Frequently Asked Questions
Questions regarding Semi Automatic Mirroring
Who provides the signals presented in the “Live Signals” section?
The signals are provided by all the strategy providers available in the Mirror Trader.
How can I execute a signal in my account?
To execute a signal in your account, click on the “Mirror” button. This action will open a “pop-up window” where you can choose the trade size (amount K) as well as Stop-Loss and Take-Profit values. The new trades will then appear in the “open positions” section.
When I mirror a signal, do I have to close it myself, or does it closes automatically when the strategy provider closes it?
When you set the trade size of the position, you have an option to close it manually or to have it close automatically when the strategy provider closes it.
If you choose to close the position yourself an envelope icon will appear next to the “S” (Signal) icon, in the list of open positions.
What can I do if I missed a signal I want to mirror?
If you missed a signal, you can always open this position manually, by clicking on the rates at the top of the Mirror Trader, or at the rates section. Please note that positions that you open manually, will not be closed automatically, so you have to monitor the position and decide when to close it.
When I “Mirror” the signal from a strategy, will it be opened at the current market rate or at the rate the strategy opened it?
The signal you mirror from a strategy will be opened at the current market rate.
Questions regarding Manual Trading
How do I place and manage a new manual position?
To open a new manual position, click on the “Buy” or “Sell” rate of the desired currency pair.
Once you click on the rate, a window will appear, allowing you to set the trade size for the position. The new position will appear in the “open positions” list, from where you can edit it or close it at any time.
How do I add Chart Indicators?
To enter chart indicators, open the live chart of your desired currency pair and click on the indicators icon (second icon on the chart icons bar)
Which chart types are available in the Mirror Trader?
The Mirror Trader offers 3 chart types: Candlestick, Line and OHLC. The default chart is Candlestick. To switch to a different chart, click on the “chart type” icon (Third icon on the chart icon bar)
Can I set Stop-Loss and Limit values to a new position I open?
Yes – When you open a new position, a pop up window will appear where you can set your trade size. Click on “Advanced” to set Stop-Loss and Limit values. You may also add Stop-Loss and Limit values after you opened the position, by clicking on the “edit” icon in the open positions list.
When I open the “Live chart” section, I see the EUR/USD chart. How can I view a chart of a different currency pair?
To open a chart of a new currency pair, click on the “+” icon in the right hand corner of the “Live chart” section.
Questions regarding the Automatic Mirroring
May I Mirror any Strategy Provider I like?
No – Mirror trading is only available with the strategy providers that are listed in the Mirror Trader.
How do I know which strategies to mirror?
Tradency provides advanced tools to help you choose strategies appropriate to you.
The “Smart Filter” and “Custom Filter”, for example, will help you filter the strategies according to your selected criteria. You may also open the strategy card to learn more about each strategy.
How long after I have chosen a strategy does the trading begins?
Each strategy sends its trades based on the market conditions and the strategy guidelines. You can look for its trading frequency on the strategy card or by looking at its trading history. This gives a rough estimate of trading frequency and aligns expectations.
How can I learn more about the strategies?
More detailed information about each strategy is available by clicking on the strategy name.
What should I do if I am interested in a specific strategy, but I am still not sure about adding it to my portfolio?
The platform allows you to add strategies to a “Watch list” which enables you to follow the performance of any strategy without risk. Once you decide that you want the strategy to trade for you, simply add it to your portfolio.
When I use automatic mirroring, can I still close a position or change the Stop Loss or Limit manually?
Yes, you can close or modify an open position. However it may be readjusted again if a new “modify” order is placed by the strategy provider after the client adjustment.
Can I change the number of max positions of a strategy?
No, the maximum number of open positions is set when the signal provider registers and is permanent.
What does the ‘Exposure Meter’ indicate?
The ‘Exposure Meter’ represents the leverage of a portfolio should all the strategies open up all their max positions simultaneously. Calculated as follows: [Sum (Amount (k)*Max Pos)]/(Account Balance). The ‘Exposure Meter’ is shown on a scale of 0-100 with anything over 80 (red zone) considered excessive.
Must my computer be online in order to allow Automatic Mirroring?
No - All trade signals are executed on remote servers so you do not need to be online for trades to be executed on your account. You are only required to connect to the internet to select your strategies and set your initial Money Management settings.
Does the practice account have the same functionality as the live version?
Yes - The practice account is an exact copy of the live account with the same functionality.
May I stop my trading at any time?
Yes - You are in complete control of your account at all times. You may close all your positions and disable your portfolio whenever you choose.
What is the T-Score?
The T-score is a number between 0 and 10 summarizes a strategy’s performance over time. The new T-score has 3 building blocks: Long term stability, Short term momentum and Activity.
You can find the strategy’s T-Score in the performance results table.
What do the letters icons (A, S and M) represents in the second column of the open positions?
These letters indicate the type of the position:
• The “A” icon stands for automatic (the position was opened automatically by a strategy provider in your portfolio)
• The “S” icon stands for signal (The user mirrored the signal from the “live signals” section)
• The “M” icon represents a manual position.