Copying Trades from TradingView to Tradovate with PickMyTrade

In the world of trading, having the ability to replicate trades across multiple accounts can be a game changer. This functionality is especially useful for traders managing client accounts or those who wish to streamline their trading process. In this blog, we will explore how to effectively use PickMyTrade to copy manual trades from TradingView to Tradovate, enabling you to manage multiple accounts effortlessly.

Understanding the Basics

PickMyTrade offers a trade copier feature designed specifically for manual trading. This tool allows you to monitor specific accounts and duplicate trades executed on TradingView into various other accounts. Whether the accounts belong to you or your clients, this system is versatile and efficient.

To get started, you’ll need to set up your accounts within the PickMyTrade platform. Here’s how you can do that:

Setting Up Your Accounts

First, navigate to the trade copier section within PickMyTrade. This section is dedicated solely to manual trading and ensures that your other trading activities remain unaffected. Here’s a step-by-step guide:

1. Add the Account: Specify the account you wish to monitor. This will be the account where you execute your trades on TradingView.
2. Determine Active Status: Set the account to ‘active’ to ensure trades are copied.
3. Set Quantity Multiplier: Choose a quantity multiplier based on your needs. For example, if you want to copy trades at the same quantity, set it to one. If you wish to double the trade size in the client account, set it to two.

Once you’ve configured your accounts, you can replicate trades across multiple client accounts seamlessly.

Copying Trades in Real-Time

After setting up your accounts, the next step is executing trades on TradingView. Let’s explore how to copy trades effectively:

Executing Trades on TradingView

With your accounts set up, you can now trade on TradingView. Here’s how the process works:

1. Open the TradingView platform and ensure the account linked to PickMyTrade is selected.
2. Place a market order along with your desired take profit and stop loss settings.
3. As soon as the market order is filled, the corresponding trades will automatically populate in the linked accounts with the specified quantity multipliers.

This means if you set a quantity multiplier of two, and you place a market order for two units, the system will replicate that trade as four units in the client account.

Managing Multiple Accounts

One of the standout features of PickMyTrade is its ability to handle multiple accounts simultaneously without any latency issues. Whether you’re managing your own accounts or those of clients, the platform allows for efficient management of trades across these accounts.

Handling Different Order Types

PickMyTrade supports various types of orders, including:

• Market Orders: Instantly fill orders at current market prices.
• Limit Orders: Set specific prices for buying or selling assets.
• Stop Orders: Trigger trades once a specific price level is reached.

For instance, if you place a limit order and set a take profit or stop loss, PickMyTrade will automatically apply these settings across all designated accounts. This is particularly helpful for traders who want to maintain consistent risk management across their portfolios.

Modifying Orders

Another crucial aspect of trading is the ability to modify existing orders. With PickMyTrade, you can easily adjust your trades even after they have been placed.

How to Modify Orders

To modify an order, follow these steps:

1. Access your open orders on TradingView.
2. Select the order you wish to modify.
3. Change the price or quantity as needed, and save your changes.

This flexibility allows traders to adapt quickly to changing market conditions without the need to manually cancel and re-enter orders.

Closing Positions

Managing open positions is just as important as placing them. With PickMyTrade, you can close positions across all accounts simultaneously, ensuring you maintain control over your trading strategy.

Steps to Close Positions

To close a position, simply:

1. Navigate to your TradingView account where you have open trades.
2. Select the positions you wish to close.
3. Click on the ‘Close Position’ option, and it will execute across all linked accounts.

This feature is particularly useful for traders who may not have time to monitor multiple accounts continuously.

Stopping Trade Copying

If at any point you decide you no longer wish to copy trades to a particular account, you can easily stop the trade copying process.

How to Stop Trade Copying

To stop copying trades:

1. Return to the PickMyTrade platform.
2. Select the account you want to stop copying trades to.
3. Click on the ‘Stop’ option, and the system will cease all trading activities for that account.

This feature allows for complete control over which accounts are actively receiving trade copies, ensuring you can tailor your trading approach as needed.

Conclusion

Utilizing PickMyTrade to copy trades from TradingView to Tradovate presents a robust solution for traders looking to enhance their efficiency and manage multiple accounts. By following the steps outlined in this blog, you can streamline your trading process, ensuring that you can focus more on strategy and less on manual execution.

For those interested in automated trading solutions, consider exploring PickMyTrade for expert strategies and real-time insights that can optimize your investments.

Embrace the future of trading with PickMyTrade and experience the benefits of automation in your trading journey!

PickMyTrade

PickMyTrade specializes in automating trading bots, enabling seamless strategy execution for futures from platforms like TradingView, across well-known brokers such as Tradovate.

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