Sometimes it is necessary tocopyscalping strategies. Inthis context,we meanscalping strategy – strategies which opening and closingpositionsbymarket orderswithgoals in severalpips.
The problem is simplifiedif you copyyour own strategy, ie the masterterminalis installedon your computer orVPS and you knowthe trader password (main password). In this case you can use PowerTradeCopier with STP add-on. You can read here how to use PowerTradeCopier with STP add-on.
But very often trader wants to copy 3d party strategy and he does not knowthe main password. In this case you are unable to use STP add-on, but PowerTradeCopier has built-in filters, and it can help you.
First step. Assesshow differentthe opening priceandthe closing price ofthe orders ofthe masteraccount and slave account. This differencearisesbecause of the timeof execution of ordersby brokers.
Second step. You should adjust filter.
Open “Filters” tab and check StopLoss and enter 2 parameters:
Wait price: 1 min
This meansthat the tradecopierwill wait (within 1 minute)pricesdifferent (10 pips difference) from prices on master account on stop loss side (+10 pips for SELL orders; -10 pips for BUY orders). You needto choose theparameters: “StopLossSide” and “Wait price” in such a way,that 90% of orderswerecopied.
The operation of thisfilteris based on theideathat in mostcases, the pricewill not goinstantlyinthe expected directionand firstmovesinthe oppositedirectionallowingus to open order bythe best price.
More about PowerTradeCopier: http://multiterminal.net