Mirror Trading

The Interface Mirror Trader is a browser-based platform with an interface which supports automated strategies as well as manual trading strategies.

You should therefore only evaluate those strategies with enough historical track records, strategies that have already faced different situations and market conditions, managing to overcome them by behaving well. 

Before trading, be aware that markets constantly shift and past performance is not always indicative of future results.

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Mirror trading is a strategy that has recently been developed in forex market. With this strategy, it is possible to copy the trading behavior of the most experienced investors in the currency market that have proven to be highly successful.

However, in substance very often the difference is really minimum, because nothing prohibits a trader to use an algorithmic strategy on his own account, and therefore in that case we will have a situation virtually identical to that of Mirror Trading. Nothing could be simpler. However, if you want to deepen, in this post we talk about all these differences.

Pros and Cons of Mirror Trading Like any form of investment, even Mirror Trading has both strengths and weaknesses, opportunities and risks. The Mirror Trading Pros Among the strengths are: Control of your capital: To invest you need to open a trading account in your own name and pour capital into it, but it will always remain under your control and it will not be physically managed by other entities, and therefore is a better form of security for your funds.

Mirror trading removes part of this component because you are not the one to decide when and how to open or close the trades, but the strategy you have chosen.

Wide range of instruments and markets: Over the years, however, platforms have evolved, the offer has expanded and today you can find mirror trading services for CFDs, Stocks, Futures, Options and Binary Options.

With Mirror Trading we have various replication options, the fixed or proportional, both created to allow users to replicate the signals with the appropriate amount given the size of their own capital. Ability to check the performance before: The problem with these solutions is that it is never possible to be sure of the actual effectiveness, and you almost always have to test the system sight unseen, because the creators rarely release a real performance statement.

With Mirror Trading of course there is no certainty of future performance unfortunately we will never have it, anywhere and anyhow , but at least you have a view on the real performance of the strategy recorded up to that point, and therefore you have a parameter and truthful information to help you better choose. Ability to manage risk: The Mirror Trading Cons Among the weaknesses we can instead indicate: Slowness of automatic strategies to adapt: Automatic strategies usually are not as quick to adapt to such changes, and many times they are only able to generate good performance in specific market conditions.

You should therefore only evaluate those strategies with enough historical track records, strategies that have already faced different situations and market conditions, managing to overcome them by behaving well.

Risk assessment is not as easy as it seems: Understanding whether it is in profit or not is certainly immediate, but understanding how this profit is generated is the difficult part. In essence, to generate profits every strategy must necessarily take some risks. Many investors often find it difficult to identify and to really understand these risks and what they entail. Live Charts for all currency pairs: Choose between charts for different currency pairs. It is also possible to select different time frames, and zoom in or out.

Various indicators are available for technical analysis. Also, line, bar and candlestick charts are available. This is where the trader can select strategies, place strategies on the watchlist, and monitor performance of strategy providers. Set custom filters to identify suitable traders using a specific criteria.

Get a detailed performance summary for all strategies on the watchlist. Use the T-Score to evaluate the risk, momentum and stability of a strategy on a scale from 1 to The watch list is a tool providing quick access to pre-selected strategies.

Strategies may be followed before added in a trading portfolio. The strategies are recorded and stored in a database, and traders can then use the Smart Filter function to search, add, and use the chosen strategies. The smart filter is designed to enable the using to find a choice of strategies using two parameters: Smart filter will dig into the data of trade strategies available for the selected time frame.

The Smart Filter will then calculate the performance data for all strategies for the selected time frame, and present only the strategies that match their preferences. Performance of each strategy is presented in tabular and graphical format.

Mirror Trader — Live Signals A pop-up will appear on the screen. Select the trade size for the opening strategy. Click on the Add button to complete the action. Add more strategies by repeating the process.

 

DEFINITION of 'Mirror Trading' 

Mirror trading is a method of trading in which a trader selects from a host of trading strategies and personally selects which of those strategies they .

Mirror Trader is a very popular social and copy trading platform where many novice Forex traders have started their trading journey. While there are many propriety copy trading platforms developed by brokers, Mirror Trader still takes a prominent spot and many premium brokers offer the platform as one of the options to access the market. What Is Mirror Trading? If you have newly started your forex trading, you might have experienced that it’s not easy to design a profitable trading system, nor is it easy to keep up with the market movements all the time. 

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A forex strategy developed in the late s that allows investors to copy the forex trading behavior of experienced and successful forex investors from around the world. Mirror trading was initially only available to institutional clients but was later made available to retail investors. Read this article and find out what forex mirror trading is . Mirror trading is a strategy that has recently been developed in forex market. With this strategy, it is possible to copy the trading behavior of the most experienced investors in the currency market that have proven to be highly successful.

InvestinGoal» Social Trading Secrets» What is Forex Mirror trading, How it works and What’s the best platform You have probably heard more about Copy trading and, in particular, Social trading in these recent years and months. Mirror Trading is a forex strategy that allows investors to copy the trades of experienced and successful forex investors. Mirror trading .

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