When you select a strategy that you want to copy into your account, you can define a certain number of parameters to control your risk and the amount you invest (see image below):
In our experience, these parameters provide good control over risk management.
Your portfolio will show you the total account balance and exposure with a leverage indicator in the event that the maximum number of positions is open at the same time. A visual representation (Exposure Meter) also displays your account's exposure.
Open trades are displayed in the live graphic display. You can manually close these positions or change stops/limit levels at any time. The history tab displays all past trades with information on profits and losses.
In addition to automatic mirror trading, the Tradency platform allows you to manually select the signals that you want to follow (semi-automatic mirror trading). You can do this from the "live signals" screen. This screen displays the signals sent by all of the Mirror Trader strategy providers. For each signal, you can view past performance information (from the last 30 days) and the number of people who follow the signal provider. You then have 30 seconds to copy the signal (if you wait too long, the resulting price may be different). The position will be closed when the strategy provider closes the trade, unless you decide to close it yourself. (Click here to open a Tradency demo account)
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