Description

EXP COPYLOT Client MT5 For Build 4790+: A Comprehensive Guide

Alternative Title: Mastering Trade Copying with EXP COPYLOT Client MT5 For Build 4790+

Table of Contents

1. Introduction
2. Key Features
3. Setting Up EXP COPYLOT Client MT5
4. Configuring Client Settings
5. Advanced Options
6. Troubleshooting and Best Practices
7. Conclusion

Introduction of EXP COPYLOT Client MT5

EXP COPYLOT Client MT5 For Build 4790+ is a powerful trade copier designed for the MetaTrader 5 platform. This tool allows traders to copy forex trades between various accounts, including MT5 to MT5 and MT4 to MT5. Whether you’re managing multiple accounts or looking to follow successful traders, EXP COPYLOT Client MT5 offers a reliable solution for seamless trade replication.

Key Features of EXP COPYLOT Client MT5

• Copy trades between MT5 and MT5, as well as MT4 and MT5 terminals
• Support for demo and investment accounts
• Multi-terminal compatibility
• Flexible copying options (one-to-many, many-to-one)
• Cross-broker compatibility
• Support for hedge and netting accounts

Setting Up EXP COPYLOT Client MT5

1. Install the Expert Advisor in your MetaTrader 5 terminal where you want to copy trades.
2. Open the terminal and attach COPYLOT CLIENT to one chart.
3. Set a unique text label name as pathRead (e.g., “COPY”). This should match the master terminal’s PathWrite.
4. Ensure the EA is set to only one chart.

Note: By default, the advisor copies all positions from your account.

Configuring Client Settings for EXP COPYLOT Client MT5

Basic Settings

• pathREAD/pathWrite: Set the file path for storing position information. Avoid spaces and special characters.
• Magic: Define a magic number to identify positions or trades.
• PreFixSymbol: Set to “Auto” for automatic detection of currency pair symbol suffixes.
• ChangingNamesSymbols: Use this to replace symbol names if they don’t match between terminals.

Trade Copying Options

• PendingOrdersCopy: Enable or disable copying of pending orders.
• PositionsCopy: Toggle copying of positions from the master terminal.
• ReverseCopy: Reverse trades when copying (Buy becomes Sell and vice versa).

Risk Management

• LotRiskFromMaster: Copy risk settings from the master and adjust lot size proportionally.
• LotExp: Multiply or reduce lot size when copying from the master.
• RiskLot: Set a percentage for dynamic lot calculation.
• MinLott/MaxLott: Define minimum and maximum lot sizes for opening positions.

Stop Loss and Take Profit

• TakeProfitCopy/StopLossCopy: Copy take profit and stop loss levels from the master.
• CorrectSLTPbyMaster: Adjust SL and TP levels if opening prices differ.
• My_STOPLOSS/My_TAKEPROFIT: Set custom SL and TP independent of the master terminal.

Advanced Options

Trailing Stop and Breakeven

• TrailingStopUSE: Enable trailing stop functionality for copied positions.
• IfProfTrail: Start trailing stop only after reaching breakeven.
• Trailingstop: Set the distance for trailing stop in pips.
• Breakeven: Move stop-loss to breakeven after reaching a certain profit.

Filtering and Limiting

• ProfitCopyOnly/LossCopyOnly: Copy only profitable or losing trades based on pip thresholds.
• FilterLotMin/FilterLotMax: Set minimum and maximum lot sizes for copied trades.
• SymbolToCopy/SymbolNotToCopy: Specify which symbols to copy or exclude.

Delayed Copying

• Clients extra Delays: Add delays when copying trades, either in seconds or points.
• Delay_Seconds_General: Set a general delay between advisor requests to the server.

Troubleshooting and Best Practices

1. Partial Close Issues: MT5 doesn’t support partial closing. Orders can only be closed in the same lots they were opened.
2. INOUT Limitation: INOUT is not supported. Orders are copied upon activation as positions.
3. Internet Copying: COPYLOT doesn’t copy via the Internet. It’s designed for copying between terminals on one computer.
4. VPS Compatibility: COPYLOT doesn’t work on MetaQuotes VPS.
5. Regular Updates: Keep your EXP COPYLOT Client MT5 updated to ensure compatibility with the latest MT5 builds.

Conclusion

EXP COPYLOT Client MT5 For Build 4790+ offers a comprehensive solution for traders looking to replicate trades across multiple accounts and platforms. By understanding and properly configuring its features, you can streamline your trading process and potentially improve your overall trading performance.

Remember to always test the copier on demo accounts before using it with real funds. Keep an eye on your risk management settings and regularly review your copying strategy to ensure it aligns with your trading goals.

Learn more about forex trade copying strategies

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Have you tried EXP COPYLOT Client MT5? Share your experience or ask questions in the comments below!

For the metatrader 4 version CLICK HERE