I have question for you and would be very happy to hear answer from you :)
I want to subscribe a signal. My account is cent like the provider's one.
Providers balance is 15700 USD. My account 30000 EUR. (because my balance is in cents, in my true account is only 300 EUR, I guess the same is about the providers balance).
Providers leverage is 1:100. Mine is 1:1.
what percentage should be set in MT4 (5-95%)?
What deviation/slippage should be set in MT4?
Why am I asking this? because Im wondering if this purchase will be profitable for me...
Lets say that providers monthly growth is about 20%. price is 30 USD.
Im a little bit confused all about this, so your answer would be very useful for me.
You can get detailed info on how this is calculated here but here's a quick answer to your question. We are going to assume that you use 95% of your balance, and we're also going to assume that both you and the subscribers cent accounts report as if they are worth 100 times the value in $. This is not always the case so could screw up the calculations. Also, before even getting into the calculation, I can tell you right now that having a 1:1 leverage is going to be your stumbling block.
So you will be copying only 2% of the providers lot size. The good news is, this is so low that the lowest lot size you will get is 0.01. If the provider is only using a lot size of 0.01, you will match him. But if he is using a larger lot size, you will be stuck at 0.01
My suggestion would be to increase your leverage to 1:50. This would enable you to basically match his lot sizes. If he then continues to make 20% per month than your $ return SHOULD be the same as his which would be 20% of 15700 = $3140 (cents) = $31.40USD = $29EUR
Obviously, that wouldn't cover subscription. So you would then have to consider bumping up your leverage to 1:100. That would double the return (and drawdown). So you could then lower your % allocation.
I suggest you download the calculator in the link I mentioned above. That should help you arrive at the correct figure :)CheersStu