Automated Money Management between two different accounts?
I have seen some traders running more than one account from the same broker as a money management system.
One account is used for live trading while the other (or sometimes even more than one) is just a "savings account".
Some traders equalize accounts on a daily basis while others do it weekly or monthly.
In the event a bad trade or martingale robot blow their account, they just start from fresh using the savings account to equalize again between the two or more accounts accounts and start from fresh.
(The idea is to first build equity up until you could withdraw your initial deposit and just trade with your profits - it is the profits that gets equalized so in the end you only loose 50% (2 accounts)or just 25% (4 accounts) instead of everything.
There should be a way where this job can be automated since the trader owns both accounts and have all the access between the accounts.
I have searched but could not find such an EA to equalize accounts automatically daily/weekly/monthly. Wonder why have nobody think of this before.
If you are a programmer this could be a golden opportunity to put some quick cash in your account :)
You will never find that, because normal EAs cannot transfer funds between accounts. This would only be possible if the broker provided some API that would allow manipulating the transfer of funds, but if that were the case, you would not need an EA and a simple JavaScript application could accomplish that.
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I have seen some traders running more than one account from the same broker as a money management system.
One account is used for live trading while the other (or sometimes even more than one) is just a "savings account".
Some traders equalize accounts on a daily basis while others do it weekly or monthly.
In the event a bad trade or martingale robot blow their account, they just start from fresh using the savings account to equalize again between the two or more accounts accounts and start from fresh.
(The idea is to first build equity up until you could withdraw your initial deposit and just trade with your profits - it is the profits that gets equalized so in the end you only loose 50% (2 accounts)or just 25% (4 accounts) instead of everything.
There should be a way where this job can be automated since the trader owns both accounts and have all the access between the accounts.
I have searched but could not find such an EA to equalize accounts automatically daily/weekly/monthly. Wonder why have nobody think of this before.
If you are a programmer this could be a golden opportunity to put some quick cash in your account :)