In the world of forex online trading, it is not unusual for people to use trade copying to mimic the results of some professional traders. However, there is another way which is generally faster than copying every single trade a pro makes: account copying. With an account copier, an amateur user can copy an entire account of a professional, not just a trade. Some professionals seek to make an even greater profit by selling the signals of their accounts and trades to others, but waiting for each trade and each signal to appear in order to sell can be very time consuming. Because of this problem, a trader, especially if they are on MetaTrader4, can reap many benefits by using a MT4 copier.
Time-Saving and Flexible
Not everyone can stay up 24 hours, seven days a week, to ensure they don’t miss a trading signal. Even if they spend all day watching for signals of certain trades, it doesn’t leave much time for anything else. This is where a copier comes in. It monitors the signals of specific accounts that you have chosen and copies those trades so you don’t have to wait on them, saving you stress and time. In addition, a trader is not stuck copying the trades of only one account but can copy multiple accounts all at once, provided there is enough equity for it. This capability generates flexibility for the user because they don’t have to stick with one specific strategy nor are they tied to their computers all day.
If you have a greater equity than the signal provider, an account copier allows you to multiply the amount of the lot purchased. If your multiplier is 10, then you will buy 10 times more than the account you are copying. Conversely, if you have less than the signal provider, you can adjust the multiplier down to buy only a fraction of what the professional account is buying. All you have to do is setup the MT4 copier to do it and it will run on its own, making decisions and trades for you while you are sleeping.
If you’re thinking of getting into forex trading, or you’re already involved, but don’t want to wait around to copy every single trade a professional account makes, then you should seriously consider account copying. However, even with all of these great options and the ability to diversify, this method is no guarantee you will make money or have a profit.