MT4 Sidekick — Demo Account Barometer
MT4 Sidekick is a new and innovative tool that uses a Demo Account to create a database of trade results that is shared with a Live Account. When a strategy (EA) in a Live Account receives a trade signal it checks the database to determine how that strategy is currently performing in the Demo Account. If the strategy is currently performing well in the Demo Account then a new position is opened in the Live Account — otherwise, the signal is ignored.
The idea is very simple, two accounts — Demo and Live — running the same portfolios and strategies. The strategies in the Demo Account are allowed to trade with no restrictions and are used to create and update an active, shared database of trading results. When a strategy in the Live Account receives a signal it checks the database before opening a new position. In this way the Live Account can use the Demo Account as a barometer to determine how a strategy is performing in the current market. The availability of a barometer that measures current performance and which can be accessed before a position is opened is a powerful technique. A strategy’s performance will vary depending on patterns that occur in the current, incoming data — and the incoming data is always changing. So, taking advantage of a Demo Account in this way — i.e. as a “barometer” — opens up a new way of managing EAs and trades that can be used to your advantage to provide a real “edge”.
- High-quality strategies generated / trained by FSB-Pro. Using MT4 Sidekick is not a substitute for creating good strategies — that should still be the #1 priority. High-quality strategies are ones with excellent back testing statistics and Win / Loss percent in the high 80% (or higher).
- Confidence in your broker’s Demo Account. That is, you’ve determined your strategies and portfolio EAs perform similarly in Demo and Live accounts.
- Our Portfolio Maker tool is used to combine individual FSB-Pro strategies into a portfolio EA. Portfolio Maker is required because it inserts code into the portfolio EA that knows how to access MT4 Sidekick’s shared database.
MT4 Sidekick is an EA (Expert Advisor) that runs in your Demo Account. It keeps track of all trades and maintains a database of all trades — strategy-by-strategy (i.e. by Magic Number). The same portfolio EA(s) that you created using FSB-Pro and Portfolio Maker run in both this Demo Account and your Live Account. When a strategy in the Live Account receives a signal, it checks the shared database to determine how the strategy is currently performing under current market conditions. If the check passes then a new position is opened in the Live Account — otherwise the signal is ignored.