Let K x, y be the free associative algebra of rank 2 over an algebraically closed constructive field of any characteristic. We present an algorithm which decides whether or not two elements in K x, y are equivalent under an automorphism of K x, y . A modification of our algorithm solves the problem whether or not an element in K x, y is a semiinvariant of a nontrivial automorphism. In particular, it determines whether or not the element has a nontrivial stabilizer in AutK x, y . An algorithm for equivalence of polynomials under automorphisms of C[x, y] was presented by Wightwick. Another, much simpler algorithm for automorphic equivalence of two polynomials in K[x, y] for any algebraically closed constructive field K was given by Makar-Limanov, Shpilrain, and Yu. In our approach we combine an idea of the latter three authors with an idea from the unpubished thesis of Lane used to describe automorphisms which stabilize elements of K x, y . This also allows us to give a simple proof o...