Forex Mirror Trading: Copy Our Profitable Trades
Trying to develop or master a forex trading strategy can be a frustrating and in most instances an expensive experience. Thankfully, trading has come so far over the years that you do not need to go through all that to become profitable. There are experts who have decades of experience learning the ins and outs of foreign exchange trading and know how to get good results on a consistent basis. In the past, you had to learn the strategies of the best traders and then try to replicate them as closely as you could. However, we now have a better solution – mirror trading.
All About Mirror Trading?
Mirror trading, also known as copy trading is a strategy that allows you to copy the trades of the most successful and experienced investors in the currency markets. While initially available only to institutional investors, it was only recently opened to retail investors. The biggest advantage of copy trading is that it is an automated strategy that takes away the emotion from trading decisions. Moreover, the strategy can make it possible to copy the strategies of successful traders from anywhere in the world.
How Mirror Trading Works
As a copy trader, you will get access to the details and histories of tens of strategies from the trading platform server. You can then choose an algorithmic trading strategy that you like based on your desired currency pairs, investment capital, risk tolerance, and investment goals. For instance, if you have a low risk tolerance, you need to copy a strategy that provides lower maximum drawdowns. Mirror trading often works as an automated process that duplicates the trades of successful traders in your own account.
Characteristics of Mirror Trading
You get to choose from tens of automatic algorithmic trading strategies from a server or from a signals service sent to your phone or email.
Make sure that you subscribe and follow the strategies that are aligned to your investment goals and risk profile.
Copy the strategy you prefer into the account in case of server platform or manually execute trades you like if you are using a signals service.
Our Mirror Trading Service
While we provide copy trading at ForexTrdr, we leave it to you on when to enter or not enter a trade. What makes us one of the best mirror trading is that we provide forex trading bootcamps and online courses so that you can learn how to trade on your own. The courses include everything from the basics to advanced techniques such as mindset, charting, fundamental and technical analysis. These ensure that you are well versed on how to use our trading signals to decide when to enter or not enter into a trade.
Benefits of Our Forex Signals Service
Copy trading is more transparent as compared to automated trading methods. Some of the advantages that our clients get from our forex signals service include:
You get to select from tens of strategies chosen by a team of experts with more than twenty-one year’s investment bank trading experience. The strategies are sent to your phone daily and you can select a strategy that aligns with your financial or retirement ambitions.
Aside from taking the emotion out of your trading, the signals service is very convenient as it will only take about 15 minutes a day to place your trades on your PC, laptop, or mobile. This is because you do not have to spend hours doing analysis as the experts have done all the work for you.
You get to see the live results of the trading strategy over time. We have a track record of the successful trades executed using the strategy. You can also check out the performance of the strategy on the TradingView account, which shows live trades that we have executed on our own accounts. In addition, we have tons of Google Verified and Trustpilot reviews from satisfied clients that have been using the forex signals service with much success.
You get to see all kinds of criteria about the strategy including the currency pairs, the number of profitable trades, losing and winning percentage, average loss, and average win and how long the strategy has been live on the trader's account. You also get access to the maximum drawdown of the strategy, which is one of the most important statistics. With such data, you can avoid strategies where the maximum drawdown is too high that it could wipe you out.
You get to decide on what trades you want to take, while also providing you with details and explanations into how we enter into trades. This makes it easy to learn even as you mirror the strategies of other traders. This will make you better at choosing the best strategies.
The service costs as little as £25/month for Associate Access and £75 for VIP Access. What is even better is that there is no minimum period of membership, and you can always leave anytime you want.
Copy trading is one of the best things that you could get as a beginner in forex. Nonetheless, while you get access to tens of strategies, it is important to break down what each strategy can offer and what it can take away. The only way to determine this is to have access to strategies with a long history of trades. Most importantly, you need to find a strategy that has maximum drawdowns that you are comfortable with or ones that you are certain will not lead to huge losses or even wipe out your account. Nonetheless, it is important to remember that markets are in a constant state of flux and past performance is not always an indicator of future results.