Mirror Trading Your Own Trades

There is a huge benefit to mirror trading your own trades, what is it? Well, actually there are a few and after watching this video you will see how simple changes make all the difference.

 

Note: The Q&A will automatically play after the training video.

 

Why Mirror Trade?

When you mirror trade you gain better control over money management without changing the original strategy. This is especially true when you are running an EA or a managed account where limitations exist.

Another benefit is you can use different broker’s feed to generate the “signal.” Have you ever had an EA or strategy that worked well with one broker and not with another that you want to trade with?

To avoid this problem you could run the system at the broker it works well with and then mirror/copy the trade to your other broker account(s).

One of the biggest advantages is the ability to flip/invert bad trades, turning losing trades into winners.

 

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How Does Market Depth Work?

After the training last week, I thought it would have been a good idea to give you some actual examples of how market depth works. Watch how I can move and “manipulate” the Forex price just like banks and brokers do.

 

Note: The Q&A will automatically play after the training video.

 

What Is Market Depth?

The definition of market depth is simply a list of both buy and sell orders that you can see on a platform.

It is displayed as two columns, one for bids and one for offers along with the prices and volume amounts at each of those levels in real-time.

Some brokers refer to this information as “Level 2″ quotes and it gives you an idea of how much liquidity is available on both sides of the market.

 

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