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5 Ways Duplicate Account Actions Can Simplify Multi-Account Trading

Managing multiple trading accounts creates inherent challenges. Trade actions must be replicated, orders must be monitored, and adjustments have to be made for each account’s size, portfolio weighting and strategy. Without a streamlined way of doing all this, it’s easy to lose time and opportunities manually checking everything.

That’s what Duplicate Account Actions from us at Affordable Indicators is for. We make it easy to replicate and adjust accounts, automatically importing your trading decisions into follower accounts. Here’s how Duplicate Account Actions can simplify your multi-account trading.

1. Replicate Trade Entries Across Multiple Accounts

The most basic (but far from only) function that Duplicate Account Actions does is replicating trade orders. The software will automatically send trade orders from master account to follower account(s). You can use NinjaTrader, TradingView or Tradovate, and connect almost any investment account as a follower.

Without a trade copier that does this, you need to manually enter each trade into each account. This introduces more opportunities for human error, is tedious and time-consuming, and could cause you to miss a short-term opportunity if day trading or swing trading. Automatically replicating trade orders is much more efficient.

2. Scale Trade Orders for Different Account Sizes

You probably don’t want to exactly copy a trade to follower accounts, but likely instead need to replicate a modified version of the trade. One of the most common modifications is adjusting the order size according to an account’s size. You don’t want to place the same order size if one account has a much higher balance than the other.

For example, consider placing a $5,000 buy order in a $50,000 account. That’d be a 10% allocation to the equity, which might be within your diversification and risk parameters.

Directly replicating that trade in a $10,000 account would result in that equity accounting for half of the smaller portfolio’s balance. You probably should instead adjust the order so it’s a $1,000 order in the smaller account, or some other ratio that suits your strategy.

Duplicate Account Actions lets you adjust order sizes as necessary. Follower accounts can use a fraction of the master account’s order sizes, or a multiplier if any follower account actually has a larger balance. For instance, you might use a 5x multiplier if replicating trades in a large retirement account. You alternatively might use a 10% ratio like the above example.

3. Set Up Stop Losses and Profit Taking Orders

Stop losses and profit taking are essential parts of almost every active trading strategy. These not only should be placed in a master account, but also need to be replicated in follower accounts when appropriate. Moreover, you might need to replicate layered stop losses/profit taking orders.

Duplicate Account Actions accommodates such trades. Stop losses and profit taking orders can be replicated from the master to follower accounts, and scaled as the initial orders are scaled. The software is able to handle multiple levels of stops and takings, and understands once cancels the other (OCO) logic.

Furthermore, you can easily enable and disable the replication of stop losses/profit taking orders as needed. You can automatically duplicate these orders, set up different ones for each account, or have the advanced orders only placed in the master account.

Being able to customize stop losses and profit takings makes it easy to stay within each account’s risk-reward parameters, even if those parameters vary among accounts.

4. Use Hedges in Follower Accounts

If your trading strategy uses hedges to manage risk across portfolios, Duplicate Account Actions makes this easy to do.

The Fade feature automatically replicates trades from the master account to follower accounts — except it places orders for the opposite position of the master account. If a master account has a market buy order, Fade will replicate market sell orders.

This is most useful when hedging in follower accounts, and the software is especially well-suited for setting up hedges. Because you can replicate a percentage of your trades, and select which trades to replicate. You might make a market sell order 10% of your master account’s market buy order, for instance.

If you regularly hedge positions, this might be the easiest way to place your hedge orders. You could create an investment account solely for this purpose, place a smaller amount in the account, and then replicate reverse orders automatically using the Fade replicate order feature.

5. Order Status Across All Trading Accounts

Knowing the status of your various orders is as important as placing the orders. You have to know what’s been filled, is still open, and has been rejected, if you’re to make decisions based on your current situation. Moreover, you need this information in real time.

The Accounts Dashboard instantly shows you the status of all orders in the master and follower accounts. You can check order status, positions, quantities, realized and unrealized returns, and trade results all on the screen, and break these down by individual trading account.

In other words, the Accounts Dashboard keeps you informed of where your orders, portfolios and returns stand.

Simplify Your Multi-Account Trading

If you’re an active trader with multiple accounts, Duplicate Account Actions has the functionality you need to replicate trades. Whether you’re currently using manual entry or a stripped-down trade copier, upgrade to Duplicate Account Actions and streamline your trading. You’ll be able to focus more on analysis and decisions, rather than whether you mistyped a number when placing your third identical trade.

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