On October 15th, 2020, I have released a trade copier software for the MetaTrader 5 and named it MT5 Trade Copier by Rimantas Petrauskas. Metatrader 5 is not that popular yet, but I see the demand is rising year after year. And the best part is that if you purchase both trade copiers from me, for MT4 and MT5 platforms, you can copy trades from MT4 to MT5 and MT5 to MT4 as well.
In this tutorial, Rimantas explains how anyone can download and install two or more MT5 trading terminals and copy trades from one MT5 account to another MT5 account using the MT5 Trade Copier software.
Local Trade Copier for MT4 allows you to control the lot size on the client account in many ways. The software has many parameters to control the lot allocation. You can copy trades at the same percentage risk even when master and client accounts are of different size and different deposit currency or you can copy trades at your own set fixed lot size. You also have the ability to copy trades with the same lot size no matter what or choose one of few more advanced risk control settings.
U.S. Forex brokers and possibly some other brokers will have FIFO limitations applied to each account. It means trader or any EA is restricted to close positions only in particular order and hedge trading will be disabled too (you cannot hold BUY and SELL positions open at the same time). These restrictions cannot be changed, and anyone who is trading in such account (including EA) will have to obey these restrictions.
Local Trade Copier is capable of handling trade copying of positions on MT4 accounts with FIFO limitations including partial closes.
Local Trade Copier can do Netting of positions which is especially useful if operating on an MT4 account with FIFO restrictions.
In this short tutorial, Rimantas explains how to configure Local Trade Copier not to close specific positions.
In this short tutorial, I explain how to check if your computer and Internet connection speed is slowing down the MT4 trade copier or not? It is essential to understand that to copy Forex trades as fast as possible (in 1 second or faster) your computer and internet quality needs to be in excellent condition.
Local Trade Copier can increase or decrease the lot size of the next order if previous trade closed in a loss when Martingale Mode is enabled. Note that this is a very risky trading style so be sure you know what you are doing.
Today we will talk about a very important thing – SPEED. Especially for traders who are copying their trades to other MT4 accounts using Local Trade Copier.
In this article, I will talk about a common problem faced by traders who are copying CFD’s (Contract For Difference) using different brokers. I will also provide a solution to copying CFD’s between MT4 brokers that have different instrument specifications. This problem is difference in trading conditions of various brokers. The most significant issue is with CFD’s on major stock indices: Contract size for one broker can be 1 index, 25 indexes for another, 10, 5, etc. Some brokers allow trading a portion of a contract while others require trading full contracts only.
