Tradesyncer's Cockpit is designed to provide you with full control over your trading experience, from setting up your lead account to configuring follower accounts with precision. The Cockpit allows you to manage, monitor, and adjust trading settings, helping you maximize your trading strategy across multiple accounts. In this guide, we’ll take you through every feature the Cockpit offers, ensuring you have the insights you need for a seamless trading experience.
1. Connecting your accounts and importing contracts
Before diving into the Cockpit’s features, it’s essential to connect your trading accounts and import your contracts. Tradesyncer requires an established connection with your accounts to synchronize data and execute trades seamlessly. Once connected you would have to import contracts as instruments to trade with. This initial steps are the foundation of your Cockpit setup.
2. Setting up your lead account
With your accounts connected, designate your lead account in the Cockpit. This account will serve as the primary source of trades and strategies that your follower accounts will replicate. Importantly, your lead account configuration remains consistent across all contracts/instruments, so the strategies and trades you implement will be mirrored exactly as they appear in the lead account but per contract you can have different copy settings for your lead accounts, ensuring a unified execution across follower accounts.
3. Configuring copy settings and position settings per contract for follower accounts
Tradesyncer’s Cockpit provides significant flexibility for managing follower accounts, enabling users to configure both copy settings and position settings on a per-contract basis. This customization ensures that each follower account can effectively align with its unique trading goals and risk tolerance. Here’s a detailed overview of how these features work.
Order configuration per contract: Each follower account’s order configuration can be customized for individual contracts. This level of granular control is exclusive to follower accounts, as the lead account determines the standard for the copy settings explained below here.
Follower Protection: Make sure to set on or off the Follower Protection feature more info of that feature can be found here.
Copy settings allow you to tailor how trades are mirrored from the lead account to the follower accounts. You have two primary methods to choose from:
Ratio copy method
The Ratio Copy method enables follower accounts to replicate trades from the lead account in a fixed proportion. For example, if you set a 1:2 ratio, when the lead account opens a position with 1 standard Nasdaq futures contract, each follower account will open a position with 2 contracts, effectively doubling the trade size. This method is ideal for maintaining proportional exposure across different accounts.Cross copy method
The Cross copy method allows follower accounts to replicate trades using different contract sizes. This is particularly advantageous for traders who wish to align with the lead account’s strategy while managing their exposure and risk levels effectively. For instance, if the lead account opens a position with 1 standard NQ contract, a follower account using the Cross Copy method would open 1 micro NQ contract. This enables follower accounts to participate in the same trading strategy with a lower capital requirement, making it easier to manage risk, you will need to import both the micro and mini instance of the contract your are trading.
4. Real-Time balance, side, and updated PNL tracking
In addition to trade configurations, the Cockpit keeps you informed of critical real-time updates, including:
Account balance: View the current balance of each account in real time, providing insights into each account’s available funds relative to open positions and potential new trades.
Side: Track the active side (buy or sell) for each trade per account, allowing you to assess the direction of positions across follower accounts quickly.
PNL (Profit and Loss): Real-time PNL updates provide instant feedback on the profitability of each position for each follower account per contract. Having a centralized view of PNL across all accounts is essential for making quick, data-driven decisions.
5. Position and order management
The Cockpit offers flexible tools for managing positions and orders across accounts, allowing you to act on individual accounts and contracts or apply changes across all accounts simultaneously. Here’s how you can control positions and orders with ease:
Close positions: You can choose to close positions individually for a specific account and contract with the action button on the record of the account, or apply a global close across all accounts on all contracts. This gives you the control to close out specific trades or make broader adjustments.
Close orders: Similarly, open orders can be closed individually by account and contract with the action button on the record of the account, or you can choose to cancel all open orders across every account and contract at once.
Flatten (Close both positions and orders): The flatten option allows you to simultaneously close both open positions and any outstanding orders. You can use this feature per individual account and contract or apply it globally to flatten all accounts and contracts at once. This feature provides a quick, decisive way to exit the market entirely across your network or selectively per account.
6. Logs of all copied positions and orders
For accountability and review purposes, the Cockpit includes a detailed log of all copied positions and orders ready for export in CSV file. This log allows you to track every trade that was copied from the lead account to each follower account, offering a transparent view of trading history. By reviewing this log, you can analyze past trades, measure the effectiveness of your copy strategies, and make informed adjustments for future trading sessions.