Copy Trade by Dan Cheung

The speaker stresses the inherent risk of copy trading, sharing a personal mistake that cost him $15,000 across two funded accounts:

The Issue: A trade closed successfully on the master account but failed to close on a slave (copied) account, leading to large losses when the trade kept running overnight.
The Lesson: Always keep the copy trading dashboard open and manually check the slave accounts daily to edit or close any trades immediately if a sync error occurs.

The speaker uses a service called Social Trader Tools to connect all his accounts to a central hub.

It makes managing a large number of accounts less overwhelming.
It provides a single view of total P&L. For example, a $7,000 loss on one account becomes a $21,000 loss when copied to three accounts, giving a clearer overall picture of risk exposure.
The system works the opposite way for wins: a $7,000 profit on the master account would yield $21,000 across three slave accounts.

Account Management: Add accounts by entering the broker, account, and password details.
Trade Copier Configuration:
- Master Account: Select the main trading account that all others will copy.
- Emulation/Scaling: Copying should be done by balance or by equity.
- Lot Multiplier: Use a lot multiplier of 1, or increase/decrease it as needed. Fixed lot sizes can also be set for specific accounts.
- Symbol Mapping: This is critical because brokers use different names for the same instrument (e.g., GR40 Cash on one broker vs. GR40 on another, or Gold as XAUUSD vs. X.XAUUSD).You must manually create a map to ensure the copier knows what to open on the slave account when the master account executes a trade.
- Max Lot Sizes: Update the max lot sizes for high-volume instruments (like indices or gold) to ensure the master lot size can be copied accurately by the slave account. Once configured, the trader turns the copier on, and any trade taken on the master account will be automatically executed on the slave accounts.