Gregersen Ploug posted an update 1 year, 2 months ago
We’ve certainly traded on the various trading platforms through the entire course of my career. Some platforms have been fantastic plus a sheer pleasure which to operate, and other platforms made me want to set my hair unstoppable. The variety superiority trading platforms accessible to traders is different from awful platforms to excellent platforms.
Word to meet, I’d personally simply list the platforms which can be high quality and list the platforms which were awful. Unfortunately, if I took that approach the pile of lawsuits and cease and desist would’ve my mailbox overflowing. Therefore i have selected some characteristics of great platforms and enumerate why I do think they’re particularly effective.
Of course, great and bad any platform is proportional on the quality of the data feed. For that reasons like this post, we’ll assume all platforms provide an adequate data feed and simply eliminate that variable from your discussion.
1. An excellent platform carries a quality list of charting tools at your disposal.
When trading and active chart it is important to have the ability to lure trend lines, Fibonacci retracements, pivot points, plus a host of other tools that traders apart from myself may deem necessary. You ought not need to have a degree in physics to be able to facilitate the drawing of such symbols. The process for entering trend lines along with other symbols needs to be effortless and accomplished without excessive thought. All things considered, your main concentrate trading will be the price action around the chart not figuring out tips on how to set up lines on your chart.
2. An excellent platform needs to be sorted and interpret.
A fantastic platform must be easily readable and hang up. It’s not necassary to have to read a 200 page manual in order to operate the application. The chart needs to be clear and simple to understand as well as the index readings should be legible and prominent. Platforms which are difficult to set up, or require daily maintenance to set up waste valuable trading some time and ultimately cost the trader money. An excellent program will also useful settings from your previous day so when you start this system the next day the precise settings should appear, you should not need to add your oscillators and indicators each day.
3. An excellent platform features a complete pair of oscillators and indicators.
There’s nothing more annoying than utilizing a platform that does not have a whole group of indicators or even a method to add those indicators on the chart. Many lower end platforms feature five to six basic indicators and that is the extent of these functionality. Further, an excellent platform should let you adjust routines and other variables within the indicators in your personal preference. Again, it should not take an excessive amount of time and energy to perform these traits. They must be self-explanatory and never require paging through the dreaded 200 page manual to determine how to set a 14 period setting with a commodity channel index.
4. A great platform enables lots exit and entry options.
An excellent trading platform enables you to quickly set the number of contracts you intended trade while offering you the way to set your profit target and stop loss limit. This ought to be a seamless activity and not require excessive time. Most good trading platforms possess a provision that permits you to scale from trade at certain profit points. Further, an excellent platform could have an easily understood trailing stop feature that is certainly all to easy to set up. It’s also wise to have the ability to generate a simple bracket invest a minimal amount of effort.
5. A great platform never fails or crashes
There’s no worse feeling in trading than having an active trade along with the platforms software fails. There is no excuse for software incompatibilities with operating systems. The woking platform will be the essence of one’s profession and may perform as such. This particular requirement is among my pet peeves, when i traded ones on a platform which was very unstable generating for some time and frustrating day. Irrrve never used that platform again, and don’t will. Software designers are very conscious of the design flaws inherent in trading platforms and there’s absolutely no belief that these flaws really should not be addressed in the manner which insurers the trader of the crash free trading experience. There is nothing worse than buggy software.
There are several other inherent flaws in trading platforms software, these five jump out as deal killers in my book. I will not tolerate some of these flaws and can quickly change platforms only encounter these issues with any frequency. Of course, a one-time glitch should be expected. But a consistent and reoccurring glitch in trading platforms software packages are inexcusable.
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