Why open a second account?
​
Avoid professional data fees
When you get a live account, you are classed as a professional. This means your CME data fees are $105 per month.
​
When you confirm the account details with Helios, you can select that you don't want data. You can use the data from your 2nd evaluation account. This is cheaper.
​
Double the drawdown limit
If you hit the trailing drawdown on the live account, you have a 2nd account on standby ready to activate.
​
How to trade the 2nd account
I would not recommend using a trade copier. I prefer to practice my trading skills. Typically, I will place a trade on the primary account, and if that trade moves as expected and there is sufficient room to the profit target, I will enter the 2nd account. Basically, I'm adding to my position on a winning trade.
​
As I prefer to focus on one good trade per day, I treat the 2nd account as a scale-in of the 1st account. However, if the first trade moves against me, I will wait for the next setup and possibly trade the 2nd account as a completely separate trade.
​
For example, here I entered a trade on the first account:
Once the trade broke consolidation favorably, I entered on the 2nd account. The profit target on the 2nd account was still within my estimated Maximum Favorable Excursion for the move.
