MT4 Version: Local Trade Copier Pro MT4
MT5 Version: Local Trade Copier Pro MT5
Complete User Documentation — MT4 & MT5
1. OVERVIEW
The Local Trade Copier Pro is a utility designed for traders who want to replicate trades across multiple MetaTrader accounts efficiently. By connecting a source account to one or more destination accounts, it automates the trade copying process, ensuring quick execution and minimal delay. This tool is ideal for traders managing multiple accounts or those using different strategies across accounts.
Who Should Use It: Retail traders looking to manage multiple accounts or automate their trading strategies.
Main Benefit: Save time and reduce manual errors by automating trade copying between accounts seamlessly.
2. INPUT PARAMETERS & SETTINGS
This product shares a common set of general input settings with all Utility products in this series. The following sections are covered in the common guide: Position Sizing, Alert Settings (popup, push notification, email), Trade Time Settings (session-based time filters), Trade Days Settings (per-day enable/disable with broker start and end times, covering Monday through Sunday), and Day-wise Time Filter Settings (close trades if outside valid trading time). For full details refer to the Common General Input Settings Guide. The sections below cover only the product-specific inputs unique to this product.
General Settings
This section controls the core settings for trade copying, including account numbers and trade filters.
| Setting Name | Type | Default Value | Description | Example |
|---|---|---|---|---|
| Source Account Number | long | 4186230 | This is the account number from which trades will be copied. Traders may change this to point to a different source account. | 12345678 — Use this if you want to copy trades from a different account. |
| Destination Account Numbers | string | 20962310,54196337 | These are the account numbers where trades will be copied to. Multiple accounts can be specified for simultaneous copying. | 20962310,54196337 — Ideal for copying to multiple accounts at once. |
| Only Filter Source magic numbers | string | — | Use this to specify magic numbers to filter which trades to copy from the source account. | 12345 — Useful for copying trades from specific strategies only. |
| Only Allow Source magic numbers | string | — | This setting allows only trades with specified magic numbers to be copied, enhancing control over trade selection. | 67890 — To restrict copying to certain strategies. |
| Ignore Trades older than X seconds | int | 10 | This parameter allows you to ignore trades that are older than a specified time, preventing copying of stale trades. | 30 — Use this to avoid copying trades that may no longer be relevant. |
| Delay in Seconds(For Prop Firm) | int | 0 | Set a delay in seconds for copying trades, useful for prop firms that require a specific delay. | 5 — To comply with specific prop firm rules. |
| Multiply Destination Trades [0:disable] | double | 0 | This setting allows you to multiply the lot size of destination trades, enabling customized risk management. | 2 — To double the lot size of copied trades. |
| Copy Source SL and TP | bool | true | This option allows the stop loss and take profit levels from the source account to be copied to the destination account. | true — Ensures that risk parameters are maintained across accounts. |
| Copy Reverse | bool | false | This setting allows trades to be copied in the opposite direction, useful for hedging strategies. | true — To hedge positions by copying trades in reverse. |
| Destination suffix | string | — | This suffix can be added to the destination account names for identification purposes. | _COPY — To easily distinguish copied trades. |
| Source suffix | string | — | This suffix can be added to the source account names for identification purposes. | _SRC — To easily identify the source account. |
| Copy modify of trades | bool | true | This option allows modifications made to trades in the source account to be reflected in the destination account. | true — To keep destination trades aligned with source trades. |
| At a time N transaction will be active | int | 0 | This setting limits the number of active transactions at any given time, helping manage risk. | 5 — To limit active trades to five at once. |
| After N transaction copy will stop for the | int | 0 | This setting stops copying trades after a specified number of transactions, allowing for better control over trade volume. | 10 — To limit copying to ten trades. |
| Drawdown % to start[0 to disable] | int | 0 | This setting defines the drawdown percentage at which trade copying will commence, helping manage risk effectively. | 5 — To start copying trades only after a 5% drawdown. |
Safeguard Settings
This section includes settings that help manage risk and prevent overexposure in trading.
| Setting Name | Type | Default Value | Description | Example |
|---|---|---|---|---|
| Maximum Long Pending Orders [0: disable] | int | 0 | This setting limits the number of long pending orders to prevent excessive exposure in one direction. | 5 — To restrict long pending orders to five. |
| Maximum Short Pending Orders [0: disable] | int | 0 | This setting limits the number of short pending orders, helping maintain a balanced risk profile. | 3 — To limit short pending orders to three. |
3. HOW IT WORKS
Core Calculation & Logic
The Local Trade Copier Pro monitors trades across specified accounts and replicates them in real-time. It calculates trade parameters such as lot size, stop loss, and take profit based on user-defined settings, ensuring accurate copying.
This tool identifies market conditions by tracking the source account's trades. It utilizes a set of rules and filters to determine which trades to copy, optimizing performance based on user preferences.
How It Operates
The Local Trade Copier Pro continuously monitors the source account for new trades, modifications, or closures. When a trade is detected, it triggers the copying process to the designated destination accounts, ensuring swift execution and consistency.
Filtering logic is applied based on user-defined parameters such as magic numbers and trade direction. This ensures only relevant trades are copied, allowing for tailored trading strategies.
Key Features in Detail
This utility offers advanced customization options, allowing traders to filter trades based on various criteria like magic numbers and risk-reward ratios. It supports multiple destination accounts and provides real-time trade copying, making it ideal for managing multiple accounts efficiently.
Step-by-Step Workflow
Step 1: Set Source Account Enter the source account number from which trades will be copied.
Step 2: Define Destination Accounts Specify the destination account numbers where trades will be replicated.
Step 3: Configure Trade Filters Set any filters such as magic numbers or trade direction to customize the copying process.
Step 4: Adjust Lot Size and Risk Parameters Define the lot size and risk-reward ratio for the destination trades.
Step 5: Enable Logging Turn on logging to track the copying process and troubleshoot if necessary.
Step 6: Start the Copier Activate the Local Trade Copier Pro to begin replicating trades.
Step 7: Monitor Performance Keep an eye on the copied trades and adjust settings as needed for optimal results.
4. KEY FEATURES & CAPABILITIES
Explore the unique features that make Local Trade Copier Pro an essential tool for traders managing multiple accounts.
| Feature | Description |
|---|---|
| Multi-Account Support | Copy trades to multiple destination accounts simultaneously for efficient management. |
| Customizable Filters | Apply filters such as magic numbers and trade direction to control which trades are copied. |
| Real-Time Trade Copying | Instantly replicate trades from the source account to destination accounts without delay. |
| Risk Management Options | Set parameters for lot sizes, stop losses, and take profits to manage risk effectively. |
| Logging and Monitoring | Enable logs to track trade copying actions and troubleshoot any issues that arise. |
Quick Start Guide
Follow these steps to get started in under 5 minutes:
- Install the EA: Download and install Local Trade Copier Pro on your MT4 or MT5 platform.
- Set Source Account: Input the source account number from which trades will be copied.
- Define Destination Accounts: Enter the destination account numbers for trade replication.
- Configure Trade Filters: Set any desired filters like magic numbers or trade direction.
- Adjust Lot Size: Specify the lot size for the destination trades according to your strategy.
- Enable Logging: Turn on logging to monitor the copying process.
- Start the Copier: Activate the Local Trade Copier Pro to begin replicating trades.
- Monitor Performance: Regularly check the copied trades and adjust settings as necessary.
You may also be interested in these related products:
Installation Guide for MQL Products | Updating Purchased MQL Products on MT4/MT5 | General Troubleshooting Guide | Indicator Settings / Guide
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