Popular Forex Trade Copier Software For MetaTrader 4 Gets New Update

Rimantas Petrauskas, author of the Local Trade Copier, has released version 2.7 of that software. This version offers several new features as well as some GUI changes to make the software easier to use and some bug fixes to take care of leftover issues.

Trade copier is a kind of software that allows one person to copy some or all of the trading positions of another. Sources say it is a useful way for someone who has less experience in trading to learn from the direct practice of those with more experience.

Petrauskas explains, "It is popular for new traders to start off by reading some tutorials and literature about the forex market and trading in general. However, many of them find that this theoretical knowledge is not enough to prepare them for trading on their own." That is why many of them are turning to trade copying tools. This software lets them see what expert traders choose to do, what positions they open, how much they invest, and when they make their moves. This direct insight is a teaching tool which more traders are using to gain practical experience.

Local Trade Copier has been a popular product in the trade copying space, and the newest version adds a number of features that should interest long-term users and attract new ones. First, version 2.7 adds a tool that will automatically close out all open positions and stop trading once either open profits or open and closed profits reach a certain level. This is sometimes called a stop-gain order. "If the trader has a certain goal for the day, they can set that goal using this tool and then exit trades to preserve profit", says Petrauskas.

Other new features include more advanced controls for setting up and defining filters and the capacity to add multiple criteria to trade comments. Petrauskas states that the new Local Trade Copier can now also automatically copy all of the open positions of the master account, allowing the client to "catch up" to any open positions that it had not taken before.

The software also has a new way to overcome a long-standing issue in forex trades: symbols. Petrauskas explains, "Having hidden symbols can prevent a client account from properly executing a master account's trades. This is because the client account is unable to "see" the symbol and copy it, making the position order meaningless". However, a recent change to MT4 has made it possible to alter the status of hidden symbols. Local Trade Copier incorporates this by attempting to unhide symbols anytime a trade does not go through. This will avoid many of the problems where trades did not go through due to hidden symbols.

Rimantas Petrauskas, the developer, states that he plans to continue to improve the GUI for LTC in the coming versions, making that one of his primary goals for the software. "My goal is to make multiple forex account management accessible and relatively easy even for beginner retail traders", says Petrauskas.

Contact Info:
Name: Rimantas Petrauskas
Email: Send Email
Organization: EA-Coder.com
Address: Vilniaus 53, Ziezmariai, Lithuania
Website: https://www.mt4copier.com

Release ID: 95461