💼Basic features
Welcome to the essential toolkit of MetaCopier, where simplicity meets efficiency. Our Basic Features offer everything you need for straightforward trade copying across Metatrader 4, Metatrader 5, DXtrade and cTrader. Perfect for getting started with ease and reliability, these features are your first step towards streamlined trading success. Explore now and transform your trading experience with the essentials.
Copiers
The copier provides precise control over trade replication between accounts, offering customizable settings to ensure each trade is copied in alignment with specific trading strategies and risk preferences. Additionally, multiple copiers can be combined for enhanced flexibility and strategy implementation.
Settings
Copy from account or strategy: Specify the source by entering the account or strategy name. This setting determines where the trades are copied from, allowing users to select a specific trading account or strategy as the replication source.
Multiplier: A multiplier is a factor applied to a certain value, such as the size of a trade (lot) or investment (balance or equity), to increase its impact. In trading, it is often used to amplify the exposure or returns of a position.
Slippage: Slippage occurs when a trade is executed at a different price than expected. It often happens in fast-moving markets, and the actual execution price may be worse than the intended price, leading to potential differences in profit or loss.
Slippage is in points (10 points = 1 pip). A value of 0 means deactivated (Trade is always executed at actual price).
Scale by: Scaling refers to adjusting the size of a trading position based on the total account balance or equity. It is also possible to use a fixed lot size or disable the scaling to use the same lot size as the master account.
Fix master balance/equity: Override the master balance and equity to the specified value. If set to 1000, the lot size calculation for the slave account will always use 1000 as balance/equity reference ignoring the real balance/equity of the account. A value of 0 means deactivated.
Active: Indicates whether the copier is active and operational. This setting allows users to easily manage the status of their trade copier, turning it on or off as needed.
Copy stop loss / take profit values: Ensure critical risk management settings, like Stop Loss (SL) and Take Profit (TP), are copied alongside each trade. This maintains strategy integrity and protects against undue losses.
Skip pending orders: This setting allows traders to choose whether or not to replicate pending orders (orders that have not yet been executed). Skipping pending orders is highly recommended. By default, this option is blocked. If you are an expert trader, please contact us to unlock this option.
Force min trade: If the calculated position size is less than 0.01 lots, then the position will be placed at the minimum lot size of 0.01.
Adjust lot size based on martingale multiplier: If there is a significant difference in balance/equity between the master and slave accounts, the lot size on the slave account may be rounded down. For example, if trades of 0.02 and 0.04 lots are placed on the master account (balance 4000 USD), a standard copier would open 0.01 and 0.01 lots on the slave account (balance 1000 USD - which is incorrect). However, if this option is activated, it will open 0.1 and 0.2 lots.
Risk limits
The Risk Limiter halts new trade copying if the drawdown exceeds predefined thresholds, safeguarding capital by minimizing losses. Configurable for daily, weekly, or monthly periods, it provides tailored risk management for your strategy and allows the combination of multiple risk limits for enhanced control.
Settings
Risk type & period: Choose the type of drawdown limit and the specific period it applies to. This setting allows you to select how you wish to monitor drawdown — actual, daily, weekly, or monthly — offering flexibility in how you apply risk management strategies over different time frames.
Risk limit: Set your drawdown limit with precision. By inputting a value (e.g., 0.1), you're defining the maximum drawdown percentage you're willing to tolerate (in this case, 10%)
Reset time: Determine the exact local time at which the drawdown calculation period should reset. This feature enables you to align the limiter's operation with your trading schedule or the specific trading session you're most active in, ensuring that the drawdown calculation starts fresh at a time that makes sense for you
Fullfillment in seconds: Specify the delay in seconds before the limiter activates once the defined risk limit is reached. Setting this to '0' triggers the limiter immediately upon reaching the drawdown threshold, while a higher value introduces a delay, allowing for brief fluctuations before the limiter takes effect
Close all open positions: Enable this option to automatically close all open positions immediately upon reaching the drawdown limit. This feature serves as an essential stop-loss mechanism, providing immediate action to protect your capital during adverse market movements. If this option is disabled, existing positions will remain open, but new trades will not be copied to the slave accounts, preventing further exposure while allowing current positions the potential to recover.
If you intend to utilize two risk limits, one for the day and one for the current drawdown, we recommend utilizing distinct percentages to differentiate between them effectively.
Reset risk limit
With this button, you can reset your risk limits, allowing for a fresh start in managing your trading risk. Whether you need to recalibrate your strategy or adjust to changing market conditions, the Risk Limit Reset offers flexibility and control at your fingertips.
Symbol mapping
The system attempts to automatically detect symbol mappings across different platforms. If this process fails, you can contact us for assistance or define the mapping manually as described here.
The symbol mapping function allows users to establish a connection between symbols across different trading platforms. This feature is particularly useful when the symbols on the master and slave accounts differ but represent the same financial instrument.
By mapping symbols, the copier ensures accurate trade replication by recognizing equivalent symbols and executing trades accordingly. For example, if EUR/USD is represented as "EURUSD" on the master account and "EUR/USD" on the slave account, the symbol mapping function allows users to link these symbols, enabling seamless trade copying between accounts despite the symbol variations.
To show the current symbol mapping click on button on the copiers list.
A new window opens with a list of symbols and their mapping. You can filter to the desired symbol.
If a mapping is missing or wrong go to the Symbol mapping page and add a new mapping similar to the example provided.
Settings
From symbol: Specify the symbol name from the source trading platform.
To symbol: Define the corresponding symbol name on the target trading platform.
From Broker (Regex): Set a regular expression pattern to match symbols from the source broker. This allows for flexible matching of symbols based on patterns rather than exact matches.
To Broker (Regex): Establish a regular expression pattern to match symbols from the target broker, offering the same flexibility for symbol matching.
Priority: Assign priority levels to symbol mappings. In case of multiple mappings matching a symbol, the priority determines which mapping takes precedence (lower number means higher priority).
Telegram
Receive instant updates on your trades directly to your Telegram app for quick and convenient monitoring.
Set up steps
Open Telegram with the user that you want to receive the notifications
Send a
/startmessage to our Telegram bot with this link https://t.me/MetaCopierNotificatorBot or directly message@MetaCopierNotificatorBotIn MetaCopier, navigate to your project and access the Telegram menu item
Add a new telegram nofitication under your project (you can add later more)
Configure the settings as described in the next chapter
Settings
Telegram username: Enter your Telegram username to receive notifications. You can find your username in the settings (e.g.,
@User123)Log type: Choose the type of logs you want to receive notifications for, whether it's informational, warnings or just error-related. Details:
INFO: Receive errors, warnings, and informational logs, such as trade open/close events.
WARN: Receive errors and warnings
ERROR: Receive errors only
Accounts filter: Customize which accounts you want to receive notifications for
Logs
The logs section provides a comprehensive record of all activities and events occurring within the MetaCopier platform. It serves as a detailed audit trail, allowing users to monitor and review various actions, errors, and system events.
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