Forex Trade Copier – useful Tips

You may think that Forex Copier is designed to serve Money Managers and Signal Providers. It is not necessarily true and here I would like to give you a few useful tips on Forex Copier that will help you to change your impression or even rethink your trading strategy or your approach to Trading CFDs, Futures and equity markets.

The current trend of Forex trading is not a secret, Forex is going Social. Traders use social networks, trading groups and forums to learn about new strategies, to share their experience or ideas. On another hand the social sites are used by traders to present their strategy to the crowd. There are good strategies, and there are bad strategies (read-losing money). Pick the one that makes money and continue reading. The next sentence is not groundbreaking or eyes opening statement, it is a simple formula that made many people happy of what they are doing in their lives, “Just follow the Leader and be flexible”. Here is what I mean and what is more important what exactly you need to do. Find the strategy that you like (read- makes profit), obtain investor password and copy trades of the winning strategy into your account while the strategy make money. Once the strategy starts losing, pick another and repeat it as many time as possible. I told you, it is simple and here are more details just to help you to hit the ground running. But first I would like to answer a “million dollar” questions.
Can you lose money? Yes. If you jump all in with no testing or preparation.
Can I make money? Yes if you will use it wisely, prepare and test it first. Still sounds simple?

After you picked the strategy you like, you need an investor’s password to that account. There are many ways of how to get it; subscribe to the signal service with the small size account, request it for demo and many other ways. The goal is to get set up with a small size account and copy trades into your big account or perhaps into your clients’  accounts. Yes, you read it right, you can set up your own Forex signal business. The signals source can be at any platform: MT4, MT5, JForex, Currenex and your account or accounts of your clients can be at MT4, MT5, JForex or Currenex. You or your clients do not even need to change their “lovely broker”. Everyone stays where they are, but you making money, sound good… isn’t it? How  about if I’ll tell you that you can make this happen with only one piece of software – Forex Trade Copier. It is complex to set up, but it is really easy to use because it is fully automated. Take a look at the chart below. I hope it will give you even more understanding of the process. 

How else you can use Forex Copier

1.You can share the cost of a Forex robot. Install the robot on one terminal (MT4 or MT5) and copy trades to 2 or 3 accounts or as many as you want.
2.  Try to reverse bad strategy. There are plenty of bad strategies out there. Have you ever thought about reversing the signals and turning bad strategy into a good one. It is difficult but possible.

3. Use Copier to boost performance of your strategy
by changing the strategy parameters without changing the strategy: -
 

  • Overwrite Stop Loss and/or Take Profit
  • Move Stop Loss and/or Take Profit
  • Hide S/L or T/P from your broker
  • Overwrite comments
  • Copy trade from a little drawdown
  • Copy only selected symbols
  • Copy trades with specific magic # or comment only
  • Copy during specified time frame

4.  FOREX BROKERS. It can help you to auto clear your exposure in Active Dealing. You can go down to the account level and auto clear based on different criteria. With Copier you can save on costly MT Bridges or bring an automation to build-in Coverage account.

5.Arbitrage. You can use Enhanced Symbol mapping option to build triangle arbitrage or any other combination that you may have on mind.

Example:
a.  If you think that EURSUD leads Gold. You can simply map EURUSD to Gold so once you open position (Demo account can be used as well) on EURUSD the position will be copied to Gold.
b.  Map EURUSD on master so slaves will go EURUSD sell and GBPUSD buy and get double arbitrage.
c. Map EURUSD, GBPUSD and EURGBP and get a triangle arbitrage. Opening position on one symbol will automatically trigger other two positions. Make it between different brokers and get Interbroker triangle arbitrage. You can find some good pips there. 

Recommended Trade Copier: PowerTradeCopier

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