There are two stages of LTC installation. Duplicate your first trade, step 1: Install multiple MT4 platforms. Choosing Destination Location If you intend to set up multiple Master accounts, you can select multiple destinations. But it is mandatory to use the Main password when you are logging into all subsidiary (Client) accounts. Personally I like to add numbers at the end of each folder. Multiple MT4 client terminals installed on the same computer/VPS. Inherently, MT4 doesnt allow simultaneous copying of trades to multiple forex accounts. Conclusion By implementing this technique you can trade multiple MetaTrader 4 accounts at once from just one MT4 account.
Installing several MT4 terminals on the same computer. For each of the MT4 platforms, navigate to the Tools option located on the top menu, and click Options. Tell us how did you do it? MT4 Settings Button, on the page, you can choose the installation folder and give the platform an appropriate name. This is the first window where I start MT4 configuration after fresh installation. This is quite easy and the process is the same as the regular MT4 installation. But if you are forced to open an account with an unregulated broker to use some trading strategy or signals then you can safely duplicate trades to other MT4 accounts you can have with reputable and trusted brokers in your home country. As an alternative for going through the difficulty of checking the forex markets day to day fluctuations, all that is needed is to simply examine the performance of his/her copy trading account at the end of every trading. Therefore, a good way to do this is to use a forex trade copier software called the, local Trade Copier (LTC which has been used by hundreds of traders and account managers since 2010.
The software we need to use in order to transfer the same trades to other MT4 accounts is a special type of software which can duplicate trades between multiple MT4 accounts. When you click OK the EA will start working and thats how it should look like on the chart. Now repeat the same on each Client MT4 account you have. When the first number of server send counter is growing it means Server EA is running Okay, you have the Server EA running. Click here to try the Local Trade Copier yourself Have you ever traded more than one MT4 account simultaneously? Working forex copy trades with LTC is simple and enjoyable. Among Forex traders this type of computer program is usually called trade copier or account copier. Save traders to your Favorites by marking the ones you like with a star. It sounds strange, but you can get profit! Trade Copier Installation Finished Lastly, click Finish to complete the installation process. Set up copying and start.
Also, we do not recommend reversing short-time positions (scalping because the profit will be decreased by the value of spread. Even though it is not difficult to know if a copy forex trading account is producing profits, it is most times more difficult to determine the set of risks that were taken to make the desired profits. Refreshing the Expert Advisor list in MT4 Navigator window Repeat the Refresh command on all MT4 instances you will be using. LTC Server auto-installer is ready to begin installation In the next step auto-installer shows the list of all MT4 platforms found on the computer. There are much more settings in the Client EA than in the Server EA, but again, you do not need them all, for now. Repeat the same for each MetaTrader 4 platform you will be using. Click and drag the EA from the navigator to your preferred active chart window. Step 5: Link LTC Client EA to MT4 Client accounts Linking the LTC Client EA to MT4 client platforms is relatively the same with linking the Server EA to a Master account, albeit with few differences. Just like the Server EA, if the Server read counter is increasing continuously, it indicates the Client EA is functioning optimally. This is where you can change the MT4 installation destination folder. You can choose multiple destinations, but in this tutorial we will be using one Master account so lets select just one MT4 from the list. Install special software for trading multiple MT4 accounts. Login to all MT4 accounts, next you need to open all MT4 accounts you want to trade at the same time and log in to each of them.
Become a copy trader. Register in the platform Complete quick registration and deposit funds to your account via any convenient method. It does not matter what instrument it is running on, the trade copier will still be copying trades from all instruments. Now you need to repeat the MT4 installation process twice, or five times, ten times, or whatever number of MT4 instances you need. Copier does that dirty job for you. Thus, if you want to cling to manually replicating trades to several accounts, you can make costly mistakes that can greatly reduce your profits. LTC Server EA in MT4 Navigator window And this is my LTC Client EA on one of the Client MT4 accounts I will be using.
EAs personalized indicators, and signal providers. LTC Server EA auto-installer is waiting while user selects installation destination After you click next the Server EA files will be installed and then you can choose whether you want this particular MT4 platform to be loaded or not. No need for pamm accounts, pAMM accounts are the invention of some brokers to gain as much as possible from their clients. This means you log in to different account on each MT4 platform. Double-click on the EA in Navigator forex copy trades window. Attach Expert Advisor to a chart in MT4 When LTC Server EA is attached to a chart, immediately you will see the EA Properties window that looks like this.
Opening New eurusd chart window from the top MT4 menu Alternative way to open the eurusd chart is to find it in the Market Watch window, right-clicking on it and choosing Chart Window. Wed not recommend reversing trades of professional trader. Choosing Destination Folders After youve selected the platforms, click Next to install the LTC Client EA on them. Join copy trading system, trader: provides trades for copying, are you an experienced and successful trader? The more copying traders you attract and the more successful your trading strategy is, the greater your earnings will. Managing Several Accounts, you may need to take care of several accounts at the same time. Therefore, youll need to login to all the MT4 accounts. Every single position which you open/close/modify on your Main platform is duplicated on all Receiver platforms so they are synchronized with the main one. Choose a trader from the ranking Go to the Copy section and select a trader using the Sort option or other platform functions to select traders by user parameters. Spend quality time in the platform Enjoy your income from day one thanks to selecting an experienced trader, chat and subscribe to the trading channels to increase your knowledge. You can launch the trade copier EA in three ways: Right click on the EA and choose Attach to a chart option. At this point, the forex trader selects an algorithmic forex trading strategy from the list of available strategy based on his/her investment goal, currency pair being traded, risk tolerance and trading capital. So, youd ask what you can get from that loser.
After youve set up a single Client EA on an MT4 platform, you can repeat the same process on the other Client accounts you have. It forex copy trades does not matter who opened the trade, it will be copied to all client accounts connected. Usually account managers need to go through a lot of paper work and sign many documents before they can have a so called pamm account with the Forex broker, which allows to trade many MT4 accounts at the same time. Promote your profile and attract copying traders. Install LTC Server EA on the Master MT4 account Install LTC Client EA on all Client MT4 accounts Installation process is relatively the same for Server EA and Client EA, the only difference is which MT4 platform you will select during the installation. Start copying Go to the profile of the selected trader by clicking on their avatar and see their copying recommendations in the Info About Trader section or send them a message if you need. FX copier is the program which will do that for you! How does Forex copy trading work? In other words, which account you choose to be the Master. Tools - Options window from the top menu. You will have to do this for each MT4 account you will be trading.
So we have eurusd chart open now on all MT4 platforms. We will be using Local Trade Copier from. The initial step is to install multiple MT4 trading platforms on your computer or VPS server. This is the account that you will be trading and all positions that you open on this account will be transferred to other MetaTrader accounts automatically. Lets run the Client. With the LTC trade copier, you can successfully create an investment portfolio of several MT4 accounts and become an independent account manager without signing lengthy contract agreements. Double click on the EA forex copy trades in the MT4 Navigator window.
Its important to note that you should launch the LTC Server EA on a new empty chart, on any timeframe. A simple step-by-step procedure of setting up LTC. Social Trading brings together global traders to form a successful community where they can use one another's experience to achieve their goals. Install multiple MT4 platforms on your computer. Lets begin the installation. It is possible to have multiple Master accounts on the same computer too, but lets not rush things and first start with one Master and several Client accounts.
You can have as many Master accounts as your computing power can allow. Link LTC Client EA to MT4 Client accounts. The master account is a regular MT4 account but we call it master because you choose to send trades from this account to another account. Its not a problem if you add any additional indicators to the same chart where your LTC EA is running but its always best to keep your charts clean and dedicate each chart for one MT4 app only. Getting Profit forex copy trades from Losing Accounts, lets imagine that you know an account which loses money. Youll choose the platforms that will act as Client accounts and receive trading instructions from the Master account. Copy the trades of successful traders and earn from day one, or provide your profitable trading for copying and get additional income in the form of a commission.
You can confirm if the EA is working by checking for increases in the Server send counter. Right forex copy trades click on the EA and select Attach to a chart. Starting Local Trade Copier software To start the Server EA or Client EA you will have to open a chart first. What is Myfxbook AutoTrade? LTC Client EA in MT4 Navigator window Now that the LTC installation is finished we can start using. Now its a good time to decide which MT4 account will be your main account.
Every forex trader should make sure the strategy utilized in copy forex trading has a minimum percentage of risk involved. Such account mirroring software will repeat the same trading operations on all Client MT4 accounts. The first server read counter should be growing continuously which indicates that EA is working. Note that all Client MT4 accounts must have the Client EA attached and running in order to mirror the same positions you open on the Master account. Click and drag the EA from Navigator window to the chart you want to attach. Opening New chart window from the top MT4 menu You will see the list of symbols appear. Complete quick registration and deposit funds to your account via any convenient method. Its kind of linking several Client MT4 accounts to your Master MT4 account so that when you open positions on the Master, the same positions will be replicated on all Client accounts. Success IS NOT guaranteed, no forex trading strategy is a 100 percent or a sure shot winner. This aspect of copy forex trading is very helpful to forex trade beginners who find the forex market overwhelming. MT4 Tools Options Next, forex copy trades move to the Expert Advisors section and activate Allow Automated trading as well as Allow DLL imports. It is essential you give each platform a unique and easily identifiable name.