyway so in my experience one broker is enough as long as you trust them but it probably is not a bad idea to spread out a bit. Personally I am fine with 24options and find it hard enough managing one account let alone two. Welcome by the way..
September 1, 2015 at 11:48 am
Hello there and welcome. Basically I will tell you my opinion and you can go from there. I personally have 3 brokers I use and will not recommend any names since I do not believe in recommending brokers I think each one has its advantages and disadvantages that need to be tested in order to see what works best for you. I have three brokers all three in different currencies so that way I can diversify my assets. I do this for security reasons also just in case one broker decides to go down and/or not payout for some reason.
I always have a backup and I trade the same strategy on all of three accounts so they all stay in accordance with each other when it comes to profit.
Good luck 🙂
September 1, 2015 at 11:54 am
Hey perla welcome to the forum and good luck in advance. I personally only use one broker but am sure many others use multiple. My reasoning is simply comfort and also cash flow. Eventually I am thinking of opening an account with 24options but for now I will stick with my one account at markets world since I am used to it. Good luck trading and welcome again!
September 16, 2015 at 10:39 am
i think it is better to start with one plattform (specially if you are beginner)
To concentrate your self on one platform to make big profit instat of loosing on each platform because you could maybe loose your overview.
I also used to have multiple accounts but when i lost 1000$ on 3 of my accounts it was frustrating…
You must be logged in to reply to this topic.