Five Characteristics Of A Good Trading Platform

I have traded on numerous trading platforms over the course of my career. Some platforms have been an absolute joy to trade on, and others have made my hair snarl. There are many trading platforms for traders, and they all vary in quality. You can see olymp trade com login for more information.

Let’s just say that I will only list platforms of high quality, and not list those that are poor. Unfortunately, that would result in a lot of lawsuits and cease-and-desist letters. I’ve chosen some features of great platforms to highlight why they are effective.

The data feed quality is an important factor in the platform’s effectiveness. This article assumes that all platforms have a data feed sufficient to allow us to discuss the issue.

1. A quality set of charting instruments is a must for any platform.

For active charts and trading, it is crucial to be able and proficient in drawing trend lines, Fibonacci and pivot points, as well as other tools, that other traders may find necessary. These symbols can be drawn without the need for a physics degree. Entry of trend lines and other symbols shouldn’t take too much effort. Remember that your main focus when trading is price action, not how to draw lines.

2. A good platform should be easy-to-read and to interpret.

An easy-to-use platform should be clear and simple to set up. To use the software, you don’t need to read 200 pages of manuals. The chart must be easy-to-understand and the index readings must be clearly visible. Platforms that are complicated to set up or require regular maintenance will waste trader time and eventually cost them money. The settings you have saved from the previous day will still be there when you open the program the next day. You won’t need to change your indicators or oscillators on a daily basis if you use a quality program.