Survival Guide for Traders: How to Set Up and Organize Your Trading Business (Wiley Trading) by Bennett A. McDowell

Author:Bennett A. McDowell [McDowell, Bennett A.]
Language: eng
Format: mobi
Publisher: Wiley
Published: 2011-10-25T04:00:00+00:00

1. Day trading account.

2. Position trading account.

3. Investing account.

You may also decide that it helps to separate your accounts by market as well, such as separate accounts for futures, stocks, and forex, depending on how many markets you decide to trade. Because of the different needs of each type of market, from the margin parameters to the expiration of contracts, you will find having different accounts will organize your approach.

This separation of accounts will also assist you in analyzing results more easily between the different types of trading to determine which types are more profitable. You can also determine which time frames, markets, and approaches are more profitable. Look to see which market cycles each does better in as well.

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