two accounts/ have cake eat & eat it too?

[auggie]

I'm beginning to think two accounts, one for longs and the other for shorting might be the answer to more $$. I've noticed that after getting long on a volume spike down, darn near the tick of the bottom, that afterward it comes time to sell but I hate giving up my original position. The sell is also a blow-off spike up that is a screaming short, so I'm morally bound to get short. Later it retraces back down to one of my favorite fib ratio's and back on up it goes,to all time highs. The obvious dilemma is, I knowONEOF THOSEtwo position will be the low or the high of the day but I don't know which:shock:. Why not have two accounts protecting both positions and removing one with a small gain and ride the other until the endwhen it becomes more obvious the true direction for the day? I don't have to pay for the other account again do I?The goal is to have 10-15 e-mini pts at the end of the day with peace of mind:dude:.I'm seeing that the best positions should be held, not traded in and out for small change.Sound like a winner?Anyone doing this??

[NinjaTrader_Ray]

imported post

You don't have to pay for another license of NinjaTrader to trade another account.

[auggie]

imported post

OK great. No extra charge. Any idea of how many Ninja's out there who employ this strategy? This seems like a good way to set up a hedge and let the market decide. I haven't heard of anyone talking about this or have I missed something, I'm relatively new here. Thanks again.

[NinjaTrader_Ray]

imported post

No idea.

[Novicetrader]

imported post

That's exactly what I have in mind too, but I have no idea how to set up the other account. Should I talk with my broker first? Any help would be appreciated.

[Novicetrader]

imported post

Appearntly there is some kind of regulation regarding having long and short in the same market. I am still waiting for furthur details from my broker. Seems odd to me that this strategy is against regulations.

I will post more update later.

[cody]

imported post

If you try your idea in an equity account, you won't be allowed to do it. Perhaps having two sub accounts, but you will be margined on a gross basis probably.

You could use options for your strategy though, as in, if you're long and want to stay long on the spike, buy a put and if the market falls back sell it. If you're more aggressive, sell a call and then buy it back.