Great tutorials on how to get best results in Forex Copier
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How to copy orders for the symbols with different suffixes?A
1. If you have a suffix on your Receiver account (for example, the name of EURUSD pair is EURUSDpro), please open Forex Copier 3 program, click "Settings" on Receiver account, go to "Advanced settings" tab, enter the suffix into "Add this suffix to symbol name of copied orders" field and uncheck "Allow auto adjusting symbol names" option.
2. If you also have a suffix on Source account please click "Settings" on a Source account, go to "Advanced settings" tab and enter the suffix into "Remove this suffix" field.
3.Then click "Apply Scheme" button to apply new settings.
4.Please change suffixes manually only if the automatic adjustment does not work.
5.By default, Forex Copier should copy orders for the pairs with different suffixes by itself.
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Auto Adjust Lot Size Based On EquityA
1.Please open Forex Copier 3 program, click "Settings" on Receiver account in Forex Copier 3 program.
2.Switch to "Lot/risk management" tab and click "Use custom lot size".
3.Then select “Proportional lot based on Source/Receiver Equity ratio” and click “Save and Finish” .
4.After this please click “Apply Scheme” button so Forex Copier will start using new settings.
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Copy Only Profitable TradesA
1.Forex Copier 3 has an option to copy only profitable orders, so the order will not be copied immediately, it will be copied to Receiver account only after this order has some pips of profit on Source account.
2.Please note that the order will be opened at current market price (by default) on Receiver account.
3.Please launch Forex Copier 3 application, click "Settings" button on Source account, switch to "Filtering orders" tab, click "Do not send some orders…" check "Copy only orders which are at least … pips in…" (please see the screenshot).
4.Set necessary value and select "profit" in drop-down menu.
5.After this, click "Save and Finish" button and click "Apply Scheme" to apply these new settings.
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How to copy orders with big time differenceA
1.By default, Forex Copier doesn’t copy orders which were opened more than an hour ago.
2.If you want to copy such orders, please open Forex Copier 3 application, click "Settings" on Receiver account, go to "Filtering orders" tab, and set big value in "Ignore orders which were opened … minutes ago or earlier" field.
3.After this, click “Save and Finish” button and click “Apply Scheme” to apply these new settings.
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Custom sound when some event happensA
1.To change the sound which will be used when market order is opened please open Forex Copier 3 application, click “Settings” on Receiver account, go to “Event sounds” tab, click “Play custom sounds when some event happens” and select the sound in a drop-down menu near the necessary event.
2.Sound files should be placed to "Sounds" folder. Sound files should have *.wav format.
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Reverse Stop Loss and Take Profit in Reverse ModeA
1.This option is enabled by default when you activate Reverse Mode in Forex Copier 2 program.
2.To find it please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Reverse Mode” tab and activate “Use Reverse Mode” option.
3.If this option is enabled then Receiver’s Stop Loss will be equal to Source’s Take Profit and vice versa – Receiver’s Take Profit will be equal to Source’s Stop Loss.
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How to copy/do not copy BUY ordersA
1.By default, Forex Copier copies all types of orders but if you do not want to copy BUY orders please open Forex Copier program, click “Settings” on Source account, go to "Filtering orders" tab, select "Do not send some orders to Receiver account(s)" option, click "Show settings" and activate "Do not copy BUY market orders".
2.After this, please click “Save and Finish” and then click “Apply Scheme” button to apply new settings.
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Show Advanced LogsA
1.If this option is activated then Copier will write more information into log files, this parameter is used for debug purposes.
2.To activate it please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Advanced settings” tab and activate “Write advanced logs” option.
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How to adjust an open price of copied orders on Receiver accountA
1.By default, Forex Copier opens orders at current market price on Receiver account. If you want to copy orders only in some price range please click "Settings" on Receiver account, go to "Price adjustments" tab, click "Wait for better price before opening/closing market orders".
2.And there you will find options which can be useful for you, for example, "Open price on Receiver should be equal or better".
3.In this case, Forex Copier will wait for the same or better price on Receiver account and open order only in this case.
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Show Info LabelsA
1.If this option is activated then Copier will show the information labels in the left-top corner of the chart.
2.To activate it please open Forex Copier 3 program, click “Settings” on Source account, go to “Advanced settings” tab and activate “Show info labels on chart” option.
3.After this, click “Save and Finish” button and click “Apply Scheme” to apply new settings.
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Ignore SL and TP for market ordersA
1.By default, Forex Copier copies all orders and SL/TP levels too. If you do not want to copy SL/TP please open Forex Copier 3 program, click “Settings” button on Receiver account, then switch to “SL / TP settings” tab, click “Adjust Stop Loss / Take Profit”, then select “Open copied orders without SL/TP” option.
2.After this, please click “Save and Finish” button and then “Apply Scheme” to apply new settings.
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How to not to close losing orders on Receiver accountA
1.By default, Forex Copier closes all orders immediately at current market price. However, if you do not want to close losing orders on Receiver account you can activate “Wait For Close Price” option and Forex Copier will wait for appropriate close price.
2.To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Price adjustments” tab, click “Wait for better price before opening/closing market orders”, switch to “Price adjustments for closing orders” tab and activate“Close when order’s profit is at least … pips”
3.After this, please click “Save and Finish” button and then “Apply Scheme” to apply new settings.
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How to adjust position sizesA
By default, Forex Copier copies orders with the same lot size but you can copy orders with different lot size by selecting one of lot management options in our program.
You can find all these lot management options in Forex Copier 3 application, just click “Settings” button on Receiver account and go to “Lot/risk management” tab (please see the screenshot).
1.“Multiply lot size from Source account by” – this option will multiply the original lot size by the value, which is entered in the field. If original order is opened with 1 lot and you have Lot Multiplier =2 then Forex Copier will open order with lot size=2 on Receiver account
2.“Proportional lot based on Source/Receiver Equity ratio” – if you have 1000 Equity on Source account, 100 Equity on Receiver account and you open an order with 1 lot on this Source account, our software will copy the order with 0.1 lot size
3.“Always use fixed lot for copied orders” – Forex Copier will always open orders with entered value
4.“Use risk management” - If you set some value here then the lot size of each copied order will be adjusted and this order will risk no more than selected % of your account in case the Stop Loss is hit.
Please note that original order should have Stop Loss so our software can calculate result lot correctly.
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How to copy orders with custom SL/TP levelsA
1.By default, our program copies all orders with SL/TP levels. However, Forex Copier has an option to ignore original SL/TP and copy orders with custom SL and TP levels, which you enter in our program.
2.To activate this option, please open Forex Copier 3 program, click “Settings” on Receiver account, go to “SL/TP settings” tab, activate “Adjust Stop Loss / Take Profit”, click “Set fixed SL/TP in pips” and enter necessary values into “Stop Loss pips” and “Take Profit pips” fields.
3.After this, please click “Save and Finish” button and then “Apply Scheme” to apply new settings.
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Add Pips To SL and TPA
With this option you can define stop loss and take profit in pips (1 pip = 0.0001 for non - JPY pairs, and 0.01 for JPY- pairs). Source’s orders will always be copied to Receiver account with settled SL/TP.
For example:If you set StopLoss=50 pips and TakeProfit=30 pips and Source account sends Buy order with execution price at 1.0000, SL at 0.9900, TP at 1.0010. Forex Copier will set SL at 0.9950 and TP at 1.0030 as it set.
To enable this option, please:
1. Check “Adjust Stop Loss/Take Profit” radio button.
2. Choose “Set fixed SL/TP in pips”.
3. Fill in the “Stop Loss” and “Take Profit” fields with needed value.
4. Click "Save and Finish" button.
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Max Number of OrdersA
This setting defines the maximum number of orders allowed on the Receiver account, if the number of orders on this account is more or equal to this parameter then all new tasks from the Source account will be ignored.
For example:1.You set "Ignore new orders if current price of opened orders is..." = 5.
2.Currently there are 2 BUY orders and 2 BUY STOP orders on Receiver account.
3.After that, you get the new task from the Source (let's say SELL order). This order will be processed.
4.So you will have 2 BUY + 1 SELL + 2 BUY STOP = 5 tasks in total.
5.After that you get another task from the Source (let's say SELL LIMIT order) this task will NOT be processed because the total number of orders on the Receiver account is 5 so the task will be ignored.
To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Filtering orders” tab, activate “Ignore some orders from Source account”, click “Show advanced settings”, activate “Ignore new orders if current number of opened orders is … or more” and enter necessary value there. After this, please click “Save and Finish” button and then “Apply Scheme” to apply new settings.
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How to copy/do not copy SELL ordersA
By default, Forex Copier copies all types of orders but if you do not want to copy SELL orders please open Forex Copier program, click "Settings" on Source account, go to "Filtering orders" tab, click "Do not send some orders to Receiver account(s)" option, click “Show settings” and activate “Do not copy SELL market orders”.
After this, please click “Save and Finish” and then click “Apply Scheme” button to apply new settings.
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How to enable risk managementA
This option is designed for risk management. If you set some value here then the lot size of each copied order will be adjusted and this order will risk no more than selected % of your account in case the Stop Loss is hit.
Note: the original order should have the Stop Loss level.
1.To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Lot/risk management” tab, activate “Use custom lot size” option, then select “Maximum percentage of Equity risk per one order” and enter necessary value there.
2.After this, click “Save and Finish” and then click “Apply Scheme” button to apply these new settings.
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How to copy/do not copy Pending ordersA
By default, Forex Copier copies all types of orders including pending orders. If you do not want to copy some types of pending orders or pending orders at all you can do this in Forex Copier 3 properties.
1.Please open Forex Copier 3 program, click “Settings” on Source account, go to “Filtering orders” tab, click “Do not send some orders to Receiver account(s)” option, click “Show settings” and activate “Do not copy BUY STOP”, “Do not copy BUY LIMIT”, “Do not copy SELL STOP”, “Do not copy SELL LIMIT”.
2.After this, please click “Save and Finish” and then click “Apply Scheme” button to apply new settings.
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Use Spreads In Reverse ModeA
If this option is enabled then in Reverse Mode the Pending orders’ entry price will be adjusted according to the Receiver’s spread value.
See the table below to get more information:
Source Receiver (Reverse Mode) Buy Limit Sell Stop - Spread Sell Limit Buy Stop + Spread Buy Stop Sell Limit - Spread Sell Stop Buy Limit + Spread
To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Reverse Mode” tab, activate “Use Reverse Mode” option and click on “Consider spreads in reverse mode for pending orders” option.
Then click “Save and Finish” and then “Apply Scheme” button to apply these new settings.
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Stop copying orders in case of drawdown on Source/Receiver accountA
When at least one of these drawdown options is enabled Forex Copier will stop processing "Open order" signals from Source account when Drawdown percent or Drawdown value is too big or Equity of Source/Receiver account is lesser than entered value.
Drawdown percent is calculated as the difference between current Equity and maximum historical Equity in percentage.
To activate these settings please open Forex Copier 3 program, click “Settings” on Source account if you want to calculate the drawdown of Source account or on Receiver account if you want to calculate a drawdown of Receiver account, then go to “Emergency stop” tab, activate “Use emergency stop” option and then activate necessary drawdown setting(s).
If you activate “Close all orders if one of above conditions is met” then Forex Copier will close all orders on this account in case of drawdown.
After this, click “Save and Finish” and then click “Apply Scheme” button to apply these new settings.
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How to install Forex Copier 3A
To install Forex Copier 3 please follow these instructions
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Max Number Of Orders Per SymbolA
This setting defines the maximum number of orders allowed for one symbol on the Receiver account, if the number of orders on this account for this symbol is more or equal to this parameter then all new tasks from the Source will be ignored.
So for example:
1.You set "Ignore new orders for symbol if current number of orders for this symbol is..." = 2.
2.Currently there are 2 BUY EURUSD orders and 2 BUY STOP GBPUSD orders on Receiver account.
3.After that you get the new task from the Source (let's say SELL USDJPY order). This order will be processed, so you will have 2 EURUSD orders + 2 GBPUSD orders + 1 USDJPY order.
4.After that you get another task from the Source (let's say BUY STOP EURUSD order) this task will NOT be processed because the total number of orders for EURUSD = 2.
To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Filtering orders” tab, activate “Ignore some orders from Source account”, click “Show advanced settings”, activate “Ignore new orders for symbol if current number of orders for this symbol is … or more” and enter necessary value there.
After this, please click “Save and Finish” button and then “Apply Scheme” to apply new settings.
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How to copy orders for the symbols with different prefixesA
1.If you have a prefix on your Receiver account (for example, the name of EURUSD pair is aEURUSD), please open Forex Copier 3 program, click “Settings” on Receiver account, go to “Advanced settings” tab, enter the prefix into “Add this prefix to symbol name of copied orders” field and uncheck “Allow auto adjusting symbol names” option.
2.If you also have a prefix on Source account please click “Settings” on a Source account, go to “Advanced settings” tab and enter the prefix into “Remove this prefix” field.
3.Then click "Apply Scheme" button to apply new settings.
Please change prefixes manually only if the automatic adjustment does not work.
By default, Forex Copier should copy orders for the pairs with different prefixes by itself.
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How to set a lot multiplier on Receiver accountA
By default, Forex Copier copies orders with the same lot size but you can set to multiply the lot size of copied order by selected value.
Example 1:Source account trades on $1000 account, your account is $50000, if you copy the orders from Source account as is you will get too small profit (loss). So you can set multiplier 50, and when the order on Source account is opened with 0.1 lot you will get an order with lot = 5.
Example 2:Source account trades on account $100000, your account is $20000. It will be dangerous to your account to open the same lot, sometimes it will be impossible.
So you can set multiplier 0.2 and when order on Source account is opened with lot = 10 you will get an order with lot = 2.
If resulting lot is smaller than minimum lot in your MetaTrader® then this order will be opened with minimal lot.
* MetaTrader®, MetaTrader 5®, MT4®, MT5® are the registered trademarks of MetaQuotes Software Corp. The developers of Forex Copier are not affiliated with MetaQuotes Software Corp.
1.You can find Lot Multiplier option in Forex Copier 3 application, just click “Settings” button on Receiver account, go to “Lot/risk management” tab and activate “Use custom lot size”.
2.Then enable “Multiply lot size from Source account by:” and set necessary value there.
3.After this, please click “Save and Finish” and “Apply New Scheme” buttons to apply these new settings.
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Copy Only Losing TradesA
Forex Copier 3 has an option to copy only losing orders, so the order will not be copied immediately, it will be copied to Receiver account only after this order has some pips of loss on Source account.
Please note that the order will be opened at current market price (by default) on Receiver account.
1.Please launch Forex Copier 3 application, click “Settings” button on Source account, switch to “Filtering orders” tab, click “Do not send some orders…” check “Copy only orders which are at least … pips in…” (please see the screenshot).
2.Set necessary value and select “loss” in drop-down menu.
3.After this, click “Save and Finish” button and click “Apply Scheme” to apply these new settings.
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How to change slippageA
Slippage is used when the signal is sent to the MetaTrader® server.
Slippage defines maximum difference between the price which sent to the MetaTrader® sever and actual execution price.
* MetaTrader®, MetaTrader 5®, MT4®, MT5® are the registered trademarks of MetaQuotes Software Corp. The developers of Forex Copier are not affiliated with MetaQuotes Software Corp.
If slippage is too small then Copier will have to try opening orders many times. If slippage is too big then orders on Master and Receiver accounts can be opened with big price difference.
Slippage is defined in pips, 1 pip = 0.0001 for non-JPY pairs and 0.01 for JPY pairs.
1.To change slippage please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Advanced settings” tab and change “Slippage:” value.
2.After this, please click “Save and Finish” and “Apply New Scheme” buttons to apply these new settings.
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How to copy reversed ordersA
Reverse Mode feature allows to copy orders with type opposite to Source's order type:
•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
1.To enable Reverse Mode please open Forex Copier 3 application, click “Settings” on Receiver account, switch to “Reverse Mode” tab and activate “Use Reverse Mode.
2.Copy opposite orders from Source account” option.
3.After this, click “Save and Finish” and “Apply Scheme” buttons to apply new settings.
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How to copy/do not copy Close/Delete OrdersA
By default, Forex Copier copies all types of orders (OPEN, MODIFY, DELETE, pending orders etc.).
If you do not want to copy DELETE orders you can do this in Forex Copier properties.
In this case, if the order is closed on Source account it will not be closed on Receiver account by our software.
1.To enable this setting, please open Forex Copier program, click “Settings” on Source account, go to “Filtering orders” tab, click “Do not send some orders to Receiver account(s)” option, click “Show settings” and activate “Do not copy Close/Delete”.
2.After this, please click “Save and Finish” and then click “Apply Scheme” buttons to apply new settings.
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Do not copy orders with the lot size lesser (bigger) than entered valueA
By default, Forex Copier copies all orders but you can set to not to copy orders if the lot size of this order on Source account is too small or too big.
For example, you can set to not to copy orders if the lot size of this order is lesser than 0.5 or bigger than 3 and our software will ignore such orders.
1.To enable this setting please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Filtering orders” tab, click “Ignore some orders from Source account”, click “Show advanced settings”, activate “Ignore orders with lot size smaller than … lots or bigger than … lots” and enter necessary value(s) there.
2.After this, click “Save and Finish” and “Apply Scheme” buttons to enable these new settings.
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How to filter orders by currency pairA
Forex Copier copies orders for all currency pairs by default (if this currency pair is shown in Market Watch window on Receiver account). However, you can set to copy orders for some particular symbols and do not copy orders for other symbols.
For example, if you set to copy orders for EURUSD, AUDUSD and GBPJPY symbols, our software will copy orders only for these three pairs and it will ignore all other orders.
1.To enable currency pairs filter, please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Filtering orders” tab, activate “Ignore some orders from Source account”, click “Show advanced settings” and activate “Currency pairs filter:” setting.
2.In appeared window add necessary symbols one by one (you need to click “Add” button to add a necessary symbol into this window).
3.Then click “Save”, “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to copy/do not copy Modify OrdersA
By default, Forex Copier copies all types of orders (OPEN, MODIFY, DELETE, pending orders etc.).
If you do not want to copy MODIFY orders you can do this in Forex Copier properties.
In this case, if the order modified on Source account it will not be modified on Receiver account by our software and SL/TP levels will not be changed.
1.To enable this setting, please open Forex Copier program, click “Settings” on Source account, go to “Filtering orders” tab, click “Do not send some orders to Receiver account(s)” option, click “Show settings” and activate “Do not copy Modify”.
2.After this, please click “Save and Finish” and then click “Apply Scheme” buttons to apply new settings.
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How to copy orders with fixed lot sizeA
By default, Forex Copier copies orders with the same lot size but you can set to copy them with fixed lot size.
For example, if you set to copy orders with lot 0.1, Forex Copier will copy all orders with this lot size.
1.You can enable this setting in Forex Copier 3 application, just click “Settings” button on Receiver account, go to “Lot/risk management” tab and click “Use custom lot size”.
2.Then activate “Always use fixed lot for copied orders:” and set necessary value there.
3.After this, please click “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to copy orders with different lot multiplier to each Receiver accountA
Forex Copier copies orders with the same lot size by default. However, you can set to copy orders with different lot multiplier to each Receiver account.
For example, if you set to copy orders with lot multiplier=0.5 to first Receiver account and with lot multiplier=2 to second Receiver account then our software will copy orders with different lot sizes to these accounts (two times lesser lot size on first Receiver and two times bigger lot size on second Receiver).
1.To enable this setting please open Forex Copier 3 program, click “Settings” on Source account, switch to “Lot/risk management” tab, activate “Use custom lot size”, click “Multiply every lot size by different values for each Receiver account” and set necessary lot multipliers near each Receiver account.
2.After this, click “Save and Finish” and “Apply scheme” buttons to apply these new settings.
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How to not to copy pending orders but copy pending order executionsA
Forex Copier copies all types of orders by default. But you can set to not to copy pending orders but copy pending order executions (when pending order becomes market order) in the properties of our software.
After this, Forex Copier will not copy pending orders (Buy Stop, But Limit, Sell Stop, Sell Limit) but will copy orders when pending orders will become market orders (Buy, Sell).
1.To enable this setting please click “Settings” on Source account, switch to “Filtering orders” tab, activate “Do not send some orders to Receiver account(s)”, click “Show settings” and activate “Do not copy pending but copy pending executions” option.
2.After this, click “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to filter orders by commentA
Forex Copier copies all orders with all comments by default. However, you can set to copy orders with some particular comments and do not copy orders with other comments.
For example, if you set to copy orders with “comment1” and “comment2” comments, our software will copy orders, which have one of these two comments, and it will ignore all other orders.
Please note that you need to enter the same comment names which the orders can have.
1.To enable comments filter, please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Filtering orders” tab, activate “Ignore some orders from Source account”, click “Show advanced settings” and activate “Comments filter:” setting.
2.In appeared window add necessary comments one by one (you need to click “Add” button to add a necessary comment into this window).
3.Then click “Save”, “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to copy orders with the same comment which original order hasA
By default, Forex Copier sets the number of original order into the “Comment” field of copied order so you can track the original order in easy way.
However, it has an option to set the original comment into “Comment field” of copied order. For example, if original order has comment “comment1”, copied order will also have this comment.
1.To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Comment management” tab and activate “Put original comment from Source into comment on Receiver” option.
2.After this, please click “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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Number Of TriesA
Sometimes, Forex Copier cannot open an order on Receiver account due to some error (requote period on the broker server, server doesn’t respond, insufficient funds etc.).
In this case, Forex Copier tries to open this order many times. You can change the number of tries, which the program will perform to copy an order in the properties of our software.
1.Please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Advanced settings” tab, change the value in “Max number of tries to execute order if MT4®/MT5® cannot open the order: … tries” and enter necessary value there.
* MetaTrader®, MetaTrader 5®, MT4®, MT5® are the registered trademarks of MetaQuotes Software Corp. The developers of Forex Copier are not affiliated with MetaQuotes Software Corp.
2.After this, please click “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to change the comments of copied ordersA
By default, Forex Copier sets the number of original order into the “Comment” field of copied order so you can track the original order in easy way.
However, it has an option to set the custom comment for copied orders. For example, if you set to copy orders with comment “comment1”, all orders will be copied with such comment.
1.To activate this setting please open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Comment management” tab and activate “Set this comment for each copied order on Receiver” option.
2.After this, please click “Save and Finish” and “Apply Scheme” buttons to apply these new settings.
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How to copy orders for the symbols with different namesA
Forex Copier has an option to copy orders for the symbols with completely different names, for example, DAX30 -> GER30.
This setting is called “Symbol name mapping” and you can find it in the properties of our software.
1.Just open Forex Copier 3 program, click “Settings” on Receiver account, switch to “Advanced settings” tab and click “Edit” button near to “Symbol name mapping” field.
2.In appeared window connect the symbols with different names, for example, GER30=DAX30.
3.After this, click “Save”, “Save and Finish” and “Apply Scheme” buttons to apply new settings.
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