I would like to explain how to improve scalping strategy. For example, you have eurusd scalping strategy which profitable only on broker with a low spread (average1 pips), but your client has opened an account on broker with not tide spread (average two pips) and doesn’t want to change brokerage company. For this reason, you can use the filter (stop loss side) for this sub-account. You can set 2 pips stop los side filter and when forex robot opens order on master account, account copier will copy trade only if price on sub-account will be “better” on two pips. When I say better, I mean higher on two pips for sell order and lower on two pips for a buy order. For example, expert advisor sells eurusd by price: 1.3454, account copier filter stoploss side = 2pips, mt4 copier will sell order on sub-account only when price becomes 1.3454+2 pips =1.3456. If your master account will buy eurusd by price: 1.3454, account copier filter stoploss side = 2pips, mt4 copier will buy order on sub-account only when price becomes 1.3454 -2 pips =1.3452. This sub-account can miss some trades, but in most cases it is more important to copy trades with guaranteed profit. You can find this filter on PowerTradeCopier “Filters” tab.
A lot of MT4 brokers have limitation for distance between price and order level. If you try to place pending order or order with SL and TP and disctance between pending order and price will be smaller then allowed level, broker will reject your order. Same situation will happen if you use trade copier for copy orders with short SL or TP, and one or several slave accounts have this limitation.
“SL or TP less than the resolved level” error.
How to avoid this error if you use our trade copier – PowerTradeCopier.
There are two settings “Correct SL” and “Correct_TP” in “Stops” tab which allow to set minimal (maximal) possible SL (TP) on lave in case when source SL (TP) on master side is out of bounds that are acceptable for slave side.
In this case trade copier will move pending order on allowed level. This feature will help you to avoid brokers limitations and prevent a lot of errors.
Using trade copier, you can copy trades from system, if you know account # and investor password. In a lot of cases when you open long position, price moves several pips in opposite direction before turns in needed direction and conversely. if you’ve noticed that this happens, you can use it for gain extra pips.
PowerTradeCopoer has build-in filter CheckMinMaxPriceDiff StopLoss side.
You should set CheckMinMaxPriceDiff StopLoss side = several pips (2-5) and try.
For example you have set CheckMinMaxPriceDiff StopLoss side = 4
Master opened short order with price 1.3426
Slave will onen order only if price reach level 1.3430 and you gain additional 4 pips. If price not reach level 1.3430 , order will be not copied. You can start with CheckMinMaxPriceDiff StopLoss side = 1 and then try to increase this parameter. This filter can be used by brokarege companies if they hedge their risks with trade copiers.We recommend to lern more bout filters and it will help you to make extra money if you use powertradecopier.
PowerTradeCopier STP Mode
MT4 copier “PowerTradeCopier” with STP module allows you to copy orders without any delay. STP module catches orders before they will be sended to master- broker and sends orders to slave-brokers. For this reason order can be opened on slave account earlier than on master account. Your delay doesn’t depend from mt4 copier. Delay depends only from the broker’s execution time. I do not know any other mt4 copier which will copy orders without delay. And quite incredible that any other copier could open order on slave account earlier than on master. STP module is BJF Trading Group know how.
We have tested mt4 copier on several different accounrs and we have coded expert advisor for testing purposes. (no strategy, just open and close orders)
If you will test PowerTradeCopier with STP and then compare accounts, you will find orders that were open on slave account earlier then on master account! Do not believe me, see for yourself. This fully confirms that the mt4 copier “PowerTradeCopier” with STP module has no delay.
Who need STP Module
If you use scalping expert advisors, or expert advisors with short take profits, this module for you. You will be able to copy orders from your accounts to your clients accounts without delay and as rule save money for your clients.
The types of people that will find this useful will be forex brokers, forex signal providers and forex money managers. If the manufacturer claims that you don’t need to start the MT4 terminal then you are going to be interested and I was! Additionally the manufacturers claims that this is a copier that suffers no delays while working. So let’s go through it all.
Less than one hour after having bought the trial version I received the download link. Installation took me one minute and I did not face any difficulties. The standard installer comes with the program and the process for installing it could not be easier. Rated 9 / 10 (I dropped it by 1 point since the installer window does not auto scale).
Adjusting and technical description
Together with the download link, I have received the link on usage and features description. What I liked was the usefulness of the interface and the ease with which I could add several various MT4 accounts although the technical description needs to be clearer.
The software contains lots of features; different money management, filters and parameters. I used a simple lot with a 1:0.5 scale for my first test and ran it on my forex robot.
Interface: Rated 10 / 10 Documentation: 9/10 Tech support: 10/10
You have additional tech support options over the phone, email or skype.
Copying – different modes
I used 4 modes to test this. By this, I mean different lot scaling options. I used a scalping robot with different types of orders (market buy/sell, pending, buy stop/sell stop). I could let the PowerTradeCopier work solidly over a 24 hour period after which I compared the log files and statements. There were a few small differences in the orders between the sub and master accounts yet against the other MT4 copiers I have tested these differences had no impact on the final results. Copying scores a 10 / 10 and there is no delay.
I had no issues when I tested the filters. Additional features: 10/10
Conclusion: This PowerTradeCopier is professional software for forex signal providers, money managers and forex brokers. With a score of 9.66 out of 10 I believe it is the best MT4 copier.
James Lee, Software Engineer, UK
BJFTradingGroup Company has released upgrade for MT4 Copier – PowerTradeCopier version 188.8.131.52
In this version fixed:
- Auto-synchronization error after reconnect
- pending orders copying with expiry date
- memory leak issue with several Windows versions
Mt4 copier PoweTradeCopier has no latency, because it sends orders directly from client’s computer or VPS (virtual privat server) to brokerage company.
How mt4 copier PowerTradeCopier (Provider mode) works
PowerTradeCopier sends user’s settings to our server in fully automated mode, and then user loads settings from settings to their computers in fully automated mode. But all orders will be send from clients accounts directly to the broker. For this reason delay depends only from the broker execution time. Money manager or Forex signal provider can add delete, block or unblock any subscriber (client) remotely, but this operations do not require fast execution. Most important parameter for any MT4 Copier is latency. And we have solved this problem using direct orders sending from user to server.
Learn more about PowerTradeCopier: http://multiterminal.net
On this tab you can adjust several very important parameters.
Slippage – this is difference between the price a trader expects to be filled at, and the price they are actually filled at.
Copy with slave price – this option allows copying the order to slave at slave’s price no matter how far it is from master’s price (slippage will be ignored).
RepeatCount – this is the number of retries that software will do if order copying will fail by any reason except slippage error (for example if you will get “trade context is busy” on slave while trying to copy the order).
TimeOut repeat – this is the time (in minutes) during which the program will try to copy the order (on price change) on slippage error. After this time the log message will be written that it was impossible to copy the order for slippage.
Correct expiration date – this is the value (in minutes) that will be added to the pending orders expiry time on slave. You should increase it’s value if the pending orders are not accepted on slave by “Time error”. This error happens when you set “Expiry” time for pending order on master account when this time has already passed on slave account because of difference in time on different servers.
Closure attempts quantity – this is the number of times PowerTradeCopier will re-try to close the order on slave account if the first attempt failed for any reason.
OwerwriteComment – by means of this option you can delete or overwrite comments or write new comments (in NewComment field).
Account Copier Feature: Add spread
This feature will be very useful if you copy forex scalping strategy or strategy with short sl or tp.
– this feature adds a multiple of the spread to the entry and or exit. In short when the master opens the order (BUY, SELL), on the slave a pending order should be opened (BUY LIMIT, SELL LIMIT) with execute price of the original order + (-) “Add Spread” value.
In NORMAL (non-reverse) MODE the “Add Spread” will always be deducted from the order’s BUY price and added to the order’s SELL price.
Example 1: If order was opened on master account BUY at 1.3852 and “Add Spread” = 2, then on slave account BUY LIMIT order will be opened at 1.3850
Example 2: If order was opened on master account SELL at 1.3855 and “Add Spread” = 5, then on slave account SELL LIMIT order will be opened at 1.3860
In REVERSE MODE function should also work together with “Reverse” mode. In this mode, BUY LIMIT order will always be below the market price and SELL LIMIT order will be above the market price.
Example 3: If order was opened on master account SELL at 1.3910 and “Add Spread” = 4 , then on slave account BUY LIMIT order will be opened at 1.3906
Example 4: If order was opened on master account BUY at 1.3920 and “Add Spread” = 4 , then on slave account SELL LIMIT order will be opened at 1.3924
If “Add Spread” = 0, then the function will continue to open the LIMIT order at exactly the same price as the original master order
Example 5: If order was opened on master account SELL at 1.3910 and “Add Spread” = 0 , then on slave account BUY LIMIT order will be opened at 1.3910
Example 6: If order was opened on master account BUY at 1.3920 and “Add Spread” = 0 , then on slave account SELL LIMIT order will be opened at 1.3920
Account Copier Feature: Margin control
Margin control – allows to close all active orders on slave account and not copy new ones when this slave account’s balance reaches specific value. If it is active (checked), user can specify the in two edit boxes: Risk percent and Balance start.
Risk percent = 25
Balance start = 20000.00
Above means that we are willing to take risks 25% from $20000.00 which is $20000.00-$5000.00 = $15000.00
Therefore if the account balance will reach the level $15000.00 then margin control function should work and it should
1) close all currently active trades on this slave account
2) block copying any new trades to this account
This tab allows you to control copying of StopLoss and TakeProfit
Copy SL and Copy TP – these options allow to specify if you wish to transfer modifications of SL/TP from master to slave account.
Correct low TP level and Correct low SL level – these options are useful if slave broker has limitations for SL/TP level (Stop Loss, Take Profit and Pending Orders N pips or more away from the current price). If slave server rejects modification because of specified SL or TP is out of allowed bounds you will get “SL or TP less than the resolved level” error message in your log and trade will not be modified. If you check these checkboxes, PowerTradeCopier will place Stop Loss and (or) TakeProfit on minimal allowed distance from the current price.
StopLoss and TakeProfit Copying Mode
You can set copying mode for StopLoss and TakeProfit
“A”: absolute mode. StopLoss and TakeProfit values will be copied from master side as is.
“P”: pips mode. StopLoss and TakeProfit values will be adjusted. Absolute values transforms to pips, then pips applied to calculate new StopLoss and TakeProfit on slave side.
Hidden – in this mode StopLoss and TakeProfit will be hidden from broker (will not be copied to slave). The values of StopLoss and TakeProfit profit stored in the memory and software will observer the price on slave; when proper level of SL/TP will be reached, order will be automatically closed by software.
OverwriteSL and OverwriteTP – these options allow you to overwrite copying size of StopLoss or(and) TakeProfit (new values should be specified in NewStopLoss and NewtakeProfit fields)
move SL and move TP – these are functions that allow you to move StopLoss for a certain amount below the level of StopLoss the master account (the same is for TakeProfit).
Type OpenPrice TakeProfit StopLoss Calculation formula
Master account BUY 1.4 1.405 1.395
Slave account BUY 1.4 1.405 1.394 1.3950-10pips
Type OpenPrice TakeProfit StopLoss Calculation formula
Master account SELL 1.4 1.395 1.405
Slave account SELL 1.4 1.395 1.406 1.4050+10pips
(as for “SELL” trade StopLoss level is higher then OpenPrice, so in this case value of “move SL” is added to StopLoss level of Master but not subtracted from it)
This function is useful when the master and slave accounts are on different brokers. When slave account broker provides greater spread (or a different currency pairs has different spreads). So it may happen that the master account has not yet reached StopLoss, while on the slave it may be reached which may lead to different results on slave and master.
SL nul copy and TP nul copy – these settings relate to “move SL” and “move TP” functionality. If these checkboxes are checked then slave will get “Move SL” and “Move TP” levels even in case if SL and TP level on the master is zero.