Mirror trader FAQ. Frequently asked question about the Mirror Trader http://english.thirdbrainfx.com

1. Mirror Trader
Frequently Asked Questions
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2. QUESTIONS REGARDING SEMI MIRRORING
1. Who provides the signals presented in the “Live Signals” section?
The signals are provided by all of the strategy providers available in Mirror Trader.
2. How can I execute a signal in my account?
To execute a signal in your account, click on the “Mirror” button. This action will open a
“pop-up window” where you can choose the trade size (amount K) as well as Stop-Loss
and Take-Profit values. The new trades will then appear in the “open positions” section.
3. When I mirror a signal, do I have to close it myself, or does it close
automatically when the strategy provider closes it?
When you set the trade size of the position, you have an option to choose whether you
want the position to close automatically when the strategy provider closes it, or you prefer
to close it by yourself.
If you choose to close the position yourself, an envelope icon will appear next to the “S”
(Signal) icon, in the list of open positions.
4. What can I do if I missed a signal I want to mirror?
If you missed a signal, you can always open this position manually, by clicking on the
rates at the top of Mirror Trader, or in the rates section. Please note that positions that
you open manually, will not be closed automatically, so you have to monitor the position
and decide when to close it.
5. When I “mirror” a strategy’s signal, will it be opened at the current
market rate or at the rate the strategy opened it?
The signal you mirror from a strategy will be opened at the market rate.
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3. QUESTIONS REGARDING MANUAL TRADING
1. How do I place and manage a new manual position?
To open a new manual position, click on the “Buy” or “Sell” rate of the desired currency
pair. Once you click on the rate, a window will appear, allowing you to set the trade size
for the position. The new position will appear in the “open positions” list, from where you
can edit it or close it at any time.
2. How do I add indicators to a chart?
To add an indicator to a chart, open the live chart of your desired currency pair and click
on the indicators icon (second icon on the chart icons bar).
3. Which chart types are available in Mirror Trader?
Mirror Trader offers three chart types: candlestick, line and OHLC. The default chart is
candlestick. To switch to a different chart, click on the “chart type” icon (third icon on the
chart icon bar).
4. Can I set stop-loss and limit values to a new position I open?
Yes – when you open a new position, a pop up window will appear where you can set
your trade size. Click on “Advanced” to set stop-loss and limit values. You may also add
stop-loss and limit values after you opened the position, by clicking on the “edit” icon in
the open positions list.
5. When I open the “Live chart” section, I see the EUR/USD chart. How
can I view a chart of a different currency pair?
To open a chart with a different currency pair, click on the “+” icon in the right-hand
corner of the “Live Chart” section.
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4. QUESTIONS REGARDING AUTOMATIC MIRRORING
1. May I “mirror” any strategy provider I like?
No – Mirror trading is only available with the strategy providers that are listed in the Mirror
Trader platform.
2. How do I know which strategies / signals to mirror?
Tradency provides advanced tools to help you choose strategies appropriate to you.
The “Smart Filter” and “Custom Filter”, for example, will help you filter the strategies
according to your selected criteria. You may also open the strategy card to learn more
about each strategy.
3. How long after I have chosen a strategy will trading begin?
Each strategy sends its trades based on the market conditions and the strategy
guidelines. You can look for its trading frequency on the strategy card or by looking at its
trading history. This gives a rough estimate of trading frequency and aligns expectations.
4. What is T-Score?
T-score is a number between 0 and 10 that summarizes a strategy’s performance over
time. The new T-score has 3 building blocks: long term stability, short term momentum
and activity. You can find the strategy’s T-Score in the performance results table.
5. How can I learn more about the strategies?
More detailed information about each strategy is available by clicking on the strategy
name.
6. What should I do if I find a strategy interesting, but I am still not sure
about adding it to my portfolio?
The platform allows you to add strategies to a “Watch list” which enables you to follow the
performance of any strategy without risk. Once you decide that you want the strategy to
trade for you, simply add it to your portfolio.
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5. 7. When I use automatic mirroring, can I still close a position or change
the stop loss or limit manually?
Yes, you can close or modify an open position. However it may be readjusted again if a
new “modify” order is placed by the strategy provider after the client adjustment.
8. Can I change a strategy’s maximum positions traded?
No, the maximum number of open positions is set when the signal provider registers and
is permanent. You can however control the trade size used for each position.
9. What does the ‘Exposure Meter’ indicate?
The ‘Exposure Meter’ represents the maximum account leverage assuming that all
strategies within the portfolio have opened their maximum number of positions
simultaneously.
Calculated as follows:
[SUM (TRADE SIZE * MAXIMUM POSITIONS)] / (ACCOUNT BALANCE)
The ‘Exposure Meter’ is shown on a scale of 0-100 with anything over 80 (red zone)
considered excessive.
10. Must my computer be online in order to allow Automatic Mirroring?
No - all trade signals are executed on remote servers so you do not need to be online for
trades to be executed on your account. You are only required to connect to the internet to
select your strategies and set your initial money management settings.
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6. GENERAL QUESTIONS
1. Does the practice account have the same functionality as the live
version?
Yes - the practice account is a copy of the live account with the same functionality.
2. May I stop trading at any time?
Yes - you are in control of your account at all times. You may close all your positions and
disable your portfolio whenever you choose.
3. What do the letter icons (A, S and M) represent in the second column
of the open positions?
These letters indicate the position type:
• The “A” icon stands for automatic (the position was opened automatically by a
strategy provider in your portfolio)
• The “S” icon stands for signal (the user mirrored the signal from the “live signals”
section)
• The “M” icon represents a manual position
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