As the name suggests, a trading copier allows the trader to copy orders placed by other successful traders and the trader’s own orders from one or several accounts to another account (or multiple accounts).
How do you copy your own orders? How do you move or redirect orders from several terminals to one?
And why do it in the first place?
Let’s use a simple example. Suppose you are using one trading system across several terminals simultaneously.
You have your own personal account; you’re also using a PAMM account and an account used for signals (e.g., mql5.com). You open orders on three terminals using one trading system; the lot size varies due to balance differences. You therefore end up wasting valuable time opening orders on all terminals and, as a result, your trading results are negatively affected.
A trading copier will let you work in one account and automatically duplicate orders, calculating the necessary lot size for other terminals such as МТ4, MT5, JForex and for FIX API accounts.
Many people know that trading in a demo account or in a small account allows the trader to lower stress levels. With a trading copier, you can trade in a demo account and copy orders to a real account, which will have the effect of taking some of the emotional pressure involved in trading off you.
Some commercial advisors have the ability to use an unlimited number of demo accounts. With the help of a copier, you will be able to copy all orders to a real account. Buying a single copy of a commercial advisor and running it in a demo account will make it possible for you to copy orders to multiple terminals and even distribute them to friends.
A trading copier facilitates the copying of orders from several terminals and group signal sources in one account.
Let’s assume that you’re using several advisors on different terminals and can direct all orders to a single account.
It is possible to create an entire web, copying signals from different sources and grouping them by using different setup criteria.
If you have engaged the services of a trader to manage a small account and you see that the trader is performing well, a trading copier will help you copy the trader’s orders to your other accounts.
Often brokerage firms host competitions and provide access to participating accounts. A trading copier will let you copy the accounts of successful traders.
If your trading has so far been unprofitable and your orders have resulted in losses, you can use a copier to open orders that are the reverse of those you normally place (“reverse trades”). In other words, if you open a buy order in a signal account, the copier will copy a sell order, and vice versa. You’ll then turn your loss-making orders into profitable ones.
Trade copier for traders: http://multiterminal.net
Multi-MT4 servers Trade copier for brokers: http://4fxbrokers.com/multi-mt4-servers-account-copier/