Mirror trading platform – Tradency

The Tradency platform is a gateway to a wide range of tested Forex Mirror trading strategies. It enables automatic real-time execution, based on the trader’s individually selected strategies.

The Tradency platform uses cutting edge technology to provide traders with a user friendly interface, rich graphic indicators and robust execution. In addition, the platform offers innovative trading tools such as smart filters, T-Score and comprehensive, real-time strategy status cards, designed to assist traders in making educated trading decisions.

The Mirror Trading Concept

The Tradency platform introduces Forex traders to the mirror trading concept, a new method in trading that enables traders to ‘mirror’ strategies developed by other experienced Forex traders.

In order to start trading, the trader adds the selected strategies to his portfolio. The platform will automatically execute and manage orders according to specific parameters and conditions as dictated by the chosen strategy.

The Strategies

Tradency cooperates with many experienced strategy developers and tests each strategy thoroughly prior to launch. The platform presents detailed performance data of each and every strategy, allowing the trader to make selections based on a thorough analysis and clear understanding. In addition, Tradency has developed the T-Score which analyzes the strategy’s performance data, while paying extra attention to risk and reward.  A high T-Score indicates that the strategy is performing well under current market conditions.

Tradency - Mirror Trading Platform

Platform Advantages:

  • Mirrors experienced traders’ strategies in real time
  • Advanced tools for selecting strategies according to a trader’s preferences
  • T-Score – Indicates strategies that perform well under current market conditions
  • Visual display of the strategies’ performance
  • Automatic mirror trading and manual trading in one platform
  • Takes advantage of market situations around the clock

Basic guidelines for using Tradency platform

  • The first step in setting up an account is selecting strategies to build your portfolio. Use the Smart Filter to identify suitable strategies according to your specific trading criteria. Simply define three basic trading parameters (initial balance, trade size and time frame) that reflect your preferences and let the Smart Filter find the appropriate strategies. Once completed, simply click on the “+” to add the strategies to your portfolio.
  • The key for successful mirror trading is to select the right strategies for your portfolio. In order to help you make an educated choice, the platform provides detailed information about the past performance of each and every strategy. In addition you can learn more about the strategies, by clicking on the strategy name to view the strategy card.
  • Once you have created your portfolio, the account is active and ready to trade. Each trade generated by one of your chosen strategies will automatically open in your account.
    Tip: Pay attention to the exposure meter that represents the risk level of the portfolio.
  • You can view all your open positions in the “open positions” section. Although the positions were opened by the strategies, you have full control on your account and you can easily close or modify each open position as you see fit.
  • The platform provides various options for visual display of the account status. You can view grids and/or graphs, and even choose between graph styles including bar, pie or curve graphs.

You can easily open a manual position directly from the “currency pairs” at the top of the platform. You can change any or all of the rates displayed as required.
Mirror Trading Forex brokers – AvaFx

The T-Score Explained

“T-score” (Tradency score) is a unique rating system designed exclusively for strategies available on the Tradency platform. The T-Score provides each strategy with a score between 0-10, representing each strategy’s current performance in the market. The higher the score, the better the performance.

The “T-score” is calculated by applying  highly complex statistical and mathematical formulas that combine various ratios with  current data collected on each strategy. The data is analyzed  paying special  attention to the strategy’s reward and risk.  The ‘T-Score’ result represents each strategy’s respective position at any particular point in time.

Why was the T-Score Invented

The ability to accurately assess the performance of each strategy  is key  to successful mirror trading. Traders have to be able to combine and analyze many parameters such as  strategy profit, maximum draw down, win %, and risk adjustment ratio among others,  to make wise trading decisions. Prior to T-score, there was no single parameter or scoring method that  represented the strategy’s overall performance.

In addition, there was no system that tracked fluctuations in the volatile Forex market and notified traders of the changes in the performance of their strategies. Take advantage of the T-Score and open an auto trading account with AvaFx.

For these reasons, Tradency invented the T-Score. By  constantly evaluating  all the strategies available on the Tradency platform,  the tool assigns a unique T-score to the strategy providing the most accurate and up-to-date indication of each strategy’s performance.

T-Score serves as a perfect tool for traders that use Tradency’s platform to evaluate the strategies. With the T-Score, traders are offered  the opportunity to examine not only the profitability of a strategy, but  also  its stability,  risk factor and how well it  adjusts to changes in the market.

“T-score” advantages:

  • Single score simplifies complex assessment of multiple  parameters
  • Strategy performance  assessed though application of  advanced statistical and mathematical formulas
  • Strategy suitability indicated for  specific market conditions
  • Efficient tool for forex traders and money managers