WHAT WILL YOU LEARN IN THIS GUIDE
In this guide you will learn:
- What is a Forex trade copier and what tools you need to use it.
- How to install multiple MT4 platforms on any computer or VPS server.
- How to setup a trade copier and copy trades between multiple MT4 accounts.
- Where to rent and how to setup a VPS server.
- How to reverse your trading and profit from losing positions.
- How to overcome the most common roadblocks in FX copy trading.
WHAT IS THE PURPOSE OF THE DEFINITIVE GUIDE TO FOREX TRADE COPYING?
My goal with this guide was to create the most complete and in depth overview of the trade copying process available on the market today. This guide is filled with trading ideas you can implement right away. You can use these ideas to start your career as an independent account manager and to find new opportunities in Forex trading. With my help, you can finally overcome your roadblocks and dive deeper into learning all that technical mumbo jumbo that was stopping you from picking up trade copying in the past.
I’ve included everything from planning, installing MetaTrader to duplicating MT4 accounts. You have all the information you’ll ever need to start your trade copying campaign.
WHO CAN USE THIS GUIDE?
If you’re a beginner and don’t know anything about trade copying or duplicating accounts this guide is for you. If you have already begun your journey and now you want to learn more about what resources are needed and which software to use for trade copying, you can make use of this advanced trade copying guide.
Even if you have already mastered the basics of trade copying (you know how to install a trade copier software on your MT4 for example) but you want to know more, this guide is for you!
The Definitive Guide to Forex Trade Copying can be used by account managers, signal providers and even retail traders to supercharge their trading to the next level. It provides you, the reader, with a bunch of trading ideas that you can implement right away and begin duplicating your profits to your customer’s accounts.
SHOULD I READ THE ENTIRE GUIDE?
Reading the whole guide is not needed in order to implement a particular idea given in the different chapters, but it is certainly recommended to do so. Every chapter delivers a different piece of puzzle and while you may not need to implement everything right away, reading the whole thing will provide you with a more complete understanding of the trade copying process.
You can begin your trade copying campaign by purchasing a trade copier software. As your next step, go through my Forex trade copying guide and start putting my ideas into practice. Only do one new idea at a time. The key is to integrate each new idea onto the previous ones, creating a solid well build structure that can withstand anything the market can throw at it.
You may start by reading any of the sections below, just pick the one that you think will deliver the most value to you right now. But again, try to eventually read the entire manual in order to get a more in depth knowledge of trade copying.
THE TOOLS YOU WILL NEED TO COPY TRADES
The first chapter discusses the tools that are needed to start the trade copying process. A MetaTrader 4 platform, a trade copier software and a virtual private server are the essential trading tools to any successful copying campaign. The latter sections will go over each of these tools in more detail and teach you how to setup and configure them.
I also introduce you to the special tool that can protect your stops in case there are positions initiated without a stop loss in place.
PLAN YOUR TRADE COPY CAMPAIGN
Chapter two goes over all possible trade copying scenarios with the trade copier software. The main ones would be: One-To-One, One-To-Many, Many-To-One, Many-To-One-To-Many and Many-To-Many. In this chapter you can even learn how to combine trades from several accounts into one account and then copy the trades from that account to your customers’ accounts. Chapter shows the different options that are possible.
INSTALLING MULTIPLE METATRADER 4 PLATFORMS
In chapter three I give a step by step guide on installing multiple MetaTrader 4 platforms on a single computer. I also write about how to prepare the MT4 platforms for applying the trade copying software.
In addition, I show the reader how they can open a free practice account with a broker.
LOCAL TRADE COPIER SERVER EA & CLIENT EA INSTALLATION
In chapter four you will find illustrated step by step instructions on installing and configuring the Local Trade Copier software. My Local Trade Copier comes with two .exe files, a LTC Server EA and a Client EA.
The Server EA will be used on the master account, this is the account that will send the trades to all the other trading accounts. The Client EA(s) need to be installed on the platform(s) containing the slave account(s).
COPYING TRADES BETWEEN METATRADER 4 PLATFORMS
A big but indispensable chapter five, provides an in depth look of trade copying. In this section I also explore some of the more unconventional settings of the Local Trade Copier: the option to partially close trades, the money management techniques in the software and the stop loss and take profit modifications that can be achieved with the LTC. I briefly touch on the new trading feature in the MT4 platform called one click trading. Enabling this option is relatively simple, read this chapter to find out how.
GETTING A VPS SERVER FOR UNINTERRUPTIBLE SOFTWARE OPERATION
Chapter six deals with everything VPS related. A VPS is a Virtual Private Server. You can run my Local Trade Copier without a VPS, but it’s highly recommended to use one. In this part I explain how to set up a Virtual Private Server and how to configure the LTC to work on the VPS.
I also go over some more practical issues like how to transfer files between your computer and the Virtual Server and how to correctly disconnect from the server so that all your programs will continue to run after you log-off.
DUPLICATING TRADES TO SLAVE ACCOUNTS LOCATED ON MULTIPLE COMPUTERS OR VPS SERVERS
In chapter seven I write about how you can copy your trades to accounts on multiple computers / VPS servers. As you get more clients you will need to copy your trades to more slave accounts. One VPS or 1 computer may not be enough to accomplish this goal. It’s basically the same process explained in the previous chapters but here I show you one trick that will help you duplicate trades between multiple computers/VPS servers.
REVERSE TRADES TO PROFIT FROM LOSING POSITIONS
In chapter eight I reveal the Local Trade Copier has a neat feature that you can activate called Reverse Trades. By enabling this option, the LTC will reverse any buy trades to sell trades. Reversely, any sells will become buys.
I teach you how to set this up so that you can make a profit from losing traders or bad EAs by reversing their trades.
HEDGE COPYING ON U.S. ACCOUNTS
Chapter nine talks about how you can circumvent the trading limitations imposed by the NFA with the help of the Local Trade Copier.
In order to enable hedging on US Forex accounts you will need to have the following: my trade copying software (the LTC), one master account (this can also be a demo account) and two slave accounts. Read this chapter to find out more.
OVERCOMING COMMON TRADE COPYING ROADBLOCKS
In this chapter I tackle the most common misconceptions people have about trade copying. You don’t need a real trading account to copy trades to your customers’ accounts. You don’t need expensive VPS servers.
Your account size and the size of your subscribers’ accounts doesn’t matter in the slightest. The Local Trade Copier can adjust the trading size to the size of the account. In addition, you can adjust these settings yourself by using the multiplier option in the LTC.
THE OTHER SIDE OF TRADE COPYING. USING ADDITIONAL SOFTWARE TO ADD MORE SECURITY TO YOUR TRADES
In this chapter I show the reader how to prevent unscrupulous Dealing Desk brokers from running your stops. I also write about how you can use an EA to add ‘’hidden stop losses’’ to your trades. Don’t limit yourself, think outside the box and you will find many unique ways for trade copying.