CopyPip User Guide
1. Go to www.copypip.com and click Login.
2. Enter your login details.
If you don’t have an account and wish to open one, refer to our Guide to Opening a CopyPip Account.
3. Once logged in, click on Trading Terminal, Statements or Portfolio.
4. Click on Virtual Tour to access a detailed explanation of the available functions on the CopyPip platform.
5. Under Strategies, you will be able to see all the available strategies ranked based on:
• Age: Length of time the trading strategy has been running
• Growth: Growth of the trading strategy since inception
• Avg per month: Returns on average per month
• Total pips: Number of pips the strategy has earned since inception
• Max drawdown: The strategy’s maximum loss from a peak to a trough, before a new peak is reached
• DD recovery period: Time taken for the strategy to recover from its drawdown
• Recommended minimum: Recommended capital to have before following the strategy provider
• Profitability: Number of winning trades divided by the number of losing trades as a percentage
6. Add a trading strategy to your portfolio by connecting your account to the strategy.
This will allow you to copy their trades. To do so, click + Add to Portfolio.
7. Select your trading account. Choose between your demo account or Live account.
If you don’t have a Live account and wish to open one, refer to our Guide to Opening a CopyPip Account.
8. Customise your copying settings. Choose one of the four options that best suit you.
For new users, we recommend choosing Automatic settings adjustment.
The 4 customised settings include:
• Automatic settings adjustment: This option automatically selects the most favourable settings for your trading strategy based on current account usage and available funds. To use this option effectively, we recommend applying it to all the trading strategies that you follow.
• Percentage of the total balance: This option allows you to enter the percentage of the total balance you want to allocate to the strategy.
For example, if you enter 10%, this means that 10% of your balance/funds will be used.
The trade lot size will be calculated automatically according to the strategy provider’s trade size. For example, the absolute value of your balance (according to the set percentage of the total balance) is 1,000 USD, while the balance of the strategy provider is 3,000 USD. In this case, our trading server will execute a trade in your account that is three times smaller in size.
You can also set a value of more than 100% depending on your risk tolerance. If you have a balance of 10,000 USD, and you set a value of 150%, the absolute value of your balance will be 15,000 USD. And given that the balance of the strategy provider is 3,000 USD, you will trade five times larger than the strategy provider’s lot size.
• Fixed trade size: This option allows you to trade a fixed lot size no matter the lot size your strategy provider trades.
For example, if you enter 0.10, this means that the trading server will always execute trades of a fixed lot size of 0.1 lot. However, if your strategy provider works with a dynamic/floating lot size, your trading results may differ. We recommend using this option only if you can see two increasing parallel lines on the chart Percent vs. Pips on the trading strategy statistics page.
• Proportional trade size: This option allows you to set up a dynamic and proportional trade size coefficient in percentage relation. For example, if you want to open a position five times smaller than the strategy provider, you can input 0.20.
So, if the strategy provider opens a 0.1 lot trade, you will only open 1/5 of that position, which results in 0.02 lots traded. You can also set a value more than 1. For example, if you want to open a position five times larger, input 5.
9. Based on the setting and numbers you key in, you will be able to see your average trade size, the recommended minimum funds required, your current account balance, usage and free/available funds.
10. Under Advanced Settings, you will see several available options.
• Lot Min: This option sets the minimum trade size to be executed in your account under this strategy provider.
If you input 0.50, the trading server will place trades with a minimum size of 0.5 lot even if your provider trades at 0.01 lot.
We recommend setting it at 0.01.
• Lot Max: This option sets the maximum trade size to be executed in your account under this strategy provider.
If you input 2.00, the trading server will place trades with a maximum of 2.0 lot. This option protects your account from unwanted risks in case your strategy provider opens over leverage.
• Fixed Stop Loss: This option allows for the additional protection of your account. Your fixed stop loss takes priority when it is smaller than the stop loss of your strategy provider. When the stop loss of your strategy provider is smaller than your fixed stop loss, then the stop loss of the strategy provider will take priority.
For example, if you set a fixed stop loss at 40 pips and your strategy provider sets a trade with a stop loss at 50 pips, your trade will close when it hits 40 pips loss as your fixed stop-loss takes priority. Conversely, if you set a fixed stop loss at 40 pips and your strategy provider sets a trade with a stop loss of 30 pips, your trade will close when it hits 30 pips loss.
Note: This option may disrupt the original trading strategy and result in different profitability.
• Fixed Take Profit: The fixed take profit acts as an additional protection for your profits.
For example, if you set a fixed take profit at 80 pips and your strategy provider sets a trade with take profit at 100 pips, your trade will close when it hits 80 pips profit as the fixed take profit takes priority.
If you set a fixed take profit at 80 pips and your strategy provider sets a trade with take profit at 60 pips, your trade will close when it hits 60 pips profit since it is within the fixed take profit limit. Note: This option may disrupt the original trading strategy and result in different profitability.
• Forced Exit & Stop: This option allows forcible closure of all trades of the given trading system if the account equity becomes lower than the value specified in the field. This serves to protect your account.
For example, if you input 1,000 USD into the forced exit and stop, all trades will close, and you will stop following the provider once your equity (taking into account floating trades) hits 1,000 USD or less.
• Worst Deviation: This option allows you to follow the trade execution of the provider at a better or worse price based on the number of pips you input into the parameter.
For example, if you input 10 pips, this means that the maximum worst deviation of trade executed will be 10 pips worse.
The reason for this is to prevent slippage. For example, you follow the strategy provider’s gold short trade at 1300, but you might only enter a trade at 1298 due to your orders not being able to be filled. With this option, it allows you to only enter at 1299 and nothing else.
If you input a negative value, such as -10 pips, then the position opened in your account will be 10 pips better.
So, using gold as the same example, if your strategy provider enters a trade at 1300, you will only enter if price goes up to 1301. However, do note that this could mean that you might miss trades if there is no better price on the market.
• Copy Opened Trades and Pending Orders: By selecting this option, you will be able to open existing and pending trades at a recommended better price, or copy all trades and pending trades as they are.
If you choose copy only opened trades at better price, it means that once you follow a strategy provider, your account will only open the existing trades when price returns to near the opening price.
If you choose copy all open trades and pending orders “as is”, it means that once you follow a strategy provider, your account will open all the existing trades at whatever price it is.
Note: Choosing this option may result in more losses, as the entry price of your trades may be different from the original trades taken by the strategy provider.
• Limit Quantity of Simultaneous Trades: By selecting this option, you will be able to limit the number of trades taken at any time either by number of trades or by level of equity. Selecting number of trades will disallow the opening of new trades/pending order if the current amount of trades exceeds the parameter you’ve entered.
For example, if you input 10 trades, this means that you will only have a maximum of 10 trades running at any point in time.
Selecting level of equity disallows the opening of new trades if the current equity in your account is less than the set amount. For example, if you set it at 1,000 USD, this means that no additional trades will be opened if the balance in your account used to follow the strategy provider falls to or below 1,000 USD.
• Inversed Trading: This option allows you to reverse all trades taken by the strategy provider you are following.
For example, if the strategy provider goes for a SELL, your account will go for a BUY.
This function is used if you deem the strategy provider to be unprofitable.
Note: Choosing this option will result in losses when the supposedly unprofitable strategy provider turns profitable.
11. Once you’ve decided on your preferred settings, click Save to add the trading strategy to your portfolio.
12. Click on Trading Terminal to monitor currently opened trades and your account status in real time.
You can open or close trades from this page and log in to the MT4 account that you have connected to the CopyPip platform to monitor trades from there (this only works for Live accounts).
Note: There is a 1 pip commission charged for each trade taken in the CopyPip MT4 account, including trades that you have manually entered.
13. To see the trading history of your account, click on Statements. You can filter it by provider to see the different statistics.
14. To change the settings for the individual providers, stop copying trades or remove strategies from your portfolio, click on Portfolio.
1) Stop: Selecting this option will completely stop the sending of trading signals and copying of trades.
If there are trades opened on your account, you will have to manage them yourself.
2) Pause: Enabling this option will result in our platform managing already opened trades, but it will not copy (open) new trades.
3) Run: This option allows you to run a trading strategy that was previously stopped.
4) Modify: This option allows you to change the settings when copying a trading strategy.
5) Delete: This option allows you to stop sending trading signals, disable copying and remove a trading strategy from a portfolio.
1) Recommended balance: This informs you of the recommended amount of funds to have on an account balance to maintain a portfolio of selected strategies.
2) MMC: This shows the portfolio share of every strategy. It is advised to keep its value at a level of up to 100%.
3) AMU: This shows the average leverage (percentage of margin) used for copying every strategy. It allows you to determine potential risk. It is advised to keep its value at the level of up to 7-10%. The risk is considered high if the value exceeds 15%.
15. Should you have any questions or suggestions, you may contact us via the Support section.