In this post I will be reviewing the Berlinetta Trading forex signal service that uses trade mirroring software to send signals to your MetaTrader 4 trading account. You should have a clear understanding on the risks involved with using a signal service such as this.
As always, I whould use a good ECN forex broker for the best possible trading conditions and low trading costs. I find that a traidng with the best forex brokers can save me on spreads and commissions as well as providing me with significant liquidity to ensure that my orders get executed at the best possible prices.
Berlinetta Trading works by copying the providers master account using an Internet Trade Mirror. The Trade Mirror is a free service for sending trading signals over the internet to other computers (currently for MT4 only). It is widely used by traders all over the world as a broker-independent alternative to MAM systems etc.
The sender runs an EA which broadcasts trading activity to users. Subscribers run a copier EA which receives the signals and automatically mirrors the sender’s trades. Each subscriber has full control over risk settings and all other trading activity, via the parameters in the receiver EA.
Overall, I prefer to have more control over my manual trading strategies. For that reason, I would verify every single signal with my own indepth market analysis.