Copy trade from Prorealtime to MT4

• 11/11/2023 at 8:01 PM #223550
  Wim

  GraHal wrote:

  I am still intrigued … why such a strong desire for copy trading?

  It’s typical for the prop firm world. There are prop firms working with “trailing drawdown” constraints. Basically it means that although your available capital grows well over the original account size (e.g. $25.000), you’re not allowed bigger drawdowns  then at the beginning (e.g.$2.500). Impossible to increase your lot size. Lots of traders register for multiple accounts and thanks to copy trading they can trade multiple modest sized trades simultaneously. And in doing so respect the constraints per account. They pay more subscription fees (challenge and/or monthly fees per account), but succeed in harvesting more profit per month.

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  GraHal

  

  Wim

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  11/11/2023 at 8:43 PM #223557
  GraHal

  I understand more now, thanks.

  What % of profits does one typically get to keep if trading for a prop firm?

  I guess you can’t up your position size on your IG Account (you then keep 100% of profits) because you haven’t got the capital required to cover the margin requirements of an increased position size?

  

  GraHal

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  11/14/2023 at 8:39 AM #223685
  Wim

  Return percentages go from about 70% to 90%. Below 70% exists also, but why would you pick such a firm?  The higher percentage being for the “proven” traders.
  And yes, position size has to do with margin obligations AND the risk you’re willing to take (which is modest with prop firms using the trailing drawdown concept).

  

  Wim

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  11/19/2023 at 11:28 AM #223913
  stanpoet

  Sure, I have several strategies that I have backtested, optimised and forward tested on PRT and ctrader. But the best performance is on PRT as the language is very powerful and you can pretty make it do exactly what you envision. I would like to generate capital from prop firms to build up my personal trading account on ig.com. I could copy the trades manually but that would mean I have to sit in front of the computer the whole day and wait for alerts and entry/exit signals.

  

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  11/19/2023 at 1:57 PM #223919
  GraHal

  Looks good!

  You can get a push notification to your phone off the IG Platform every time a trade is opened and / or closed and / or price level reached … would save you sitting in front of the screen!?

  Above might at least get you going on the prop firm challenges to see what the catches are etc?

  Seems the prop firms that set you going with virtual money on a Demo Account do not have trader best interests aligned with prop firm best interests??

  

  GraHal

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  07/05/2024 at 7:11 AM #234806
  Morpheous

  It would be possible I think to interrogate what positions are open using IG’s Rest API https://labs.ig.com/

   

  Then write some code to launch the same position within MT4.

   

  Bit of a hack but I think it would work.  Ideally there would be a way to send a signal out of PRT directly, but I see no way of doing that.

  

  Morpheous

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  07/05/2024 at 7:35 AM #234807
  Morpheous

  failing a decent method of sending signals out of PRT, I suggest making MT4/5 versions of you scripts and running MT4 on a VPS

  

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