Automating Trades Across Multiple Sub-Accounts with PickMyTrade

In the fast-paced world of trading, efficiency is crucial, especially for those managing multiple accounts. PickMyTrade offers a seamless solution for automating trades across various sub-accounts within a single Tradovate login. This guide will walk you through the process of setting up automated trading using PickMyTrade, enabling you to enhance your trading strategy significantly.

Understanding PickMyTrade and Tradovate

Before diving into the setup process, it’s essential to understand the two primary components involved: PickMyTrade and Tradovate. PickMyTrade is an automated trading platform that allows traders to link their alerts from preferred charting tools to their brokerage accounts. Tradovate, on the other hand, is a trading platform that specializes in futures trading, offering advanced tools and features for traders.

By integrating these platforms, traders can execute trades across multiple sub-accounts efficiently. For instance, if you have several sub-accounts under a single Tradovate login, you can automate trades across all of them using a single alert from TradingView.

Setting Up Your PickMyTrade Account

To get started, you need to set up your PickMyTrade account. Follow these steps:

1. Visit the PickMyTrade website and create an account.
2. Once your account is created, access your dashboard to find your unique PickMyTrade token.
3. Note down your token, as it will be necessary for linking your Tradovate accounts.

Connecting Your Tradovate Accounts

After setting up your PickMyTrade account, the next step is to connect your Tradovate accounts. For example, if you have two sub-accounts named AP001 and AP002, follow these steps:

1. Log in to your PickMyTrade account and navigate to the section for adding accounts.
2. Input the first sub-account name (AP001) and set the quantity multiplier to your desired value, typically one.
3. Save the changes and repeat the process for your second sub-account (AP002).

Generating Alerts for Automated Trading

With your accounts linked, the next step is to generate alerts that will automate the trading process across your accounts. Here’s how to do it:

1. Go to the Generate Alert utility in your PickMyTrade dashboard.
2. Select the strategy you wish to implement and choose to add multiple accounts.
3. Input the account names and set the quantity multipliers as needed.
4. Click on ‘Generate Alert’ to create the alert code.

Setting Up Alerts in TradingView

Now that you have generated the alert code, the next step is to set it up in TradingView. Here’s how:

1. Create a new alert in TradingView and select the indicator you want to use.
2. Paste the copied alert code from PickMyTrade into the alert message box.
3. Ensure the alert settings are correct, including the notification webhook URL provided by PickMyTrade.
4. Click on ‘Create Alert’ to finalize the setup.

Benefits of Using PickMyTrade for Automation

The integration of PickMyTrade with Tradovate provides numerous advantages for traders:

• Efficiency: Automate trades across multiple accounts with a single alert, reducing manual effort.
• Flexibility: Manage different trading strategies without needing to monitor each account constantly.
• Real-Time Execution: Alerts can be set based on market conditions, allowing for immediate trade execution.

Common Questions About Using PickMyTrade

As with any automated trading solution, users often have questions. Here are some frequently asked questions:

1. How do I find my PickMyTrade token?

Your token can be found in your account dashboard once you have created your account.

2. Can I automate trades for multiple clients?

Yes, you can automate trades for multiple clients as long as you have their PickMyTrade tokens and sub-account names.

3. What if I want to change a sub-account name?

You can easily edit the sub-account name in your PickMyTrade settings and update the corresponding alerts in TradingView.

4. Is there a limit to the number of accounts I can connect?

No, there is no specific limit; however, ensure you have the correct tokens and account details.

Conclusion

Automating trades across multiple Tradovate accounts using PickMyTrade is a powerful strategy to streamline your trading process. By following the steps outlined in this guide, you can enhance your trading efficiency and manage multiple accounts with ease. If you are ready to elevate your trading experience, consider leveraging PickMyTrade for your automated trading needs.

For more information and tutorials on trading strategies, explore additional resources on platforms like YouTube or learn how to set alerts for various trading strategies through this video.

PickMyTrade

PickMyTrade specializes in automating trading bots, enabling seamless strategy execution for futures from platforms like TradingView, across well-known brokers such as Tradovate.

PickMyTrade