Mirror Trading is the core concept behind the unique offering of the Mirror Trader, Tradency’s innovative trading platform. The Mirror Trader provides technology for retail Forex clients that, until recently, had only been available to institutional clients.
The Mirror Trading concept is quite simple: Tradency servers keep track of strategy developers’ “Buy” and “Sell” signals. By using the Mirror Trader platform, traders can view, analyze and evaluate signals from experienced Forex traders and execute the signals in their account.
Mirror Trader offers users flexibility by giving them the choice of either automatically mirroring all the trades of the selected strategies or view the strategies’ signals and mirroring only selected trades. Whether in “Automatic” or “Semi Automatic" mode, the Mirror Trader executes the selected strategies trades in real time, conveniently in the trader’s account.
How does mirror trading® work?
Strategy developers from around the world share their knowledge with users of the Mirror Trader platform. Tradency records all these strategy developers’ “Buy” and “Sell” signals and technical indicators and enable the Mirror Trader's users to execute the signals in their own brokerage accounts.
The Mirror Trader platform provides 2 methods for using the Mirror Trading technology:
Semi Automatic Mirror Trading: Traders view all the signals of strategies developers in real time. The user can choose which trades he wants to “mirror” and execute it in his account. Once the trader selected a signal for mirroring, he can decide if he wishes to close the trade manually or he prefers the position to be closed automatically when the strategy provider closes it.
Automatic Mirror Trading: Clients select strategies that match their personal trading preferences, and risk tolerance. Once a strategy has been selected, all the signals sent by the strategy will be automatically applied to the client’s brokerage account. No intervention is required by the client as all the account activity is controlled by the platform.