If you have read my other post this morning, you will know that I plan on opening a 6th account. Questions that some of you have are 'why so many accounts' and 'why not have a single account that shows combined/huge performance each month'.
Here is the answer...
- Trading a single account for all my strategies would require a single broker. I would never place all my funds with a single broker. What would happen if the broker went bust? Or my account was somehow hijacked? I currently spread my accounts/funds between Darwinex, IC Markets and Pepperstone.
- Trading a single account would mean that performance for each strategy would need to be recorded manually. I have no intention of doing this (why create more work for myself?!). Also, the followers of lovethepips need to see performance per each strategy. A single account on myfxbook shows them nothing about strategy performance apart from that I am making money.