The Difference Between Copy Trading and Mirror Trading

22 Oct. 2024

The Difference Between Copy Trading and Mirror Trading

Two popular trading strategies have surfaced in the trading industry, particularly in the Forex and cryptocurrency markets: copy trading and mirror trading. Despite their identical names, they differ in ways that appeal to different kinds of investors. Traders can choose their investment strategies more wisely if they are aware of these variations.

What is a Copy trading?

It is possible that the image of the successful trader can be improved by investors through image trading. People who lack the time or experience to make business decisions may find this option particularly appealing. In copy trading, an investor selects traders to follow based on their trading style, risk tolerance, and historical performance. Once you select a trader, the investor’s account automatically trades with the trader of their choice.

Key Features of Copy Trading:

Real-time execution: Because the trades are visualized in real-time, investors can enter and exit positions at the same time as traders.
Account for individuals: Investors keep their accounts, keeping their funds separate from the traders they follow.
Flexibility: Investors have the option to emulate multiple traders to change their portfolios as needed.

What is the mirror Trading?

Mirror trading takes an automated approach, where trades are executed as predefined. Rather than individual traders, traders often facilitate mirror trading, allowing investors to simulate a specific trading pattern or algorithm Automated systems that monitor market conditions and trade based on set criteria are an example of this.

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The key features of Mirror trading are:

Strategies: As opposed to following individual traders, investors imitate products based on predetermined strategies.
Automation: Mirror trading systems can be used to execute trades without human intervention.
Risk management: Most mirror trading platforms have risk management tools that allow users to define policies such as stop-loss levels.

The main difference between

Trade and Strategy Institute:

Copy trading: Investors choose which traders to follow in copy trading that focuses on individual traders.
Mirror Trading: Focuses on basic trading strategies; Investors follow established guidelines or policies.

The method of execution:

Copy Trading: Based on the activities of the selected trader, trades are executed in real-time.
Mirror Trading: Trading is done using automated algorithms that may not require real-time decisions by individual traders.

Level of Control:

Copy trading: By choosing who to subscribe to, investors can have more control over their investments through copy trading.
Mirror trading: Because transactions rely on computers or processes rather than human traders, mirror trading offers less control over individuals.

AI BOT Features:
AI BOT-Algo Trading and Copy Trading is a web-based platform
AI BOT supports multiple broker
AI BOT allows cross-broker copy-trading
AI BOT supports algo trading from various trading platforms eg. Trading View, MT4/5, Python, Excel, Amibroker, Ninja Trader, etc.
AI BOT supports direct trading in multiple accounts in one click
AI BOT has basket order and one-click trade features
AI BOT can place a trade in thousands of accounts in one click with mili-seconds latency.
AI BOT your trades can copied even when you are not suitable for part-time traders as well.

Check out the pricing details

Price

Conclusion:

Investors who wish to trade in the financial markets, without in-depth knowledge of the market, can benefit from copy and mirror trading Although mirror trading enables strategies and allows for hands work to market through copy trading offers an opportunity to learn from experienced investors You can choose a more consistent strategy

Tips and tricks for successful Copy Trading
Two things you need to know before you start copy trading market