Trade Copiers, Trade Duplicators, Trade Cloners – you must have heard of them by now. They’ve become increasingly popular as a solution to problems in EA settings, server hour-offsets, and authentications and offer beginners a “plug and play” solution to replicate the trades of good EAs or even professional traders.

Lot size is no worry. Most good trade duplicators will contain a “Lot Multiplier” setting that allows you to set your account to take trades in direct or higher or lower proportions to the account whose trades you’re copying. Just bear in mind, higher is not better unless there is a good profit expectancy in the track record of the account – and especially not if the strategy is one that uses a much larger stop loss than take profit.

Typically, trade copiers contain a “heartbeat” or “ping” system, where the “sender” account will update the “receiver” accounts with any new trade, pending order or trade order modification. These updates can be set at any interval in seconds from 1 to 999. However, the most common setting would be between 5-20. I use 10. It’s no good for within-the-second scalps, but good for everything else.

If you would like to receive a FREE trade copier software, or if you’d like to see me do a video tutorial of how to setup a trade copier software, please leave your requests in the comments box below:

This entry was posted in Trade Copier and tagged cloning trades, trade cloner, trade copier, trade duplicator by Julian Wong. Bookmark the permalink.

FAPTurbo EURUSD M15 Scalper Setting

A quick post… as you know, FAPTurbo stops you out sometimes, while it’s usually within the low 1-5 pips, there are the times where you get a 50 pip stop-out – that’s enough to wipe out the previous day’s profit.

On a recent EURUSD stopout, I matched my results with the ones on FAPTurbo’s homepage, and I realised that my a 0.00007 entry price difference gave them a profit and gave me a the loss. On my end I attribute this to FXOpen’s festive increased spreads.

Looking at the chart, there was little upward room, and the reason for the stop out was likely the trade entered on a high spread, which cut out the margin for profit.

Nonetheless, still better to keep out of a trade than to have a losing one.

I suggest for EURUSD M15, reduce the MaxSpread from default of 7 to 5.

Optimal FAPTurbo Settings

This may be a little late, but comparison between two accounts running Fapturbo V54 showed me that during this Christmas, the default settings worked better than the settings from Forex Expert Guide. Settings from the FEG resulted in less trades and less profits. Run the defaults till 4 Jan.

$325.14 profit while I trimmed my nose hairs. MDP V1.2 Rocks!

A neat $325.14 in profit in 2 minutes of, err…. I wouldn’t term it work. I was trimming my nose hairs to be exact, and OUT OF NOWHERE came this big spike on the EURUSD and a few other main pairs.

I was momentarily annoyed that a trade I had on Usdcad got closed out with BE+9 when profit previously floated at 40-50 pips- but I then discovered that there was this 0.64 lot that I didn’t remember setting a pending order for… so turns out there were a few more! – all courtesy of Million Dollar Pips EA.

So this is what it looks like on the responsible Million Dollar Pips v1.2 M1 chart…
MDP hasn’t taken full TP in a long while. December-January wasn’t so smooth, as you can see on the vendor’s website. Some wrote to me complaining about performance, but my take is that you just need to put MDP on the right settings, and be consistent with it. Don’t cut lots and risk just because you had some losses. My experience with MDP is that on a monthly basis, you’ll see more profits than loss.

My MDP V1.2 Settings:
These served me well all this time-
Additional Channels = 3
Max Simultaneous Trades = 3
Slippage = 1.5
Group Orders = True
Everything else is left on defaults.

Known Setup Issues:
On various internet forums there are people rubbishing MDP to say that it’s losing money constantly, or doesn’t trade, etc. The real issue is that you need a good VPS and highly-liquid ECN FX Broker.

I’m currently using FXPrimus ECN Premier with UCVHost.com VPS, and I find that my trades mirror the vendor’s pretty well. FXOpen is good too, I’ve used that, and they’ve got one of the fastest-known MT4 price feed – but for those wondering, I switched back to FXPrimus because FXOpen didn’t support Tom’s EA, which I wanted to run on all my accounts.

BUY IT NOW! if you haven’t.. this is one of those EAs that has worked very well over a long period of back and forward-testing.

Abnormal USD/JPY Surge Against Upper Bollinger on D1 Chart Spells Need For Trading Caution

The USDJPY has NEVER moved like this for a long time. For what has largely been sub 70 pip days, it now has been in a sustained uptrend since last week.

This could be an equal upward move to last July’s decline. We may see a return to 80+ from current 79 levels.

Counter-trend traders, we need to see a 1-2-3 setup to validate a reversal. There’s a high likelihood of mistaking a pullback for a reversal.

Martingale traders, including Tom’s EA users, you got to cut your pairs or increase capital to minimise one-way runs. Follow Dustin’s earliest recommendation of $2500 per Tom’s EA Risk Level. The particularly dangerous pairs now include ALL the mains- particularly GBPJPY, EURJPY, EURUSD, GBPUSD, USDCAD. Short timeframe day-trades and scalps are recommended.

Recommended styles of trading – Harmonic patterns, Break Out Bar, Inside Bar Setup.

Manual Trading Systems that will be effective – Black Dog Forex Trading (pictured in charts above), Trend Forex 2.0 – operating on H1 and H4 TFs.

URGENT! FAPTurbo will be trading soon! Change your settings to these to improve your P&L!

Alot of folks on my list are using FAPTurbo, a time-tested and proven scalper. However, lately users will note that performance is sub-par.

If you are using Rob Casey’s Forex Expert Guide, his settings will keep you out of several of the losing trades. Still, following my recommendations here will be good for you.

View FAPTurbo’s own live account result HERE (your open, close, SL, TP should be closely similar):

However, today alone, those on default settings would have had 3 stop outs – enough to wipe
out 2-3 weeks of profit. That is not good.

FAPTurbo has a risk reward of 5:1 to 7:1, that means you risk 5% to make 1% gain. Normally, such figures do not make sense, but due to the sheer accuracy of the FAPTurbo programming, losses are few and users see good profit.

The current forex market is very choppy, and causing many EAs to perform less effectively than normal.

I have observed that FAPTurbo’s trades that last for more than a 5 hours have a higher probability of running into stop loss. Also, these losing trades tend to be the ones that trade for the second or third time that day.

Please make the following adjustment:

“One Trade = 1″ (default is 0)

FAPTurbo’s first trades of the night usually turn in a profit and close within 2 hours. Make the suggested amendment. Perhaps in later stages of the European economic mediations, we can return to One Trade = 0, for several trades per day.

I included a screenshot to help you understand what I’m talking about.

Trading will start in a few hours. Please make the changes now.