Tradency, the FX technology firm, has teamed up with Japanese brokers FXTF to roll out a new trading tool: a mirror-trading platform that allows traders to copy and apply strategies that have been developed by other FX traders.
It also allows traders to switch between strategies, open, close or modify positions, or to switch back to manual trading.
Lior Nabat, president and CEO of Tradency, says: “Tradency is delighted to launch our partnership with FXTF and extend our reach into Japan’s dynamic forex trading industry. We believe that our mirror-trading platform represents a leap forward in forex trading technology that offers great benefits to traders. Our new partners at FXTF understand and appreciate these benefits and welcome the introduction of this innovative trading methodology. Tradency is excited to be working with FXTF and we hope this signals the start of a long and fruitful relationship with them.”
Does that mean that now, not only will the Ms. Watanabe sector all be facing the same way but it can also gravitate towards precisely the same entry and exit levels?
Oh dear. Hopefully it won’t be a case of: “Mirror in haste, reflect at leisure”.