I have certainly traded on a variety of trading platforms throughout the course of my career. Some platforms have been a joy and a sheer pleasure on which to work, and other platforms made me want to set my hair on fire. The variety and quality of trading platforms available to traders varies from awful platforms to excellent platforms.
Word out to meet, I would simply list the platforms that are of high quality and list the platforms that were awful. Unfortunately, if I took that approach the pile of lawsuits and cease and desist would have my mailbox overflowing. So I have chosen some characteristics of great platforms and enumerate why I think they are particularly effective.
Of course, the effectiveness of any platform is directly related to the quality of the data feed. For the purposes of this article, we will assume all platforms have an adequate data feed and simply eliminate that variable from the discussion.
1. A good platform has a quality set of charting tools at your disposal.
When trading and active chart it is essential to be able to draw in trend lines, Fibonacci retracements, pivot points, and a host of other tools that traders other than myself may deem necessary. You should not have to have a degree in physics in order to facilitate the drawing of these symbols. The procedure for entering trend lines and other symbols should be effortless and accomplished without excessive thought. After all, your primary focus in trading is the price action on the chart…