How I became a famous trader (a true story, believe it or not …)

About Author: Sergey S. professional forex trader and software developer on MQL4. He has published several articles on articles.mql4.com 

One day, for a special
contribution to the development of a software package I received, as an added
bonus,  trading account managed by
profitable advisor.


 Here’s what I got:


  1. Account number
    (AN)            - trading account number,
  2. Invest Pass Word
    (IPW)        - investor password,
  3. Trade Server
    Address (TSA) – the address of the trade server
  4. Magic number (MN)              - identifier for the orders owned
    by the advisor.


 This advisor was
designed by the well known trader that won prizes at the advisor’s
championships, held by the company MetaQuotes Software Corp., so I treated him
with due reverence, logged to this trading account, viewed 3-year history of
the trade and realized that it is possible to make good money.


 To start, I tried to
manually repeat the transaction on a demo account, but soon realized that  I can not manage with such work.


Careful analysis
allowed to identify in the Expert Advisor behavior following characteristics:


  1. For the number of
    days advisor could deal exclusively  with
    scalping using continuous order’s 
    stoploss/    takeprofit-levels
    modifications.
  2. Scalping suddenly
    came to an end and a new game similar to the martingale accompanied by a
    continuous modification of orders could start and might last for several days.
  3. Combination of
    conduct in p. 1. and p. 2. might take place.


 It became clear that I
need  automatic trades copier that meets
the following requirements:


  1. Acceptable advisor
    operations copy delay for the scalping to have any sense.
  2. Acceptable copy
    accuracy for quotations and prices when opening and modifying orders.
  3. Availability of
    powerful tools to manage the volumes for copied positions, because the volumes
    of each  order in order’s chain may in
    fact be the part of a trading strategy.
  4. Availability of a
    Magic Number filter to select individual
    orders for copy


 At first glance, to
find automatic trades copier at now days is not a problem, but in reality it
was not so simple.


Within two months, I
tested four copier
s. No any questions, all these
programs really was made very well,  they
all work fine and steady, the interface is a logical and very friendly — all
tips, contextual Help, well-chosen operations mnemonic, high-quality
documentations and so on.

However, none of them passed the test number 1. –
acceptable advisor operations copy delay! 

There were
cases
when open order delay exceeded one hour! Moreover, sometimes the orders did not open at all!  Developers were not
surprised that such cases
take place and explained this by “abnormal flow of quotations”, sometimes they said that “ticks come very frequently,” or vice versa –
“ticks come very rarely,” or refer
ed
to shortcomings of the
MT4 terminal itself. But for me It was clear that
skipping even a single order from the trading strategy order’s chain is not
acceptable.


 Well, but
I’m myself the programmer, so, having spent a month I wrote for himself a
simple (without interface) copier to copy trades from one Master-MT4 terminal
to another MT4 Slave-terminal. The result was the same – the unacceptable
delays, order copy skippings.
 It was clear that the delay is a result of either MT4 terminal, or the
trading server.
Trading server testing
showed quite decent results. 
So, MT4 terminal remained responsible for poor performance, in principle, it is clear, too many functions
assigned to it!  But to work
independently with the trading server without MT4 terminal – this task
is not for me, so I turned to Google to
search for the
copier
that works without
MT4 terminal.


And I found
exactly such copier – PowerTradeCopier (http://multiterminal.net/)  products from BJF Trading Group (http://iticsoftware.com/).


I acquired the demo-version, installed it and wanted to go for testing, but it appears
that the interface, to put it mildly, not very friendly! 
I had to refer to the documentation,
however,
as for me, and the documentation was not satisfactory! I had to spend a couple of days to sort out the interface buttons, what and where, etc. Sometimes
such things happen !  At last, I moved on
to testing and did not regret the time spent. The result exceeded all
expectations! 
I run on one computer
MT4 terminal with  Master-account and on
another computer
MT4 terminal with demo Slave-account.  Hard scalping started
o
n Master-account,  Slave-demo account repeated
all Master-account activity one to one, it was visually impossible to
distinguish which account
is the Master and
which
is the Slave.  And this despite the fact that the Master and Slave had trading servers from different brokers!


Thus, the requirement
of №


1. Acceptable advisor
operations copy delay for the scalping to have any sense.


is satisfied !


The orders opening
price
s and the prices
of modified field
s 
​​StopLoss and TakeProfit of
Master and Slave accounts differed by no more than 10-15 points and it is at 5-point quotes!


Thus, the requirement
of №


2. Acceptable copy
accuracy for quotations and prices when opening and modifying orders.


is satisfied !


Next, it was necessary
to deal with the Money Management. Documentation in this part
was executed perfectly.  The developers
clearly realized that the
copier purpose is not only to copy orders, but to copy the trading strategy itselfHere in this file http://multiterminal.net/PowerTradeCopier-settings.pdf  all Money Managemets methods related to the orders volumes for Slave
accounts are explained in detail
,
so I  ha
d’t
much difficulty to set the parameters related to the volume
of Slave account orders.


Thus, the requirement
of №


3. Availability of
powerful tools to manage the volumes for copied positions, because the volumes
of each  order in order’s chain may in
fact be the part of a trading strategy.


is satisfied !


Since the number of advisers can simultaneously run on Master account, it was critically important
to be able to make copies of orders issued only
by “our”
adviser. Our copier
in addition to all other filters also has a Magic Number filter! 


Thus, the requirement
of №


4. Availability of a
Magic Number filter to select individual
orders for copy.


is satisfied !


Copier testing 
lasted  around the clock for two
weeks. During this time,
the
profit of 15% of the initial
balance  was recorded
at Slave account and up to 17% of the initial balance on
Master account. A
s we can see, the
results are quite acceptable. Any critical failures in the process of copying
were
not fixed.


Inspired by these
results, I attached
my
own real account as a Slave account
to
the
Master account and set this my own real account to monitor on a well-known site http://www.onix-trade.net/.


A month‘s profit on Slave account
totaled 27% of the initial deposit
and on the Master account 24%. Thus  some transactions on the Slave account were
executed
at the best prices!


 Offers to buy my “own” trading signals were sent to me by number of clients !


What
could I do?


And
once more, PowerTradeCopier (http://multiterminal.net/) products
from BJF Trading Group (
http://iticsoftware.com/) 
came to help me !


 The
fact is – this copier can operate in two modes:


1.
Copier-mode – mode to copy(to buy) trading signals, in which we worked until
now.


2.
Provider-mode – mode to sell trade signals.


However,
these modes are mutually exclusive. So, I had to buy another copy of the
installation, which I launched in Provider-mode by setting as Master account my
real account that really was Slave account for another Master account!
 No any efforts were required from my subscribers  as to by what
software tools are needed for them to copy my trade
signals because PowerTradeCopier
incorporates components responsible solely for
trade signals copying from a particular
provider.  Each
my subscriber received from me for free this software tool to copy my trades signals!


So,
I get the interesting scheme that has two 
sources of income:


1.
I have the profit on my own real account as a result  of 
getting trade signals.


2.
I have the profit as a result of selling “my own” trade signals.


Since
I get trade signals for free, I set monthly fee for “my own” trade signals
supplied at a rate of $ 100. After six months, the number of subscribers to my
trading signals exceeded 60, offers keep coming …


 Meanwhile, my trading methods are actively discussed at various forums,
my name is always at the hearing, respected traders are listening attentively
to my market forecasts, and brokers eager rivalry to invite me to appear in
preview trailers …So I became famous trader! 
But
thanks to what?

Sergey S. , Ukraine

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