Different traders trading my account. HOW ?

[fluttrader]

I want a few traders trade my account with a broker.
I need to be able to watch their trades in real-time and shut them down if necessary.(close positions)

What broker and what software allows such a set-up ?

 

[stevegee58]

Sounds like some form of insanity.

 

[cstfx]

IB institutional. Prop trading account with separate trading limits and ability to monitor in real time.

If you don't want to allocate funds to different sub accts, they also have a "many users, one account" setup which you could monitor as well.

 

[mgookin]

Multiple traders in the same account seems to be inviting of problems, undue risk, etc. One mistake could take down the whole thing. It costs nothing to open additional accounts.

Let's say your capital is $1MM.
You could have what you may call your "parent account" where you stash the cash. Then you can set up "child accounts" where you could allocate smaller amounts of capital (starting with $25k or $50k per trader for example). This may be a safer setup. It's easy to move funds from one account to another with the same broker.

As to what brokers allow multiple logins concurrently (so they can trade and you can monitor activity/ balances) you're going to have to get on the phone/ e-mail and contact some brokers. Every broker has different systems. Some brokers e-mail out daily financial statements which may accomplish the objective. Do you intend to watch every trade/ tick? Or would daily accounting coming from the broker suffice?

 

[snowhite]

Quote from fluttrader:

I want a few traders trade my account with a broker.
I need to be able to watch their trades in real-time and shut them down if necessary.(close positions)

What broker and what software allows such a set-up ?

I would be interested in trading a portion for you. Please email me broker/username/password asap.

 

[fluttrader]

Quote from cstfx:

IB institutional. Prop trading account with separate trading limits and ability to monitor in real time.

If you don't want to allocate funds to different sub accts, they also have a "many users, one account" setup which you could monitor as well.

What's the minimum for IB institutional ?
Does it have the possibility to liquidate positions automatically when a certain max loss is touched ?

 

[fluttrader]

Quote from mgookin:

Multiple traders in the same account seems to be inviting of problems, undue risk, etc. One mistake could take down the whole thing. It costs nothing to open additional accounts.

Let's say your capital is $1MM.
You could have what you may call your "parent account" where you stash the cash. Then you can set up "child accounts" where you could allocate smaller amounts of capital (starting with $25k or $50k per trader for example). This may be a safer setup. It's easy to move funds from one account to another with the same broker.

As to what brokers allow multiple logins concurrently (so they can trade and you can monitor activity/ balances) you're going to have to get on the phone/ e-mail and contact some brokers. Every broker has different systems. Some brokers e-mail out daily financial statements which may accomplish the objective. Do you intend to watch every trade/ tick? Or would daily accounting coming from the broker suffice?

Do most brokers allow such a set-up or is it a minority ?

If the software doesn't allow real-time monitoring, which I would prefer, it must have a automatic max loss liquidation option.

 

[mgookin]

Quote from fluttrader:

Do most brokers allow such a set-up or is it a minority ?

If the software doesn't allow real-time monitoring, which I would prefer, it must have a automatic max loss liquidation option.

Sorry. I just don't know the answers to those questions. Hence I suggest you contact some brokers; starting with your favorite.

 

[fluttrader]

Quote from mgookin:

Sorry. I just don't know the answers to those questions. Hence I suggest you contact some brokers; starting with your favorite.

Thanks, anyway !