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Trading Tools by Andew Jones





Article Author Biography
Trading Tools by
Article Posted: 06/06/2013
Article Views: 42
Articles Written: 108
Word Count: 425
Article Votes: 0
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Trading Tools


 
Finance & Investment
One of the most complete and performant trading platforms commercially available is the Metatrader platform and it is being offered by the majority of brokers.

Metatrader comes with a variety of functions and applications, starting with allowing you to program your own trading system, applying expert advisors on the platform, and providing all the necessary trading tools you need these days in order to trade the financial markets: indicators, oscillators, channels, pitchforks, Fibonacci retracement and expansion tools, cycle lines, different shapes and arrows for marking down important elements when doing your technical analysis, and the list can go on.

All these tools are normally available on the standard downloading of the platform. However, if wanting to import your own indicators or trading tools/strategies/systems, etc, you can do this too. For example, if you have one custom indicator that is not available on the standard platform then you need to open the original file location on your computer (where the platform has been downloaded), go to the indicators file and just Paste in there your custom indicator, restart the Metatrader and under the Custom Indicators tab on the Navigator, you will find it and can apply it on a chart simply by dragging and dropping it.

Don't get me wrong into thinking this is the only trading platform available and the best one. No, but it is available to the normal retail trader and has enough trading tools to offer for technical analysis purposes.

There are however different platforms, like the Jforex platform offered by the biggest brokers in the world and the e-signal platform as well. The indicators and the tools provided here are definitely more complex and user friendly from my point of view, but of course good things come with a price as the subscription for the e-signal platform is quite expensive. But many say it is worth every penny, so it must be something good about it there.

As far as I noticed, looking at the Jforex platform for example in comparison with the Metatrader, the set of tools provided seems to be of a higher quality, in the sense that you have cycle indicators, alkinds of momentum, pattern recognition (candlestick recognition, bullish and bearish patterns, contracting triangles identification, and so on), plus overlapping studies, which are quite interesting. Anyway, one can have all these available on the Metatrader too, but needs to import them, to know how to do this, only to have the trading tools needed, and this may prove an even more difficult task than trading itself.

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