Local Trade Copier EA MT4/5 Settings/Inputs Guide - Part 1

Local Trade Copier EA MT4/5 Settings/Inputs Guide - Part 1

4 September 2021, 11:07
Juvenille Emperor Limited
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✔️ Local Trade Copier EA MT4©: https://www.mql5.com/en/market/product/68950

✔️ Local Trade Copier EA MT5©: https://www.mql5.com/en/market/product/68951


Tip: You can download and try the Local Trade Copier EA MT4 demo version in your demo account: here

Tip: You can download and try the Local Trade Copier EA MT5 demo version in your demo account: here


Paste the downloaded free demo file into your MT4/5 >> File >> Open Data Folder >> MQL4/5 >> Experts folder and restart your terminal. The free demo version is fully functional for a period of 4 hours at a time, on demo accounts only. To reset the trial period, go to MT4/5 >> Tools >> Global Variables >> Control + A >> Delete. Kindly perform this action solely on a non-critical demo account and refrain from doing so in a challenge prop firm account.


Important !!!

  • You must install your Local Trade Copier EA MT4/5 through your MQL5 account following the instructions below for all MT4/5 terminals that you want to use it on. Copy/paste of ex4/5 files will not work for MQL5.com Market purchases.
  • Download the custom MT4/5 terminal from your broker's website and use it to login into your trading account. Do not use the MT4/5 terminal of another broker to login into your trading account, it can affect copying!
  • Do not login into another trading account in your MT4/5 terminal when the Local Trade Copier EA MT4/5 is working, it will stop copying!
  • Do not use the investor password for logging into the receiver account, you will not be able to copy.
  • If your transmitter or receiver account has a suffix after each symbol (for example EURUSD.r), put that in the: Suffix of the Transmitter Account or in Suffix of the Receiver Account, setting (for example .r) in the receiver account settings.



      Local Trade Copier EA MT4/5 Troubleshooting Guide: https://www.mql5.com/en/blogs/post/746561


      Local Trade Copier EA MT4/5 Quick Setup Video:






        Important! The only 2 settings that are filled in the transmitter account side are these 2 highlighted in the screenshot below. All other settings are filled in the receiver account side. There is no meaning in changing any of the other settings in the transmitter account, it will mean nothing!




        Local Trade Copier EA MT4/5 Settings/Inputs Guide


        • Account Mode: Transmitter/Receiver/Self Copier. When Transmitter is selected the EA will use this account as a transmitter (master account) for transmitting trades to other accounts. If Receiver is selected the EA will receive/copy trades from one or more Transmitter accounts. If Self Copier is selected the EA will copy/multiply the trades opened by any expert advisors or manual inputs on the same trading account.
        • Transmitter Account Number: If Receiver is selected above, here you should type the account number of the Transmitter account. If the Transmitter accounts are more than one, you should type their account numbers separated by commas, for example: 123456,654321 (This setting has a meaning for the receiver account mode only).

        • Transmitter Comment: This setting determines the comment that the Transmitter account will apply to each trade when copied to the Receiver account. There are five options available: Leave it empty and no comment will be added to the copied trade on the Receiver account. Write your own comment and the specified comment will be displayed in the comments section of the copied trade on the Receiver account. Type the symbol # and the original comment from the Transmitter trade will be applied to the Receiver copied trade. Type the symbol @ and it will copy the trade ID of the original Transmitter trade and add it as a comment on the copied trade in the Receiver account. Type the symbol % and the magic number of the original Transmitter trade will be included as a comment on the copied trade in the Receiver account. It's important to note that this setting should only be configured on the Transmitter account.
        • Receiver Comment: The comment the Receiver account will print in the comments section, along with every copied trade. When this setting is empty, the Receiver account will print as a comment, whatever is sent from the Transmitter Comment above. When something is filled in this setting, it will override any Transmitter Comment above.  This setting should be filled on the Receiver account side only.

        General Settings

        • Magic Number: The magic number that the EA applies to all its own opened trades, for managing purposes. Don't put 0 in this setting!
        • Magic Numbers to Copy: This setting specifies the magic numbers of the transmitter trades that the ΕΑ will copy. Magic numbers should be separated by commas. For instance, entering 3245,0 will instruct the EA to copy trades with the magic number 3245 and manual trades (which typically have a magic number of 0 by default). If you enclose a magic number within parentheses, such as (14), the EA will copy all variations of magic numbers that include this part. For example, entering 3245,(14),0 will copy trades with the magic number 3245, any trades containing '14' in their magic number (like 214 or 3146), and manual trades. Additionally, to copy a range of magic numbers, use the format 'first-last'. For example, 3245,100-200,0 will copy trades with the magic number 3245, trades with magic numbers ranging from 100 to 200, and manual trades.
        • Maximum Number of Copied Magic Numbers: The maximum number of magic numbers that can be copied at the same time (simultaneously) to the receiver accounts. 

        • Maximum Receiver Account Magic Numbers: This represents the maximum number of different magic numbers that can be present in the receiver account, including trades initiated by other EAs or manual trading. This setting is useful when you have multiple receivers across different charts in the receiver account, each with different magic numbers, but you only want to copy a specified number of them simultaneously. 

        • Magic Numbers Not to Copy:  This setting specifies the magic numbers of the transmitter trades that the ΕΑ will not copy. Magic numbers should be separated by commas. For example, entering 3245,0 will instruct the EA not to copy trades with the magic number 3245 and manual trades (which typically have a magic number of 0 by default). If you enclose a magic number within parentheses, such as (14) the EA will not copy all variations of magic numbers that include this part. For example, entering 3245,(14),0 will not copy trades with the magic number 3245, any trades containing '14' in their magic number (like 214 or 3146), and manual trades. Additionally, to exclude a range of magic numbers from being copied, use the format 'first-last'. For example, 3245,100-200,0 will not copy trades with the magic number 3245, trades with magic numbers ranging from 100 to 200, and manual trades.
        • Symbols to Copy: The receiver symbols separated by comma, that the EA will only copy onto the receiver account. For example if you put EURUSD,GBPUSD the EA will only copy EURUSD and GBPUSD trades. If the receiver account symbols have suffixes, such as '.r', these suffixes should be included in this setting, like so: EURUSD.r,GBPUSD.r
        • Maximum Number of Copied Symbols: The maximum number of symbols that can be copied at the same time (simultaneously) to the receiver accounts. 

        • Maximum Receiver Account Symbols: This represents the maximum number of different symbols that can be present in the receiver account, including trades initiated by other EAs or manual trading. This setting is useful when you have multiple receivers across different charts in the receiver account, each copying different symbols, but you only want to copy a specified number of them simultaneously. 

        • Symbols Not to Copy: The receiver symbols separated by comma, that the EA will not copy onto the receiver account. For example if you put EURUSD,GBPUSD the EA will not copy EURUSD and GBPUSD trades. If the receiver account symbols have suffixes, such as '.r', these suffixes should be included in this setting, like so: EURUSD.r,GBPUSD.r
        • Comments to Copy:  This setting specifies the comments of the original transmitter trades that the ΕΑ will copy to the receiver account. Comments should be separated by commas. For example, entering Expert 1,Expert 2 will instruct the EA to copy original transmitter trades only if the comment is Expert 1 or Expert 2. If you enclose a comment within parentheses, such as (Expert), the EA will copy all variations of comments that include this part. For instance, entering Master,(Expert) will copy trades with the comment Master and any trades containing the part 'Expert' in their comment (like Expert 12, Expert 20, Expert 35, etc.).
        • Comments Not to Copy:  This setting specifies the comments of the original transmitter trades that the ΕΑ will not copy to the receiver account. Comments should be separated by commas. For example, entering Expert 1,Expert 2 will instruct the EA not to copy original transmitter trades if the comment is Expert 1 or Expert 2. If you enclose a comment within parentheses, such as (Expert), the EA will not copy all variations of comments that include this part. For instance, entering Master,(Expert) will not copy trades with the comment Master and any trades containing the part 'Expert' in their comment (like Expert 12, Expert 20, Expert 35, etc.).

        Copying / Multiplying Options

          • Copy on Monday-Sunday:  The default copy time settings of 00:00:00-23:59:59 will copy all day long on. This setting allows you to exclude specific times. For example if you want to pause copying 1 hour before and 1 hour after 15:30, you can put in this setting 00:00:00-14:30:00,16:30:00-23:59:59 and that way the EA will copy up to 14:30, then will pause copying until 16:30 and will copy normally again from 16:30 till midnight. Multiple such time strings can be inserted. If you don't want to copy at all on a specific day, just leave the setting empty. If you set Copy Current Trades=false below, trades that were opened on the transmitter side outside of the copying hours will not be copied to the receiver account when copying resumes.
          • Transmitter Server Offset Hours: Use this setting when your transmitter and receiver brokers have different Marketwatch server times and you wish to use the 'Copy Current Trades', 'Copy New Trades', 'Copying Expiration in Seconds', and 'Copying Delay in Seconds' settings in the receiver account. This setting determines the time difference between the transmitter's MT4/5 >> View >> Marketwatch time and the receiver's MT4/5 >> View >> Marketwatch server time. For example, if the transmitter's Marketwatch server time is 11:30:00 and the receiver's Marketwatch server time is 14:30:00, you should enter -3 in this setting. Conversely, if the transmitter's Marketwatch server time is 14:30:00 and the receiver's Marketwatch server time is 11:30:00, you should enter +3. Remember to fill in this setting in the receiver EA's settings. 

            • Copy Long Trades: True/false for copying long/buy transmitter trades.
            • Copy Short Trades: True/false for copying short/sell transmitter trades.
            • Copy Current Trades: True/false for copying current/already open transmitter trades. Remember to set this to 'false' if you don't want to copy your existing transmitter trades/orders to the receiver side during your initial transmitter-to-receiver setup.  Adjust the 'Transmitter Server Offset Hours' setting above accordingly if you've put 'false' in this setting and your transmitter & receiver brokers operate in different time zones.
            • Copy New Trades: True/false for copying new transmitter trades. Adjust the 'Transmitter Server Offset Hours' setting above accordingly if you've put 'false' in this setting and your transmitter & receiver brokers operate in different time zones.
            • Copy Take Profit: True/false for copying the Take Profit level of transmitter trades onto the receiver ones.
            • Take Profit Multiplier: This setting allows you to increase or decrease the copied TP levels of the transmitter trades. This multiplier is 1 by default in order to copy the original TP levels, but if the user puts for example Take Profit Multiplier=1.5 the receiver copied trade will increase the applied take profit level by 150%. In other words a 100 points transmitter TP will be copied as a 150 points receiver TP.
            • Add/Subtract Points in TP Level: With this setting you can add or subtract certain number of points in the copied take profit levels. For this setting to work Copy Take Profit must be enabled and Take Profit Multiplier=1. For example if you put 20 in this setting, a 100 points transmitter take profit will be copied as 120 points in the receiver side. If you put -30 a 100 points transmitter take profit level will be copied as 70 points in the receiver side. 

            • Copy Stop Loss: True/false for copying the Stop Loss level of transmitter trades onto the receiver ones.
            • Stop Loss Multiplier: This setting allows you to increase or decrease the copied SL levels of the transmitter trades. This multiplier is 1 by default in order to copy the original SL levels, but if the user puts for example Stop Loss Multiplier=2 the receiver copied trade will increase the applied stop loss level by 200%. In other words a 200 points transmitter SL will be copied as a 400 points receiver SL.
            • Add/Subtract Points in SL Level: With this setting you can add or subtract certain number of points in the copied stop loss levels. For this setting to work Copy Stop Loss must be enabled and Stop Loss Multiplier=1. For example if you put 20 in this setting, a 100 points transmitter stop loss will be copied as 120 points in the receiver side. If you put -30 a 100 points transmitter stop loss level will be copied as 70 points in the receiver side. 

            • Allow TP/SL Manual Change: True/false of the option to allow the user to change the applied TP/SL levels of the receiver copied trades manually. The EA will keep updating the applied TP/SL levels onto the receiver copied trades as long as the user hasn't modified them manually. The moment he/she does, the EA will no longer update them according to the transmitter original trades. This setting applies to pending orders too.
            • Copy Market Trades: True/false for copying market trades. 

            • Copy Pending Orders: True/false for copying pending orders. If it is false the EA will only copy these pending orders when they will be triggered and opened. 
            • Maximum Spread in Points: The maximum allowed spread on the receiver account, when copying a trade.
            • Maximum Slippage in Points: The maximum allowed slippage on the receiver account, when copying a trade.
            • Maximum Copying Difference in Points: The maximum allowed difference in price between transmitter and receiver accounts, when copying a trade.
            • Use Copying Expiration in Seconds: True/false option to use the Copying Expiration in Seconds setting below.

            • Copying Expiration in Seconds: The maximum allowed delay in seconds when copying a trade between transmitter and receiver accounts. For example if you put 60 in that setting and a trade that opened in the Transmitter account, hasn’t been copied in the Receiver account within 60 seconds (for various reasons, no liquidity or the instrument may be outside its trading hours, something usual with commodities or indexes) it will not be copied at all. Adjust the 'Transmitter Server Offset Hours' setting above accordingly if your transmitter & receiver brokers operate in different time zones.
            • Copying Delay in Seconds: With this setting you can copy a transmitter trade with a certain number of seconds delay to the receiver side. Adjust the 'Transmitter Server Offset Hours' setting above accordingly if your transmitter & receiver brokers operate in different time zones.
            • Retry Attempts in Seconds: By default, this setting is set to 0, which means that the EA will continuously attempt to copy a trade if it is not copied instantly, for any reason (such as the market being closed or insufficient funds). If you specify a larger number of seconds, for example, 30, the EA will attempt to copy the trade every 30 seconds. 

            • Better Price: True/false for copying transmitter trades at a better, worse or the same price onto the receiver account(s), according to your setting below. Warning: if this option is true you may miss copying a transmitter trade completely if the market moves quickly against you.
            • Better Price Difference in Points: This setting makes it possible to open copied receiver trades at a better, worse or the same price onto the receiver account(s), according to your setting. If you put 0 in this setting, the EA will copy the transmitter trade onto the receiver account at the same or better price. If the transmitter buy open price is 1.08800 and this setting is 50, the receiver copied buy trade will be opened at 1.08750. There is also an option to open copied receiver trades when a certain level of profit is reached on the transmitter side, by using a negative value in this setting. For example if the transmitter buy open price is 1.08800 and this setting is -50, the receiver copied buy trade will be opened at 1.08850.

            • Reverse Copying: True/false for reverse copying of the transmitter trades. If this is true the EA will open a short/sell trade on the receiver account(s) for every long/buy one of the transmitter account(s) and vice versa.
            • Keep Original TP/SL Distances: True/false. When set to false, the EA will copy the original TP/SL levels of the transmitter trade in normal copying. In reverse copying, if a buy transmitter trade is opened with a 100-point TP and a 200-point SL, the opposite receiver trade will be copied with a 100-point SL and a 200-point TP to ensure both trades close simultaneously. When set to true, the EA will adjust the TP/SL levels based on the differences in open price. For example, if a buy transmitter trade at 1.08700 with a 1.08900 TP and a 1.08500 SL is copied to the receiver side at 1.08720, the TP will be 1.08920, and the SL will be 1.08520. This adjustment applies to both normal and reverse copying.
            • Min Distance in Points for Same Symbol/Direction Trades/Orders: This setting restricts the copying of market trades or pending orders with the same symbol and direction based on their proximity to each other. Its purpose is to prevent the duplication of numerous and closely spaced trades/orders involving the same symbol and direction. For instance, if you set 'Min Distance in Points for Same Symbol/Direction Trades/Orders: 100', the EA will only copy trades/orders of the same symbol and direction if they are at least 100 points apart. For example, if a buy trade for EURUSD is copied at 1.09500, and a pending buy stop order for EURUSD is placed in the transmitter account at 1.09570, it will not be copied to the receiver side. This is because the distance between the pending order and the already copied EURUSD buy trade is 70 points, which is less than the specified 100-point threshold in this setting.

            Lot Size Management

            • Lot Size Type: None/Same Lot Size/Fixed Lot/Multiplier/Multiplier by Balance/Multiplier by Equity/Proportional by Balance/Proportional by Equity/Proportional by Free Margin/Proportional Multiplier by Balance/Proportional Multiplier by Equity/Risk per Trade in % of Balance/Risk per Trade in % of Equity/Risk per Trade in % of Free Margin/Risk per Trade in Money/Lot Size per 1000 of Balance/Lot Size per 1000 of Equity. This setting has only meaning on the Receiver account(s). 

            If None is selected, the EA will not copy any transmitter trades.

            If Same Lot Size is selected, the EA will copy the receiver trades with the same lot size as the original transmitter trades.

            If Fixed Lot is selected, the EA will copy the transmitter trades onto the receiver account(s) with a fixed lot size as per below Fixed Lot Size setting.

            If Multiplier is selected, the EA will use the below Multiplier setting for copying transmitter trades onto the receiver account(s).

            If Multiplier by Balance is selected, the EA will use the below Multiplier by Balance setting for calculating the multiplier that will be used for the receiver copied trades as follows. If the receiver account balance is $10000 and the Multiplier by Balance setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).

            If Multiplier by Equity is selected, the EA will use the below Multiplier by Equity setting for calculating the multiplier that will be used for the receiver copied trades as follows. If the receiver account equity is $10000 and the Multiplier by Equity setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).

            If Proportional by Balance is selected, the EA will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) balance only. For example, if the transmitter balance is $2000 and the receiver balance is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

            If Proportional by Equity is selected, the EA will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) equity only. For example, if the transmitter equity is $2000 and the receiver equity is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

            If Proportional by Free Margin is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) free margin only. For example, if the transmitter free margin is $2000 and the receiver free margin is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

            If Proportional Multiplier by Balance is selected, the EA will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to receiver account's balance with an additional multiplier applied, called Proportional Multiplier by Balance that can be adjusted below. This Proportional Multiplier by Balance is 1 by default, so if for example the default Proportional Multiplier by Balance=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Balance value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Balance value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

            If Proportional Multiplier by Equity is selected, the EA will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to receiver account's equity with an additional multiplier applied, called Proportional Multiplier by Equity that can be adjusted below. This Proportional Multiplier by Equity is 1 by default, so if for example the default Proportional Multiplier by Equity=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Equity value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Equity value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

            If Risk per Trade in % of Balance is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account balance in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

            If Risk per Trade in % of Equity is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account equity in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

            If Risk per Trade in % of Free Margin is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account free margin in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

            If Risk per Trade in Money is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined amount in account currency in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

            If Lot Size per 1000 of Balance is selected, the EA will use the below Lot Size per 1000 of Balance setting, to calculate the lot size of the receiver copied trades, based on the balance of the receiver account. For example if Lot Size per 1000 of Balance=0.03 is inserted and the receiver account balance is $10000, the lot size of all receiver copied trades will be 0.30 lots.

            Finally if Lot Size per 1000 of Equity is selected, the EA will use the below Lot Size per 1000 of Equity setting, to calculate the lot size of the receiver copied trades, based on the equity of the receiver account. For example if Lot Size per 1000 of Equity=0.03 is inserted and the receiver account equity is $10000, the lot size of all receiver copied trades will be 0.30 lots.

              • Fixed Lot Size: The fixed lot size of the copied trades onto the receiver account(s).

              • Multiplier: The times that the multiplied trade opened by the EA will be larger than the original transmitter trade. For example if the Multiplier is 1.5 and the transmitter trade is 0.10 lots, the receiver copied trade will be 0.15 lots. If the Multiplier is 2.0 and the transmitter trade is 0.22 lots, the receiver copied trade will be 0.44 lots.
              • Multiplier by Balance: The amount that will be used for the Multiplier by Balance lot size type above. For example if the receiver account balance is $10000 and this Multiplier by Balance setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).

              • Multiplier by Equity: The amount that will be used for the Multiplier by Equity lot size type above. For example if the receiver account equity is $10000 and this Multiplier by Equity setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).
              • Proportional Multiplier by Balance: This setting will only be applied if Proportional Multiplier by Balance is selected in the Lot Size Type setting above. The Proportional Multiplier by Balance value is 1 by default, so if for example the default Proportional Multiplier by Balance=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Balance value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Balance value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

              • Proportional Multiplier by Equity: This setting will only be applied if Proportional Multiplier by Equity is selected in the Lot Size Type setting above. The Proportional Multiplier by Equity value is 1 by default, so if for example the default Proportional Multiplier by Equity=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Equity value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Equity value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

              • Risk per Trade in % of Balance: The percentage of account balance that will be risked on each receiver copied trade, if Lot Size Type=Risk per Trade in % of Balance above.

              • Risk per Trade in % of Equity: The percentage of account equity that will be risked on each receiver copied trade, if Lot Size Type=Risk per Trade in % of Equity above.

              • Risk per Trade in % of Free Margin: The percentage of account free margin that will be risked on each receiver copied trade, if Lot Size Type=Risk per Trade in % of Free Margin above.

              • Risk per Trade in Money: The money in account currency that will be risked on each receiver copied trade, if Lot Size Type=Risk per Trade in Money above.

              • Lot Size per 1000 of Balance: The lot size that will be used for the calculation of the Lot Size per 1000 of Balance Lot Size Type. For example if Lot Size per 1000 of Balance=0.03 is inserted in this setting and the receiver account balance is $10000, the lot size of all receiver copied trades will be 0.30 lots.

              • Lot Size per 1000 of Equity: The lot size that will be used for the calculation of the Lot Size per 1000 of Equity Lot Size Type. For example if Lot Size per 1000 of Equity=0.03 is inserted in this setting and the receiver account equity is $10000, the lot size of all receiver copied trades will be 0.30 lots.
              • Automatic Split of Copied Trades: True/false option for automatically splitting receiver copied trades when the lot size about to be copied exceeds the maximal volume allowed for the specific symbol/instrument. For instance, if a 25-lot BTCUSD trade is about to be opened on the receiver side, and the maximal volume for BTCUSD in the receiver account is 10 lots, the receiver EA will split it into two 10-lot BTCUSD trades and one 5-lot BTCUSD trade, in order to comply with the maximal volume limitation. 

                • Split Copied Trades in Parts: With this setting you can copy the receiver copied trades in many lot size parts, overcoming brokers limitations in this area. If your broker has a small maximum lot size limit or the market liquidity is thin and you can't open large trades with their original lot size, you can split your receiver copied trades into smaller parts. If for example Split Copied Trades in Parts=3 a 1 lot transmitter trade with a Multiplier=1 lot size type setting in the receiver side, will be copied as three 0.33 0.33 and 0.34 trades.
                • Split Copied Trades in Parts of: This setting allows you to divide your receiver copied trades into smaller parts, each below a specified lot size, in compliance with any restrictions imposed by your broker, typically applicable to prop firms, regarding the maximum lot size for opened trades in your receiver account. For instance, if you input 0.15 into this setting and a 0.7 lot trade is about to be copied into the receiver account, it will be copied as four 0.15 lot trades and one 0.1 lot trade. Any non-zero value entered in this setting will override any other setting in the 'Split Copied Trades in Parts' option above. 

                • Custom Symbol Fixed Lot Sizes: This setting allows for different fixed lot sizes to be applied to various symbols, thereby overriding the universal fixed lot size specified in the receiver settings. For example, if a 0.2 fixed lot size is set universally, and you input EURUSD0.15,GBPUSD0.3 in this setting, the copied trades for EURUSD will use a 0.15 fixed lot size, while GBPUSD trades will use a 0.3 fixed lot size. All other symbol trades will be copied with the universal 0.2 fixed lot size setting. It's important to note that this setting only takes effect when 'Fixed Lot' is selected in the 'Lot Size Type' setting above. Additionally, if the receiver account symbols have suffixes, such as '.r', these suffixes should be included in this setting, like so: EURUSD.r0.15,GBPUSD.r0.3
                • Custom Symbol Multipliers: This setting allows different multipliers for various symbols, overriding the universal multiplier applied in the receiver settings. If for example a 2 multiplier has been set and in this setting you put: EURUSD3,GBPUSD4 the EURUSD receiver copied trades will be copied with a 3 multiplier and the GBPUSD trades with a 4 multiplier. This setting works only when Multiplier or Proportional Multiplier are selected on the Lot Size Type setting above. Also note that any suffixes the receiver account has on its symbols must be included. If for example the receiver account has a .r suffix in its symbols, this setting should be set as: EURUSD.r3,GBPUSD.r4
                • Copying from Symbol Trade/Order Number: This setting enables you to specify from which point onwards trades/orders should be copied for all symbols. For example, if you input 4 into this setting, the ΕΑ will skip copying the initial three trades/orders of each symbol from the transmitter account to the receiver account. Instead, it will start copying from the fourth trade/order onward. If any trade/order with the same symbol as the first three transmitter trades/orders is closed, the count resets, and the receiver resumes counting from the still open transmitter trades/orders. You can also set separate settings for individual symbols. For instance, if you input 2,GBPUSD3,USDJPY4 the ΕΑ will copy all symbols' trades/orders from the second trade/order onwards. Specifically, it will copy GBPUSD trades/orders from the third trade/order onwards and USDJPY trades/orders from the fourth trade/order onwards. Additionally, ensure that any suffixes present in the receiver account's symbols are accounted for. If, for example, the receiver account has a .r suffix in its symbols, the setting should be adjusted accordingly. For instance: 2,GBPUSD.r3,USDJPY.r4

                • Total Symbol Copied Trades: The maximum number of trades per symbol separated by comma that can be copied onto the receiver account each time. For example if this setting is EURUSD1,GBPUSD2 the receiver account will copy only a total of 1 EURUSD trade and 2 GBPUSD trades onto the receiver account each time. For example if a total of 1 EURUSD trades and 2 GBPUSD trades have already been copied onto the receiver account, no more trades of these symbols will be copied onto the receiver account. This setting applies to pending orders too (if Copy Pending Orders=true) and resets when any receiver copied trades are closed.
                • Total Account Copied Trades: The maximum number of all trades that can be copied onto the receiver account each time. For example if this setting is 5 the receiver account will copy only up to 5 trades each time. So if 2 EURUSD trades and 3 GBPUSD trades has been copied onto the receiver account, the EA will not copy any other trades because the total number of the copied receiver trades is over the 5 limit. This setting applies to pending orders too (if Copy Pending Orders=true) and resets when any receiver copied trades are closed.
                • Maximum Risk % per Symbol: This setting enables you to establish a percentage-based limit on the cumulative risk associated with all trades/orders copied for the same symbol. If the total risk for that symbol reaches this predefined limit, the copying process will temporarily pause. For example, if you input 2 into this setting, the ΕΑ will copy trades/orders for each symbol with a combined risk percentage of up to 2%. Please note that this setting applies only to receiver copied trades with an applied Stop Loss. If you enter a non-zero value in this setting, it will prevent any trade/order without an applied SL from copying to the receiver account. You can also customize settings for individual symbols. For example, if you enter 2,GBPUSD3,USDJPY4 the ΕΑ will copy trades/orders for each symbol with a combined risk percentage of up to 2%. Specifically, it will copy GBPUSD trades/orders with a combined risk percentage of up to 3% and USDJPY trades/orders with a combined risk percentage of up to 4%. Additionally, ensure that any suffixes present in the receiver account's symbols are considered. For instance, if the receiver account's symbols have a .r suffix, adjust the setting accordingly. For example: 2,GBPUSD.r3,USDJPY.r4

                • Maximum Risk % per Currency: This setting enables you to establish a percentage-based limit on the cumulative risk associated with all trades/orders copied for the same currency. If the total risk for that currency reaches this predefined limit, the copying process will temporarily pause. For example, if you input 2 into this setting, the ΕΑ will copy trades/orders for each currency with a combined risk percentage of up to 2%. Please note that this setting applies only to receiver copied trades with an applied Stop Loss. If you enter a non-zero value in this setting, it will prevent any trade/order without an applied SL from copying to the receiver account. You can also customize settings for individual currencies. For example, if you enter 2,EUR3,GBP4 the ΕΑ will copy trades/orders for each currency with a combined risk percentage of up to 2%. Specifically, it will copy EUR trades/orders with a combined risk percentage of up to 3% and GBP trades/orders with a combined risk percentage of up to 4%.
                • Maximum Account Risk %: This setting allows you to set a percentage limit on the total risk of all receiver copied trades/orders. Copying will pause if this limit is reached. Please note that this setting applies only to receiver copied trades with an applied Stop Loss. If you enter a non-zero value in this setting, it will prevent any trade/order without an applied SL from copying to the receiver account.

                • Total Symbol Copied Volume: The maximum volume per symbol separated by comma that can be copied onto the receiver account each time. For example if this setting is EURUSD1,GBPUSD2 the receiver account will copy only a total of 1 lot EURUSD trades and 2 lots of GBPUSD trades onto the receiver account each time. For example if a total of 1 lot EURUSD trades and 2 lots of GBPUSD trades have already been copied onto the receiver account, no more trades of these symbols will be copied onto the receiver account. This setting applies to pending orders too (if Copy Pending Orders=true) and resets when any receiver copied trades are closed.
                • Total Account Copied Volume: The maximum volume of all trades that can be copied onto the receiver account each time. For example if this setting is 2 the receiver account will copy only a certain number of trades with a total lot size of 2 lots. So if a 1 lot EURUSD trade and a 1 lot GBPUSD trade has been copied onto the receiver account, the EA will not copy any other trades because the total lot size of the copied receiver trades is over the 2 lots limit. This setting applies to pending orders too (if Copy Pending Orders=true) and resets when any receiver copied trades are closed.
                • Minimum Receiver Lot Size: The minimum lot size that will be copied onto the receiver account. If for example the receiver calculation gives a 0.05 lot trade to be copied and this setting is 0.10, the receiver trade will be copied as 0.10 and not as 0.05 lot. In case your broker uses a smaller than 0.01 lot size, for example 0.001 or 0.0001 you need to put here this minimum lot size setting in order to be able to copy trades smaller than 0.01. This is needed for binary accounts and specifically copying of volatility indexes.
                • Maximum Receiver Lot Size: The maximum lot size that will be copied onto the receiver account. If for example the receiver calculation gives a 7.25 lots trade to be copied and this setting is 5, the receiver trade will be copied as 5 and not as 7.25 lots.
                • Ignore Receiver Lot Size Below: This setting allows control over the minimum lot size that will be copied onto the receiver account. If for example you have an Ignore Copying Lot Size Below=0.5 setting and a receiver trade is about to be copied with a 0.2 lot size, it will be ignored and will NOT be copied at all. In case your broker uses a smaller than 0.01 lot size, for example 0.001 or 0.0001 you need to put this minimum lot size setting in order to be able to copy trades smaller than 0.01. This is needed for binary accounts and specifically copying of volatility indexes.
                • Ignore Receiver Lot Size Above: This setting allows control over the maximum lot size that will be copied onto the receiver account. If for example you have an Ignore Copying Lot Size Above=5 setting and a receiver trade is about to be copied with a 8.2 lots size, it will be ignored and will NOT be copied at all.
                • Ignore Transmitter Lot Size Below: This setting allows control over the minimum lot size of the original transmitter trades that will be copied onto the receiver account. If for example you put Ignore Transmitter Lot Size Below=0.5 a transmitter trade of 0.2 lots it will be ignored and will NOT be copied at all. In case your broker uses a smaller than 0.01 lot size, for example 0.001 or 0.0001 you need to put this minimum lot size setting in order to be able to copy trades smaller than 0.01. This is needed for binary accounts and specifically copying of volatility indexes.
                • Ignore Transmitter Lot Size Above: This setting allows control over the maximum lot size of the original transmitter trades that will be copied onto the receiver account. If for example you put Ignore Transmitter Lot Size Above=5 a transmitter trade of 8.2 lots it will be ignored and will NOT be copied at all.
                • Minimum Volume Step: The default value is 0.01 and fits the majority of forex brokers. In case your broker uses a smaller than 0.01 lot size, for example 0.001 or 0.0001 you need to put here this minimum lot size setting in order to be able to copy trades smaller than 0.01. This is needed for binary accounts and specifically copying of volatility indexes.


                For the Part 2 of the Settings/Inputs Guide, please click here: https://www.mql5.com/en/blogs/post/752549



                ✔️ Local Trade Copier EA MT4©: https://www.mql5.com/en/market/product/68950

                ✔️ Local Trade Copier EA MT5©: https://www.mql5.com/en/market/product/68951


                Tip: You can download and try the Local Trade Copier EA MT4 demo version in your demo account: here

                Tip: You can download and try the Local Trade Copier EA MT5 demo version in your demo account: here


                Paste the downloaded free demo file into your MT4/5 >> File >> Open Data Folder >> MQL4/5 >> Experts folder and restart your terminal. The free demo version is fully functional for a period of 4 hours at a time, on demo accounts only. To reset the trial period, go to MT4/5 >> Tools >> Global Variables >> Control + A >> Delete. Kindly perform this action solely on a non-critical demo account and refrain from doing so in a challenge prop firm account.



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