6-Minute Guide to Lightning-Fast Trade Cloning on MT4 & MT5 for Forex, Stocks, Gold, Oil, and More

Introduction

This tutorial will guide you through using the Local Trade Copier™ software to clone trades across multiple MT4 and MT5 accounts instantly. This tool is ideal for traders looking to efficiently manage multiple accounts in Forex, Stocks, Gold, Oil, and more, ensuring that all trades are replicated without delay.

Step 1: Install Local Trade Copier Software

• Visit the Local Trade Copier website at www.mt4copier.com.
• Download the software suitable for either MT4 or MT5, depending on your platform preference.
• Follow the installation prompts to set up the software on your computer.

Step 2: Configure the Master and Slave Accounts

• Open the Local Trade Copier application.
• Set up your Master Account:
  • This is the account where you will execute your trades.
  • Input your account details as required.
• Set up your Slave Accounts:
  • These are the accounts that will receive the cloned trades.
  • Enter the details for each slave account you want to connect.

Step 3: Adjust Settings for Trade Cloning

• Navigate to the settings menu within the Local Trade Copier application.
• Configure the following options:
  • Copy Type: Choose whether to copy all trades, only specific symbols, or based on other criteria.
  • Risk Management: Set parameters for lot sizes and risk levels to ensure trades are cloned appropriately across accounts.
  • Delay Settings: Adjust any necessary delays if you want to manage the timing of when trades are copied.

Step 4: Test the Setup

• Place a test trade in your Master Account to check if the cloning feature works correctly.
• Monitor your Slave Accounts to ensure that the trade is replicated as expected.
• If the trade does not appear, revisit your settings to troubleshoot common issues like connectivity or account setup.

Step 5: Start Trading

• Once you have confirmed that the cloning works perfectly:
  • Begin executing your trades in the Master Account.
  • Watch as the trades are automatically and instantly cloned to all Slave Accounts.
• Continue to monitor performance and adjust settings as needed based on trading strategies and account performance.

Practical Tips

• Regularly check for updates to the Local Trade Copier software to ensure optimal performance and compatibility.
• Consider using demo accounts to practice and familiarize yourself with the software before using real money.
• Always review the risk settings to ensure they align with your trading strategy and risk tolerance.

Common Pitfalls to Avoid

• Make sure all accounts are funded and active to prevent issues with trade copying.
• Ensure your internet connection is stable, as any disruptions can affect trade cloning.
• Verify that all account details are entered correctly to avoid connection errors.

Conclusion

Using the Local Trade Copier™ software, you can significantly streamline your trading process by cloning trades across multiple accounts in real-time. By following these steps, you can set up and start using this powerful tool effectively. For further customization, continue exploring the features of the software and adjust your settings for optimal performance. Happy trading!