Staying in the Game.

[Mysticforex 13]

For a trader protecting your trading account is paramount. You can have the psychology down, the latest and greatest Holy Grail indicator, but if you don't have $$$ in your account, your not trading.

 

So, do you do anything to protect your trading account? For instance, if you trade through a US based bank, some offer FDIC insurance on USD accts up to $250K.

 

I take it a step further. I have 3 accts. I never have the same exposure on more than 1 acct.

 

What do you do ?

[Predictor 11]

Some traders have did just that.. opened multiple accounts after MFGlobal so they wouldn't be locked out. I would guess that opening multiple accounts and withdrawing any excess capital should be sufficient. Most futures brokerages don't require that much margin for intraday positions. Overnight is a different story.

 

As you note, stock accounts are OK because they are protected. The futures accounts are the ones at risk.

 

I believe that either all futures accounts need to be held in a pool (oversee-able by the regulators) or that we need insurance extended to futures accounts. I like the idea of 100% insurance of first 25k, 95% insurance second 25k, and 85% up to 50k more.

 

This sort of scheme would still encourage individual accountability but protect the bulk of funds in futures accounts. Another option would be for SIPC to just be extended to futures accounts 50k. We don't need much insurance in futures because of the leverage, and so we shouldn't have to pay for high insurance levels.

 

 

For a trader protecting your trading account is paramount. You can have the psychology down, the latest and greatest Holy Grail indicator, but if you don't have $$$ in your account, your not trading.

 

So, do you do anything to protect your trading account? For instance, if you trade through a US based bank, some offer FDIC insurance on USD accts up to $250K.

 

I take it a step further. I have 3 accts. I never have the same exposure on more than 1 acct.

 

What do you do ?

[Obsidian 10]

3 bank accounts and 2 trading accounts

[GlassOnion 12]

Investment Firm Offers To Buy Peregrine Customer Claims.

 

http://blogs.wsj.com/deals/2012/07/12/investment-firm-offers-to-buy-peregrine-customer-claims/