Mirror Trader is a trading platform by Tradency, with a year experience put into it. Developing a user-friendly and easy to use trading platform which is sophisticated and refined, Tradency hit the jackpot becoming one of the best-known social trading platforms Tradency / Mirror Trader forex brokers Tradency is the software provider of Mirror Trader – a sophisticated, yet user-friendly forex platform for trading live signals. Mirror Trader is preferred by many traders for a couple of reasons: it offers everything a trader needs for Aug 10, · AxiTrader, an Australian forex and CFD broker, announced it has teamed up with the fintech company Tradency to provide the mirror trading platform Mirror Trader to its clients.. The platform allows traders to choose from thousands of predefined trading strategies, accounts and transaction styles from other traders, based on complex algorithms, and copy their trades and
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Tradency invented mirror trading in The company is positioned primarily as a technology provider for forex brokers, so you cannot open a demo or live account on Tradency's website. You must go through one of their forex broker partners, such as AvaTrade click here to open a demo account. Tradency's Mirror Trader platform is available in demo or real mode. It provides you with the usual trading tools to analyse currency pair charts, but most brokers offer these very same features.
The real benefit that Tradency offers is that you can copy a hundred forex strategies. You can also trade manually and view the percentage of purchases and sales of the other Mirror Trader platform users for each currency pair. Forex strategy providers are not obligated to emit their trading signals from a live account, but their strategies are tested by Tradency for 1 month via a minimum of forex mirror trader tradency trades before being added to Mirror Trader's ranking.
Obviously, it would be preferable for the strategy providers to use real accounts, or at least for us to be able to know if these traders are using a demo or a real account. The quality of traders and their strategies is important when evaluating the effectiveness of a social trading network. As a matter of fact, most of Tradency's Mirror Trader strategies are expert advisors EA.
In other words, they're programs or "trading robots" that automatically implement strategies based on rules that are pre-defined by the developer. Apparently, the quality of these strategies is not homogenous, a few of them are effective while others are quite bad.
The strategy providers are paid for clients who copy the signals with a real account. There are two payment structures, which depend on the broker that is used:. Compensation isn't based on the success of a strategy which is the case with other social trading and mirror trading networks. However, when a strategy loses money users stop copying it.
There are quite a few Mirror Trader strategies that have positive historical returns. The strategies rely heavily on automated systems EAs instead of human traders and each strategy is linked to a single currency pair; you will therefore need to spend a bit of time monitoring the evolution of the strategies you've selected and change them if necessary.
An experienced professional trader can use multiple strategies on different currency pairs, basing his selection on market conditions; Tradency's strategies are available for each currency pair, it's up to you to choose the combinations you feel are best. Tradency is compensated via a commission on each trade or a flat monthly fee it charges each broker. Some brokers will therefore charge you an additional fee per trade to use Tradency's Mirror Trader. There are no extra charges if forex mirror trader tradency use the AvaTrade brokerage, forex mirror trader tradency.
To search for a strategy to copy that matches your trading style, Tradency provides you with a variety of filters and a complete history of past and current trades. In this respect, Tradency is totally transparent, forex mirror trader tradency, forex mirror trader tradency is not the case with all mirror trading networks. You can even download data to Excel to perform your own analysis. However, drawdown is calculated solely in terms of the funds in your account and completed trades, it doesn't take into account open trades, forex mirror trader tradency.
To assess the risk of a strategy, forex mirror trader tradency, drawdown forex mirror trader tradency always be calculated by measuring the maximum loss of open positions, forex mirror trader tradency. A serious investor will not want to copy a strategy that regularly risks a margin call, even if it posts a positive performance.
The drawdown of open positions is also forex mirror trader tradency important to combine multiple strategies on a same account and to manage overall risk.
The settings available to manage your mirror trading account allow you to define a fixed number of lots for each strategy, the maximum number of trades and the maximum loss you will tolerate. You can also view open positions and close them from the platform at any time. RoboX is a solution that solves a problem forex mirror trader tradency in mirror trading systems: it offers a simple but powerful tool to manage investments based on trading algorithms. It also prevents the human tendency to follow a leader in large number so as to avoid problems linked to a lack of liquidity, especially for scalping strategies that rely on capturing a few pips at a time.
From the user's perspective, all you have to do is log on to the website, answer a few simple questions about your goals and your risk appetite and the system will present you with a basket of tailored strategies and recommendations to diversify your money across multiple strategies. The whole process takes about thirty seconds. For those looking for more control, positions can be closed manually at any time and a switch is available to put the system into user-approval mode to execute the signals.
This system is ideal for investors seeking exposure to the foreign exchange market but who don't have the time or desire to learn or adjust the strategies they are following when market conditions change. Tradency doesn't offer any social interaction features on its Mirror Trader platform. The only interaction you have with strategy suppliers is one-way, you're able to read the strategy description, and that's it.
Some are forex mirror trader tradency and useful, while others are non-descriptive and useless, forex mirror trader tradency. Users cannot comment on their experience with a strategy, but you can actually see the amount of money that is invested in each strategy, forex mirror trader tradency. Forex Brokers. Search this site Tradency Mirror Trader Our review.
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Mirror Trader Strategy Card
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Aug 26, · Anyone tried demo or live account with Tradency partners i am testing all leading system i fould every system of tradency gives different profit in different partners website. For example on in FXCM's FSS Meta Diffusion III gives profit of $ and the Mirror Trader is a trading platform by Tradency, with a year experience put into it. Developing a user-friendly and easy to use trading platform which is sophisticated and refined, Tradency hit the jackpot becoming one of the best-known social trading platforms Mirror Trader v
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