Frequently Asked Questions

What are the risk types I can choose?

Reverse trades

If you want to take the opposite direction for each trade copied, you can set Reverse Trades to yes.

Risk types

  • Risk multiplier by balance
  • Risk multiplier by equity
  • Lot multiplier
  • Fixed lot

Copy From is the Master account and Send To is the Slave account.

Risk multiplier by balance

When using risk multiplier by balance the trade copier will consider the balance of the Copy From and Send To accounts to calculate a proportional lot size for each copied trade.

  • For example, with a Multiplier of 1; if the Copy From account has a balance of 10,000 and the Send To account is 5,000. As the balance of the Send To account is half the size of the Copy From account, all trades will be half the lot size of the Copy From account.

The math's used to calculate the Send To lot size:

  • Send To balance divided by the Copy From balance, multiplied by the Copy From lot size multiplied by the Multiplier value.

The multiplier value can be used to adjust the lot size further. A Multiplier of 2 will double the Send To lot size. Conversely a Multiplier of 0.5 will half the Send To lot size.

Risk multiplier by equity

Risk multiplier by equity works in the same way as risk multiplier by balance but uses the equity values of the Copy From and Send To accounts, instead of the balance.

The math's used to calculate the Send To lot size:

  • Send To equity divided by the Copy From equity, multiplied by the Copy From lot size multiplied by the Multiplier

Lot multiplier

When using lot multiplier the lot size is calculated by taking the Copy From lot size and multiplying by the Multiplier value.

  • For example, with the Multiplier set at 2, if the Copy From takes a 1 lot trade the Send To will take a 2 lot trade.

Fixed lot

When using fixed lot all trades taken by the Copy From will be copied to the Send To at the defined Fixed Lot value. It does not matter how big or small the Copy From lot size is, it will always be the defined Fixed Lot value.

Slippage

The slippage setting is used to protect against large variations in spread/price between the Copy From account and Send To account. The default setting of 5 means the Send To account will only copy a trade if the Send To account price is within 5 pips on the positive side of the Copy From accounts open price.

  • For example, the Copy From account buys EURUSD at 1.14510 and the Send To account tries to buy. If the Send To account price is 1.14561 or greater the trade copier will not copy the trade at that time, as it is beyond the Slippage setting. The trade copier will monitor the Send To account price once every second. If the price comes back to 1.14560 or less, it will copy the trade.

If price never gets back within the Slippage setting the trade will not be copied in the lifetime of the Copy From account trade.

The Slippage value used is up to you to decide based on your own preference. The lower the value set the higher the chance that some trades will never be copied as the conditions are never met. You can even set a negative Slippage value, which would mean only trades in a drawdown will be copied.

Max lot

The Max Lot setting can be used to protect in scenarios where the Copy From account takes an abnormally large trade. As the current risk settings will always be applied, regardless of the lot size being attempted, the Send To account attempt could attempt any lot size that the broker will accept. To combat this, you should set a reasonable Max Lot value as the largest lot size you are prepared to open on the Send To account.

  • For example, the Copy From account typically trades 0.1 lot size but opens a 1 lot. Unless the trade copier is using Fixed Lot, the Send To account could be exposed to a dangerous trade 10 times the normal size. If you had set a Max Lot value of 5 and the lot size being attempted was 5.1 lots or greater, the trade copier will force the lot size down to 5 as the max allowed lot size and open a trade at 5 lots.

Force min lot

The Force Min Lot setting can be relevant if you are using Risk Multiplier and the Send To account has a relatively small balance compared to the Copy From account. Some brokers have a minimum lot size of 0.10 lots on symbols, compared to the more common 0.01 lots.

By choosing to Force Min Lot you could be exposing the Send To account to larger than expected trades. Conversely, if you choose to not Force Min Lot you can potentially miss trades as the attempted lot size is below the broker defined minimum lot size.

  • For example, if you set Force Min Lot to yes and the trade copier is attempting to trade a 0.01 lot trade on the Send To account but the minimum broker lot size is 0.10 lots. The trade copier will force the lot size up to 0.10 lots and you would be exposed to a trade 10 times larger than expected.

Please consider what scenarios could happen before choosing to Force Min Lot.

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