Let me address some frequently asked questions about the Local Trade Copier and how it can filter trades when copying them between multiple MT4 accounts.
Can your trade copier filter trades when copying them between MT4 accounts?
Yes. Our MT4 trade copier includes multiple filters. You can filter trades by a magic number, master account number, lot size, and currency pair. This helps you copy only desired group of trades and also allows you to have unique settings for each slave account.
How does your trade copier adjust settings of trade received by a slave account?
In order to achieve this, all you need to do is choose the desired settings for Client EA which includes changing the lot size, taking profits, stopping loss of a trade, or applying other useful filters. You can even adjust trade settings on a master MT4 account before it is sent to the slave accounts. This can be very helpful if you usually copy trades to multiple slave accounts and want to deliver trades with a bigger or smaller lot size, stop loss or take profit value, instead of setting them on each slave accounts separately.
Can I Filter Trades Using a Magic Number?
If you have trades coming from multiple sources in your master MetaTrader 4 account, you can filter them using a specific magic number. The trade copier software will copy only those trades which have the same magic number that you entered in the EA.
Is it Possible to Exclude Trades Using a Magic Number?
You can exclude certain trades from copying by using a specific magic number. If your master account is traded using multiple EAs, a different magic number will be used by each. If you don’t want trades of a certain EA, simply use its magic number in the Client EA settings and exclude them.
Filtering Trades by a Master MT4 Account Number
If you want several slave accounts to receive trades from different master accounts i.e. if you copy trades from multiple master accounts, you will find this filtering feature handy, which filters trades based on a Master MT4 Account Number. The best thing about this feature is that you can enter multiple master account numbers in the filter at once, separated by commas. For example, if you enter 123,777,444; the Client EA will receive trades only from master accounts with these numbers.
Can I Filtering Trades by Lot Size?
Our trade copier also lets you filter trades based on lot size. You will find this feature very helpful while copying Martingale Forex robots.
Here’s a scenario.
Your Martingale EA starts trading with the lot size of 0.1, keeps doubling it, and trades get closed in loss in the following sequence: 0.1, 0.2, 0.4, 0.8, 1.6, etc. In this case, you can set your Client EA to not receive trades with the lot size lower than 0.4. As a result, the first two loser trades will not be copied and you avoid losing money. In addition to the lot multiplier setting, you can set your Client EA to start the trade sequence at 0.1. This will greatly reduce your possibility of losing money. Also, Client EAs can be set to ignore lot sizes that are too small or too big.
Please Explain the Currency Name Filtering and Exclude List
Our trade copier program allows you to choose the currency pair trades that you would want to receive for your slave account. In this flexible filter, you can set multiple pairs for trading by entering a comma separated list of pair names. Also, you can make use of the exclude-list in which you can enter pair names that you do not want to trade.
Learn more about the Local Trade Copier software