The trading platform is a piece of software offered most often Free by your broker that you need to install on your computer. With the trading platform you will be able to do everything you need to do to successfully trade. You will be able to draw and analyse charts, place different types of trades and definitely manage the trade when in action apart from other important options. You will also need a high speed and reliable internet connection.
A good trading platform must be
- easy to draw charts in multiple time frames.
- easy to draw and analyse charts based on bars and candlesticks.
- easy to plot on all standard technical indicators
- clear charts with clear graphics
Furthermore the trading platform must offer
- easy to place orders at market. Limit and stop orders are highly important to
- easy to track open orders with current price quotes and P/L
- easy to modify open orders (stop losses and take profits)
- report statements
- fast execution on orders
The most popular trading platform suitable for the beginners is MetaTrader 4. It is the easiest to use although not the best. But it suits is purpose for beginners / intermediate traders.
