In the first chapter of this guide I will go over the tools and software that are needed in order to start the trade copying process. You will learn how I and hundreds of my customers copy trades in the Forex market. I’ve been doing this for several years now and I have mastered the process. I’m using lots of different trade copying scenarios and at the same time I’m experimenting with brand new scenarios on my servers all the time.
The two most common sticking points for new users just starting out with the software are the installation process and the running of the VPS server. Other people start to use the trade copier software but find out that it doesn’t work as intended. Then they try to fix the problem and do a search for a fix online. But the search leads them to a dead end and they’re left with no answer to their questions.
Back in the day, when I first got interested in trade copying, it was very difficult to get started as there were no reliable copying tools. This gave me an idea to create this type of tool myself and make it available to the public. Now let me show the tools you’ll need to have before you begin your first trade copying campaign.
In order to copy trades from one account to another, you need to have a few tools. The first thing you will need is a MetaTrader 4 platform. This is the most popular Forex platform and most Forex brokers offer this option for a trading platform. Execution speed here is very important because not all brokers give the fastest execution that is possible with our software.
The next tool you will need is software that will connect your master MT4 account with the slave MT4 account. There are several programs that can copy trades between multiple accounts, but in this course I will use the Local Trade Copier for the MetaTrader 4 platform. I have personally created this software and I use it every day. I know every detail of this software and I can use that knowledge to deliver maximum performance.
The master account is the account where you initiate the trades that need to be copied. The slave account is the account where you want those trades to be copied to. You can have multiple master and multiple slave accounts in your trade copy campaign.
The next tool that you will need is a VPS server. VPS stands for Virtual Private Server and it is a virtually created server that is always online where you can host any application. This includes the MetaTrader 4 platform and the trade copier software. While this tool is not a requirement, and you can use my trade copier without it, it is recommended to use a virtual private server.
The reason for this is because the VPS is stored on a dedicated server online and runs 24 hours a day 7 days a week without any interruption. This makes for a very reliable trade copying process, free of power failures and problems with your internet connection.
Another optional tool that I offer is the Stealth EA. This software can apply hidden stops to your positions. This can be done on the master, the slave or on both of the accounts. The EA can also act as additional security in cases where your positions would be initiated without a stop loss in place.
Now you know about the tools you will need in order to start your first trade copying campaign.
Lets go in more detail about this topic in our next chapter.