Trade Copier — complete instructions

Trade Copier — complete instructions

6 November 2020, 06:32
Alfiya Fazylova
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4 960

Trade copier - designed to copy (synchronize) trades between trading accounts. Copies trade transactions from the trading account / terminal of the supplier to the trading account / terminal of the recipient. Vendor and recipient terminals must be installed on the same computer or vps server.

How Trade copier works

Copying deals is carried out within the same computer or vps server. To organize copying to a computer, you must install at least two terminals:

  1. The terminal with the supplier trading account is the trading account from which you need to copy trade transactions. The Trade copier utility installed on this terminal will collect information about trade transactions and send this data to the terminal with the recipient's trading account.
  2. The terminal with the recipient's trading account is a trading account where trade deals (copies) will be opened. The Trade copier utility installed on this terminal will receive data from the supplier's terminal and open trade deals (copies).

To organize such a copying scheme, the utility has two modes of operation:

  1. Master — in this mode the utility is installed on the supplier's terminal.
  2. Slave — in this mode, the utility is installed on the receiver's terminal.

The operating mode is selected on the Input settings window, which appears when the utility is launched on the chart:

Mode:

  • Mode:
    • Master - supplier mode. This mode transmits data to recipient terminals. This mode is used in the terminal from which you need to copy orders.
    • Slave - recipient mode. This mode receives data from the supplier's terminal. This mode is used in the terminal, where you need to open copy orders.
  • Market * – Market execution mode. This mode is used on a trading account where it is forbidden to open market orders with preset stop loss and take profit. In this mode, the utility will open market orders in two stages:
    1. will open a market order without stop loss and take profit
    2. after opening an order, will set stop loss and take profit for the open order (if they were in the original order)
  • Magic number (identifier for Slave) * – ID of the Slave copier. The Slave copier signs his orders with this number in order to subsequently distinguish his orders from others.

* The Market and Magic number (identifier for Slave) parameters are only used for the Slave mode. When installing the copier in the wizard mode, these parameters are not used by the copier.

Master Mode

This mode collects information about orders and positions and sends this information to recipient terminals. The utility with the Master mode is installed on the terminals, whose deals are to be copied.

Slave accounts tab

  1. Button for enabling / disabling data transmission to recipient terminals.
  2. Tab of the list of connected Slave accounts.
  3. Slave trading account numbers.
  4. The current frequency of data transmission to recipient terminals (in milliseconds).
  5. Field for entering the frequency of data transmission to recipient terminals (in milliseconds). *
  6. Tab for configuring the list of copied symbols.

* Attention! The current baud rate is floating and depends on many factors. If the copying speed is less than 1 second, the current data transfer speed (4) may differ from the set speed (5) (with sufficient computer resources and Internet speed, the difference will be within 10%).

Copy symbols tab

  1. Enable/Disable symbol.
  2. Display in the list all symbols available for this terminal.
  3. Display in the list the symbols that are selected in the "Market Watch" window of the terminal.

The Master will send data to the Slave only for those characters that are in this list and that are allowed to be copied (checkbox 1).

Slave Mode

This mode receives data from the terminal-supplier, and on the basis of this data copies trade deals (opening, closing and modification of orders and positions). The utility with the Slave mode is installed on the terminal, where it is necessary to open copy orders.

Trade tab

  1. Button to enable / disable copying of trade deals.
  2. The current frequency of receiving and processing data from the supplier terminal (in milliseconds).
  3. The trading account from which trades are copied.
  4. Trade tab (list of Master account orders and copied orders).
  5. Tab for configuring the list of copied symbols.
  6. Filter settings tab.
  7. A tab for setting up copying.
  8. Notification settings tab.
  9. List of Master Account orders.
  10. List of Slave Account orders.

Symbols tab

  1. Master account symbol
  2. Slave account symbol
  3. Enable / disable copying of a symbol.
  4. Refresh symbol lists.

The utility will copy only those characters that are in this list and that are allowed for copying (checkbox 3). The list is a copy of the Master-copier's list, and accordingly the list on this tab will be displayed only after selecting the Master-account.

The list of symbols is formed 1 time, immediately after selecting the Master account. If the list of symbols on the Master has been changed, then to update the list on the Slave, use the "Reset/Update Master Symbols" button (4).

The utility automatically selects the corresponding Slave account symbol for each Master-account symbol. But if necessary, you can edit the name of the Slave symbol. This may be needed if the utility was unable to automatically pick up a symbol or if you need to copy to another symbol, for example EURUSD> USDJPY.

To edit, click on the symbol you want to change (1), and enter the required symbol name in the field.

Filters tab

  1. Maximum deviation of the recipient's price towards the supplier's profit (in points).
    For example,
    Deviation into the profit zone = 50 and a Buy deal was made on the supplier's account with an open price of 1.00000.
    This position will be copied only if the current price of the recipient is less than or equal to 1.00050 (1.00000 + 0.00050 = 1.00050).
    Thus, the utility will not copy those positions for which the current profit is greater than or equal to 50 points. If you set Deviation into the profit zone = 0, then positions will be copied only if the current recipient price is equal to or better than the supplier. This filter works only for market orders.
  2. Maximum deviation of the recipient's price towards the supplier's loss (in points).
    For example,
    Deviation into the loss zone = 50 and a Buy deal was made on the supplier's account with an opening price of 1.00000.
    This position will be copied only if the current price of the recipient is greater than or equal to 0.99950 (1.00000-0.00050 = 0.99950 ).
    Thus, the utility will not copy those positions for which the current loss is greater than or equal to 50 points. This filter limits the opening of positions at the best price. Therefore, do not turn on this filter unnecessarily. This filter works only for market orders.
  3. The maximum period of time during which the utility will try to copy an order (open a copy order) (in seconds). The time is counted from the moment the order is opened on the Master account.
    For example:
    if Timeout = 90 is set, the supplier order was opened at 1:00:00, then the copier will try to open a copy order until 1:01:30.
    If the order was not opened due to slippage, the utility will wait for the price to return to the Devation range within the specified Timeout. This filter works only for market orders.
  4. Minimum lot for copying. The utility will not copy the Master Order if its lot is less than this value. This filter is not supported if the Master account is an MT5 account with netting positions.
  5. The maximum lot to copy. The utility will not copy the Master Order if its lot is larger than this value. This filter is not supported if the Master account is an MT5 account with netting positions.
  6. Copy orders from the specified time. *
  7. Copy orders until the specified time. *
  8. Copy orders only on the specified days of the week. *
  9. Copy orders only with the specified comment. **
  10. Copy orders only with the specified magic number. **
  11. Do not copy orders that have the specified comment. **
  12. Do not copy orders that have the specified magic number. **
  13. Stop copying if the amount of free funds on the account reaches the specified value. ***
  14. Close orders if the function "Stop copying if the amount of free funds on the account reaches the specified value" is triggered. ***
  15. Stop copying if the account drawdown reaches the specified value (the drawdown is expressed as a percentage of the balance). ***
  16. Close orders if the function "Stop copying if the account drawdown reaches the specified value" is triggered. ***
  17. Stop copying if the number of market orders opened per day reaches the specified value. ***
  18. Stop copying if the number of unprofitable orders closed per day reaches the specified value. ***
  19. Stop copying if the recorded loss per day reaches the specified value. ***
  20. Order closing time. When the specified time is reached, the copier will close all orders. ****
  21. The day of the week on which orders are closed. ****

* These filters only affect the opening of new orders. These filters do not limit the management of already copied orders, closing and modification of orders will be performed regardless of these filters. These filters work on terminal time.

**

  • You can enter several comments, for this the comments in the input field should be separated by the sign ",".
    For example, if you need to copy or not copy orders with comments: Exp1, Exp2 and Exp3, then enter Exp1,Exp2,Exp3 in the field.
    You can also use a prefix (character set). The prefix must end with *.
    For example, if you need to copy or not copy orders with comments: Ord1453, Ord7565, Ord... then enter the general prefix of these comments Ord* in the field.
    Comments must not contain the characters "," and ";", as these characters are used as separators.
  • You can enter several Magic Numbers, for this you should separate them in the input field with the sign ",".
    For example, if you need to copy or not copy orders with magic: 1, 25 and 148, then enter 1,25,148 in the field.

***

  • When the function is triggered, the copier completely terminates its work. To restart the copying process, press the Start button.
  • The number of transactions per day is the total number of market orders (positions) that were opened for the current day, which have a magic number of the copier.
  • The number of losing trades per day is the total number of market orders (positions) that were closed with a loss for the current day, which have a magic number of the copier.
  • Loss per day - this is the total loss of market orders (positions) that were closed with a loss for the current day, which have a magic number of the copier.
  • When the function of closing orders is triggered (check-boxes 14 and 15), the copier will close only its orders that have the magic number of the copier.

****

Orders are closed according to the terminal time.

Settings tab

  1. Write in the comment of the Slave order the ticket of the Master order.
  2. Write in the comment of the Slave order the comment of the Master order.
  3. Write your own text in the Slave order comment. Attention, the maximum length of an order comment is 31 characters.
  4. Field for entering the frequency of receiving and processing data from the supplier terminal (in milliseconds). The current baud rate is floating and depends on many factors. If the copying speed is less than 1 second, the current data transfer speed (3) may differ from the set speed (4) (with sufficient computer resources and Internet speed, the difference will be within 10%).
  5. Copy Buy position.
  6. Copy Sell position.
  7. Copy pending orders. Copying pending orders is not supported if the Master or Slave account is an MT5 netting account.
  8. Copy closing orders.
  9. Open orders in the opposite direction.
  10. Re-copying an order if the order-copy on the Slave was closed manually or by another expert. Do not enable this checkbox if you do not understand what it is for!!!
  11. Method for calculating the lot of a copy order. *
  12. Applied coefficient or lot size, (depending on the lot calculation method).
  13. Visualization of the lot calculation method.
  14. Minimum lot, if the calculated lot is less than this value, then the utility will apply this value.
  15. Maximum lot, if the calculated lot is greater than this value, the utility will apply this value.
  16. Method of copying Stop Loss. **
  17. The field for entering the Stop Loss distance is used only for the "Copy stop loss points" method.
  18. Method of copying Take Profit. **
  19. The field for entering the Take Profit distance is used only for the "Copy take profit points" method.

* Lot calculation methods

The copy order lot is calculated in one of the following ways:

  • Proportional to the balance — the lot of the opened order will be proportional to the Slave account balance to the Master account balance,
    Lot = MasterLot * (BalanceSlave / BalanceMaster).
  • Multiplied by a coefficient — the lot of the opened order will be equal to the lot of the supplier multiplied by the specified coefficient,
    Lot = MasterLot * Coefficient.
  • Fixed lot — the lot of the opened order will be equal to the specified, fixed lot.
  • Proportional + Multiplied — the lot of the opened order will be proportional to the Slave account balance to the Master account balance, multiplied by the specified coefficient. That is, the lot will be calculated using the Proportional to the balance and Multiplied by a coefficient method simultaneously,
    Lot = MasterLot * (BalanceSlave / BalanceMaster) * Coefficient.

We recommend using the "Multiplied by a coefficient " method. It is this method that will allow you to accurately calculate the lot relative to the master, since this method does not depend on secondary variables, such as the size of the balance.

** Take profit and stop loss calculation

Take profit and stop loss of a copy order is calculated in one of the following ways:

  • Stop Loss / Take Profit do not copy — do not copy stop loss / take profit of the master.
  • Copy Stop / Take Profit Loss price — copy stop loss / take profit levels of the master. With this option, sl and tp will be set strictly to the wizard's sl and tp levels, even if there was a price slippage when opening an order.
  • Copy Stop / Take Profit Loss points — copy stop loss / take profit points of the master. With this option, sl and tp will be deferred from the order opening price in points, and in case of price slippage, the sl and tp levels will also shift by the amount of slippage.
  • Set Stop / Take Profit Loss points — set your own TP and SL values, without copying the stop loss / take profit of the master.

Notification tab

  1. Send a message to a phone (mobile terminal).*
  2. Message when opening an order.
  3. Message when the account equity reaches the specified value. The message will be sent if the current account equity decreases to the value specified in field 7. The message will be repeated after the number of minutes specified in field 8, provided that the equity is still at the specified level.
  4. A message with a report on the state of the trading account (balance, equity and free margin). The message is sent once a day on the selected days of the week. The report time is indicated in field 9, the day of the week is set using buttons 10.
  5. Send a message to EMAIL. **
  6. Message when closing an order.
  7. The amount of equity upon reaching which a message will be sent.
  8. The number of minutes between messages.
  9. The time the report was sent.
  10. The day of the week to send the report.
  11. Send a test message. Click this button to make sure that you have configured the message sending correctly.

* In order for Trade copier to send a message to the mobile terminal, make the terminal settings:

** In order for Trade copier to send a message to EMAIL, make the terminal settings:

How do I start copying

To set up copying correctly, follow these steps in sequence:

1. Launch the terminal with the supplier's account.

2. Open a chart with any symbol and launch Trade Copier on this chart. In the utility settings window that appears, select the Master mode (Mode parameter). The Market and Magic number parameters are not used by the Master mode, so we do not pay attention to these parameters.

3. After loading the utility on the chart, go to the "Copy symbols" tab and make sure that all the necessary symbols for copying are included in the list. If necessary, use the "All symbols" and "Market Watch" buttons.

4. Press the Start button on the panel. After you click the Start button, the utility will begin its work and create a database, and now this account can be selected as a Master. Let's move on to launching the Slave.

5. Launch the recipient's terminal and enable auto-trading in the terminal, to do this, click the "Auto Trading" button for mt4 or " Algo Trading" for mt5.

6. Open a chart with any symbol and launch Trade Copier on this chart. In the settings window that appears, go to the "Common" tab and check the box "Allow live trading" for MT4, or "Allow Algo Trading" for MT5.

7. Go to the Inputs tab and select the Slave mode (Mode parameter). If necessary, enable the Market parameter and set the number for Magic (the Magic number of the copier must be different from the Magic number of other applications installed in the terminal, otherwise there will be a conflict between applications).

8. Select Master Account.

9. Go to the Symbols tab and make sure the copier has imported the Master's symbol list. Also check that the Slave matched the characters correctly. If necessary, edit or disable unnecessary characters.

10. Click the Filters tab and configure the copy settings.

11. Click the Settings tab and configure the copy settings.

12. If necessary, go to the Notification tab and configure notification settings.

13. After completing the copy settings, click the Start button.

14. Go to the terminal where the Master is installed and make sure that in the panel, in the Slave Accounts list, there is a line with the Slave account number. This completes the copy process.

How to start copying from one Master to several Slaves

  1.  Run the provider's terminal, open any chart and install the copier with the Master mode on it. (see above for how to install).
  2.  Run the required number of recipient terminals. Install a copier with Slave mode in each terminal, and connect them to the Master copier. (how to install and connect, see above).

How to start copying from several Master to one Slave

  1. Run the required number of terminals from which trades will be copied. Install a copier with Master mode in each terminal. (see above for how to install).
  2. Launch the recipient terminal. Open as many charts in it as you have supplier terminals, and install a copier with Slave mode in each chart. Connect each Slave to the corresponding Master (see above for how to install and connect). *

* Attention! The Magic number is the number that each copier signs his orders with. Therefore, when installing several Copiers in the Slave mode into one terminal, set a different Magic number for each of these copiers. This is necessary so that Slave copiers do not confuse orders with each other, and everyone works only with their own orders.

For example, 3 copiers in Slave mode are installed in one recipient terminal:

The first Slave was set to Magic number = 1.

We cannot set Magic number = 1 for the second Slave, since it is occupied by the first Slave, so we set Magic number = 2 for the second.

We cannot set Magic number = 1 and Magic number = 2 for the third Slave, since these numbers are occupied by the first and second Slave, so we set Magic number = 3 for the third.

Video instruction for installing Tradee Copier

Read Before Use

This is what you need to know before buying and using Trade copier:

  • Trade copier does not copy transactions via the Internet, the supplier's terminal and the recipient's terminal must be installed on the same computer or VPS server.
  • Before buying, test the demo version of the product with your parameters, and make sure that the utility suits you.
  • The Trade copier MT4 utility does not work in Metatrader 5 and the Trade copier MT5 utility does not work in Metatrader 4. Therefore, to copy between different terminals (МТ4> MT5 or МТ5> МТ4), you need to purchase two versions of Trade copier МТ4 + Trade copier МТ5.
  • Do not install more than one utility on one terminal in “Master” mode.
  • Before changing settings, changing the trading account and updating Trade copier, disable the copying process!
  • Before installing the new version, we recommend to wait until the current orders are closed.
  • When copying trades from Netting accounts, the opening time and price for the Devation and Timeout functions are used from the last trade. Netting - the position accounting system means that at one time there can be only one open position on the account for the same symbol.
  • The utility does not support copying pending orders if the supplier or recipient is a Netting account on MT5.
  • The utility does not support lot calculation "Proportional to balance" and "Proportional + Coefficient" if the supplier or recipient is a Netting account on MT5.
  • Copy trades to a Netting account can only be copied from one Master account.
  • If the accounts of the recipient and the supplier are connected to different brokers, then there may be a discrepancy between the Ask and Bid prices. This can lead to asynchronous triggering of pending orders, stop loss and take profit at the provider and recipient. Therefore, for more accurate copying in such systems, we recommend enabling copying of positions only, disabling copying of pending orders, stop loss and take profit.
  • Partial closing does not work if the “Fixed lot” lot calculation mode is set.
  • Trade copier does not support work on Metatrader VPS, since it is impossible to manage the utility using its interface on this VPS. Use any other VPS that has a desktop and that you can install a terminal on.


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