TOOLS OF THE TRADE - THE SOFTWARE TRADERS USE
The old adage of a worker only being as good as their tools, rings somewhat true for traders too. But this is only because of the very nature of the game. Passion for a great trade, and being savvy with money and numbers, can only get you so far in a world that’s now reliant on varying levels of automation, computer-generated data, and platforms that do much of the grunt work.
The software is a tool one can use to provide the data that allows the trader to identify potential investments in real-time, monitor fluctuations in the market, and identify opportunities for fast wins – in day trading, for example.
Having said that, though, tools in any undertaking must be minimal and practical, with the sole purpose being to help achieve both immediate and long-term tasks, but without muddying the vital input that comes with human instinct.
So, here’s the slickest universal tool out there for trading purposes. The one real traders have chosen as the go-to. It provides a delicate balance between automation and data for market analysis, while allowing for customisation and full control.
The Software Traders Use for Trading Stocks (Top Choice)
MetaTrader 5
This one’s our top choice.
MetaTrader 5 is a multi-asset platform that allows trading in forex, stocks futures, and contracts for difference (CFDs).
With it, you get:
-A flexible trading system
-Professional technical analysis
-Fundamental analysis
-Trading signals and copy trading
-Algorithmic trading
-Virtual hosting (VPS)
What’s more, MetaTrader 5 is a virtual hub for all trader tools, like informational blogs on investment techniques and top tips, as well as market news.
Flexible Trading System
With the MetaTrader 5 you get:
-Two accounting systems – netting and hedging
-Four order execution modes – Instant, Request, Market and Exchange
-Support for all types of trade orders – market, pending and stop orders, and trailing stop
Professional Technical Analysis
The platform is an all-in-one concept with pioneering analytical tools. You get:
-The option to open up as many as 100 charts of currency and stock
-21 timeframes with a detailed analysis of minor shifts in stock prices
-More than 80 indicators and analytical tools
Algorithmic Trading
Algorithmic trading uses applications to automate investing. You get:
-Trading robots, or Expert Advisors, to analyse quotes and perform trades
-High-performance MQL5 programming language for the most accurate technical analysis and forecasting
-Thousands of ready-to-use trading applications
Most important, though, the platform provides an Expert Advisor, to guide you with minimal risk to your financial goals.
If you want to be a trader, or a better one at that, lean on the tools that are at your disposal. Watch the experts and use what they use. You’ll soon be in a space where trading platforms may then become less of a crutch, and more of an enhancement for your passion, investment knowledge and trader instinct.
Click here to find out more about how to invest in knowledge with Top Trader Market and start trading today.
