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Five Characteristics that make a good trading platform

Over the course my career, I have traded across many different trading platforms. Some platforms have been an enjoyable and pure joy to trade on. Others made it hard to keep my hair on the fire. The quality and range of trading platforms available for traders is varied, from terrible platforms to great ones. You can see login olymptrade for more information.

If you need to communicate, I would just list the high-quality platforms and the ones that are not. Unfortunately, I would end up with a mountain of cease and desists and lawsuits if that was my approach. I have selected some key characteristics of great platforms and listed the reasons I think they are especially effective.

A platform’s ability to function effectively is directly tied to its data feed. In this article we assume that all platforms have an adequate feed. We can then remove that variable from our discussion.

1. A good platform should have a high-quality set of charting and other tools.

Trading and active chart requires the ability to draw in trend lines and Fibonacci-retracements. Drawing these symbols does not require a degree of physics. It should not take much time to enter trend lines and other symbols. You should remember that trading is about price action and not drawing lines on charts.

2. Good platform design should be simple to read and understand.

A platform that is good should be easy to use and read. It should not take you 200 pages to learn how to use the software. The chart should not be difficult to read, and the index readings should always be easily visible. Platforms that are hard to set up or that require frequent maintenance can be costly and waste time. Quality programs will save your settings. When you start the program on the next day, the exact settings should be displayed. You don’t have to add your indicators or oscillators daily.

3. A platform that is reliable has all the indicators and oscillators you need.

There are few things more annoying than not having a complete set and a method to add indicators to your chart on a platform. Many platforms that are lower in price only feature five to six basic indicator and that’s it. Good platforms should be able allow you to alter the time periods and other variables of the indicators according to your preference. These functions should not take long. They should be clear and easy to follow, without the need to go through the 200 pages of a manual.