Forex Trade Copier Manual
How to connect your MT4 account to our signal providers
Risk Warning: SimpleTrader.net is a wholly owned subsidiary of Think Huge Limited. Think Huge
Limited and all its associated entities take no responsibility for loss incurred as a result of using our services. We endeavour to maintain constant connection to your account, however if a disconnection does occur and you experience financial loss as a result of using our software you agree not to hold Think Huge Limited liable for these losses. Your account may disconnect at any time for reasons outside our control.
Investing in the foreign exchange (Forex) market, alternative investments, and other leveraged asset classes carries a high level of risk, and may not be suitable for all types of investors. Before deciding to invest in any type of alternative investment, you should carefully consider your
investment objectives, length of investment and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor, who is familiar with these types of trading if you have any doubts.
Trading in these markets is speculative and may involve loss of principal; therefore funds placed under management should be risk capital funds that if lost will not significantly affect one's personal or financial well being. This is not a solicitation to invest and you should carefully consider your financial condition as to the suitability to your situation prior to making any
investment or entering into any transaction. Effects of Leveraged Trading: Spot Forex Transactions carry a high degree of risk. The amount of initial margin is small relative to the value of the Spot FOREX Contract so that transactions are "leveraged" or "geared". As an example, a margin deposit of $2,000 can control a market value of approximately up to $100,000. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to deposit; this may work against you as well as for you. You may sustain a total loss of initial margin funds and any additional funds deposited with the firm to maintain your position.
Given the possibility of losing a substantial investment, trading funds should only consist of risk capital or funds that an individual or an institution can afford to lose. We assume no responsibility for errors or inaccuracies in these materials. We do not warrant the accuracy or completeness of the information, text or other items contain within these materials. We shall not be liable for any damages, including any loss that may result from these materials.
only and not to be construed as specific advisory recommendations. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No
representation or implication is being made that the investments referenced here will generate profits or ensure freedom from losses, and past performance is never indicative of future results.
Thank you for following a signal using the SimpleTrader.net Trade
Copier!
This manual will guide you through the process of setting up your MT4 terminal to follow your chosen signal.
To run any of our Signals you need to run your MT4 terminal 24hrs per day with our Receiver EA attached. For this we recommend using a VPS as it is more reliable than a PC.
What is a VPS and why do you need it? Click Here
For the best trading conditions and seamless live support between your VPS and the SimpleTrader copier we recommend you use the SimpleTrader VPS solution.
Advantages of using a SimpleTrader VPS
-
SimpleTrader VPS is a full service VPS service. If you are unable to install our trade copier software yourself we can set everything up for you.-
The latency (time delay) between our trade servers and the SimpleTrader VPS is virtually zero. This results in the fastest trade execution and lowest slippage possible.-
100% uptime since inception. We have never gone offline.-
SimpleTrader account monitoring and rebooting software included is included. If your VPS crashes for any reason or runs out of memory our custom built software will restart your MT4 terminals automatically.Subscribing to a signal
Once you have subscribed to your signal through Paypal. You should receive an email with further instructions. Please check your Spam folder
Login at http://www.simpletrader.net/auth.php
Your signal
Once you are logged in to your Control Panel, you should see your new signal with the message
Signal Requiring Configuration.
Signal Options
Edit Signal
Allows you to edit copier settings such as lot
sizing and slippage values.
Payment Log
Shows history directly from PayPal with your
subscription and payment information.
Transfer Signal
This allows you to transfer your license to
other users already registered on the
SimpleTrader network.
Delete Signal
You can delete the signal from your control
panel. This does not cancel your
Edit Signal
You will now be on the Account Settings page. Note that there are multiple tabs along the top. Account Settings
Risk/Money Management Disable Pair
Currency Mapping Metatrader Account Number – This is the MT4 account number for the account you want
use on your signal.
Broker – Select the Broker of your MT4 account from the dropdown list.
Single Trade – This will limit your account from taking more than one trade per currency
Disable Signal – If you need to stop your account from copying the Signal you can tick
this box. To enable again just remove the tick from the box.
Alert By Email if Signal Disconnects – When ticked, this will generate an email to your
email address if your account is disconnected for any reason.
SMS Alerts – If ticked a SMS will be sent for various notifications. More information on the
types of SMS Alerts and setting up can be found at the end of the manual.
Copy Take Profit – If ticked, it will copy the Take Profit (TP) of the Signal. If not, your
trade will have no TP but will still close if/when the Signal reaches its TP.
Copy Stop Loss - If ticked, it will copy the Stop Loss (SL) of the Signal. If not, your trade
will have no SL but will still close if/when the Signal reaches its SL.
My Notes – This is optional. You can use this section to make any notes about your signalRisk/Money Management Tab
Risk or Money management is an important section to configure but even more important to
understand as it is used to calculate the Trade Size for your account. You need to be sure you
have it set correctly before you commence following a Signal. The controlling settings are
Max Lot – This setting allows you to set the maximum trade size that the copier will
execute on your account. It’s an optional setting and only needed if you are worried about the signal you are following executing large trades unexpectedly. Leave at zero to disable. Money Management - Risk Multiplier is set by default but can be changed to Lot
Multiplier from the dropdown.
Multiplier – This is a value used to increase or decreases the Money Management Methodby a multiple. It is 1 by default. It can be any number, decimal numbers are also valid, for example, 0.5 is used for half risk.
Money Calculator – Use this calculator to confirm trade sizing for the previous 10 tradesWe will explain all options with the use of examples.
Risk Multiplier Using Balance
Risk multiplier considers the balance of the Signal account and your account and works out trade sizes based on a percentage risk. Note Risk Multiplier considers the balances as unit
amounts not by currency therefore if the Signal and your account are different currencies you need factor this in to the calculation.
The maths used for the calculation of Risk Multiplier is:
(Your Balance ÷ Signal Balance) x Multiplier x Signal Lot size = Your Lot Size Examples
Scenario 1
Your balance 2,500 Signal balance 10,000 Multiplier 1 Signal Lot Size 2 Lots
(2,500 ÷ 10,000) x 1 x 2 = 0.50 Your Lot Size
Scenario 2
Your balance 20,000 Signal balance 500 Multiplier 3
Signal Lot Size 0.01 Lots
(20,000 ÷ 500) x 3 x 0.01 = 1.20 Your Lot Size
Scenario 3
Your balance 1,000 Signal balance 20,000 Multiplier 0.4 Signal Lot Size 1 Lots
(1,000 ÷ 20,000) x 0.4 x 1 = 0.02 Your Lot Size
Risk Multiplier Using Account Equity uses a similar calculation, for this setting simply replace “Your balance” with the available equity in your account.
Lot Multiplier
Lot multiplier is a simpler method which ignores the balances of the Signal and your account and just considers the Signal lot size. The multiplier is used to increase or decrease the resulting trade by a multiple.
The maths used for the calculation of Lot Multiplier is:
Scenario 1
Your balance 2,500 Signal balance 10,000 Multiplier 1 Signal Lot Size 2 Lots
1 x 2 = 2.00 Your Lot Size
Scenario 2
Your balance 20,000 Signal balance 500 Multiplier 3
Signal Lot Size 0.01 Lots
3 x 0.01 = 0.03 Your Lot Size
Max Lot and Max % Drawdown
These are optional protective measures. You can chose to not use one or both by entering 0 as a value.
Max Lot – Is a protective ceiling for your accounts trade sizes. Your account will always calculate
its trade size based on the Money Management defined.
If the Signal was to take an abnormally large trade size your account would always try to take the equivalent trade based on the Money Management settings described before. To avoid this you can set a Max Lot value.
For example, if you set Max Lot to 1.00 and your account was sent a trade size of 2 Lots based on the Money Management settings. The slave would open a trade size of 1.00 since it is the largest allowable trade size.
Max % Drawdown Allowed – Is a protective safety net to avoid your account going into an
excessive Drawdown due to the Signal. The Drawdown value is a percentage of the current equity in comparison to the overall balance.
For example, if you had Max Drawdown set to 10 Your current balance is $10,000
You have 2 open trades
EURUSD which is currently -$600 GBPUSD which is currently -$400
The equity of your account will show $9,000
This is a drawdown of 10% as the equity is 90% of the balance (9,000 ÷ 10,000 x 100) = 90%
Our software will recognise that it has passed its Max Allowed Drawdown and it will close the 2 trades automatically on your account. The trade may still be open on the Signal account but your account will ignore them as valid signals.
Disable Pairs Tab
From this tab you have the ability to disable one or multiple pairs for your account account. By disabling a pair if a Signal was for that pair your account ignore the Signal.
To disable 1 pair – click on the pair and it will highlight.
To disable multiple pairs - hold the CTRL button and then click on each pair in turn until you
have them all highlighted.
Currency Mapping Tab
From this tab you can map pairs that differ between brokers. Not all brokers use the same naming for their pairs, especially for Commodities and Indexes.
A common example of this would be Gold. Some brokers quote Gold as 'XUAUSD' while other brokers simply quote it as 'GOLD'.
If you are on a different broker than your Signal, then you need to pay attention to this section as some trades won't copy unless you define the relationship.
In the example above we have defined a mapping of GOLD to XAUUSD.
To do this you simply enter the Signal account pair name in Map box and then the your accounts pair name in the To box and click Update.
You need to navigate back to the Disable Pairs tab and you will see the new mapping listed. You need to repeat the process for every case of a naming mismatch.
Configuration Complete
You have now completed the configuration for your account. You can go through each tab and review your settings. To complete the process click Update on any of the tabs and it will save the current settings. If you click on My Signals:
You will now see your Signal showing with your defined MT4 account number.
At this stage you are not connected as you have no Heartbeat. This is because you still
Receiver EA
Firstly, you need to download the Receiver EA from your SimpleTrader Control Panel. The Receiver EA can be found in the Downloads tab on the left hand side.
You will find a link to Download the SimpleTrader Receiver.
The Zip file contains
Simpletrader-V2.xx.ex4 (where XX is the current version number) Once downloaded and extracted, you need to open your MT4 terminal.
Copy and Paste the contents into your MT4 terminal by following these steps: 1) File/Open Data Folder
4) Copy and paste the SimpleTrader Receiver EA into the experts folder.
5) Now you have the Receiver EA in the correct folders you need to start or restart your MT4 Terminal.
There are 2 important points to understand to ensure your Signal copies
correctly.
1.
You need to add the Receiver EA to 1 CHART ONLY. The EA is for communicationpurposes to our trade servers only. For that reason, it doesn’t matter which chart/pair you choose to add it to. If you add the EA to more than 1 chart on the same MT4 account you
may experience duplicate trades.
2.
To receive signals, the pairs need to be shown in Market Watch (If Market Watch is not showing click View → Market Watch (or CTRL-M).If the pair is not showing in Market Watch the EA does not know it exists and will not take
Adding the Receiver EA to a chart
Watch a video of us upgrading/attaching the receiver EA by clicking here.
Within MT4 open a new chart for any pair, for example EURUSD. In the Navigator window, expand the folder called Expert Advisors. If the Navigator window is not open click View → Navigator (or CTRL-N).
You should see the Receiver EA 'SimpleTrader-V1.XX.X' on the list. Right click on it and click
Attach to chart.
You will now be presented with an Expert Advisor window. There are 2 tabs, Common and
Click on the Inputs Tab. If you are using Receiver EA V1.7 or above you need to enter a UID in the Inputs. Your UID can be found in the Simpletrader Control Panel at the top left corner beside your name.
Once you know your UID, double click the field beside UID and enter the number.
You also have the option to enter up to 5 Magic Numbers for our system to ignore. This option is useful if you run other EAs on the same account as our copier.
Why would I need to use this option?
Every trade generated on our system is given a unique number (known as a magic number) which is applied to the trade. The first trade on the system was 1800 and it has been growing since. This is by design and greatly improves the efficiency of our copier. It also removes the potential for orphaned trades. If your other EAs have a magic number above 1800, our copier could potential close the trade as a closed signal.
You should now have a chart with a display similar to below. Make sure your chart has a Black
background or you will not see the text.
The important thing to see is Subscription Active!
If the Signal has any open trades they will be listed under the headings Trade, Symbol,
Comment, Time (Opened) and Status.
Trade Status
If the Signal has any open trades when you connect for the first time, they will be listed. You may have an Out Of Range message showing in the Status for one or more trades.
You can also check that you are connected OK by returning to your Control Panel and click My
Signals.
You will see your Signal listed and it should have changed from Never to a Heartbeat value
View Activity
In View Activity you have 4 tabs General Information Open Trades
Trade History Analytics
General Information – Is an overview of the MT4 account connected to your signal including
balance, equity and floating profit/loss.
Open Trades – Displays any trades that have been opened by your signal. You will have
information including the signal name, pair, open price etc.
Trade History – Displays a list of past trades and will have similar information to open trades but
Analyitcs
The Analytics Package is an addon feature which gives you access to a lot of useful information that relate to your signal and your brokers performance. This can be very useful for many things including, adjusting risk levels and choosing the best broker to run the signal on.
It costs $29.99 per 6 months. To unlock Analytics Package click on the Unlock Now link and compete the payment process.
Once you have unlocked you will have access to the following information.
Daily Breakdown
Broker execution comparison
Other Signal Options
Transfer Signal
On occasion users may have 2 or more accounts with Simpletrader with different subscriptions under each. This can happen if you use a different email address to your Paypal email address. You can use the Transfer Signal option to move subscriptions between accounts by click in the Transfer button.
Enter the email address of the account you want to send the signal to and click Find. You will get a confirmation that the signal has been sent to the other account and that you have to login and accept the transfer.
Logout of this account and login to the other account. On the left hand side you will have the option for Retrieve/Transfers.
Payment Log
This is a record of your subscription history including signup and payments. You can click on the
Payment Log button to view your history for each signal.
If your Signal status has changed to Expired but you have not cancelled the signal, please check the Payment log, as it may indicate why.
If you see a record SUBSCR_FAILED or SUBSCR_PENDING your Paypal payment has not reached us and you should check with Paypal before contacting our support.
Delete Signal
If you want to cancel your subscription you need to cancel the Pre Approved Payment Profile under your PayPal account first.
Once you do this, the signal will still show under your account but will show Cancelled under Paid.
To remove it completely from view you need first remove the configuration by clicking on the
Trash Can button. You will be prompted to confirm deletion and you need to enter I understand
to confirm.
SMS Alerts
If you would like to receive SMS alerts about your Signal as mentioned in the account settings section, you need to first setup your number on our system and purchase some credit.
SMS Alert can be configured by clicking on SMS Alert along the Left Hand Side. You will initially be presented with a screen to setup your number.
Enter your mobile/cell number in the form and click Add Number.
Once you have your number verified you will have options for what alerts you want to receive. Notification choices
New Trade Open on Signal account Trade Closes on Signal account
Notify when your account Disconnects from the broker
Simply choose Yes or No from the dropdown and click Update Settings.
SMS Credit – You will notice in the image that the SMS balance is zero. You need to purchase
credit to receive SMS Alerts. To do this you need to click on Top Up.
You will be taken to a page were you can select the amount of credit you need and purchase by clicking on the Paypal Button. There are more options for larger amounts of credit at a discount but below is the base price.
Support
If you have any problems using the Signal copier you can contact us at any time either by:
Live Support – We are available 24/7 for Live support. You will find the link to live chat on the
left hand side of any page within the Control Panel.
Ticket support – If you would prefer to send us an email you can click on ticketed support. You
can find the link at the top right corner of every page in the Control Panel.