Copy by Equity Allocation
Copy by equity allocation allows traders to allocate an amount of equity for copying the trades while keeping the same proportions of the portfolio.
The calculation is:
If a copier allocated 1000USD to copying a trader and the master opened a trade that uses up 80% of her free margin. The Copied trade will be in the amount that allocates 800USD to the copying trader’s used margin. The actual copied trade amount depends on the copier’s leverage. The amount allocated will change automatically with accrued profit/loss from previously closed copied trades.
When using “Copy by Equity Allocation” The risk taken may exceed the amount allocated.
Difference between “Copy” and “Watch”
Copy: The “Copy” function gives the trader the ability to automatically imitate all future trades placed by the copied trader. Once trades are copied, all updates pertaining to the trades will also be copied automatically.
Watch: The “Watch” feature allows you to select traders whose trading activity is of particular interest. “Watched” accounts are added to the “traders I watch” list in the social stream. The trader also has quick access to traders he watches through his profile page.
Trader’s Personal Information
The Beneffx Social has been designed in a way that all personal information is strictly limited, so traders are not sharing sensitive information; like how much money the traders have; or?how much money they put on each position. Instead, everything is shown and calculated in percentage terms.
This way, traders are not able to calculate any financial information from other traders in the Beneffx Social.
Using social is similar to using signals, where each social trader is a signal provider.
How to report Masters in Beneffx Social
Reporting Masters in Beneffx Social
- Broker open a ticket suggesting a master is fake or the price is not a market price.
- Support needs to check journal in the MT Manager in order to confirm the master has manipulated trades.
- If there are no manipulated trades, support inform the broker that there was no manipulation and close the ticket.
- If there is manipulated trades, continue with point 2.
- Support contact the broker owner of the master, and explain that according to the Social Community policy, the master will be hidden from the community as the price has been manipulated, master will still be able to copy trades, but other members from the community won’t see him.
- Support will send an email (template will be provided) to all the brokers that belong to the community, to Beneffx Dealers and Account Managers.
- Support will hide the master and will close the ticket.
Instrument P/L in the Portfolio Breakdown
The P/L of an instrument is a weighted average of all order P/L of this instrument according to the margin that was allocated to open this position.
For example: suppose you have 2 positions of EURUSD. The first one has a P/L of 20% and the margin that was needed to open it was 1,000$, and the second one has a P/L of 30% and the margin that was needed to open it was 4,000$. The total P/L for EURUSD is 1000/5000*20%+4000/5000*30% = 28%.?
Max Drawdown
The Max Drawdown for a specific period is the maximum drop in equity during that period. For example, if during a certain period the trader’s equity changed as follows: 1000 500 200
Then his Max Drawdown for this period is 1400 – 200 = 1200
The Max Drawdown during a trader’s past year is the difference between the point his equity was highest during the past year (let’s call this point A) and the point chronologically after point A that his equity was lowest.
Beneffx Social Calculations
Position P/L%: (Closing price – Opening price)/Opening price X leverage
??Daily P/L%: Sum {Price(t)-Price(t-1)X Amount X conversion rate X margin calculation} /[Balance(T-1)+Credit(T-1)+OpenPnL(T-1)+TopDeposit(T)]
Periodic P/L%: Multiplication of all(Daily P/L + 1) in the time period
Risk Level: 2Xln[(AvgPnL + 2XStDevPnL)+1]
Success Rate: Num of winning positions/ Num of all positions
Maximum Draw Down: The Periodic P/L% within the date range that gives the lowest P/L result.
?% of Portfolio: The number of positions in this instrument (regardless of their size) / the number of all positions in all instruments.
Trading Proficiency Level
Each Trader has a Trading Proficiency level which is based on the number of copiers they have.
The system will automatically update the traders profile with the latest proficiency level based on the following criteria:
- Trader?
- No Copiers?
- Master?
- at least 1 copier?
- Expert?
- at least 10 copiers
- GrandMaster?
- at least 50 copiers
- Champion?
- More than 100 Copiers?
- Open a trading account
- Fund your account
- Get a premium training package and learn to trade