Setting Up Traddoo Account for Integration
To start copying trades from top traders on Traddoo, you must set up your Traddoo account properly. Ensure your account is funded, verified, and has all required permissions enabled for third-party connections. You may need to submit additional KYC documents or change certain account settings to prepare for integration.
Linking Traddoo Account to Social Trader Tools
Once your account is ready, go to the social tools trade copier on Traddoo to link your account. Enter your Traddoo user ID and account token when prompted. Read all permissions carefully before allowing access. After your account is successfully linked, Social Tools will have read-only access to execute trades on your behalf when copying.
Browsing Top Traders and Profiles
With your Traddoo account now linked to Social Tools, browse top-ranked traders sorted by profitability, risk metrics, followers and more. Check their historical performance data and read profile descriptions carefully before selecting traders to copy. Look for traders operating in instruments and timeframes aligned with your trading plan.
Trade Copy Mechanisms Overview
When you follow a trader on Social Tools, their new trades will be automatically copied to your Traddoo account proportionally based on your copy settings. You can copy with fixed trade sizes or allocate a percentage of capital per copied trade. Trades are duplicated simultaneously when opened by the master trader. You can stop copying trades manually or use risk rules to halt trading when limits are reached.
Initiating Trade Copying
Pick several traders you want to copy and start following them to initiate trade duplications. Each trader can be allocated a custom copy allocation percentage to diversify across multiple signal providers. Monitor your dashboard to ensure copied trades start flowing through as expected. Use free demos to test the copy process before risking real capital.
Managing Copied Trades and Risk
Utilize Social Tool's portfolio analytics to see all your open copied trades and accompanying stop losses/limits. You can modify or close duplicated trades on your account independently of the master trader’s actions. Set rules like maximum capital allocation per trader or symbol to control the copy trading risk. React quickly if a copied trader starts underperforming by stopping allocations.
Monitoring Copied Trades
Check your Social Tools dashboard and Traddoo account daily to monitor active copied trades. Review current exposures across instruments, any open drawdowns and individual trader performance. Pausing or removing losing traders will prevent further losses on your account. Always know your total capital deployed by Social Tools at any time.
Troubleshooting Trade Copying Issues
If your copied trades are not aligning properly with your master traders’ actions, resolve any linking errors or sync delays quickly. Connect with Traddoo customer support and Social Tools to investigate and restore accurate duplications. Server lags or disconnects can sometimes interrupt the copy process.
Maximizing Trade Copying Strategies
Improve overall copy trading outcomes by spreading allocations over 10-30 top traders in uncorrelated markets. Adjust proportional position sizes modestly to better withstand individual losing streaks. Rotate new traders you follow monthly to find who generates the most sustainable gains to copy long-term.
Security Measures and Best Practices
Social Tools uses read-only connections for security. Enable two-factor authentication on your Traddoo account and change passwords routinely. Never give Social Tools credentials to withdraw or deposit funds. Review linked app permissions routinely for suspicious access. Copy trade only with reputable, established traders with verifiable track records and use the Social Tools public leaderboard.
By properly linking your Traddoo account to Social Tools, you can seamlessly copy profitable trades from vetted top master traders. Employ the social trade copier carefully by hedging copy trading positions with your risk rules and capital allocations. Stop copying underperforming traders promptly to maximize gains.