Choosing a Copytrade Strategy: How to Analyze Strategy Details
It’s one thing to find a strategy you like. However, analyzing it is another task entirely. This handy guide will help you study strategy details like copying settings, performance statistics, and strategy history. Read now to learn everything about how Headway Copytrade works.
Navigating strategy settings
When you find an interesting strategy, click on its card to see full details.
At the top of the page, you can find an expanded version of the strategy card including:
- Description,
- Currency: account currency for making trades,
- Leverage: leverage ratio applied by the strategy owner,
- Platform: MetaTrader platform where the strategy account is published,
- Date of publication: the date when the strategy account was created,
- Active days: the period during which the strategy account has been active in MetaTrader.
You can always adjust your account parameters like leverage, platform, account type, and copying ratio in accordance with your personal needs.
Assessing strategy performance
Beneath the card, you can analyze a strategy’s performance over a specific period of time. You have five timeframe options:
| Acronym | Period | Update interval |
| 1W | last 7 days | 4 hours |
| 1M | last month | 1 day |
| 3M | last 3 months | 3 days |
| 6M | last 6 months | 5 days |
| Overall | all time | 1 month |
After selecting the timeframe, you can review the main performance stats.
Balance is the current value of a strategy account. On the other hand, equity refers to the sum of the account balance and potential profits or losses from open trades. For example, imagine that your account balance is $100. You also have two open positions. One is currently valued at $13 while the other is losing $5. If you closed your trades now, your net profit would be $13 – $5 = $8. And if you add this potential (or floating) $8 to your current account balance, you will get $108. This is what we call account equity.
Apart from general data, you can also see how the strategy performance has changed over time on a performance chart.
There are two types of charts available:
- USD. The first type shows the overall profit in USD made by the strategy within a specified time period. The blue line represents gross profits after all orders have been closed. On the other hand, the green line indicates floating profits from open orders. You can select to see only one of the parameters at a time;
- Gain. The second chart displays the strategy’s gain over a specific timeframe. It is presented in a percentage form and shown in a blue line.
Apart from the profit and gain charts, investors can also see a graphic visualization of the profit/loss ratio in USD and the ratio between successful and unsuccessful orders. The loss/profit ratio is displayed in green and red; the orders ratio is shown in blue and orange.
Overall, this section aims to give you a better understanding of a strategy’s profitability and success. By browsing its history, you can assess how it performed in different periods of time and whether it aligns with your goals and expectations.
Strategy history and balance operations: Overview
The strategy history and balance operations are only available to the strategy’s current investors.
The strategy history shows information about every trade executed on the strategy account. The list of data includes:
- Instrument type;
- Opening date and time;
- Opening price;
- Trading volume;
- Closing date;
- Closing price;
- Commission;
- Swap;
- Profit or loss.
The strategy history gives you a more detailed breakdown of a strategy’s transactions, losses, and profits.
The tab next to it — Balance operations, — displays all deposits and withdrawals made by the strategy owner.
All in all, these two tabs help you understand what changes have been made to the strategy account balance. Always check this section to know when you need to top up your own account.
Ready to choose your first strategy? Start now!
With this guide at your fingertips, you can now easily navigate through the abundance of strategies in Headway Copytrade. Use the power of social trading and Headway’s community to improve your earning potential. Choose a strategy to follow now →
Should you have any questions, contact our Customer Care team via care@hw.site, in the app, or the live chat on the website.
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