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TRADENCY MIRROR PLATFORM DESCRIPTION
Mirror Trader – Version 1.2
Mirror
Trader 1.2 presents new features, designed to provide traders with
better control and management tools for their trading accounts
Stop and limit values for strategies
HIGH
RISK WARNING: Foreign exchange trading carries a high level of risk
that may not be suitable for all investors. Leverage creates additional
risk and loss exposure. Before you decide to trade foreign exchange,
carefully consider your investment objectives, experience level, and
risk tolerance. You could lose some or all of your initial investment;
do not invest money that you cannot afford to lose. Educate yourself on
the risks associated with foreign exchange trading, and seek advice from
an independent financial or tax advisor if you have any questions.
Warning
of risks and responsibilities. FX-PQ Forex Quebec or every person
having a link with FX-PQ Forex Quebec will accept no responsibility for
any losses related to the speculation or any damage related to the
confidence on the information contained on this site, or quite other
site belonging to FX-PQ Forex Quebec or his owners. The information, the
data, the quotations, the indications, the graphs and the signals of
purchase and sale of the forex currencies marcket are published only in
title area codes and can not be exact and can differ from the real price
of the market and are not thus convenient for purposes of trading.
Please be completely informed about the risks and the costs related to
trading on financial markets and FX-PQ Forex Quebec will
assume no responsibility for the losses related forex to trading which
you could incur because of the use of these data.
Copyright by FX-PQ Forex Quebec © 2011
Forex Tools
Forex International
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The
Mirror Trader uses cutting edge technology to provide traders with a
user friendly interface, rich graphic indicators and robust execution.
In addition, the platform offers innovative trading tools such as smart
filters, T-Score and comprehensive, real-time strategy status cards,
designed to assist traders in making educated trading decisions.
The Mirror Trading Concept
The
platform introduces Forex traders to the mirror trading concept, a new
method in trading that enables traders to ‘mirror’ strategies developed
by other experienced Forex traders.
In
order to start trading, the trader adds the selected strategies to his
portfolio. The Mirror Trader will automatically execute and manage
orders according to specific parameters and conditions as dictated by
the chosen strategy.
The Strategies
Tradency
cooperates with many experienced strategy developers and tests each
strategy thoroughly prior to launch. The Mirror Trader presents detailed
performance data of each and every strategy, allowing the trader to
make selections based on a thorough analysis and clear understanding. In
addition, Tradency has developed the T-Score which analyzes the
strategy’s performance data, while paying extra attention to risk and
reward. A high T-Score indicates that the strategy is performing
well under current market conditions.
Basic guidelines for using the Mirror Trader
*
The first step in setting up an account is selecting strategies to
build your portfolio. Use the Smart Filter to identify suitable
strategies according to your specific trading criteria. Simply define
three basic trading parameters (initial balance, trade size and time
frame) that reflect your preferences and let the Smart Filter find the
appropriate strategies. Once completed, simply click on the “+” to add
the strategies to your portfolio.
*
The key for successful mirror trading is to select the right strategies
for your portfolio. In order to help you make an educated choice, the
Mirror Trader platform provides detailed information about the past
performance of each and every strategy. In addition you can learn more
about the strategies, by clicking on the strategy name to view the
strategy card.
*
After you identified the strategies you want to trade for you, it is
time to set your risk management. Start by setting your trade size for
the strategy. This will determine the trade size of each position opened
by your selected strategy. In addition you also have an option to set
an approximate loss limit for each strategy in your portfolio, by using
the 'pause' feature. When the strategy reaches the Pause level, the
strategy is automatically inactivated.
* The Mirror Trader provides various options for visual display of the account status.
You can view grids and/or graphs, and even choose between graph styles including bar, pie or curve graphs.
* You can easily open a manual position directly from the “currency pairs” at the top of the platform.
You can change any or all of the rates displayed as required.
*
Once you have created your portfolio, the account is active and ready
to trade. Each trade generated by one of your chosen strategies will
automatically open in your account.
Tip: Pay attention to the exposure meter that represents the risk level of the portfolio.
*
You can view all your open positions in the “open positions” section.
Although the positions were opened by the strategies, you have full
control on your account and you can easily close or modify each open
position as you see fit.
Traders
using Tradency's Mirror Trader will be able to control losses of
strategies, by setting stop and limit values for each strategy they add
to their portfolio. The values will affect all the trades opened by the
strategy.
New features in the strategy card
In version 1.2 the strategy card can be opened from every section in the platform, making it more accessible for users.
In
addition, new graphs and information were added to the strategy card,
in order to make it easier for the user to view and analyze the
performance results of the strategies.
Mirror Trader
The
Mirror Trader is a gateway to a wide range of tested Forex trading
strategies. It enables automatic real-time execution, based on the
trader’s individually selected strategies.
