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The Market movementsThey are particularly noticeable in times of volatility for anyone interested in finance. Everybody can to be a traderHowever, this requires certain knowledge, exercises and above all a Trading platform.
What is a trading platform?
The trading platform is the tool with which we can operate in the financial markets. Trading consists of opening buy and sell transactions for a specific asset. To do this, however, we need a means by which we can do this.
In addition, the trading platforms display the quotes in real time in a diagram, in which we can carry out the required analyzes. For this reason, depending on your trading style and preferences, when analyzing the chart, you need to choose the trading platform that best suits your needs.
One of the most commonly used is MetaTrader. This is because it is suitable for all levels of experience, is very intuitive, contains a large number of elements and indicators to complement the diagram analysis, and enables the use of robots or automatic trading systems.
Elements of trading platforms
We already know what a trading platform is and what it is intended for. Now let’s see what elements it contains.
- Table with the assets available for operation: You will find a list with all available options. The amount and variety depends on the broker you are working with.
- Timeframe: This option is very important to correctly analyze the chart and your choice depends on the trading style. For example, if you are interested in scalping, use small time frames of 1, 5, or 14 minutes. On the other hand, if you are interested in intraday trading, use an hourly chart or higher.
- Technical indicators: You can add moving averages, Fibonacci retracements, RSI, etc. It should also be added that depending on the style, they may or may not work for you.
- Objects: such as rectangles, triangles, trend lines. They are mainly used to indicate on the price diagram the important points to be analyzed and taken into account, e.g. B. Supports and resistances or maximum and minimum values.
- Experienced advisors: You can add your robots to automatically open and close operations based on a specific strategy.
Where can I get a trading platform?
The first step is to find one Stockbroker work with. This is the one that gives you access to the trading platform. Ideally, you should have different versions of this tool to work anywhere.
- Desktop version: This is generally the most used option. This version is usually accompanied by a larger number of elements and tools. They are also usually more visual, which is positive for anyone using technical analysis.
You can download the trading platform from the broker’s own website and it will appear on your computer’s desktop.
- Mobile version: This option is ideal for working from anywhere without having to worry about being at home in front of the computer. There is an app for each trading platform that can be downloaded. Ideally, this app should be available for both iPhone and Android.
To be honest, it will not be easy to include lines, objects and indicators very precisely because the screen is much smaller than that of the computer. However, when there is an urgent need to open or close a business and we are not at home, it is very useful to have the trading platform on mobile devices.
- Browser version: Sometimes some operating systems do not allow downloading certain trading platforms, there is a memory problem or you simply do not want to download this tool. Here the option to trade in the markets comes directly from the browser. Quick and easy option, but with more restricted accessories and functions.
Ultimately, the decision of which trading platform to use to operate in the financial markets depends solely on what you are looking for and what best suits your needs and goals.