Copy Trading | Prefix and Suffix

The Importance of Prefix and Suffix in Copy Trading: A Guide to Configuring Copiix

In the world of online trading, precision is crucial, especially when it comes to copy trading. One often overlooked but essential aspect for the success of this practice is the correct configuration of the "Prefix" and "Suffix" parameters provided by brokers. In this post, we will explore the importance of these parameters and how to configure them correctly in Copiix to ensure optimal system performance.

What are Prefix and Suffix?

The terms "Prefix" and "Suffix" refer to additional characters that can be inserted before and after the asset symbol, respectively. These characters are specific to each broker and can significantly influence how trading signals are interpreted and executed.

Examples of Prefix and Suffix Usage

## The Role of the Provider and the Copyer

In Copiix, the process of managing symbols occurs in two distinct phases: the provider and the copyer.

Provider Phase

• Function: The provider is responsible for removing the prefix and suffix
• Purpose: Transport information with the canonical symbol
• Benefit: Ensures trading signals are standardized and easily recognizable

Copyer Phase

• Function: The copyer adds the prefix and suffix according to broker requirements
• Purpose: Adapt signals to specific broker specifications
• Benefit: Ensures operations are executed correctly on the target platform

Signal Flow Example

1. Provider side: #EURUSD → removes # → sends EURUSD
2. Copyer side: receives EURUSD → adds .cash → executes on EURUSD.cash

Broker Prefix Configuration

Broker Prefix Parameter

The Broker Prefix is a parameter that allows you to add characters before the asset symbol. This is particularly useful when using a broker that requires a specific prefix to correctly identify various trading instruments.

Configuration Example

• Prefix Setting: #
• Result: All symbols will have # added before them
• EURUSD becomes #EURUSD
• GBPUSD becomes #GBPUSD

Use Prefix Only... Option

With the "Use Prefix Only..." option, you have the ability to select which trading pairs should use the prefix.

Selective Application

• Empty field: Prefix applied to ALL pairs automatically
• Specific pairs: EURUSD,GBPUSD - only these pairs get the prefix
• Flexibility: Customize which instruments need prefixes

Broker Suffix Configuration

Broker Suffix Parameter

Similarly to the prefix, the Broker Suffix allows you to add characters after the asset symbol. The need for a suffix depends on the broker being used.

Configuration Example

• Suffix Setting: .cash
• Result: All symbols will have .cash added after them
• EURUSD becomes EURUSD.cash
• GOLD becomes GOLD.cash

Use Suffix Only... Option

The "Use Suffix Only..." option allows you to select which pairs should use the suffix.

Advanced Configuration

• Empty field: Suffix applied to ALL pairs
• Selective pairs: EURUSD,GBPUSD,GOLD - only specified symbols
• Mixed setup: Some pairs with suffix, others without

Advanced Configuration Scenarios

Complex Broker Requirements

Some brokers have sophisticated symbol formats requiring both prefix and suffix:

Provider: EURUSD
Copyer Configuration:
- Prefix: "FX_"
- Suffix: "_spot"
Result: FX_EURUSD_spot

Multiple Asset Classes

Different asset classes may require different treatments:

Forex pairs: No prefix/suffix needed
Commodities: Suffix "_spot" required
Indices: Prefix "#" required

Configuration:

• Use Suffix Only: GOLD,SILVER,OIL
• Use Prefix Only: DAX,SPX,NASDAQ

Best Practices

Research Your Broker

1. Contact broker support for official symbol format documentation
2. Check trading platform symbol listings
3. Test on demo before live implementation
4. Document configurations for future reference

Common Pitfalls to Avoid

• Case sensitivity: Some brokers are case-sensitive
• Special characters: Ensure proper encoding of symbols like #, _, .
• Asset class mixing: Different rules for forex vs commodities
• Platform differences: MT4 vs MT5 vs cTrader variations

Testing Strategy

1. Start with demo accounts on both provider and copyer sides
2. Test with small subset of symbols first
3. Monitor execution logs for symbol recognition errors
4. Gradually expand to full symbol list

Conclusion

In summary, the correct configuration of the "Prefix" and "Suffix" parameters in Copiix is fundamental to the success of copy trading.

Key Takeaways

• Provider strips prefixes/suffixes for standardized signals
• Copyer adds prefixes/suffixes for broker compatibility
• Selective application allows fine-tuned control
• Proper testing prevents execution errors
• Documentation helps maintain configurations

Make sure to understand your broker's specifications and configure these parameters appropriately to avoid errors and maximize your trading opportunities. With accurate configuration, you can make the most of Copiix's potential and achieve optimal results in your trading.