First steps to copy trading with Mirror Trader

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Hello, friends!

Successful people use the concept of “money makes money”. In order to make the investment profitable, you need to have a lot of knowledge. As you know, investing in the financial market is one of the most profitable and promising classes. Surely, you’ve heard about PAMM accounts earlier, where you invest money in managing a successful trader. To date, there is another type of investment - in LAMM-accounts. This article will tell you about automatic and manual copying of successful traders’ trades. All trading operations are performed through the platform Mirror Trader, which is available from the company AMarkets.

Mirror Trader is a platform for digital trading, created by the software developer for work in financial markets, Tradency. The main essence of the work is the opportunity to use trading experience and examples of trades of more experienced traders on your account. The main users of this program are traders who prefer a passive form of earnings to endless market monitoring, as well as those who have just started mastering market science, and have not yet gained experience for self-profit.

Of course, it is not worth it to limit the service audience to beginners and amateurs of passive earnings. The platform will also be useful to experienced speculators - the functionality of the program allows you to earn in semi-automatic or manual mode, thus providing the opportunity to open orders independently in parallel with the work of Mirror.

So, what is MirrorTrader as a service for Forex? And what are the advantages of using it?

As a matter of fact, the platform is a web addition to the trading terminal MT4, which allows you to use trading strategies of traders, with a maximum rate of return. This technique is called copy trading, or mirror trading.

Copy trading: what is its work principle?

The idea of using the trading algorithms of more experienced players in their work in the markets is not new. But the idea of creating a special service to automate this process was very fresh and successful. The creators enter into an agreement with the authors of successful trading strategies, which are then used by Mirror clients.

Thus, employees gain access to the experience of people who have experience in trading, and whose working methods have brought financial success. This is a very important fact since without experience your first attempts to make trades are likely to be doomed to failure, or the yield will be small. It is an experience that gives this tool such value, increasing the probability of a cherished profit, and reducing risks.

The web shell interface provides access to three hundred strategies that can be used in the work. Strategies are carefully selected by the developers, and the yield of most of them does not fall below 80%.

As we said above, you can trade independently, taking as a basis this or that algorithm, or you can put the work in automatic mode, trusting your funds with a proven sequence of trades. The MirrorTrader configuration includes three modes:

  • auto;
  • semi-automatic;
  • manual.

AMarkets broker grants access to MirrorTrader directly from our website. To start using the platform in your trading, you have to go through a simple registration on the site and open a personal account.

Start trading in MirrorTrader

To start using mirrored trading, you need to integrate the Mirror platform into your trading terminal. The convenience of MirrorTrader is that this is not a separate software, and it does not require a long download or installation on the computer. It is opened directly in the browser window.

As an example of trading with AMarkets, we will show step by step how to start trading with Mirror.

  • Follow the registration procedure on the site and open a trading account with the broker.
  • Download the trading platform MT4 or MT5 from the download center at the bottom of the page.
  • You can go to the MirrorTrader platform both from the main page of amarkets.com or from your personal account.
  • Register in the platform using the login/password of your trading account.

Now you can see open orders, quotation charts, a list of strategies for trading, and the state of the account. To use strategies you will need $ 100 for one strategy - successful algorithms with a smaller deposit are not used.

What does mirror trading offer?

The use of copy trading programs avoids a number of shortcomings inherent to the trading path. In the case of Algorithmic trading, work follows a well-defined order of actions, due to which:

  • the influence of the human factor is excluded;
  • an optimal distribution of funds occurs;
  • Trade is carried out according to a scenario with historical background.

As well-known, many events in trading that took place in history are repeated in the future with high probability.

Mirror trading has its drawbacks. For example, it is likely that the scenario for a particular trading instrument will begin to develop unpredictably, due to important fundamental events. In this case, it is not uncalled for to adjust your actions and exit the chosen strategy. Of course, an objective assessment of such events is possible only by experienced traders, and newcomers should better stick to the chosen algorithm.

For those who are interested in the prospect of earning through copying trade signals, it makes sense to start using this service right now.

Regards, Michael

ForexTraderPortal.com

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