Pro Trade Copycat Review, Bonuses,Discount and Free Downloads

I have been receiving requests from my readers to review the Pro Trade Copycat, a forex trading software that was launched sometimes in march 2011.

 

I requested my readers to email me all relevant questions regarding Pro Trade Copycat so that I can send them to David Henderson (the author of Pro Trade Copycat). He responded with answers and I’ll list the response toward the end of this post.

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David also gave me a backend access of the members area and a limited access to two of my readers to test the system. I took the liberty of capturing some screen shots to use a s proof of access.

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As you can see the members area has loads of resources.

• Product:    Pro Trade Spread Observer
  Version:    1.00
  Released:    2011-03-12 16:35:29
  Product:    Pro Trade CopyCat 

  Product:    Pro Trade CopyCat
  Version:    1.00
  Released:    2011-03-12 16:34:53

• Pro Trade CopyCat Wireless:
  PTCC Wireless is an EA copier that trades using the same signals that our APP delivers through the ‘signals update’ page, so you can enjoy the same same service without the need to manually place the trades, Pro Trade CopyCat Wireless will simply do this work for you.

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• Pro Trade Executive:
  Pro Trade Executive is a manual trading system which uses three special indicators that provide signals advising you when to place a trade. It features a trailing stop-loss and trades on all major currency pairs. 

  Pro Trade Swiper Deluxe:
  Pro Trade Swiper Deluxe is an EA which has a patient trading strategy. It’s full focus is on the more profitable trades thus reducing the risk of making losses. This product is specific to EUR/USD currency pairs.

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Here is a list of answers as responded by David of Pro trade Copycat

What exactly is Forex?
The Foreign Exchange market, also referred to as the “Forex” market is the most traded financial market in the word with a value of approximately $3.98 trillion. It is the simultaneous buying of one currency and selling of another. The world’s currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.

When is the Forex market open for trading?
A true 24-hour market from Sunday 10:00 PM GMT to Friday 10:00 PM GMT. Unlike any other financial market, investors can respond to currency fluctuations at the time they occur – day or night.

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What are the most commonly traded currencies?
Over 85% of all daily transactions involve trading of the major currencies, which include the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), British Pound (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), and the Australian Dollar (AUD).

Is Forex trading expensive?
Depending on your broker you can trade Forex with a deposit as less as $100. Amazingly Forex allows customers to execute margin trades at up to 200:1 leverage (again this depends on your broker). This means that investors can execute trades of $10,000 with an initial margin requirement of $50.

What is margin?
It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. Basically it allows you to use very small amounts of money to trade very large amounts.

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What tools do I need to begin trading Forex?
A computer with an internet connection (or a Virtual Private Server for remote trading). It’s that simple!

What trading software do I need?
You simply need to download and install MetaTrader 4 and you’re good to go!

Do I have to execute the trades myself?
For Pro Trade Copycat and Pro Trade Executive you receive trading signals therefore you would need to manually enter them yourself. Pro Trade Wireless and Pro Trade Swiper Deluxe are automated systems which will automatically trade for you.

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Do you provide video tutorials?
Absolutely. Easy to follow, step by step video tutorials are provided for all our products to assist you with understanding and installing the software, in addition to installation manuals.

Do I need to any technical knowledge at all to use this?
This is one of the easiest things you’ll ever do as long as you’re capable of clicking a mouse and downloading a file.

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Can you guarantee me this will make me money?
I can’t give you an explicit guarantee as this illegal however by giving you an unheard of 71 DAY no questions asked refund policy shows exactly how confident I am.

Do I need to leave my computer turned on all the time in order for the software to work?
Your computer will need to be turned on unless you use a VPS.

What is a VPS?
A VPS (Virtual Private Server) can host your trading on a remote server so you don’t need to constantly keep your computer running.

What is an EA?
An EA is a robot which written using the ML-4 language and designed to work on the Metatrader 4 platform. This software can be programmed to notify you when there is an opportunity to trade in the forex market or carry out the trade automatically for you.
What type of customer support will I receive?
We understand how incredibly frustrating it can be to receive bad support so we have gone the extra mile by providing a fully trained dedicated support team 5-7 strong, who will be dealing with all support issues 24/7 via email.

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What time frame chart is it applied to?

Pro Trade Wireless: You can attach the EA copier to ANY chart with any timeframe as long as you make sure that you’ve attached it to one chart only, even though Pro Trade Wireless will copy all of our trades.

Pro Trade Swiper Deluxe: Works on EUR/USD using the 1hour chart

Pro Trade Executive: We recommend that you use Pro Trade Executive with all major Forex pairs on 1H charts, though we have customers who use this system on 4H, and Daily charts who all reported great results so it’s very individual and depends on your trading style.

Have the out of the box settings already been optimized?
Yes by default you will get best settings for current market. We will send you updated settings when needed and it’s free.

Could my broker detect that I am trading with software?

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Pro Trade Wireless: Even if they detect that you’re using our EA copier they can do nothing to prevent this. We don’t use any scalping strategies and all that can do is block your trading completely but really it’s nonsense and barely happens.

Pro Trade Swiper Deluxe: The algorithm is configured so that the broker is not able to prevent your trade. All trades are pending orders, and as you may know there are no delays when you trade with a pending order.

Pro Trade Copycat/Executive: It is extremely unlikely, because all the transactions are performed manually by following the signals system, which is only visible to you on your computer.

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Does the software trade daily?

Pro Trade Copycat/Wireless: It copies all trades from David’s account, but as you may notice David is patient trader. You can expect 1 trade in 2 days. Before enter the market David waits until all the conditions for trade formed. That’s why his success rate is so high. You can see David’s statement with transactions history on the main page of the website to understand David’s trading style in more details.

Pro Trade Swiper Deluxe: As Pro Trade Swiper Deluxe is waiting for exactly the right moment to enter high probability trades it does not trade very often. Do not expect a high frequency trader. Sometimes, it may only trade once a week, other weeks more. While we may grow impatient and make a bad impulse trade, E/U Swiper Deluxe will not. So, please have patience with the system and over time you will find it picking off profitable trades and growing your account size.

Pro Trade Executive: It all depends on how many currency pairs you’re trading with. If you use the Pro Trade Executive system on let’s say 5 pairs then yes, you will get at least 1-2 trading signals per day (some days even more).

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What does this software trade?

Pro Trade Copycat/Wireless: David trades EUR/USD, GBP/USD, USD/CHF and EUR/JPY pairs. New pairs may be added in the near future.

Pro Trade Swiper Deluxe: Trades EUR/USD pair only.

Pro Trade Executive: Can be used with any financial instrument. We recommend major Forex pairs, but we have customers who use it with futures and stocks very successfully.

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What % Risk are you using?

Pro Trade Copycat/Wireless: History shows the maximum relative drawdown was 17.09% with default risk settings (profit with these settings netted to 331%). You will be able to increase/decrease the risk setting, which will increase/decrease profit proportionally.

Pro Trade Swiper Deluxe: You will be able to set your own risk settings.

Pro Trade Executive: It all depends on the signal. Some signals will have a larger SL than others. We don’t recommend you risk more than 5% of your deposit per trade.

Do you intend to limit the number of copies to market?
We will closely monitor the situation. If there are any problems due to the fact that too many people using our product, we will stop selling. Also, one of our main priorities is to provide top notch customer support, which means we have to limit the number of copies available to a certain extent.

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On average how long does it hold a position?

Pro Trade Copycat/Wireless: David’s minimum TP is 100pips, therefore he could hold onto a trade for 1-2 days, but if the market looks to be leveling off he can close the position earlier. So generally David holds trades from several hours to several days.

Pro Trade Swiper Deluxe: Usually trades last for a few hours, but sometimes the EA can hold trades for several days if the trade is in profit and it sees further potential in the movement. (EA won’t hold trades for weeks without SL)

Pro Trade Executive: Usually trades won’t last longer than 1-2 days, more often than not you will hold position for 1-3 hours.

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Does it run by % account size or just straight lot setup?

Pro Trade Copycat/Wireless: You will be able to get the same % profit as shown on our account. If you wish, you can increase/decrease the risk settings to increase/decrease your profit.

Pro Trade Swiper Deluxe: You will be able to set the trading volume in EA settings.

Pro Trade Executive: You will be able to use different Money Management tactics.

What is the highest level of drawdown each trade could go to in pips?

Pro Trade Copycat/Wireless: It depends on market conditions and current volatility but you can expect the SL to be from 100 till 200 pips (usually David will close trade before it reaches the SL).

Pro Trade Swiper Deluxe: The maximum drawdown for a trade is around 200 pips, but usually it’s between 50-80 pips.

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Pro Trade Executive: It depends on market volatility. In any case you will be able to see the SL level in advance before you enter the trade and decide if this trade is ok for you.

What platform does the EA trade on?

Pro Trade Copycat: You can use our signals from the member’s area on any platform. Once you get the signal all you need to do is open your platform and make the appropriate action.

We recommend you use the MetaTrader 4 platform – this the most popular trading platform in the world.

When does it trade – certain sessions only or at any time?

Pro Trade Copycat/Wireless: David could execute trades at anytime during European and US sessions. He will occasionally trade during the Asian session as well if he sees favourable conditions.

Pro Trade Swiper Deluxe: The EA will trade at anytime as long as the necessary conditions are met.

Pro Trade Executive: You will get signals at the closing of the 1H candle.

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What is the minimal amount of money on your account you suggest to start with?
It’s fine to start with around $300 although with most brokers you can even open an account with as little as $50. Therefore you can see how our system works on a real money account with just a small amount of cash before progressing to a larger account size and making some real money.

Do you suggest a virtual server to trade or is it good enough to have a pc running 24/5?

Pro Trade Wireless: We recommend you use a VPS (Virtual Private Server) if you don’t want to miss a signal.

Pro Trade Swiper Deluxe: We recommend you use a VPS so you don’t miss a signal.

Pro Trade Executive: You can run Pro Trade Executive on your own PC. The more time you spend watching for a signal, the more signals you will receive and the more profit you will make.

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Is this software a scalper, swing, position, etc system?

Pro Trade Copycat/Wireless: David uses a combination of several systems. There are swing and position systems – he doesn’t use scalping systems.

Pro Trade Swiper Deluxe: Is a position trading system

Pro Trade Executive: Is an intraday trading system

Does it adjust risk by itself or do I have to set the lot sizes?
You can use the default settings or set your own risk preferences.

Can I run several accounts?
You can run 1 license on 1 account only. If you want to change the account, please contact our support team.

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Does it trade on NFP day?

Pro Trade Wireless: If David sees favourable conditions he will trade on NFP day.

Pro Trade Swiper Deluxe: Yes the EA can execute trades on NFP day if there are correct conditions for the trade.

Pro Trade Copycat/Executive: You will be to decide by yourself if you want to trade during NFP day.

Is the spread critical?
No the systems aren’t spread sensitive.

Will it work with ECN brokers?
Yes they work with any broker that offers the MetaTrader 4 platform

How does it handle news announcements, spikes or general sentiment trading?

Pro Trade Copycat/Wireless: David follows major news, so you don’t need to worry about news releases.

Pro Trade Swiper Deluxe: The EA will open trades based on a solid algorithm. We have forward tested for several years with NFP days and got stable profitable results so you don’t need to worry about that.

Pro Trade Executive: You will be able to make all decisions manually

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How does it deal with the new US trading rules?
They work fine with new US rules.

How easy is it to install?
You can install every product with just 5 clicks of the mouse.

Is Pro Trade Copycat NFA compliant?
Yes

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Does it work with 5 digit brokers?
Yes they work with any MetaTrader 4 broker

Which MetaTrader brokers do you recommend using?
You can use any MetaTrader 4 broker but we recommend you  use any broker with a trusted name.

Are the safety stops significantly larger than the profit take?
Usually we have 1:1 risk/reward ratio or better.

Does Pro Trade CopyCat Trade to 5 decimal Places?
Yes

How many Accounts can Pro Trade CopyCat be run on?
You can run a single license on 1 account only – if you want to use a system on several accounts you have to purchase several licenses.

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