How to benefit from copying unprofitable orders?
In previous article we talked about how to copy trades from account of successful trader or from account with installed profitable strategy. But what to do if the results of source account trading are disappointing? What to do if the account of a trader who gave you his investor password loses much more money than it earns? Or strategy which you have downloaded or purchased online trades only at a loss? Do not despair, you have an opportunity to earn even on copying losing trades! If you want to know how to achieve this then this article is written just for you.
You ask yourself how is it possible to make money on copying unprofitable orders? Because when you copy these orders to your account you will get the same losing orders on your side. But with help of Forex Trade Copier you can reverse trades and turn losing trades into profit. This feature is called “Reverse Mode” and when you enable this feature Forex Copier will copy orders as follows:
- BUY order will be copied as SELL
- SELL order will be copied as BUY
- SELL Stop order will be copied as BUY Limit
- SELL Limit order will be copied as BUY Stop
- BUY Stop order will be copied as SELL Limit
- BUY Limit order will be copied as SELL Stop
So when source account opens BUY order on his side, Forex Copier turns this order and opens SELL order on receiver side. Accordingly to this, orders on source and receiver side will show opposite results so if source account’s order is losing then on receiver side there will be profitable order.
To activate “Reverse Mode” feature you need at first to download and install Forex Copier Installer. Installation is very simple, you can perform it in a few clicks. You can see how to install our program on our site here or please watch our video about how to install the program.
You just need to specify the source account as Master and your account as Slave account. If you use an automatic strategy which trades on the Master account then you need to have your EA on one chart and Forex Copier EA installed on another chart. During the installation, you can activate Reverse Mode feature by checking “Reverse Mode” option when configuring Slave account properties.
If you forgot to activate Reverse Mode in Installer or already have our program installed and don’t want to reinstall it then you can enable Reverse Mode in SignalProcessor EA options in MetaTrader terminal. By default, there will be “false” value in “ReverseMode” input and you need to set this option to “true” and then press “Ok” button.
Forex Copier has many useful functions which allow you customizing lot size of copied orders or ignore inappropriate trades. If you worry about too big lot sizes on the source account and you want to decrease them on the Slave account you can use “LotMultiplier” option to multiply original lot sizes by some specific value. Or our program can adjust the lot size for you and it will open orders based on original account and your account balance so you will risk the same percent of your balance which original account risks.
As in the case of usual copying, reverse copying process is completely automatic so once you installed and configured the program just leave your terminals launched and you are free to do anything you want while Forex Copier will do the entire job for you.