Account Management

Accounts List

Navigate to the Account Management tab and you will be able to see a list of all connected accounts. It is important to note that your connections must be connected to view the latest informaiton for accounts under that connection. If you have an active connection and PnL information is out of date, simply click the Refresh button to get the latest details about your accounts.

Important Note: The Drawdown column is updated each time a connection is established. If your drawdown for an account is out of date, simply reconnect the connection. As Echo Trader develops live updates, drawdown will become more real-time.

Account Live Updates

The Account Management tab will show real-time position updates in the "Position" column. The column will read "Flat" if you have no open positions for the account.

For example, if you have 2 contracts that are filled at $25,000 on MNQH6, the Position column will read "2 Long - MNQH6 @ $25,000".

If you have 2 or more positions filled at the same time, the column will show all positions you have filled for each account until each position goes flat.

This can help you understand in real-time what positions you have open on any connected account at any given point in time. It's a best practice to monitor these real-time updates and take action if you have an unexpected position open.

Important Note: The connection associated with you account must be actively connected to receive real-time position updates.

Flatten Positions

Flatten Per Account

Important Note: As a best practice, flatten per account rather than using the "Flatten All" feature. Flattening your leader account will then copy the action to your follower accounts. It is a quicker and more lightweight operation to flatten just a leader account and then allowing Echo Trader to copy the action to follower accounts rather than using "Flatten All".

You can also flatten a single account's orders by clicking the Flatten Account button.

Flatten All

Important Note: Flatten All will flatten orders on your leader accounts first, and then all of your followers. This operation is more expensive than simply flattening a single leader account, but is available for use if needed.

To flatten all orders, click the Flatten All button.

Risk Management

Built In Echo Trader Risk Management

Each Echo Trader group comes with the ability to automatically flatten a follower account's positions for a particular contract when a leader account's positions are flat for the same contract. There is nothing you need to do to enable this functionality because it is automatically enabled when a group is enabled. This functionality is an extra layer of protection to help follower accounts stay in sync with leader accounts, but is not guaranteed to work due to brokerage and exchange limitations.

Important Note This built in feature has the ability to flatten a follower up to once every 20 seconds to stay within brokerage limitations. It will flatten all positions in the account for the particular contract.

Accounts can become out of sync for any number of reasons including broker connection issues or user error. It is always a good idea to monitor your account's positions as you use Echo Trader's copy trading software.

As an example of this feature, if leader Account A buys 2 contracts on MNQ and follower Account B buys 2 contracts on MNQ, and along the way another manual buy order for 3 contracts is placed on MNQ on follower Account B. If leader Account A moves from 2 contracts long to 0 open positions, and follower Account B sells the original 2 contracts, follower Account B would now be at 3 long contracts. Echo Trader will make a best effort to flatten the remaining 3 MNQ contracts on follower Account B.

To disable this functionality, simply disable or delete the group, or you can disconnect a connection to prevent any additional trade copying.

Setting Profit and Loss Limits

Echo Trader allows you to conveniently manage your daily and weekly profit and loss limits on your accounts from a single location. To do so, click the Risk Management button for the desired account.

A popup will appear where you can set your daily and weekly profit and loss limits for that account. Click Save Settings when done.

Editing Columns

To edit the visible columns on the page, click the Edit Columns button. A popup will appear where you can select any or all columns to make visible on the screen.