Automatically follow any other AlgoLab account
There is a $50 per month fee for subscribing to another alias account. (chose last drop down menu item below).
You can automatically follow another alias account in any or all of 4 types of AutoFollow settings:
PAUSE - each time your followed pauses or unpauses, your account will also automatically be changed to match.
SYMBOLS, SYSTEM, & DOW - each time your followed changes their symbol set or trading system, or DOW filters, your account will also automatically be changed to match.
EMAIL UPDATE - each time your followed changes pause state, symbols, DOW settings, or risk setting, you will receive an email with details on what was changed.
RISK & MANUAL EXITS - each time your followed changes their risk setting, your account will also automatically be changed to match. NOTE that if your followed changes risk setting to a value that is ABOVE YOUR SUBSCRIPTION MAX RISK SETTING, then the change that will be made to your risk setting is YOUR maximum risk value. Also included in this AutoFollow type, is if your followed manually exits a trade (if they have AlgoLab Pro level status), your account will also manually exit.
If you are AutoFollowing another account, your own settings changes via your dashboard, aside from capital setting changes, will NOT work.
If you want to "unfollow", then select the "Stop Following" menu item on your dashboard.
When you stop AutoFollowing an account, your settings will remain on the last setting by your followed account - including any symbols that your followed turned on or off, your risk, and day of week filters.
Since risk values are proportional to capital, it is possible for a $50,000 account to follow a $300,000 account. For example, here are some average drawdown % estimates using risk values and various account values. Note they are very similar:
Capital $300,000 risk .45
Ave rtn = 277%, Ave drawdown = 32%
Capital $50,000 risk .45
Ave rtn = 299%, Ave drawdown = 33%
BE CAREFUL!! Please be aware that if you are including following risk setting changes, that your account will trade a number of contracts proportional to your capital (ie: .1 risk for a $50,000 trades 1 or 2 contracts, .1 risk for a $300K account will trade about 6 times more contracts). Your followed may leave their system unpaused, or trading at a high risk value even if the market is doing into drawdown, and this means that your account will follow.