How to select automatic strategies on Forex Market with Mirror Trader

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MIRROR TRADER QUICK START GUIDE on STRATEGY

description

What are the rules to select a good automatic strategy on the forex market ?With the help of the Mirror Trader Application, things become easier...let's explore it.

Transcript of How to select automatic strategies on Forex Market with Mirror Trader

Page 1: How to select automatic strategies on Forex Market with Mirror Trader

MIRROR TRADERQUICK START GUIDE

on STRATEGY

Page 2: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGIESTo find a strategy go to STRATEGIES and click on the double zoom

OrderThe stratégies likeyouwant…

Page 3: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGIES

Add criteria to your search….filter by ascendingorder ect..

Page 4: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGIESClick on the name to open the strategy card

Page 5: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGIES CARDCheck the T-SCORE (>9 is very good)

Check the number of pips gained during the period (here last 30 days) and the number of Trade

Page 6: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGY CARD

Tabs show you the history of the strategies, the position opened of the strategies and the statistics…

Page 7: How to select automatic strategies on Forex Market with Mirror Trader

STRATEGY STATISTICs

THE PROFIT FACTOR AND

THE MAXIMAL DRAWDOWN (MAXDD) ARE

THE MOST IMPORTANT

DATA

Page 8: How to select automatic strategies on Forex Market with Mirror Trader

RULES TO SELECT STRATEGY• 1 : SEE IF THE STRATEGY HAVE POSITIVE PIPS

on THE PERIOD

• 2 : SEE IF THE MaxDD is inferior to 10 % *of your balance With lot of 10, you

need 12’000 $ as balanceWith micro lot (1), you need 1’200 $ as balance

*10 % for low risk25% for medium

risk50 % for high risk

Page 9: How to select automatic strategies on Forex Market with Mirror Trader

RULES TO SELECT STRATEGIES

• 3 – SEE te Profit Factor of the strategy

If profit factor is < 1 => BAD STRATEGY for the moment

If profit factor is > 1 and < 2 => Medium Strategy opportunities

If profit factor > 2 => It’s a good strategy

Page 10: How to select automatic strategies on Forex Market with Mirror Trader

RULES TO SELECT STRATEGY

• When you have your answer to 1,2 and 3 questions, you can them decide to act with this strategy or not

– IF you can answer « YES » at the 3 question => GO

– IF you can’t, just see the history of the strategies, the % Win and other data but you need to have « YES » to one question to go with.