Copy trading
MetaSignalsPro posted:PatrickMcAleer posted:
Hi,
Can anyone advise how one goes about setting up a copytrading account? Is it done through myfxbook or is it an ancillary site like signal or autotrade?
I have used copy trading system on etoro and tried other systems (like Duplitrade which is awful) but just wondering how we can mirror the best performing strategies on here? I already have a linked to my broker account.
Any advice greatly appreciatedFrankly, copy-trading is a useful tool but it cannot tell you what risk you take following this or that guy.Is he even following a strategy? If yes, is it an automated one? Only based on his "talent"?All what trading and algo trading are about is risk-management and expected returns.With no access to its metrics you have no clue of the risk you are taking.HOWEVER, you can perfectly follow the signal of an algo that gives you access to its metrics.Mql5 gives a good tool for that and you can filter out signals based on their
Automaticity (Using algos or not)
Leverage
Profit
Max drawdown
ReliabilityAnd with these filters, you will discover who is N°1 ;-)
Signal "using algos"
Profit: no max
Max drawdown: -15%
Reliability: 100%
Leverage: 1/100Let me know your thoughts and trade safe,Chris
Copytrading is the same as stock-picking. The ones I picked go -30%, but some of the ones I missed went +70,000% in a couple of years. Idk how to cope with this.
This is called a cost of opportunity; if you trade this stock that means you are trading this other one.The FOMO is extreme if you pick stocks.But if you do it goes down to a combination of fundamental and technical analysis.Fortunately screeners will help you in that prospect.on which trading platform are you trading?
PatrickMcAleer posted: Hi, Can anyone advise how one goes about setting up a copytrading account? Is it done through myfxbook or is it an ancillary site like signal or autotrade? I have used copy trading system on etoro and tried other systems (like Duplitrade which is awful) but just wondering how we can mirror the best performing strategies on here? I already have a linked to my broker account. Any advice greatly appreciated
Myfxbook is mainly for transparent performance tracking and analytics. For actual automatic copy trading / mirroring of strategies, most people use a dedicated platform like SignalStart (or similar services).
Since you already have a broker account linked, the process is straightforward:
Register on signalstart.comConnect your existing MT4/MT5 account (use the investor password — they only get copy-trade access, no withdrawal rights)Browse the signals and filter by the metrics that matter to youSet your own risk parameters (lot multiplier, max open trades, equity/DD protection, etc.)Subscribe and click Copy — trades are then mirrored automatically on their hosted systemNo VPS is usually required. Setup can be done in a few minutes.
If you’re looking for a strong, high-frequency gold strategy to start with, AIforGOLD is currently one of the more interesting ones on there. It’s an AI-powered trend-following system that has been extensively refined and optimized specifically for XAUUSD volatility.
Current live tracked results: • +1747.84% gain • 33.49% max drawdown • 74% win rate across thousands of trades on a real account
Full analysis + Copy button here: https://www.signalstart.com/analysis/aiforgold/289845
($75/month for the signal)
You can also run their simulator first to test different lot sizes and risk settings before going live.
Hope that helps — feel free to ask if you get stuck on any step of the connection.
That’s the thing with copy trading: the platform connection is the easy part. The real work is checking drawdown, trade duration, hidden grid or martingale behavior, and whether the provider’s risk still makes sense when copied with slippage. I spent months setting balanced medium risk copytrading portfolio on HFM, learning stuff little by little
copy trading ain't as straightforward as just clicking a button to mirror someone else's moves, the real kicker is that hidden max drawdown and underlying holding logic can wipe u out real fast. too many noobs just stare at win rates and past gains while completely ignoring if the provider is secretly running a grid or holding onto a massive losing bag until a crazy market spike blows the whole account. if ur gonna mess with copy trading or use any tools to manage positions, u gotta crunch the numbers on max drawdown and risk allocation beforehand. stuff like ffc margin calculator can help keep those risk parameters tight before u even place a trade.
I use FX Junction with my Admirals MT5 account and so far I mainly like that I don’t have to move money anywhere else. The account stays with Admirals and FX Junction is basically the copy trading layer on top of it. I can choose traders, check their stats and set my own risk before copying them. What I’m still watching closely is execution during fast markets, because that probably depends as much on the broker as on the copier itself. For me that’s the main thing I’d test before running several accounts with larger size.
