This guide explains how to set up and use the Trade Copier EA in MetaTrader 5 (MT5) to copy trades from one account (Sender) to another (Receiver). The EA copies open buy/sell trades and pending orders, with options for lot sizing, symbol adjustments, and risk protection.
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What the Trade Copier Does
- Sender: Monitors trades on your main account and sends them to the Receiver.
- Receiver: Copies trades from the Sender, adjusting lot sizes, symbols, or stop-loss/take-profit as configured.
- Features:
- Copies buy/sell trades and pending orders (limit/stop).
- Adjusts lot sizes (match Sender, fixed, scaled, or risk-based).
- Handles different symbol names between brokers (e.g., "EURUSD" vs. "EURUSD.m").
- Protects your account by limiting daily losses.
Stp-by-Step Setup
Step 1: Install the EA
- Open MT5, go to File > Open Data Folder.
- Place the .mq5 file in MQL5 > Experts (or compile it in MetaEditor if it’s source code).
- Restart MT5 or right-click Navigator > Refresh.
- Attach the EA:
- Open a chart (any symbol).
- Drag the EA from Navigator to the chart.
- Configure inputs in the popup window (see below).
Step 2: Set Up the Sender
- Attach the EA to any chart on the Sender account.
- In the EA settings:
- Set Trading Mode to Sender.
- Set Unique identifier for file to a name.
- No other settings are needed for Sender.
- Click OK to start. The EA will track your trades.
Step 3: Set Up the Receiver
- Attach the EA to any chart on the Receiver account.
- In the EA settings:
- Set Trading Mode to Receiver.
- Set Unique identifier for file to match Sender .
- Configure other settings (see below).
- Click OK. The EA will start copying trades.
Step 4: Test It
- Open a trade on the Sender account (e.g., buy 0.1 lot EURUSD).
- Check the Receiver account for the copied trade.
- Look in the Journal or Experts tab for messages like “Opened position for Sender ticket X.”
- Monitor the log file in MQL5\Files\TradeCopier_Log.txt for info.
Step 5: Go Live
- Start with small lot sizes.
- Watch for delays or broker differences (e.g., spreads, symbol names).
- Keep both MT5 terminals running.
Input Settings: What They Mean and How to Use Them
These settings appear when attaching the EA to a chart. Only Receiver uses most settings; Sender only needs Mode and File Identifier.
Mode Selection
- Trading Mode (Sender or Receiver, Default: Sender)
- What It Does: Sets if this EA sends trades (Sender) or copies them (Receiver).
- How to Set: Choose Sender for master account, Receiver for slave account.
- Tip: Each account needs its own EA instance.
Receiver Settings
Receiver Lot Size Settings
Choose one method for how lot sizes are copied. Default is to match Sender.
- Use Sender lot size (Bool, Default: true)
- What It Does: Copies the Sender’s exact lot size (e.g., Sender’s 0.2 lot = Receiver’s 0.2 lot).
- How to Set: Enable for simple copying. Disable others.
- Tip: Good if accounts have similar balances.
- Use fixed lot size (Bool, Default: false)
- What It Does: Uses a fixed lot for all trades.
- How to Set: Enable and set Fixed lot size value (e.g., 0.1).
- Tip: Safe for consistent risk, but check min lot (e.g., 0.01 for micro accounts).
- Fixed lot size value (Double, Default: 0.1)
- What It Does: The lot size if fixed mode is on.
- How to Set: Enter a value >0 (e.g., 0.01, 0.1). Must match broker’s rules.
- Tip: Use small values for testing.
- Use lot multiplier (Bool, Default: false)
- What It Does: Multiplies Sender’s lot size (e.g., Sender 0.1 lot, multiplier 2.0 = Receiver 0.2 lot).
- How to Set: Enable and set Lot multiplier factor (e.g., 2.0).
- Tip: Useful for scaling risk up/down.
- Lot multiplier factor (Double, Default: 1.0)
- What It Does: The multiplier value.
- How to Set: >0 (e.g., 0.5 halves, 2.0 doubles).
- Tip: Adjust based on account size difference.
- Use risk percentage of balance (Bool, Default: false)
- What It Does: Sets lot size based on % of balance risked per trade, using Sender’s stop-loss.
- How to Set: Enable and set Risk percentage per trade. Needs Sender to set stop-loss.
- Tip: Best for risk management; calculates lot dynamically.
- Risk percentage per trade (%) (Double, Default: 1.0)
- What It Does: % of Receiver’s balance to risk (e.g., 1% on $1000 = $10 risk).
- How to Set: 0.1–100 (e.g., 1.0 for 1%).
- Tip: Keep low (1–2%) for safety.
Receiver Trade Settings
- Copy Sender stop-loss (Bool, Default: true)
- What It Does: Copies Sender’s stop-loss.
- How to Set: Disable if you want no SL.
- Tip: Keep enabled for risk consistency.
- Copy Sender take-profit (Bool, Default: true)
- What It Does: Copies Sender’s take-profit.
- How to Set: Disable for no TP.
- Tip: Usually enabled with SL.
- Copy Sender pending orders (Bool, Default: true)
- What It Does: Copies limit/stop orders (not just open trades).
- How to Set: Disable if only copying open trades.
- Tip: Enable for full strategy copying.
Receiver Symbol Mapping
- Add prefix to symbol (e.g., fx_) (String, Default: "")
- What It Does: Adds text before Sender’s symbol (e.g., "EURUSD" becomes "fx_EURUSD").
- How to Set: Enter prefix if your broker uses one.
- Tip: Leave blank if symbols match.
- Add suffixes to symbol, comma-separated (e.g., .0,m) (String, Default: ".0,m")
- What It Does: Tries suffixes until a valid symbol is found (e.g., "EURUSD.0" or "EURUSD.m").
- How to Set: List suffixes your broker might use, separated by commas.
- Tip: Check broker’s symbol list in Market Watch.
Receiver Risk Protection
- Enable equity protection (Bool, Default: true)
- What It Does: Stops trading if daily loss limits are hit.
- How to Set: Disable for no limits.
- Tip: Keep enabled to protect capital.
- Maximum daily loss percent (Double, Default: 5.0)
- What It Does: Max % equity loss per day (resets midnight GMT).
- How to Set: 0–100 (e.g., 5.0 = 5% of starting equity).
- Tip: 2–5% is typical for safety.
- Maximum daily loss value (Double, Default: 500.0)
- What It Does: Max loss in account currency (e.g., $500).
- How to Set: >0, based on account size.
- Tip: Set to a tolerable loss.
- Close trades on loss limit breach (Bool, Default: true)
- What It Does: Closes all trades/orders if loss limit is hit.
- How to Set: Disable to only stop new trades.
- Tip: Enable for emergency shutdown.
File Settings
- Unique identifier for file (String, Default: "TradeCopier")
- What It Does: Names the communication between Sender and Receiver.
- How to Set: Use same name for both (e.g., "MyCopier").
- Tip: Use unique names if running multiple copiers.
Conclusion
The Golden Local Trade Copier EA is your go-to solution for effortlessly replicating trades across MetaTrader 5 accounts, offering unmatched flexibility and robust risk management. With features like customizable lot sizing, symbol mapping for broker compatibility, and built-in equity protection, it empowers traders to scale their strategies safely and efficiently. Whether you're a beginner managing multiple accounts or an experienced trader following a master strategy, this EA streamlines the process while safeguarding your capital. Download it today from the MQL5 Market, test it on a demo account, and experience seamless trade copying. Join the MQL5 community to share your results, ask questions, and take your trading to the next level!
🔗 Download: Golden Local Trade Copier
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