Five Characteristics a Good Trading Platform

My career has seen me trade on many different platforms. Some platforms have been a pleasure and a great place to work. Other platforms made my hair tingle. There are many trading platform options available, with some being terrible and others excellent. See olymtrade login to get more info.

It would be a simple matter of listing the best platforms and ignoring the ones that were not. My mailbox would overflow with lawsuits and cease & desist requests if I followed that approach. So, I have identified some qualities of great platforms and I am going to list them as reasons they are my favorite.

Effectiveness of any platform is directly linked to the quality and quantity of its data feed. Assuming that all platforms are equipped with a good data feed, this article will not discuss it.

1. A good platform will provide you with a variety of charting tools.

You need to be skilled in the art of drawing trend lines, Fibonacci regressions, pivot points, and any other tools traders might require when trading and charting. This is not a requirement to be able to draw these symbols. The process of entering trend lines and other symbol should be simple and easy. The price action on the chart is your primary focus, not the details of how to draw lines.

2. A good platform should not be difficult to understand.

A good platform should not be difficult to set up and read. A 200-page manual is not necessary to be able to use the software. The chart should be simple to read and the index readings clearly and prominently displayed. Platforms that are complex to set-up, or require ongoing maintenance, can cause trader frustration and cost the trader valuable trading time. Also, a quality program will save your settings. The program should open exactly the same day. If you run it the next morning, your settings should show up.

3. A good platform will have a complete set oscillators and indicator.

There’s nothing worse than having a platform with a limited set of indicators and no way to add them to the chart. The functionality of many lower-end platforms is limited to five or six basic indicators. Additionally, good platforms will allow you adjust the time periods and other variables for your own preference. These functions should be easy to do and shouldn’t take much time. These functions should be obvious and not require the user to read the 200-page manual.

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