COP Basket EA
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COP Basket EA
Smart Basket Management for MetaTrader 4
COP Basket EA is a professional trade management Expert Advisor for MetaTrader 4 (MT4), designed to manage multiple open positions as one combined trading basket.
The EA does not open trades itself. Instead, it works alongside your existing Expert Advisors or manual trading strategies and automatically manages their positions based on configurable basket profit and loss targets.
Key Features
Basket-Based Trade Management
COP Basket EA continuously monitors the combined financial result of all selected positions.
Individual trades may be in profit or loss. What matters is the total result of the entire basket.
Once the active basket target is reached, the EA automatically closes the managed positions.
Up to 3 Dynamic Profit Levels
The EA provides three configurable Break-Even / Profit Levels.
Each level can be individually enabled or disabled and includes:
- Minimum number of open positions
- Basket profit target
- Target calculated in account currency
This allows the required basket profit to automatically change depending on the number of open positions.
Magic Number Management
Two independent Magic Numbers can be configured.
Each Magic Number can be enabled or disabled separately.
This makes it possible to manage:
- One trading strategy
- Two different trading strategies
- Multiple EAs using the same Magic Number
- Positions opened by other Expert Advisors
If both Magic Number filters are disabled, the EA can operate in Account Mode and manage the relevant positions across the entire account.
Works with Other Expert Advisors
COP Basket EA is designed to work as a separate management system alongside existing trading robots.
Trades do not need to be opened by COP Basket EA.
If a position matches the configured management criteria, it can be included in the basket regardless of which EA originally opened it.
This makes COP Basket EA especially useful as a centralized basket manager for existing automated trading systems.
Basket Stop Loss
A configurable Basket Stop Loss provides additional risk control.
Instead of monitoring the loss of each individual position, the EA monitors the combined result of the managed basket.
When the defined maximum basket loss is reached, the EA automatically closes the managed positions.
Automatic Pending Order Cleanup
When a basket closing condition is triggered, COP Basket EA follows a controlled closing sequence:
Step 1: Close all applicable open market positions.
Step 2: Delete the corresponding pending orders.
This helps prevent remaining pending orders from reopening positions after the basket has already been closed.
Example
Assume the following configuration:
BE Level 1
From 1 position → Target +€1
BE Level 2
From 5 positions → Target +€5
BE Level 3
From 10 positions → Target +€10
If 6 managed positions are currently open, the EA automatically applies the appropriate active basket target.
As soon as the combined result reaches the required target, the basket is closed automatically.
Designed For
COP Basket EA can be particularly useful for:
- Grid trading systems
- Recovery strategies
- Multi-position strategies
- Multi-EA environments
- Basket trading
- Automated profit management
- Centralized risk management
- Existing Expert Advisors without their own basket management
Main Functions
- MetaTrader 4 compatible
- Automatic basket management
- Up to 3 configurable BE / Profit Levels
- Individual activation of each BE level
- Configurable position thresholds
- Profit targets in account currency
- Basket Stop Loss in account currency
- Two independently selectable Magic Numbers
- Whole-account management mode
- Management of positions opened by other EAs
- Automatic closing of market positions
- Automatic deletion of pending orders after position closing
- Suitable for use alongside existing trading systems
Important
COP Basket EA is a trade management tool and does not generate trading signals or open new positions.
Its purpose is to monitor and manage positions that already exist on the trading account.
Trading involves risk. The use of automated risk and basket management cannot guarantee profits or prevent losses. Always test the EA and its settings carefully before using it on a live trading account.
COP Basket EA – Manage multiple trades as one basket.
