EightCap CopyTrade Guide

Step 1: Open an account with EightCap using @HandsomeTan referral link
https://join.eightcap.com/visit/?bta=36238&brand=eightcap

Step 2: Create at least 2 MT4 Live account. (We are going to use 1 as a wallet)
Choose
USD
1:500 Leverage
RAW

Step 3: Fund the account.

Step 4: PM @HandsomeTan the email you registered with.
Or your MT4 account number.

He will give you the links to the 3 CopyTrades.
1) Duplicate Capital (Capital $500)
2) DC1K (Captial $1000)
3) Handsome Profits (Capital $200) (Yes, this is back! My Manual trades)

Step 5: Click the link of the CopyTrade you want to copy.
Log in with your MT4 account number and PW.
Click copy.

Step 6: Recommended settings to select:
Proportion by Balance.
100% Copy percentage
100 Max Click Quantity
Market Order

Read and agree to the terms.
And you're all set!

Reasons for recommendations:

Step 2: Open 1 live account to act as wallet:
1) When you withdraw to take profit during the weekends, it might take 1-3 business days, during which, it might affect the trading on Monday if it took longer than that.
2) If you have more than one account for CopyTrade etc, you can use this account to consolidate all the profits before Withdrawing out at one shot.

Step 5: It is recommended to use one account to follow one CopyTrade.
1) Else when both accounts have big Drawdown, your account might not have enough Margin and will have trades cut, but Both Master accounts still trading.
If you really want, then I'll suggest you copy both via Volume and fund a combination of both capital.
Example you want to copy DC and HP in one account, copy both in proportion of volume, and have a total capital of $700. (DC $500, HP $200)
2) If you copy 2 CopyTrade in one account, Profit Sharing will be hard to calculate. (I'll be bringing this point up for the staff to consider)

Step 6:
Proportion by volume have been explained above on the use of it.
(Continued at next post)

Proportion by equity, is by running funds(floating)
Assuming both Master and follower start with $500 Capital.
Eg. if got slippage, Master opened sell at 1888.80 follower might open at 1888.90

If it's going up, Master negative, your account negative will be smaller or bigger. Depending on the slippages to whose advantage.

If overall your negative is bigger, eg Master account equity is 450, and your account left 400, when Master opens 0.1 lot, yours might open only 0.09 lot.

If overall your negative is smaller,
Master opens 0.1 lot, yours opens 0.12 lot.
If it recovers, your profits will be more.
But if it still goes down, your losses will start to be more than Master account.

If Master decide to open another layer, say 0.15, your account might just open 0.1 lot because your equity is lower than Master now.
When it recovers, Master account base on the 0.15 lot, can achieve overall profit, but because yours opened only 0.1 lot, your overall profit will be lesser, or even in negative.

Proportion by balance. It takes the starting funds as the benchmark.
If both Master and follower starts with 500, all the lot size will be the same regardless of slippage and equity.
If follower capital is 4 times more than Master before any opened trades, the lot size will be 4 times more throughout.

If your funds is going to be the same as Master, 500. Both equity and balance don't make much of a difference.

But if your capital is going to be a lot bigger, say 5k, my advice is follow by balance.

I copy myself with 2k by equity, can see the difference.
Starting lot size 0.01, all same. When it comes to the 5th layer onwards, there's a difference in lot size opened.

Copy Percentage recommended 100% to copy x1 to Master.
If you put 400%, it will copy x4 which will increase your risk.

Max click Quantity is lot size.
I recommend 100, so it won't limit if your capital to copy is huge against Master.
Same logic when you copy by proportion, Master ($500) open 0.1 lot, your $50k account will open 10 lots.
If Master opens a 0.2 lot layer, your account will open 20 lots.

If you set Max Click to 10, the max lot size you'll open is only 10 lots.
When it recovers, Master account base on the 0.2 lot, can achieve overall profit, but because yours opened only 10 lot, and not 20 lot, your overall profit will be lesser, or even in negative.

Market Order
Opens position same time with slippage. Orders will be slightly different due to slippage.
Setting to limit, it'll only open if the same price touches again.
If the trend is strong, and the price never goes back to same price, follower will have a missed trade.

Duplicate Capital
16th May
Profit $14.72 = 2.9%

DC1K
Profit $14.78 = 1.4%

https://t.me/DuplicateCapital

Duplicate Capital
17th May
Profit $10.45 = 2.09%

DC1K
$10.45 = 1.05%

Thanks for the support to those who have started copying.
Currently it's FREE to copy, NO Profit Sharing!

Those who are interested to copy, join channel for instructions.
https://t.me/DuplicateCapital

Usually it will cut loss layer by layer.
But when I woke up this morning and saw the gap, it has closed all the trades.

Until they solve this negative balance, there won't be any trading.
I'll update again when trading resumes.

EightCap have got Negative Balance protection.
Minimally they will cover this balance.
I'll be emailing them about the gap issue causing all positions to close at the same time. Hopefully we could get some amount back.

Meanwhile, plan for future is to reduce the trading hours and stop at 6pm.
If there's any open positions, I'll monitor them personally and close them before I sleep.
No more overnight and running into US Sessions.

Please feel free to comment if you have any suggestions.

DC1K
Manual close all.
Not a good day for UK today.

DC and DC1K no trades for this week.

I'll be back after I do some thinking.
To input SL, need to calculate.

Handsome Profits
24th May
Profit $10.22 = 5.11%

This is my Manual CopyTrade. Capital $200.
I think I still trust my own trading.
S&R, 200MA, follow trend.

While they sort out our accounts for DC, if you still trust in me, you can copy my manual trades at Handsome Profits.
One shot one kill. Tight SL.

For DC, I did some thinking, I'll update more tmr.

Hi guys, sorry for the missing updates, I have been busy with work.
I'm back into trading, and doing self trading currently before opening up for Copytrade.

You can follow me at https://t.me/HandsomeProfits
(This will be used for Copytrade channel)

Or my main channel
https://t.me/CopyHandsome

I'll be closing this channel for better housekeeping.
Hope to be able to Huat with everyone again!