Connecting to your Own Trading Account
We make connecting ERIC to your own trading account really easy. Here is a basic overview:
Open and fund your own trading account
You open and fund a
Metatrader 4 (MT4) OR Metatrader 5 (MT5) trading account with any reputable forex broker in your name
You can also use a demo account if you prefer so that you get a good understanding of how it all works without risking any money. You can change to a real account whenever you want.
Note: We have been using Pepperstone brokers for a decade and highly recommend them. They are Australian, well established, reliable platform and regulated by Australian authorities. Click here for more information
Once you have purchased this trade copy service you can then add the details of your own account and the ERIC master account so you can copy it's trades.
IMPORTANT: We can help you with this step and even do it for you if you wish. Even though it's relatively easy, it's important to do this properly.
STEP BY STEP GUIDE TO CONNECTING ERIC
You can now connect directly to our Stage 1 MT4 or MT5 master accounts to copy ERIC's trades to your account using the Social Trader Tools service.
Log in to your new account and add your trading account
To do this go to CONFIGURATOR
Then choose ACCOUNTS
The choose +ADD ACCOUNT to add your account first
Complete all of you account details that you broker gave you.
Once you have added your account, you now have to add an ERIC master account so that you can copy it. You can choose and MT4 or MT5 account and details of these are accounts are located here.
All the necessary details for connecting to the current version of ERIC can be found here on the Master Account Details page
When you have done this your Dashboard should like similar to this...
LETS START TRADE COPYING
We now want your account to copy all trades that ERIC master account does. To do that go to CONFIGURATOR/TRADE COPIER
You now need to complete the details similar to below.
Now when you go back to CONFIGURATOR/TRADE COPIER and it will look like this..
It's all set up now to copy to your account but you have to TURN IT ON.
Click that red box and this will pop up
Set it to on and UPDATE
You are now live - just sit back and wait for trades to occur.
OTHER THINGS TO DO
We suggest having a complete, failsafe backstop to protect most of your account in case of some unseen or unpredicted scenario. 80% is a good safe number. Social Trader Tools allows you to do this easily.
Go to MY ACCOUNTS/ ACCOUNT PROTECTION
The above image shows how we are protecting a $5K account. You set it yourself to suit your account size.
Note: Symbols is the term used to describe what you are trading. it could be a currency pair or gold against the US dollar etc
This probably won't be used much but there may be a reason you don't want to trade certain currency pairs. It could be a big news event coming up like a Brexit or election or simply that you don't like trading certain pairs. This system allows you to disable symbols so they wont be traded - even if ERIC trades them.
Just go to MY ACCOUNT/DISABLE SYMBOLS and choose whatever you don't want to trade. It's that simple.
Other things you might want to know
We have NO ACCESS to your money. Only you can add or remove funds from your account and you can do that whenever you want.
This service only has the ability to place and manage trades on your trading account.
Each trade will have it’s own individual stop loss placed for protection but Social Trader Tools gives you extra protection by having a great EQUITY PROTECTION service. There are a few options but we generally recommend to have a total equity protection of, say, 20% of your balance and if this ever gets activated it will close out all trades and stop all future trading. You have full control over this and we will discuss that when we are at this point.
Our systems will automatically adjust trade sizes based on your account balance so you can add or remove funds whenever you want with disrupting the system.