Introduction
Trading robots have become a staple in the world of forex trading, with the Copy Master MT4 being one of the notable contenders. This guide will walk you through installing and setting up the Copy Master MT4 trading robot for maximum efficiency, sharing our experience and offering practical tips for improving its performance.
Installation and Setup
Setting up the Copy Master MT4 trading robot is straightforward, but let's break it down into clear steps for you.
Prerequisites:
- A PC with MetaTrader 4 installed.
- An active forex trading account.
- A stable internet connection.
Step-by-Step Guide:
1. Download the Copy Master MT4:
Go to Forex Robot Easy and download the Copy Master MT4 trading robot.
2. Install the EA File:
Place the downloaded EA file into the 'Experts' folder in your MetaTrader 4 directory. Typically, the path is something like `C:\Program Files\MetaTrader 4\MQL4\Experts`. Restart MetaTrader 4 after placing the file.
3. Add Copy Master MT4 to Chart:
Open MetaTrader 4, go to the 'Navigator' panel, and find 'Expert Advisors'. Drag and drop the Copy Master MT4 onto the chart of the currency pair you intend to trade.
4. Configure Settings:
A settings window will pop up. Adjust the settings according to your risk tolerance and strategy. Make sure that Allow live trading is checked.
5. Enable Auto Trading:
Ensure that the 'Auto Trading' button on the top of MetaTrader 4 is activated.
6. Repeat for Other Pairs:
(In response to Alejandro González) If you want to copy multiple pairs, you need to repeat the process for each pair, setting up charts on both the master and slave accounts.
Usage Experience
As someone who's seen more trading robots than I care to count, I approached Copy Master MT4 with skepticism. However, it does deliver on its promise to streamline the trading process. User feedback has generally been positive, with comments like Great, works well
from Aller Uja and Powerful tool will always recommend to everyone from Francis Arinze.Still, like any trading robot, it requires monitoring and occasional tweaks. Blindly trusting it is not an option if you value your account balance.
Tips for Improving Performance
A robot is only as good as its settings and the market conditions. Here are some tips to extract maximum performance:
Optimize Settings Regularly:
Market conditions change, and so should your robot's settings. Regularly backtest and adjust parameters to suit the current market.
Monitor Performance:
It's tempting to set it and forget it, but you should periodically check the performance and intervene if things go south.
Run on a VPS:
To ensure uninterrupted performance, consider running your MetaTrader 4 on a Virtual Private Server (VPS), as Taylant Godeci mentioned in his comment.
Diversify Pairs:
Don't put all your eggs in one basket. Use the robot on multiple currency pairs to spread risk.
Source Code of Copy Master MT4
Let's be transparent here: we don't know the original source code of the trading robot sold on MQL5. However, based on the descriptions and user feedback on MQL5, we've constructed a version of the robot that mimics its functionalities.
If you have questions or need custom tweaks to the code, feel free to ask. Just remember, our version is a re-creation, not the original.
Code:
You don't have permission to view the code content. Log in or register now.Download Copy Master MT4 for Optimal Trading Experience
Ready to enhance your trading game? Visit Forex Robot Easy's Copy Master MT4 Page to get your hands on the trading robot. Remember, this code example is provided by easytradingforum.com and is based on publicly available descriptions. We at EASY Trading Team are not selling the robot but have created this version for educational purposes.
So, there you have it. An overview, installation guide, practical tips, and more. If you think you can surprise me, try your best, but I doubt it. Happy trading.