Consider you’re a trader copying a strategy that produced juicy profits. Now, you want to automate your trading to help you execute similar trades as efficiently as possible. This is where Replikanto, one of the Best Trade Copier tools, comes in. This innovative tool by FlowBots allows traders to automate their copy trading activities smoothly.
This guide will explore how Replikanto works and help you understand its value. You’ll also learn how to get started with Replikanto to help you achieve your goals, such as increasing trading efficiency for faster and smarter trade executions with minimal manual effort.
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What is Replikanto?
Replikanto is a robust trade copier add-on for Ninjatrader 8. Its primary purpose is to replicate orders from a leader account to multiple follower accounts according to your selected copy method. For instance, if you’re a futures copy trader, you could be following the signals of a trader with a profitable strategy. If you use Replikanto and that trader opens a sell order for 2.0 lots, Replikanto could automatically open a sell order for 2.0 lots in your account, depending on the copy method you select. Trades between Replikanto systems running on multiple machines can be copied in-network or remote mode.
What Are the Key Features of Replikanto?
Replikanto features full compatibility with Tradovate accounts and the ability to copy trades using the web, app, or TradingView with OCO exit orders support. Several copy methods exist (Exact Quantity, Equal Quantity, Ratio, Net Liquidation, Available Money, Percentage Change, and Pre Allocation).
Top Features
ATM Copy
The exclusive feature will use the leader’s Ninjatrader ATM strategy in the followers’ accounts (local and remote) to manage exit orders instead of copying them from the leader’s account. A new way of copying trades in Ninjatrader that is much faster and will open new possibilities for using the Ratio and pre-allocation copying methods.
Market Only
This feature will give an option to copy only the leader market orders (executions) to the followers. This can be used with local or remote followers to ensure only executions are copied, omitting other order types like limit or stop orders.
Follower Guard
A feature that aims to protect follower accounts in certain situations is closing the position and disarming it so it no longer receives copies from the leader. When this happens, An email is sent so you can take the necessary action.
Cross Order
Trade micro and copy to mini or vice versa (ES ↔ MES, NQ ↔ MNQ, …). etc
Network and Remote Mode
Trades between Replikantos running on different computers over the local network or the Internet can be copied.
Export/Import
You can export and import the list of followers, IP nodes, and Replikanto Remote IDs individually.
Stealth Mode
This feature will prevent identifying the use of Replikanto by looking at the information recorded in the orders.
ScalperTicket Integration
Trades at the Bid/Ask price can now be transferred to follower accounts (local and remote). The Replikanto Flatten All button is now available in ScalperTicket.
Ninjatrader 8 with Replikanto must be running on all (Leader and Followers machines) machines. Requires a unique Replikanto license for all machines.
Credits are required to send trades between Replikantos from different machines using the Internet as a communication channel. Click here for more information.
NT7 to NT8 Compatibility
Replikanto also enables trades to be copied from Ninjatrader 7 to 8, with the prerequisite of having the Replikanto NT7 to NT8 product.
Each feature enhances user flexibility, provides superior trade copier functions, and promotes a smoother trading experience. For a hands-on experience and a better understanding of what this tool offers, feel free to explore it here.
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Detailed Replikanto Review
Replikanto’s Diverse Replication Methods Offer Flexible Copy Trading Solutions
Replikanto has a variety of methods to customize how trades are copied. These methods adjust how trades are replicated across follower accounts based on user-defined criteria, ensuring followers can effectively manage risk according to their preferences.
Exact Quantity Method
The Exact Quantity method replicates the exact volume of the trade across all accounts in the group. For instance, if you order four contracts of ES and your Account Group has four or even six accounts, each account will receive the same four contracts.
Equal Quantity Method
In the Equal Quantity method, the contracts are equally distributed among all accounts in the group. For example, if you place an order for 40 contracts of MES and your Account Group includes four accounts, each account will receive 10 contracts. If there are six accounts, each account will receive six contracts.
Ratio Method
The Ratio allows you to set a ratio for each follower account, ranging from -100 to 100. For instance, a 0.5 ratio for a two-contract order will result in a one-contract order for the follower account. On the other hand, a 2.0 ratio for a one-contract order will result in a two-contract order for the follower. Negative ratios will reverse the orders. For example, buy orders will become sell orders, and vice versa.
Net Liquidation Method
The Net liquidation method distributes shares based on the net liquidation value of each account. If you order 700 shares and the account group includes three accounts with net liquidation values of $25,000, $50,000, and $100,000, respectively, the shares are allocated based on a 1:2:4 ratio.
Available Money Method
In the Available Money method, shares are distributed based on the available equity in each account. Like the previous method, if you place an order for 700 shares, and the three accounts have available equity amounts of $25,000, $50,000, and $100,000, respectively, the shares are allocated in a 1:2:4 ratio.
Percentage Change Method
The Percentage Change method modifies an existing position. Positive percentages increase a position, while negative percentages decrease it. The adjusted order size is displayed in the Quantity field once acknowledged.
Pre-Allocation Method
In the pre-allocation method, the pre-allocated quantity in each follower account is used, regardless of the lead order size. An order in each follower account is placed with the pre-defined quantity. This method, however, isn’t recommended for ATM exit orders or when partially filled orders are expected.
Cross Order Feature Promotes Efficient Trading Transitions
Replikanto offers a cross-order feature enabling efficient transition between different trading instruments. The pre-defined set of instruments includes: ES ↔ MES, NQ ↔ MNQ, YM ↔ MYM, 6A ↔ M6A, 6B ↔ M6B, 6E ↔ M6E, 6J ↔ M6J, 6S ↔ M6S, GC ↔ MGC, ICD ↔ MICD, IJY ↔ MIJY, ISF ↔ MISF, NF ↔ MNF, RTY ↔ M2K, CL ↔ MCL, NG ↔ QG, RB ↔ QU, HO ↔ QH, ZS ↔ YK, ZC ↔ XC, ZW ↔ YW, FDXA ↔ FDXM, and more.
Replikanto allows you to customize your cross-order instruments, providing the flexibility to tailor the tool according to your specific trading needs. This means you can adjust and redefine the instruments you wish to trade and copy, facilitating a personalized trading experience.
Replikanto Offers Affordable Pricing Plans
Replikanto’s pricing options are straightforward and affordable. The cost of Replikanto varies based on the type of license you choose. There are several options:
- For a single machine with lifetime access, the price is $149.
- For two machines with lifetime access, the price is $249.
- For a single machine with a one-year license, the price is $99.
- For two machines with a one-year license, the price is $149.
For those who want to try before they buy, Replikanto offers a seven-day free trial. It’s wise to avoid using the trial version on live accounts to prevent any potential issues. Additionally, every purchase comes with 20 submit credits for the Remote Mode feature, allowing users to experience this unique functionality.
This pricing structure ensures that Replikanto can cater to various budget ranges and user preferences while maintaining its superior service quality.
Replikanto Remote Credit Extends Trading Capabilities
Replikanto uses remote credit for leader accounts. The Replikanto Remote Credit is available for purchase, ranging from $10 to $200, and is exclusively for those who have acquired Replikanto. Again, it’s worth noting that only the leader account requires these credits, not the follower accounts.
These credits enable the Remote Mode feature in Replikanto 1.4 and later versions. This feature facilitates the transmission of trades over the internet, extending your trading capabilities.
Customer Support Enhances User Experience
For user support, the platform offers an extensive FAQ area meticulously designed to tackle users’ inquiries regarding Replikanto. Beyond that, users can contact the dedicated Replikanto customer service team directly via a messaging interface for questions requiring a personalized touch. With this combination, the platform ensures quick and effective resolution of user queries, further enhancing user experience.
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How to Set Up and Use Replikanto
Step 1: Register and Download Replikanto
First, you need to get registered and download Replikanto. Head over to the Replikanto website and create an account. Once registered, download the Replikanto software. The software will typically be in the form of a NinjaScript add-on for NinjaTrader 8.
Step 2: Install Replikanto
Now, it is time to install Replikanto. Open NinjaTrader 8 and launch your NinjaTrader 8 platform. Go to the Control Center, select Tools, then Import, and choose NinjaScript Add-On. Locate the downloaded Replikanto file and import it. After the installation is complete, restart NinjaTrader to finalize the setup.
Step 3: Connect Your Trading Account
Next, you will want to connect your trading account to Replikanto. Make sure your trading account is connected to NinjaTrader. This can typically be done through the Connections menu. Then, follow the prompts to authorize Replikanto to access and manage your trading account. This usually involves entering your account credentials and approving the application.
Step 4: Configure Replikanto
Now, you will need to configure Replikanto. In NinjaTrader, go to the Control Center, select Tools, and then Replikanto Settings. Here, you will set up your Leader account (the main account that will make the trades) and your Follower accounts (the accounts that will copy the trades). Enter the necessary account details for each. Then, configure how trades will be replicated across your Follower accounts. Replikanto offers methods like Exact Quantity, Ratio, Net Liquidation, and more. Choose the method that best suits your trading style.
Step 5: Test the Configuration
Before you start using Replikanto for copy trading, it is best to run a few tests. Execute a test trade on your Leader account to ensure the trades are correctly copied to the Follower accounts. Use the real-time monitoring tools provided by Replikanto to check the performance and synchronization of trades between accounts.
Step 6: Customize and Optimize
Now, it is time to customize and optimize your Replikanto settings. Fine-tune the replication settings as needed. Based on your trading strategy, you may need to adjust parameters like trade size, stop-loss, and take-profit levels. Replikanto also has advanced features such as Network Mode, Remote Mode, and Stealth Mode for enhanced functionality and security.
Related Reading
- Ninjatrader Trade Copier
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