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trading history of a trader goes), along with comments that other traders have made on her performance.
Why would a top-performing trader such as Fatima want to reveal her strategy to the worldwide web? “Traders such as Fatima are getting a lot of feedback and appreciation about what they are doing. Being a Retail trader is a lonely task. Tis way you are able to have people comment and appreciate the way you trade,” says Assia. “Recognition is very entrenched in human behaviour. Tis is a chance to step into the light. People have strong personal recognition when they are followed by 1,000 or 2,000 followers. Some people enjoy this almost as much as the monetary incentive.”
Mirror trading
Tradency, a Forex auto-trading platform launched at the end of 2005, has helped pioneer another popular form of social investment network trading, known as mirror trading. In the ‘mirror-trading’ model, the trade signal of an expert trader is copied, but investors are allowed to set risk levels that may be higher or lower than those of an expert trader.
Tradency’s Mirror Trader platform, which features a database of different trading strategies, offers users the options of trading in an automatic, manual or ‘semi- mirroring’ fashion. Users opting for the automatic function passively follow a trading strategy which has a good track record. Users can combine such a strategy by executing trades manually. Tose choosing a semi-mirroring strategy, can monitor the buy and sell trading signals of strategy developers in real-time and decide whether to mirror the trades or not. “You don’t need to set a predefined system to your portfolio. You are getting real-time signals from all
Lior Nabat
“You don’t need to set a predefined system to your portfolio. You are getting real-time signals from all the strategies that are displayed on the Mirror Trader platform,”
the strategies that are displayed on the Mirror Trader platform,” says Lior Nabat, president and CEO of Tradency. “You can pick and choose which strategies you would like to execute, signal by signal. Meaning by each trade your strategy is doing, you see the user feed and you automatically join or mirror this trade.”
Collective2 (C2) is another US-based social investment network which follows the mirror trader model. C2 offers its users a library of more than 15,000 trading systems for asset classes which include Forex, along with equities, futures and options. “You can come to C2 and propose yourself as a vendor and charge a fee of whatever you think your signals are worth. But it is a flat time-based fee, not based on account size or trading volume,” says Matthew Klein, chief executive officer at C2.
Tradency’s Mirror Trader platform
In what looks like a race for critical scale in the social investing field, the Aite Group survey identified ZuluTrade as one of the fastest growing firms. It reported a quarterly account increase of 15,000 new accounts – eclipsing the 15,000
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