I’m a dedicated Tradingview user who is interested in possibly establishing a prop firm account. The problem is that prop firms don’t accommodate trading directly from Tradingview.
I recently learned from 2 different sources that traders can establish a demo account with broker/dealer, and then arrange it so that the trades effected on the demo account through Tradingview are duplicated on the specified live prop firm accounts. I’ve pasted 2 videos about this set-up below for your review. I confirmed with my desired prop firm that they do indeed authorize this practice, so long as the trades copied don’t exceed the account allocation in the prop firm account.
Questions for you:
1. Security: The trade copying service will ostensibly have the login for my prop firm account. Is this something I need be concerned about? The prop firm isn’t concerned.
2. Corresponding Forex Pairs: On the monthly time frame, the pairs that I work with on the various dealer exchanges are the same on other deal exchanges. But of course the prices will vary when you get into the lower time frames. I’m a swing trader; I enter on the 1-hour time frame. Need I be concerned about a material difference between the forex pairs as reflected on the parent demo account vs. the child prop firm account?
3. Latency: I’ve gathered that this is an issue for scalpers, and for this reason trade copying isn’t recommended for such low time frames. Any thoughts on whether this will be an issue on the 1H time frame? Leaving aside the obvious and ever-present thread of volatility and spikes?
Video Example: The Funded Trader
Video Example: Paladin