simple mt5 trade copier – EA MetaTrader 5

The EA is based on several key trading and technical concepts:

  1. Trade Copying/Mirror Trading Concept:
  • The fundamental idea is to replicate trading activity from one account (Master) to another account (Slave)
  • This is useful for:
    • Fund managers managing multiple client accounts
    • Traders wanting to run same strategy across different brokers
    • Risk distribution across different brokers
  1. Account Architecture:
  • Two-tier system:
    • Master Account: Original source of trades
    • Slave Account(s): Copies/mirrors the master’s positions
  • Uses a file-based communication system between master and slave instances
  1. Technical Implementation Methods:
  • Binary File Communication:
    • Master writes position data to a binary file
    • Slave reads this file to sync positions
    • Uses common folder access for inter-terminal communication
    • Faster and more efficient than text-based methods
  1. Position Management:
  • Real-time position tracking
  • Maintains three key aspects:
    • Open positions replication
    • Stop loss/Take profit synchronization
    • Position closure synchronization
  1. Symbol Mapping:
  • Handles different symbol names across brokers
  • For example:
    • XAUUSD.ecn on one broker might be GOLD on another
    • Allows flexible symbol mapping for different broker conventions
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  1. Risk Management Principles:
  • Maintains exact position sizes
  • Preserves stop loss and take profit levels
  • Ensures synchronized risk management across accounts
  1. Operational Features:
  • Regular polling (every 50ms) to check for changes
  • Bi-directional verification:
    • Checks for new positions to copy
    • Verifies existing positions are still valid
    • Closes positions that no longer exist on master
  1. Error Handling and Recovery:
  • Manages common trading issues:
    • Failed order execution
    • Communication failures
    • Symbol availability issues
    • Price differences between brokers

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