Forex trading is a world characterized by constant change, activity and progress. You either playorlose. There is no room for those who are risk-averse. To survive, you have to stay vigilant and play not to lose but to win. There is no other way around.
The advent of technological advancement has undeniably changed the rules of the game and provided the trading processes more efficiency and accuracy. Essentially, it created leverage for traders. Trading with leverage sounds very appealing but you should not fall for every leverage trap. With so much comfort and access to spare, it sometimes leads you to a damning situation. But hey, for those of you who have that capacity to recover quickly from losses and stay afloat, then you’re in for a huge haul. Forex trading is filled with opportunities that are yours for the taking which just requires your determination (and a whole lotta prayer as well). With a big risk, and big work as possible, it can definitely give you the highest rate of return on your investment.
A dynamic forex trade copier software is one perfect example of an opportunity you cannot afford missing for a successful trading. It is where account managers are able to operate several accounts from a single master account.
To put it without fuss, a trade copier service automates the entire copy trading process because it uses software to copy trades to multiple trading accounts, like your MT4 accounts running on different locations around the world, all at the same time. They are mostly used by Forex account managers since the software allows the master trader to focus on trading effectively in one account and thereafter, the same will be copied in other linked or slave accounts. In effect, it enables the user to trade on multiple MetaTrader 4 (MT4) accounts simultaneously, duplicate trades to your other accounts, mirror the trades of any trading bot to your friends and family accounts (even if it is locked on your MT4 account number), create investment portfolios of many MT4 accounts, remove risk of unregulated Forex brokers, turn losing trading strategy into a winner and become an independent account manager immediately without the need to sign any contracts or opening expensive percentage allocation money management accounts (PAMM) with the broker. All such trading transactions, regardless of the computer or the location of the main trader, are copied immediately to the linked accounts. More importantly, the entire process makes it easy and bearable for beginners to find their way through the forex market since they can link their accounts to that of a professional and experienced trader. With that, these beginners can make profitable trades in less time. Basically, the system works like a mirror, whatever happens in the main account is reflected immediately to the other accounts. This is basically the reason why using trade copier is referred to as mirror trading. You see, forex trade copier exists to give you something like an ultimate home-court advantage. You now have the familiarity. You now know the drill. Now, it entirely depends on you and your honed skill to use this software to your advantage.
A common misconception with the trade copier software is that it has been likened to a trading signal service which operates using a trade copier. It is important to note that the trade copier merely delivers the trades. The one responsible for making money is actually the trading signal service which just uses the trade copier for the delivery of trades. The trade copier will never make you money on its own and it will never trade Forex for you without a trading manager or Forex Expert Advisors running on the other end.
Trade copiers for MT4 exist because majority of software is designed around the MT4 trading platform. Hence, many trade copiers are compatible with it. Users must look into several features when choosing a copier in order to avoid relay problems and incorrect copies which may lead to huge losses. Most often than not, MT4 trade copiers are based on an Expert Advisor (EA), which makes it possible for traders to work with any broker within the MT4 platform.
Before you start duplicating your trades to other accounts, here are some useful things to consider when choosing a reliable trade copier for MT4:
- The trade copier software company should offer you unhindered technical support.
- It should give flexible risk management options to allow you adjust your risk accordingly.
- It should be flexible enough to allow you to copy specific trades while filtering the ones that are not needed.
- Other factors to consider should include auto-scaling ability, small-memory size utilization and user-friendliness.
An eye for the right trading strategies and the proper usage of skills are universally acknowledged facts to a successful forex trading. However, it does not stop there. A real trading talent can be seen how you efficiently and effectively deal with the opportunity of revolutionizing your trades with the application of cutting-edge technologies. Such is the development of trade copier services. Don’t let a chance like this slip through your fingers! Trade big and profit big!
Husband I Dad l Friend l CEO & Founder – FX Tech Group Ltd.