Will you be copying trades from one account to another? Or maybe you want to copy trades to multiple accounts? Will you be copying trades from multiple master accounts? Make sure that you understand what will be the originating source of the trades and where exactly you want those trades to be copied to.
Let me give you several examples of how you can use the trade copier software. I will present several scenarios that will show you just what is possible with this software.
A signal provider can copy the trades from his account (master account) to a customer’s account (slave account) running on the same computer. He can then charge a percentage of the profits he makes, for example 30%, or charge a fixed monthly payment. You can have multiple master or slave accounts and copy trades between them. It is even possible to have multiple groups of trades on the same computer.
Here is the complete list of all the possible trade copying scenarios when using the Local Trade Copier software.
One-To-One. You copy trades from one MT4 account to another. Only 2 accounts are required. One will act as a master account and the other will be the slave account. This would also be the scenario under which hedging could be implemented with two US broker accounts.
One-To-Many. This one is similar to the previous scenario but here we have one master account and multiple slave accounts. This is the most common scenario for account managers. You can have an unlimited number of slave accounts. If your computer can’t run more than five MT4 platforms for example, you can always get another computer or a VPS server to facilitate more accounts. Later in this course I will explain how to duplicate trades from one master account to several slave accounts that are running on multiple machines.
Many-To-One. This option is mostly used by retail traders for experimentation purposes when looking for new trading strategies and ideas. In this scenario you have multiple master accounts whose trades are combined into a single group and then copied to one slave account. For example let’s say that you have multiple trading robots that cannot be used together with other robots on the same account. The solution for this problem? You run each of the robots on separate accounts and then copy all the trades from all the robots to one slave account.
Many-To-One-To-Many setup. This option allows you to combine the trades from multiple master accounts into a single account and then copy the trades from that account to multiple customers’ accounts. So basically this is Many-To-Many scenario with an added possibility to filter some trades in between by using various trade filters.
Many-To-Many. Using this option you can copy the trades from multiple master accounts to multiple slave accounts. Under this scenario you can have the slave accounts individually configured to receive trades only from specified master accounts and in addition you can apply individual filters if necessary.
A Forex trader can use the reverse trading feature in my software to copy the losing trades from a trading robot to another account and make a profit. For example, if you have a long trade that ends up losing on the master account, having the same trade reversed as a short trade on the slave account will end up in profit.
The third scenario for using the trade copier software is the ability to duplicate trades from your account to another account that you own at a different brokerage. For example, you have a small account with an overseas broker where you receive signals from a 3rd party service. The signal provider does not accept any other brokers; you have to use one of their designated brokers. But for tax or legal reasons, you want to use a broker located in your own country.
Trade copier is a solution to this problem. You can simply duplicate the trades from your small overseas account to your larger account that is kept with a broker from your home country. Thus you can avoid any potential legal problems with the overseas account because your main funds are located in your home country.
Another useful option of my software is the ability to have hedged positions with U.S. brokers. As you are probably aware, US brokers are not allowed to offer hedging to their customers. But with the trade copier you can diversify positions among 2 different accounts at the same broker and have both long and short trades at the same time on the same currency pair.
Now let me show you how to install MetaTrader 4 platform.