❤️ CELEBRATE LOVE!!! 40% OFF Trade Copier & Other Deals – Expires 🚀 Sunday, February 16 ❤️   Click Here

How to Customize Duplicate Account Actions for Your Trading Strategy

Duplicate Account Actions is much more than a basic trade copier. It’s able to handle different types of contracts, adjust trade sizes across accounts, execute one cancels the other (OCO trades, and much more.

A lot of this power comes through customizing Duplicate Account Actions. Here’s how to go about setting it up for your specific needs.

Why Customization Matters

While it’s certainly convenient to click a button and automatically apply a trade across various accounts, you still need to ensure that each trade meets specific risk and strategy parameters for each account. Not all accounts are created equal: you might have different balances, leverage conditions, or different risk tolerance settings across each portfolio you manage.

By customizing Duplicate Account Actions, you can tailor your trade replication process. For instance, you can specify if you want a percentage-based position size in certain accounts or a simple one-to-one duplication of your primary order’s quantity. You can also determine whether to replicate certain order types (like limit orders or stop orders) and exclude others based on the strategy objectives of each account. These are just a few examples of what the various customization options can do.

Step 1: Installation and Basic Configuration

Before customizing anything, you must have Duplicate Account Actions installed and configured within NinjaTrader, TradingView, Tradovate, or Rithmic. Installation and integration are easy with any of these.

Once installed, connect your master account and follower accounts (accounts where your trades are replicated). You’ll also want to make sure the appropriate charts and indicators are readily accessible, which they already should be if you’re using one of these platforms.

At this point, trades entered into your master account should be duplicated as-is into the other accounts.

Step 2: Set Position Sizing Rules

You probably don’t want trades duplicated exactly as they are in your other accounts. Duplicating a large trade in a master account could make other accounts unbalanced and insufficiently diversified, for instance. Replicated trades should be adjusted for account size and possibly for other factors.

The main way to adjust trades is by altering order size. You can easily change position sizes for smaller accounts. Duplicate trades on a one-to-one basis if you want, but you’ll probably instead want to use a percentage-based ratio. A smaller account might take a half, third or quarter position. You can choose any percentage ratio that’s needed.

Step 3: Filter Trade Types

You probably don’t want to duplicate all trades to all accounts. Swing trades might be replicated in a retirement account, while day trades might go to a margin account. You could have different accounts for different types of equities, or only want to replicate select buy or sell orders depending on the situation.

Filtering trade types in Duplicate Account Actions is straightforward. You’ll find options to enable or disable specific order types, whether buy orders, sell orders, limit orders, market orders or others types. Adjust as needed for individual account strategy and risk management.

Step 4: Configure Stop-Loss and Take-Profit Settings

To further customize individual account risk management, you can customize stop-loss and take-profit orders for each follower account. Set looser or tighter boundaries depending on strategy, and use several levels if that’s part of your trading strategy. You can still adjust standing orders when replicating trades with Duplicate Account Actions.

Step 5: Choose Your Mode

Duplicate Account Actions comes with two primary modes. Either can be customized with the above settings.

Executions Mode submits market orders to follower accounts based on actual execution events in the master account. This ensures that positions across all accounts stay perfectly in sync, but can result in both positive and negative slippage, leading to small fill-price differences that affect profit and loss outcomes individually in each account. Most trade copiers don’t have something like this mode.

Orders Mode adjusts, and cancels orders to keep all accounts aligned. Each entry order on the master account creates a corresponding ATM Strategy in follower accounts, giving each account its own independent exit orders. When exit orders are filled on the master account, nothing automatically occurs in follower accounts, and any unfilled orders in follower accounts continue until they’re manually canceled.

Step 6: Setting Alerts and Notifications

You need to be informed of what’s going on in different accounts, but not overwhelmed with a continuous stream of details. Customizing alert and notification settings lets you decide what information you need about order status in follower accounts. You might want to know when duplicated orders are filled or rejected, or other information about them.

For further customization, you can decide whether alerts show only on your desktop PC, or on your phone also. For phone or email alerts, you’ll need to configure your platform settings or use another third-party plugin. Once notifications are being pushed, you can select in Duplicate Account Actions which ones get sent to your email or phone.

Support Should You Need It

These steps are designed to be straightforward, so you can hopefully set up Duplicate Account Actions quickly and easily. Should you ever have questions, however, the customer service team here at Affordable Indicators is always ready to help with technical or non-technical questions. All Affordable Indicators products, including Duplicate Account Actions, come with lifetime support from our team.

Duplicate Trades How You Need To

If you’re an advanced trader with multiple accounts, you undoubtedly need advanced ways to replicate trades — while easily modifying the replicated trades as needed. That’s exactly what Duplicate Account Actions is made for. Learn more about how the tool could streamline your multi-account trading, and get started customizing it for your specific accounts and strategies.

Most Popular NinjaTrader Articles