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Hi all BK traders I wanted to put together my thoughts on how I am trading my Master day trading account which you are all welcome to follow. I actually follow it myself with my other account so in this article I’ll try to explain both the structure of the master account and the various options for traders who want to have the trades copied directly to their account.
Here is the short version.
1. You need to have an annual membership
2. You need to have an MT4 account
3. Once you have done 1 and 2 email [email protected] and we will send you special links to sign up with www.4xsolutions.com
TRADE COPIER ACCOUNTS REAL TIME RECORD
1. Who is eligible for Trade Copy Services?
Trade Copy services are available to any BK annual subscriber. You MUST be an annual member. That is the only rule. There are no additional fees that BK charges on top of the annual membership. The BK annual membership for those of you who do not have it, is a very good deal. The annual rate comes to about $100/month versus $175 regular monthly charge which is almost 50% savings. In addition, if you upgrade to an annual, I’ll refund your last month’s payment giving you 13 months for price of 12, so the savings are even greater. Here is the discount link for annual membership -- http://trading.bkforex.com/annual/
2. Are there any other fees?
BK does not charge any fees beyond the annual membership but our technology provider 4xsolutions.com charges a monthly fee (between 20-28 depending on your currency). This is a fee that everyone pays including BK itself as 4xsolutions is the one responsible for providing the actual trade copy service.
3. What kind of an account do I need?
All you need is an MT4 account with any broker. The service will work with any broker you choose. We recommend that you trade with FXCM raw spread account since that is what the master is on and you will get the best fidelity in execution that way. If you can’t or won’t use FXCM, IC Market or ThinkForex, Pepperstone or any of raw spread brokers are good alternatives. But we personally do not care who you use as all MT4 accounts will work.
4. Is there someone who can help with account/broker selection?
Yes. Our colleague Justin Hertzberg email@example.com is an expert at selecting the best broker for you. Email him for consultation.
5. How can I get paid on every trade I make?
Justin has relationships with almost all the trustworthy brokers in the world and can arrange so that you can get a rebate on every trade you make. Often than money is directly deposited to your account at the end of the month and can add up to as much as 1% additional return/month. This service is totally free as part of your BK experience with us.
6. How will I sign up for Trade Copier?
Once you become an annual -- please email us and tell us you want to Copy Trade. We will send you a special link to connect to our master account. Justin or the chat at www.4xsolutions.com would be glad to walk you through the process. It takes less than 10 minutes to set up.
7. Can I disconnect/change stops/exit early from all your trades?
Yes. Just like an option the Trade Copier gives you the right but NOT the obligation to follow the trades. You can terminate anytime and you can also set an automatic cut off point at X% loss, so that you account would not take any additional trades if that point was breached. Ask 4xsolutions chat for further direction on that matter.
8. What strategies are you trading in the trade copier accounts?
We are trading a trend strategy called Boomer.Pullback and a counter trend strategy called Boomer.Stall (the Boris variation). The rules for these as well as other BK strategies can be downloaded here.
9. What is the difference between the Green and the Red Master accounts?
The Green Master Account is the conservative account where I will be taking only the highest possibility trades and will very often exit early to lock in profits and minimize losses. That effectively means I will only be taking Boomer.Pullback and Boomer.Stall xx33’s in the Green account. The number of trades will be considerably less.
The Red Account will be much more aggressive in its scope. I will take the full range of Boomer.Pullback and Boomer.Stall trades including the short xx33’s some short xx83s and long xx62s for a variety of pairs. I will also trade Boomer.Pullback for USDCAD which we otherwise do not trade. Finally, I will occasionally trade Boomer.News when I think that it is merited. Almost all Red Master trades will either go to Take Profit or Stop.
The Red Account will be very risky, will sustain stops -- sometimes two or three per day -- and therefore should be traded on low leverage and at your own discretion.
NOTE -- COPY TRADING IS A HIGH-RISK VENTURE. The rule is
“IF YOU TRY IT DON’T CRY ABOUT IT”.
Both Master Accounts Trade 0.01 size
As always lever factors are up to you, but my own accounts will be traded at 1 times equity (i.e. 10,000 units per trade for every $10,000 in my account) for both Master accounts. What does that mean practically in how I set my 4xsolutions lever factor?
That means that assuming each one of my copy accounts is $10,000 my 4xsolutions multiplier will be 1000%.
You can choose whatever lever you like, but I offer this as an example of what I am doing myself.
NOTE that You can ONLY CHOOSE MIRROR MASTER LOTS and then multiply the size amount as you see fit. All those decisions are strictly up to you. PLEASE NOTE THAT WE MAKE TRADE COPIER SERVICE AVAILABLE TO YOU ON AN “AS IS BASIS” AND YOU TAKE FULL RESPONSIBILITY FOR ANY LOSSES INCURRED BY FOLLOWING IT.