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How to Set up Copy Trading

A Pictorial Guide to setting up the TradeCopier App.

You will need an MT4 Account with TD365.  If you have an existing CloudTrade account only, you can add the MT4 account in CloudTrade.  Please contact our support team if you need any assistance.

 

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Sign Up to TD365

Setting up Your Account

Create Your Account

Download the Trade Copier App from Apple Store or Google Play.

Create a profile by filling in your details, such as your email, password, first and last name, phone number, and country of residence.

Then click Register

After selecting register, look at your email for confirmation and return to the app to log in.

Link your TD365 MT4 Account

Start by selecting account from the main menu and select the link an account button.

You will be prompted to enter your server, MT4 account number and password.

Click Done

Choose whether you will be copying or providing signals.

You can only choose one per account or TradeCopier profile.

Helpful Tip

The server to select is TradeNation-LiveBravo

Password is the password for your MT4 Account with TD365

 

Create Your Profile

Once you log in, you can edit your Profile.

Go to Account on the main menu, then select ‘Edit profile’.

You can edit your signal name, image, first and last name, and search handle.

You can also add a picture or logo to your profile.

Helpful tip

Your signal name is the one that will be visible to other users on the app.

Finding a Master Trader

Beware the big returns – there is more you should know!

When you know your Master Trader

If you know the Master Trader you want to copy, simply select ‘discover’, then type their handle in the search box.

Once you have found the trader you want to copy, just click COPY.

How to Choose a Master Trader to Copy

Click on the DISCOVER menu and you can see the lists of Master Traders. You can select Spotlight, Signals (all Master Traders), or Master Traders with Low, Medium and High Drawdown levels.

However, there is more than the headline return when you are choosing a Master Trader to copy!

Review their return history chart and performance.
– Is it consistent over time?
– Do they have a large unrealised loss?
– What is their leverage?

Scroll down and you can see their performance over the last 12 months, minimum and maximum profit per month and their percentage of wins and losses.

To see markets traded, click on the pie chart and the instrument will be displayed.

Review their recent trades to determine current trading size and return (in amount and percentage). To review recent and open trades, click the arrow next to Realised P/L.

At the top of their profile you can see the fee that they charge, how many people are copying, and how many people are following them.

Helpful Tips

The percentage return shown on the App is the total return from when the Master Trader started. It is not indicative of current returns or an annual return.

The fee charged is a percentage of your net profits from copying the master trader. It is paid directly from your MT4 account.

Setting Your Trading Parameters

How to set your Trade Size and Risk Parameters

Set Your Trade Size

Your Trade Size is a key component of setting your risk parameters. Your trade size should be set in consideration with your drawdown parameters (see below), and the drawdown levels of the Master Trader you want to copy.

Fixed size

All the trades will be the trade size set by you, and not the trade size used by the Master Trader you are copying.

Mirror Master Size

All your trades will be the same trade size as the Master Trader you are copying. This is most suitable if you have a similar account size to the Master Trader.

Proportional by Equity

The trade size is in proportion to the size of your account compared to the size of the Master Trader’s account you are copying.

As an example; If the proportion is set to 1, your account is $1000, and the Master Trader account is $10,000, each of your copy trades will be 10% of the size placed by the Master Trader.
The default proportion is set to 1. However, you can adjust the proportion to your own risk parameters.

Round up Trade Size

If you select ‘Round up to minimum trade size’, this will ensure you do not miss any trades when using a proportion by equity approach.
This is optional.

Copy Existing Trades

If you select ‘Copy Existing Trades’, any open trades of the Master Trader will be copied to your account.

Note that these will be opened at the current price, not the price originally entered by the Master Trader.
This is optional.

Set Your Drawdown Limits

After you have set your trade size and agreed to copy, you need to set your drawdown levels.

Max drawdown is determined by calculating how your running losses compare to your opening balance.
It does not consider how your balance might change over time.

For example, if you open your account with $100 and set your drawdown to 20%, this would be a loss of $20. However, if you account grows to $1000 and your drawdown is still 20%, the drawdown would still be 20% of your initial balance of $100, or $20.
If you wanted to increase your drawdown to 20% of your current equity, you will need to reset your drawdown.

Soft Stop Level

Enter a value for your Soft Stop Level, which will be your soft drawdown level. A value of 10 will mean 10% of your initial account balance.

If your Soft Stop Level is triggered, all copying will be suspended. No future trades will be placed on your account until your reset your Soft Stop level.

Hard Stop Level

Enter a value for your Hard Stop Level, which will be your hard drawdown level. Your Hard Stop Level needs to be larger than your Soft Stop Level.

If your Hard Stop Level is triggered, all copying will be suspended. All of your copy trades will close and copying will be suspended.

Helpful Tips

If your account balance changes significantly, or you make additional deposits or withdrawals, you may need to reset your drawdown level.
If your Soft Drawdown Level is triggered, but you want to stay in the trade, you can reset your Drawdown levels and this will adjust the levels to your current equity.

Other Useful Functions

Stop Copying or Edit Parameters

Go to your account and select ‘Signals’.
This will show a list of the Master Traders you are copying. Select the Master Trader you wish to change or stop copying.

In the Master Trader screen, select ‘Edit Copy”. In the next screen you can change your trade size or select ‘Stop Copying’.

Helpful Tips

There are many links to FAQ’s and information within the App if you need more information.