MT4, MT5, cTrader, FXCM Trade Station, LMax or various FIX APIs, whatever is the technology we can copy trades from/to these platforms. You can trade manually from your mobile phone or you can attach your trading robots (EA) to your master account(s) and the trades will be copied to all your slave account 4/29/ · In this picture you can see a master account # and a master account # Also we have a slave account # If you want to have different settings for the trades coming from each master account you should use two Client EA instances on the same slave account. You will have to open two charts to be able to attach both blogger.com: Rimantas Petrauskas To qualify for a fully funded $50, account, a trader must trade an evaluation account of a $25, PROFIT WITHDRAWAL A trader is entitled to a share of the profits made in the assigned trading account, whether it is on an evaluation account or in a portfolio manager account
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Maybe you even pretend that you know these terms, forex slave trade account, but just changed the topic of the conversation? In this business of forex, there are literally hundreds of different terms and it is important to know a lot of them to be successful. I have been working as a programmer for about 16 years now and when I created Local Trade Copier and Remote Trade Copier I soon realized that people do not know much about this copy trading thing.
So I wanted to take a few minutes here to help you understand all of the key terms that are relevant to trade copying in this business. We are going to talk all about the different terms, but first, let me tell you what copy trading is and what trade copier software does.
Trades are simultaneously copied from one forex trading account to two or more accounts using secure file transfer protocols or HTTP protocol.
This software, which comes in the form of an Expert Advisor, is installed in both trading platforms of the master and slave accounts. It will work regardless of how many master and slave accounts are connected. It has numerous features that can be configured and can be used for various purposes. An account manager trading multiple different accounts at the same time will certainly benefit from this software.
He may run the software on his computer or on a VPS server and manage only one account, called the master account. All the parameters of the trades he opens on that account will be automatically copied to all other accounts, which are called slave accounts. And yes, the manager can open trades on his mobile device like iPhone, iPad, or Android and those too will be copied to the slave accounts if configured properly.
Trade copier software comes in many forms, but there are only two main types that serve different purposes. The Local Trade Copier LTC software copies trade from one trading platform to another on the same computerover a local network, or on a VPS server. Master and slave accounts are running on the same computer, on the same VPS server, or on the same local network.
It is designed to run on the local computer or VPS forex slave trade account personal use and for trade managers that can handle multiple client accounts by themselves. This type of software is very popular and there are many different versions on the market. Below is an example of what the LTC looks like when it is applied to two charts-a master LTC Server EA and a slave LTC Client EA. In contrast to the Local Trade Copier, the Remote Trade Copier RTC is used to manage, share, or copy trades of a master account to multiple slave accounts that are located on different computers or VPS servers.
Account managers with customers in different locations around the world can send their trading signals to remotely located accounts through the internet, forex slave trade account. The RTC provides the same set of tools as the LTC and it is an all-in-one solution for signal providers and account managers.
An MT4 Trade Copier, as the name implies, is a trade copier software designed for MetaTrader trading platforms only. For example, Local Trade Copier and Remote Trade Copier, both are designed for the MetaTrader 4 platform only. But there are other trade copier apps that are designed for MT5 or even other trading platforms. Compatibility issues may arise when installing this software to other trading platforms other than MetaTrader platforms as it simply will not work.
This software is installed on two or more MT4 accounts to send and receive trading signals, forex slave trade account. The sending master account and receiving slave account MT4 accounts constantly communicate data and synchronize all settings in real-time.
The master and slave MT4 accounts may be located remotely or running on the same computer. The MT4 Trade Copier efficiently copies exact trade parameters such as market order price, take profit, forex slave trade account, and stop-loss levels. Forex slave trade account trade adjustments or modifications forex slave trade account the master account are automatically executed at the slave accounts in real-time.
The software automatically applies trade settings to trade signals it receives such as money management, filters unwanted currency pairs, lot size per trade, and other settings within forex slave trade account second. MT4 Trade Copier will execute both market orders and pending trade orders on any MT4 platform. It is somewhat like a modern-day fax machine for forex trades, forex slave trade account. The Master Account is where you manage the trades and that sends trading signals to clients.
It is also referred to as the server account or the signal provider account. The Server EA of the Trade Copier software must be installed on the master account in order to send the trading signals. You execute your trades on the master account as you normally do when trading, and the Server EA takes care of sending the trade parameters you have executed to all client accounts. The server EA is capable of delivering trades to thousands of clients instantaneously and enables every client account to receive immediate trade execution in a fraction of a second.
The master account sends the exact trade parameters such as order market price, take profit, and stop-loss levels to client accounts. The Slave Accounts are the client accounts that receive and execute trading signals that are sent by the master account. In most cases, the Client EA of a trade copier software is installed to the slave account in order to receive the trade signals that the master account has executed. You can set up the slave account not to execute any trading signals of a particular currency, forex slave trade account, and not receive any trades during a specified time period.
The slave account will also automatically adjust forex slave trade account lot size of a signal it receives in order to comply with its risk threshold. The slave account can be set to a certain percentage risk for each trade based on the account size and the size of the stop loss. All the settings and trades will be correctly copied from the master account to the slave account no matter what account types are being used.
In the context of trade copying, a trade signal is an information or instruction sent by the master account to the slave account. The information contains the details of a trade made by the master account, such as the direction of the trade buy or sellmarket entry price, stop loss placement, forex slave trade account, and profit target.
The slave account that receives this information sent by the master account may execute forex slave trade account same trade with the same market entry price, stop loss placement, and target profit.
Trading signals are sent and executed by all accounts at lightning speed, forex slave trade account. Thus, all the accounts will be at the same entry price, or within a fraction of a pip generally. However, keep in mind that a delay may occur when copying trades.
You can forex slave trade account this video to learn more about the copy trading speed. A Virtual Private Server VPS is an externally hosted server used to manage trading connectivity, which ensures the trading platform is running 24 hours a day. Although all the virtual private servers of a hosting company may be located on one or more machines, a VPS operates independently of each other.
The VPS forex slave trade account company gives you complete control over a slice of a server and provides you with admin access to do with it as you please. You can install an operating system of your choice, install any applications on it, and you have the control to reboot your system if needed.
You will have guaranteed CPU usage, a certain amount of disk space and memory, and also a certain transfer allowance per month. Your VPS has its own dedicated power supply and offers flexibility, stability, and convenience. Since the VPS is always on-line and not affected by power outages, many forex traders choose to run their Expert Advisors non-stop, 24 hours a day, 7 days a week on a VPS server. Most forex trade signal providers run the trade copier software together with the master and slave accounts on a VPS server.
A VPS server also allows traders to gain access to their trading accounts from the server from any forex slave trade account anytime and anywhere. Actually, forex slave trade account, that is exactly what I do at my trading signal business at www. I host MT4 platforms of my customers on my own VPS servers and this way they do not need to worry about any technical stuff. MetaTrader 4 hosting is the best way to provide stable availability of the MT4 platform to traders.
Large brokerage houses connect to MT4 hosting companies to grant fast, stable, and secure servers to their clients, forex slave trade account. Through this way, brokerages are able to monitor and manage brokerage activities without having to bother about maintaining expensive critical servers.
There are hundreds of VPS providers that you can use to host your MT4 platform. Personally, I use VpsForexTrader, forex slave trade account. combut here is the list of the on-line companies that offer Forex hosting service via VPS. If you have trouble setting up your MT4 on a VPS server you may want to check this chapter 6 in this copy trading guide. Maximum Price Deviation MPD is the number of pips that you allow the trade copier app to still copy your trade ordereven if the actual price is different between master and slave accounts.
It is forex slave trade account way to mitigate the risk associated with market price slippage. During high volatility forex slave trade account, executions of orders are subjected to price requotes since the order price might not be available by the time the server accepts the order. This can happen a lot during major news releases, especially when you have a slow internet connection and it takes a few seconds to send your order.
Since the price moves so fast, enabling the MPD feature of your trade copier software enables your order to be executed with a small difference from the current price. Keep in mind that if the price difference is too big the trade may not be copied at all, forex slave trade account. The MPD allows you to specify the amount of potential slippage for the trade copier app you are willing to accept on a market order by defining a range. If the current price isa price deviation of 1 point will still allow copying your order even if the price moves anywhere from 99 to A price deviation of 2 points will still allow copying your order even if the current price will move anywhere from 98 to A price deviation of zero indicates that no slippage is permitted; your order will only be copied at your selected quoted price, forex slave trade account, not any other price.
However, when a request to open order will be sent to the broker it may still be placed at a different price because of the requotes and this depends on what slippage is used. Do not confuse MPD with the Slippage. MPD is like a slippage for the Client EA. It tells if Client EA should copy the trade or not. If the current market price on the particular slave account is within the MPD range then Client EA will try to copy it, and this is where the Slippage now will take place which will be sent to the broker server together with other parameters for the trade that needs to be opened.
Slippage is the pip difference between the order price and the execution price of a particular trade transaction. Due to slow internet connection speed and market volatility, the order price could change before it reaches the Liquidity Provider for execution. As a result, you have just lost 5 USD due to slippage.
Trading accounts that are dependent on signal providers are very much subjected to slippage risk. By using a VPS server, forex slave trade account, this risk can be mitigated since a VPS can execute all the trade signals more quickly than a computer at home. A master account from a VPS server can also transmit trading signals much quicker as well.
Currency ticker symbols that are used in the forex market represent the currency pair or instrument that is forex slave trade account traded. The base currency is in the first position of a pair while the quote or counter currency is the second position in the pair. The quote currency is the quantity of that currency needed to purchase a single unit of the base currency. Each currency symbol is composed of three letters and forex slave trade account represents the currency of a particular country.
For instance, USD is the symbol for the United States Dollar and SGD for Singaporean Dollar. A currency suffix is used by some brokers to identify the trading feeds they have on certain accounts. Forex forex slave trade account deliver their MT4 platforms with unique currency pair notations, which may vary from the standard notation.
Tanvir Trade Copier User Guide: Part-04 (Slave Settings: Symbol Selection)
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To qualify for a fully funded $50, account, a trader must trade an evaluation account of a $25, PROFIT WITHDRAWAL A trader is entitled to a share of the profits made in the assigned trading account, whether it is on an evaluation account or in a portfolio manager account The Manager uses the Master account to open and close all trades. The accounts that follow him are called slave accounts. What are the features of the Fair Forex MAM? Use one master account to open and close orders for multiple client accounts at the same time MT4, MT5, cTrader, FXCM Trade Station, LMax or various FIX APIs, whatever is the technology we can copy trades from/to these platforms. You can trade manually from your mobile phone or you can attach your trading robots (EA) to your master account(s) and the trades will be copied to all your slave account
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