ACCOUNT COPIERS – USING A FOREX ACCOUNT COPIER
The Forex market is a thriving place where people all over the world are buying and selling currencies in order to make money for themselves. And if you’re reading this article there’s a good chance you’re already involved in the market, or at least seriously considering becoming so. But there are other ways to make money trading on Forex besides just making money trading on Forex, if you catch my drift. You can also make money selling your successful trading strategy to other traders. And a great way to do that is to actually sell real-time trading signals through an account copier.
WHAT IS AN ACCOUNT COPIER?
A Forex account copier is used to copy the signals you send to your trading platform, sending them as well to another trader’s or multiple traders’ platforms, which process those signals and make the same trades for them as you just made yourself. This way, if you have a trading strategy that’s making you money, you can sell those signals to other traders, either at a specific rate or for a percentage of the profit they make from using them, increasing your own profit by that much more.
HOW DOES IT WORK?
A Metatrader 4 or MT4 account copier works by designating one terminal as the “master” and one or more other terminals as “slaves.” It then runs an expert advisor on the master terminal, logging and copying your trades, then sending a signal to a different expert advisor on the slave terminals, which processes those signals and makes the same trades for those accounts. This all happens over the internet in milliseconds, so that the slave terminals are making the same trades at almost the exact same time as the master terminal.
WHAT IS THE BENEFIT TO YOU?
The obvious benefit is the chance to make more money. As long as you have a successful trading strategy that consistently makes a profit over a long period of time, then there will be people willing to pay you for your trading signals. Since you can sell those signals for a percentage of the money that your clients are making with them, the risk to you is nil, and the risk to them is minimal since they’re not paying out of pocket. True, they’re risking their own deposits, but that’s a manageable risk since you will have shown them proof that your signals are worth paying for.
HOW DO YOU PROVE YOUR SIGNALS WORK?
As soon as you set up your Forex account, be sure to register it with a reputable third-party monitoring site. This will be something you can show potential clients, demonstrating how effective your strategy is, how much profit it’s made, and giving them a detailed history of all of your trades. As well, you can set your possible clients up with an investor password for your actual Forex trading account. This way they can log in to your account with your broker. They won’t be able to change anything, but they will be able to look over all of your trading history and check out your charts and graphs to see how well your strategy works.
CAN IT COPY TRADES FROM A TRADING ROBOT?
This is another great advantage of an account copier. If you have an automated trading system that is consistently making money, you can use it in tandem with your account copier so that your robot’s trades get copied to your investors’ accounts. If done properly, you can have a fully automated business where you hardly even have to monitor your account, and make money both through your trading robot and through the signals you sell of its trades.
HOW DO YOU FIND AN ACCOUNT COPIER?
Forex forums are a good place to look. There are many of them all over the internet with thousands of traders discussing the best (and the worst) software packages available. With some careful research you can get a good idea of which account copiers are the best to try.
If you would like more information on Account copier or general information on Forex trading, visit my web site at http://multiterminal.net
PowerTradeCopier – New Generation of Account Copiers
Forex Copier Based on MT4 Scripts Local Version
httpv://www.youtube.com/watch?v=qbRnYlpoPa8&hd=1
Delay = script delay (about 0.5 sec) + MT4 delay (0.6 sec) + execution time = 1.1 sec + execution time
Script delay - script polls MT4 every N sec. Usually N = 0.4 – 1 sec.
MT4 delay – MT4 has build-in delay 647 ms
PowerTradeCopier
Delay = execution time
Forex Copier Based on MT4 Scripts NET Version
Delay = script delay (about 0.5 sec) + MT4 delay (0.6 sec) + execution time + Internet Delay (about 2 sec) = 3.1 sec + execution time
PowerTradeCopier
Delay = execution time
You Are Loosing 2+ pips On Each Order Not Using  PowerTradeCopier Read more
Forex Software for Trading
Forex trading software is a very useful tool for forex trading, but before talking about its strengths and weaknesses we would like to help you to understand why you need to use forex trading software and why it is so helpful.
Forex (Foreign Exchange Market) is a worldwide financial market, where you can trade currencies. Forex operates twenty-four hours a day, five days a week (Monday-Friday), and its participants are residents of many different countries from all over the world. The Foreign Market simplifies trading operations between residents of different nations and allows to convert currencies from any country to another. The need for forex trading software arose in the 1970s, when floating exchange rates appeared.
Forex trading software is quite diversified, and many programs appear and disappear rather quickly. The main goal of the forex software is to help traders to make better decisions in the course of online currency trading. In addition, it should be mentioned that you should always know exact foreign exchange rates in order to reduce risk of forex trading; high-quality forex trading applications regularly update these data in order to keep up with rapid changes in currency valuations. There are a lot of software suppliers for forex investing, but they all can use only one of two operating methods: manual or automatic. That is why a trader should make a decision and choose if he wants to use schemes or calculated decisions.
One of the most important things a forex trader must do is to choose the best forex software. Remember that advertisement plays no part in this process. You shouldnât believe the promises on the sales pages, but listed to word of mouth, read forums, reviews, and responses, and only then you will be able to find the best forex trading software. Before buying any forex trading software read the list of possibilities of the chosen program and use a demo-version of such application, which is generally available. As a rule, there are many different price offers for forex trading software. Remember that the rule âthe higher price is â the betterâ doesnât work here, because your personal tastes play a very significant role in selection of forex trading software.
It should be noted that purchase of forex trading software doesnât guarantee that you will definitely make profit. Quite the contrary, the majority of traders will fail. According to statistics, 96% of forex traders eventually lose money and quit the Foreign Exchange Market. In spite of such low percent of successful traders, there are a lot of advantages in online forex trading. The market is constantly open, co you can make trades at any time, beginning from the Sunday evening, when the market opens in Australia, and ending with Friday evening in New York. Transaction costs are quite low and are included in the cost of the trade, so if you choose a high-quality forex trading software, you can achieve success.
In case you have really good forex trading software, you can afford yourself trading in larger amounts, but if you are a beginner, it would be better to trade in low amounts. When you do not have too much money for trading, even $1000 is considered as a reasonable capital. In reality $1000 is not big money, and it is very difficult to make profit from a small capital. But there is one common rule, which does not depend on the amount of capital: you should always do risk management. The proper forex trading software can do a lot in favor of risk management.
When you buy a forex trading software, you shouldnât expect it to work âout of the boxâ without any adjustment or involvement from your side. You should have your own trading ideas, which are very significant for proper work of your forex trading software. First of all, your own strategy should have clear direction, but at the same time it should be flexible enough to adapt to the ever-changing situation on the market. The forex software allows you to automate trading, which means that you may sleep or leave the computer table, and the forex robot will still be working. It is great, but at the same time you should develop a correct and safe trading scheme, which will be able to stop losses when necessary.
You ability to reads charts and understand trends is vital for adjustment of forex trading software. There are several types of charts, which are used in the forex market. The most common type of chats is a candlestick chart. Candlesticks have been in use since the 18th century. Line chart or bar chart is another type of charts, which is used by a considerable number of traders. Line chart allow you to see some important information, including high and low for the period, opening price and also the point of closing the price. It is a true science to be able to determine the direction of price movement on the charts, and if you master skills in this direction, your forex software will bring you a lot of money.
The forex trading software is not a universal âpanaceaâ which can solve all your problems easily and perform perfectly in every situation. If you learn to read forex indicators, you will have an opportunity to make profit, but predictability of trends is limited to a certain point. There are a lot of variables and events, which influence on the situation, and you are not always able to perceive them. Some traders try to predict situation on the Foreign Exchange Market by manual reading of various charts, but such way of prediction is far less accurate in comparison to forex trading software that has a lot more accurate tools for weighing the situation.
For starters, the forex trading software should be tested on a demo account in order to understand how it operates and what it can do. Usage of demo accounts is a must if you are a new trader, because even experienced traders not always start trading on a real account with new forex trading software platforms. It is very difficult to examine all features of a trading platform at first glance. Only when you are experienced enough and know how to operate the forex trading software, you can start risking real money on the foreign exchange.
Popular Forex Software:
- Metatrader Acount Copier – copy trades from one (or several) master MetaTrader 4 account(s) to one or several slave MetaTrader 4 account(s);
- Copier From MT5 to MT4 – copy trades from one (or several) master MetaTrader 5 account(s) to one or several slave MetaTrader 4 account(s);
- DDE Tool for MT4 – import any data in real time from Metatrader 4 to third-pary software (supported DDE protocol);
- MetaTrader AutoOptimizer – optimize expert advisor or several expert advisors simultaneously in fully automated mode;
- Metatrader News Tool – forex calendar linked to your Metatrader;
- Virtual Stops Manager – your broker will not know where are your stops actually located;
- Metatrader Reports Parser .
2011 Š http://iticsoftware.com
PowerTradeCopier Forex Software
What is PowerTradeCopier Forex Software?
The PowerTradeCopier is a forex software that works with MetaTrader4 trading platforms and allows you to copy trades from one or more Master terminals to one or more Slave terminals. The slave terminals may be on the same or different brokers. (The MT4 multi terminal tool provided by MetaQuotes allows trading multiple accounts on a single broker platform only)
The Master terminals and PowerTradeCopier forex software run on our computer.
The Master terminal is our MT4 broker platform running on our computer.
The Slave terminals and PowerTradeCopier forex software run on your computer.
The Slave terminal is your MT4 broker platform running on your computer.
All account information (logins and passwords and server names) for the Masters and Slaves are set up in the PowerTradeCopier program. The passwords for the slave terminals must be the regular passwords and NOT the investor passwords. The server names can be found in the server tab of the MT4 tools/options screen.
When we enter a trade on the Master Terminal (the MT4 platform on our computer), the trade is âcopiedâ via the PowerTradeCopier forex program on your computer to its server. The server then logs into each of your Slave broker accounts and âcopiesâ the trades (using the rules you set up in the PowerTradeCopier program for each Slave). Because our server is fast and reliable, these trades are âcopiedâ very quickly. The trades can also be modified or closed from our Master terminal.
Notes:
You do not need to have the MT4 Slave terminals running on your computer but it is helpful to do so, especially at first, so that you can see that the trades are being executed on the slaves as you expect them to be. But you have to run slave PowerTradeCopier 24/5.
During times of high volatility, especially during important news, some brokers will go into modes where they will dramatically increase spreads, suspend trading, or just stop working altogether for several minutes. If possible, avoid trying to enter, exit or modify trades during these times.
If your operating system is Vista or Windows7, you may need to run PowerTradeCopier in administrator mode. In Windows7 you can do this by right clicking on the PowerTradeCopier icon and selecting âRun in Administratorâ in the drop down menu.
PowerTradeCopier Acount Copier
Metatrader Account Copier (Metatrader Multiterminal) new options
We have added very useful options for our metatrader multiterminal PowerTradeCopier
Reverse – will help traders make loss strategies profitable. Long orders copied as short orders and vice versa.
Hidden – Stop Loss and Take Profit will be hidden from broker. Order will copyed without StopLoss and TakeProfit. The values of StopLoss and TakeProfit profit stored in the memory. When level of order is executed, order will be opened as market order.
Spread_Control – StopLoss and(or) TakeProfit will be postponed (on difference between new spread and old spread) if the broker will expand the spread
Metatrader 5 – Metatrader 4 Account Copier
Metatrader 5 platform offers the better tools for analysis , autotrading and strategies testing than Metatrader 4. If you manage multiple accounts you can analyze forex market on Metatrader5 demo, open trades and copy trades from Metatrader 5 account to Metatrader 4 accounts synchronous. It is possible with new CopyToolPro MT5–>MT4 account copier module.
Example
Example:
Step 1)
MT5: 0.2 lot BUY EURUSD opened, summary position 0.2 lot BUY EURUSD
MT4: copy open 0.2 lot BUY EURUSD
Step 2)
MT5: 0.3 lot BUY EURUSD added, summary position 0.5 lot BUY EURUSD
MT4: copy open 0.3 lot BUY EURUSD, now we have 2 orders on MT4 (0.2 and 0.3)
Step 3)
MT5: 0.1 lot BUY EURUSD closed, summary position 0.4 lot BUY EURUSD
MT4: copy close 0.1 lot BUY EURUSD, we still have 2 orders on MT4 (0.1 and 0.3)
etc
BJF Trading Group inc.
http://iticsoftware.com
Improve Your Trading with Forex Software
There are multiple ways to improve your trading in the foreign exchange market, including certain software programs that will be able to decrease the amount of risk and increase earnings. If you just donât have the time to stay at home or the office all the time monitoring trades, you will want a good program to help you out. Because there are so many different ones, you will want to consider what all of your options are. Before selecting a certain forex ârobotâ or program, you will also need to get solid evidence that the program you have selected will actually work for you.
Back tests and consumer reviews are the two best ways to ensure that you are getting quality forex software. When you look at the data that the person who created the software has come up with, you will be able to know it works and go from there. Whether you are a novice or highly experienced in this sort of business, virtually any trader will be able to benefit from one of these programs. There are some programs which are more difficult to use than others, but with enough practice and experience, you will be able to utilize it to do many things for you, including lowering your overall risk when trading.
One of the best reasons to get a software program like this is to take emotion out of the equation. These applications are not capable of feeling such as fear, happiness, or anxiousness like people are. There are quite a few traders, including experienced ones, who make the mistake of letting their emotions affect their trading decisions. You will be able to count on your software to help you make daily choices about certain transactions, without worrying about being influenced by unreliable emotions. This type of software operates solely on data and market trends it has gathered and analyzed, which allows it to be highly effective in helping traders become more profitable.
Part time traders will certainly want to consider investing in forex software. If you have another occupation or other business responsibilities, you will definitely want to implement the use of a forex robot to help you out. It will be able to make logical and accurate decisions, but you will still be involved in making the last call. Even those who use these programs like to feel that they still have some control, which is why there are partially automated robots that will still give you a say in which decisions get approved, and which do not.
You can also purchase a fully automated software program which will do virtually everything for you, including making important trading decisions that you just donât have time for. Anyone who has a busy schedule but still wants to make money from the foreign exchange market will certainly want to consider getting software to help with everyday analysis and decision-making, which can be a rather tedious and time consuming task.
MetaTrader Account Copier “PowerTradeCopier” Advantages
MetaTrader Account Copier “PowerTradeCopier” allows copy orders from master terminal (metatrader 4) to several slave (metatrader 4) terminals. You can copy orders from ecn brokerage company (market execution) to instant execution brokerage companies and and vice versa. MetaTrader Account Copier “PowerTradeCopier” compatible with 4 digits quotes brokers as well as with 5 digits quotes brokers.
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Some traders, who can not trade successfully by themselves, prefer to copy orders of third party expert advisors. If you have an investor password from some account in Meta Trader 4 and you want to copy trades from this account to yours. You can easy adjust lot size or set lot size as a percent by account balance. A lot of professional traders sell forex trading signals. But it is very hard task to copy those signals manually. MetaTrader Account Copier “PowerTradeCopier” will help you to deliver the forex signals via the Internet to your customers and execute forex signals in fully automated mode.
MetaTrader Account Copier “PowerTradeCopier” Advantages:
-the multiterminal program copies the order immediately without delay (delay =0);
-you do not need to install and run slave metatrader terminals;
-advanced copying settings: money management, overwrite or delete SL/TP/Comments, filters, logs;
- clients (sub accounts) management settings: add new user/delete/block/unlock;
- traders password not requires. You can use investor password for master terminal;
- your clients can put password and adjust copying parameters on their side.
Learn more about MetaTrader Account Copier “PowerTradeCopier”
Other metatrader account copiers:
Metatrader Account Copier “CopyToolPro”
BJF Trading Group inc.
http://iticsoftware.com
Concepts Included In Short Term Trading Strategies
If you wish to choose short term trading strategies, then you need to follow two concepts. One is hand swing trading and the other one is day trading or forex scalping. You need to find out which one of these two are best.
Forex scalping or day scalping:
Forex scalping or day scalping can be said as a method where traders try to show interest for taking advantage of intra-day moves of certain hours and usage of support as well as resistance level in the period in order to determine when it has to be executed with their trading signals. The only problem is that it will not work at it best because there are several millions of traders who use to do trading with short term trading strategies as well as methods. All traders will do in different aspects with several innovative ideas and off-course with short term trading strategy concept.
Forex swing trading:
The other type of short term trading strategy is the forex swing trading that try to catch some trends during the intermediate moves and all these moves will range up to 2 days or until 2 weeks. This method of short term trading strategy is an excellent opportunity to provide some trend ranges from the following reasons and they are:
1)Â Â Â They are very easy to trade out with the concept of resistance, support momentum as well as breakouts.
2)Â Â Â There are several opportunities to the traders and it is been the greatest advantage to the traders.
3)Â Â Â You can see the results as early as possible. You can come to know whether you have had profit or loss at the early span of time and there is no need to wait for longer days to see for the results.
If you want to concentrate on short term trading strategy, then you can select forex swing option rather than the day or forex scalping.
How To Use MetaTrader PowerTradeCopier?
Summary: It looks difficult to deal with the MetaTrader PowerTradeCopier but in fact it is very easy. If you face difficulties interfacing with that tool, this should help.
Basically, the adjustment of the modules in this tool is all the same. However, there is one unique difference, which is the fact the master accounts do not require password while slave accounts do. Slaves must enter a password and configure the transmission parameters for the master. We shall look into the general settings before proceeding.
Start the general setting by running the PowerTradeCopier.exe program. After running the program, you should see a Multiterminal window appears. What you should do next is to click on âSettingsâ command button located at the bottom left of the Multiterminal window. Then, you may start adding servers for Master and Slave. There are actually two ways or method to add servers for both the Master and Slave terminals. In this article, I will recommend you the short and easy method.
You can add your servers by selecting âMetatraderâ tab at the âSettingsâ window. Once you have selected the âMetatraderâ tab, browse for your terminal.exe file. The next step after searching for your .exe file is to click âOpenâ at the right bottom corner. You should see that the path is listed in the huge text box. Right after that, you can add the second terminal by clicking add at the âSettingsâ window and repeat the earlier process. Your master and slave servers are now added and they are ready for use. However, if the IP for the server is changed, the PowerTradeCopier changes its server accordingly.
Besides adding servers, the PowerTradeCopier can be used to manage orders as well. To manage your orders, click on the âOrderâ tab on the Multiterminal window. Red color order means the order was opened to the master terminal before the PowerTradeCopier runs while green color order is opened after the PowerTraderCopier runs. Click on âCopy Selected Orderâ if you wish to copy red orders.
