TRADING PLATFORM AND SOFTWARE – The trading platform is an important part of today’s forex trading activity. The Forex trading Platform connects brokers and clients and allows Forex traders to monitor price movements, live charts, perform analyses, execute orders, and use a variety of other benefits. Along with the advancement of technology, the number of trading platforms is increasingly diverse, even a tool of competition among forex brokers. As a result, it provides many new trading platform options with captivating features for forex traders.
Metatrader 4, or known as MT4, is inevitable the most widely used forex trading platform in the world. MT4 was developed by the company Metaquotes Software Corp and was released in 2005 to be licensed to Forex brokers, who then used it to facilitate online forex trading. As with Web Platform, traders can follow the price movements, perform analyses, and execute orders within the Platform. However, unlike Web Platform which is only available via browser, MT4 must be downloaded and installed first. As it can be downloaded and installed, MT4 is also available in mobile versions and can be applied in various OS (Operating System). The main advantage of MT4 lies in the development and implementation of algorithmic trading/automated trading.
Charting Trading Platform And Software
A number of websites and platforms provide real-time charting capabilities for 1 minute, 5 minutes, and other Intraday charting periods, and some of them do so for free. It can be a lot, depending on your goals.
You may want to keep some considerations in mind, however, before you jump in.
To spend or not spend
Free is good, but although the data may be real-time, it is not “official. “Free real-time data usually comes from just one Data provider, which means you may not see all the price movements happening in the stock or exchange-traded (ETF) funds you use to trade today. You have to pay if you want to receive all the official price data from the market.
Free real-time Data is also not guaranteed to be accurate or timely. When you pay for real-time official quotes, you have some help if the data feeds are unreliable or inaccurate. With a free site, you should take that data.
That said, free real-time trading day charts a very good backup data source on the off chance you lose your quote from your broker. They are also great training tools for new traders who are looking to learn to trade today and create strategies based on how prices move in real-time
TradingView provides real-time stock charts visually and can be customized with hundreds of technical indicators.
TradingView is also a social media site. Traders can easily share their graphs and ideas with each other. You can follow other traders and discuss other stocks and markets. Beware of whom you watch because not everyone sharing charts and ideas is a profitable trader.
Traders can create watchlists and alerts, see which stocks are hot, and even trade directly from TradingView charts by connecting with brokers. They can use the Strategy Tester to test built-in strategies for stock and a certain period of time. Or you can use the Pine Editor function to create your own testing strategy.
TradingView also lets you map the future, Forex, Bitcoin, contracts for differences (CFDs), indices, economic data, and global data, even if timed data is delayed. You can pay for upgrade options that provide additional features and official real-time data for the stock market and future around the world.
TradingView offers the most extensive list of markets, indices, and economic data. You don’t need to change the charting platform to see charts from other markets. It’s also the most socially integrated from a free graphics provider.
StockCharts is one of those charting platforms that offer both paid and free options, but free content has limitations. You can pay as little as $14.95 months for a basic subscription of $39.95 months to subscribe Pro if you want more bells and whistles.
Additional subscriptions, with a somewhat more sophisticated user interface, are available for $24.95 months as well. A one-month free trial subscription on an additional level is available for new customers.
StockCharts free capabilities are pretty powerful. You can do a charting Bar, Line, or Candlestick with over 40 study lines and technical indicators that you can modify, although the free version allows you to plot only three indicators at once.
Data is displayed weekly or daily, but you can only return three years for data unless you pay for it. Another disadvantage option for StockCharts free is that you can not save the screen and the graphics are somewhat bland.
Yahoo! Finance offers a free real-time Quote for the New York Stock Exchange and the NASDAQ-listed stocks provided by NASDAQ Last Sale and also real-time news. And the free interactive charts are pretty good, with a choice of over 100 technical indicators to choose from.
Yahoo! Finance allows traders to create unlimited stock listings to follow and offer daily trading ideas. It also allows you to link to your brokerage account to apply trades based on your mapped strategy.
For $34.99 months or $349.99 per year, you can upgrade to a premium service that offers enhanced charting capabilities, third-party investment research, live chat support, and fewer ads, among other features. A free 28-day trial is available to see if you think the Premium level is worth the money.
Stock Screener Trading Platform And Software
Stock Screener is a service that allows you to select a company, whose shares are listed on the stock exchange. The list of companies and their data is constantly updated in the screener, you just have to set the desired parameters and you will see a list of companies, which meets your needs.
The basic principle of Screener:
- There is no perfect filter because information about the company can not be updated instantly. Therefore, it is recommended to use some screeners. Filters are usually adapted to the stock market of a particular country;
- Screeners addressed to U.S. or European exchanges require English knowledge;
- We do not recommend you to follow the principle “The more filters you have the better. ” It’s important to use it in order of preference. Protective filters can be compared to the use of filters in Forex market indicators: where one filter is insufficient, while 10 filters too much because it distracts you from the main task. It is important to choose the best option suitable for the trader’s strategy;
- Screener analyzes the history of why recommendations are suitable for long-term strategies; They are not good for volatile markets or Intraday strategies.
Below you can see a list of some interesting and easy to use screeners, which provides a large number of filters.
Google Finance Stock Screener
Google Finance Stock Screener is one of the simplest and easiest to use screeners, which contains information about almost all major exchanges of the world. In the top menu, you can select countries, stock markets, and economic sectors. On the basic version of the system displays the company, sorted by four criteria.
Finviz.com is one of the best analytical sites, aimed at the US stock market. Traders use their analysis to determine market trends; The site section “Screener ” is an additional trading tool. It includes not only three American exchanges but also gives the company more filters than the Google Finance Stock screener.
Screener.finance.yahoo.com is a filter is one of the leaders among screeners, but only focuses on the US stock market. The title page of this site offers users to choose one of more than 10 sections: most profitable and most of the stocks resulting in losses for the day, securities undervalued, etc.
Stock-Watcher Is this filter entered first in the search system in case of the question “Stock screener “. It is also focused exclusively on the US stock market, but it has a Russian interface.
Economic Calendar Trading Platform And Software
WHAT IS THE ECONOMIC CALENDAR?
Economic Calendar covers economic events and indicators from all over the world with:
- 1000 events from 42 countries
- Automated refresh when data is released
- Countdown (time left before release)
- Customizable local time
- Sound notification (can be turned off)
- Historical graph
- Related news and reports
- Filter (by country, date, event category, volatility impact or keyword)
Trading Journal Trading Platform And Software
A successful trader almost always has a trading journal containing the entire record of their trading activities. If it is equivalent, this trading journal is like a diary containing a complete merchant travel note with all the steps ever taken.
Then, does having a trading journal be an obligation for a trader, especially for beginner traders who learn to trade online? The answer is certainly not mandatory. However, trading Journal can be very valuable for those of you who want to improve your trading skills quickly. Here are a few reasons.
- Record Trading History
- Help make a Trading plan
- Trading Method Verification Tool
- Evaluation of self Trading habits