As strategy followers (SFs), we must always be attentive when tuning our settings to follow SPs' accounts. In the settings, there is one function that is often overlooked or not selected, and that is “Copy Opened Trades and Pending Orders”. Many people will question,” why would I even choose this function when it gives me no advantage in trading position?”

In today's article, we will share with you how to use this function and get better profits!

As the name implies, how it works is that it allows you to open active trades at your current price, as well as allows you to copy pending orders.

There are 2 cases of usage:

  1. If SP's trades are positive, it means that your entry point will not be well-positioned, and you will have some small profits if you hit your target price (TP) and lose big if you hit stop loss (SL).
  2. If SP's trades are negative, it means that your entry is in a better position, and thus you can have a large profit if the trade hit TP, and have a smaller loss if the trade hit SL.

This is a common understanding that shows the different scenarios.

So the question is, is it possible to apply this method to these SPs using the Price Average Method? The answer is yes.

(Please read the article on how to identify SP using the Price Average Method)

For those strategy providers who use the Price Average Method, this function also helps the SFs to have a better price advantage.

So how to determine whether SP is Equity positive or negative?

You can easily determine this in the Performance Charts section, choosing VAMI Balance / Equity / Leverage.


In this chart, you can see the VAMI Balance line in black, and the VAMI equity line in orange. When you see the orange line below the black line, equity is negative, and vice versa.

Steps before using the “Copy Opened Trades and Pending Orders” function:

  1. Determine the SP's trading method (SL-TP or Average Price)
  2. Identify SPs with Equity negative
  3. Click on the function box “Copy Opened Trades and Pending Orders”.

Lastly, do take note that this method is not foolproof and comes with a risk that the SP might be holding huge losses and is not willing to close the trade, hoping that the trade will return to positive. Therefore, you must set a safety net to protect your capital.

 

New call-to-action

 

Fullerton Markets Research Team

Your Committed Trading Partner