TRADE COPIERS

Disclaimer

Trading multiple accounts assumes you are implementing different strategies for each account. While trade copiers can offer potential advantages, they also introduce equal or greater risks. Use them with caution.

Using Trade Copiers to Trade Multiple Accounts

What Are Trade Copiers?

Trade copiers are software tools that allow traders to replicate trades across multiple accounts in real-time. They’re particularly useful for prop firm traders who manage multiple accounts and need to ensure consistent execution across all accounts.
A trade copier takes trades executed on a master (leader) account and duplicates them in one or more follower accounts. These tools can be used across different brokers or platforms, depending on the copier’s compatibility.

Benefits of Using Trade Copiers

Better Risk Management:

• By spreading trades across multiple accounts, traders can scale down positions in each account. This reduces the risk of hitting max drawdown limits set by prop firms, as losses are distributed rather than concentrated.

Efficiency and Consistency:

• Execute trades once on the master account, and let the copier replicate them across all follower accounts. This saves time and reduces manual errors.

Scalability:

• Trade copiers allow traders to leverage multiple accounts, potentially compounding profits without increasing per-account risk.

Enhanced Profit Potential:

• With smaller positions in each account, traders can still achieve substantial overall gains when trading multiple accounts simultaneously.

Compliance with Prop Firm Rules:

• Many prop firms impose strict risk and drawdown rules. Trade copiers help ensure that traders adhere to these by managing trade sizes and allocations effectively.

Psychological Benefits of Using Trade Copiers

In addition to the technical and financial advantages, trade copiers offer significant psychological benefits to traders, particularly those managing multiple prop firm accounts. Here’s how they help:

1. Reduced Fear of Loss

• Trading Less Size Reduces Pressure:

  By scaling down position sizes across multiple accounts, traders are less impacted by individual losing trades. The reduced risk per account diminishes the emotional sting of a loss, allowing traders to stay calm and focused.

• Improved Confidence:

  Knowing that each trade represents a smaller fraction of the total capital helps traders approach the market more rationally, without the paralyzing fear of losing large sums on a single trade.

2. Avoidance of Overtrading

• “Good Money for the Day” Mindset:

  Trading multiple accounts enables traders to achieve substantial cumulative profits even with smaller trades. This helps traders feel accomplished earlier in the day, reducing the temptation to keep trading and potentially giving back gains.

• Satisfaction with Distributed Gains:

  Seeing consistent profits across several accounts reinforces discipline and encourages traders to stick to their plan rather than chase additional trades.

3. Emotional Stability

• Balanced Response to Wins and Losses:

  Spreading trades across accounts creates a more even performance curve, which helps traders maintain emotional equilibrium. Smaller, consistent gains feel more sustainable and less like “gambling.”

• Eliminating “All-In” Mentality:

  The ability to diversify risk across accounts reduces the all-or-nothing mindset. Traders no longer feel the pressure to “make it all back” on one big trade after a loss.

4. Increased Focus and Clarity

• Simplified Decision-Making:

  With trade copiers automating execution, traders can focus on strategy and market analysis rather than juggling multiple platforms and accounts manually.

• Avoiding Analysis Paralysis:

  By trading smaller sizes and distributing risk, traders can act decisively, knowing that no single trade will make or break their performance.

5. Reinforced Discipline

• Encourages Strategic Trading:

  Trade copiers naturally align with a structured, methodical trading approach. The systematic replication of trades discourages impulsive, oversized positions or deviation from the plan.

• Accountability Across Accounts:

  Managing multiple accounts forces traders to adhere to rules, as breaking them in one account could compromise overall profitability across all accounts.

Potential Risks of Using a Trade Copier

• A single loss can result in simultaneous losses across multiple accounts, even if smaller in scale.
• Increased complexity may lead to higher chances of human error in managing orders and positions.
• Platform bugs or copier malfunctions can cause amplified and undetected losses.
• Requires monitoring multiple platforms to ensure account synchronization.

Summary:

While the potential upside is significant, the risks must not be overlooked, as they can be equally or even greater if unmanaged.

How to Use Trade Copiers for Prop Trading

1. Set Up the Master and Follower Accounts:

• Identify the account you will trade on as the master account.
• Link the follower accounts to the trade copier software. Ensure that the copier is compatible with your prop firm’s data connection or platform.

2. Configure Trade Copier Settings:

• Set risk parameters for each follower account. This might include position scaling, or copying to micro contracts from full-size or mini.
• Determine if the copier should replicate trades in exact size or adjust trade sizes proportionally based on account balances or risk tolerances.

3. Integrate Risk Management Rules:

• Use the copier to divide positions across multiple accounts to minimize the chance of hitting max drawdown limits.
• Set account-specific restrictions (e.g., only copy trades within a specific risk threshold or position size).

4. Monitor and Optimize:

• Continuously monitor performance across all accounts.
• Adjust copier settings as needed to align with prop firm rules and market conditions.

Introducing the ETP Trade Copier – A Perfect Match for PropShopTrader!

At PropShopTrader, we’re committed to equipping futures traders with the best tools for success. That’s why we’ve partnered with ETP, a firm we’ve trusted and worked closely with for years. ETP shares our passion for empowering prop traders, offering innovative trade copier technology, exceptional support, and a relentless focus on helping traders achieve their goals.

With ETP’s cutting-edge tools and comprehensive training, you’ll have access to the industry’s most reliable trade copying solutions – designed to streamline operations and maximize efficiency.

The PST Advantage:

When you purchase multiple accounts with PropShopTrader, the ETP Trade Copier is included FREE OF CHARGE – delivering even more value to our traders.

Join us in leveraging our long-standing partnership with ETP and experience the perfect combination of top-tier technology, unmatched support, and a shared dedication to your success.

Why Choose ExpertTradingProgrammers.com’s Trade Copier?

The Trade Copier from ExpertTradingProgrammers.com offers features specifically designed for prop firm traders:

• Multi-Connection: Connect to multiple brokerage accounts and prop firms and copy across multiple connections simultaneously.
• Multi-Account Compatibility: Works seamlessly with various prop firms enabling traders to manage multiple accounts efficiently.
• Platform Neutral: Connect all accounts available in the Rithmic connection gateway.
• Customizable Risk Settings: Allows traders to define position sizes, risk ratios, and scaling factors for each account.
• Full-Size / Mini to Micro: Copy trades from full-size to micro contracts or vice versa for more flexible risk management and trade management.
• Real-Time Execution: Ensures trades are copied with minimal delay, maintaining consistency across all accounts.
• Precise Execution: Trade with precision and accuracy across all pending orders, entries, exits, and order cancellations.
• User-Friendly Interface: Simple to set up and operate, even for traders new to trade copiers.
• Robust Performance: Handles high-frequency trading and large-scale operations with ease.

Start Using the ETP Trade Copier Today!

Getting started is simple:

Option 1: Purchase multiple accounts with PropShopTrader and get FREE access to the ETP Trade Copier.
Option 2: Purchase the ETP Trade Copier directly from their website and enjoy exclusive savings we’ve arranged just for you.