Mirror trading

The mirror trading method allows traders in financial markets to select a trading strategy and to automatically “mirror” the trades executed by the selected strategies in the trader's brokerage account.

Traders can select strategies that match their personal trading preferences, such as risk tolerance and past profits. 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.

Clients may trade one or more strategies concurrently. This flexibility enables the trader to diversify their risk while maintaining complete trading control of their account at all times.

History

Mirror trading is an evolution of automated trading, also known as algorithmic trading. Automated trading in general has witnessed exponential growth over the last few years. This development has been widely accepted by clients at the retail level as it helps overcome the traditional barriers to successful trading. Mirror trading has certain distinctions from program trading. Mirror trading is a concept that allows traders to copy or track trades from other traders. These other traders can come in the form of system developers, manual traders or financial institutions. Mirror trading allows a trader to choose strategies. The trades are delivered and executed automatically with entry and exit points on multiple currency pairs. Clients have ability to click and choose from a vast supply of trading strategies.

Success in forex also depends on the amount of knowledge you have.The job of reducing the risk of losing your money due to poor Trading Knowledge or by getting swindled by the broker you Choose is entirely Yours.An automated trader or Mirror Trading is the one trading his trades relying on a Robot. After Placing the trade he walks away or goes for a swim.YOUR success depends UPON the Broker you choose. The broker can manipulate you Mirror Trading or Automated Trading using his software and drain your account when you return after the SWIM.http://forexinternationaldesk.com

External links

• Mirror Trading
• Mirror Trading definition
• How Mirror Trading Works
• Daily Forex, August 2009
• Investopedia, March 2011

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Forex Trading