What can a trader's terminal do?.

The trader's terminal is the best thing ever invented to make the work of exchange traders easier. It is currently a fully-fledged software package that facilitates transactions and technical analysis.

The first trading terminals appeared over thirty years ago. They were simple devices equipped with just a couple of buttons, but even this improvement significantly impacted trading efficiency.

The trading platform can now do a lot of things: display currency pair quotes on charts, open trades, conduct technical analysis, and create scripts.

Now a short overview of the terminal's capabilities.

Analysis.

For analysis, there are currency pair charts that show the entire dynamics of the trend movement; in addition, it is possible to plot various lines, figures, and levels.

Charts are displayed as lines, bars, or Japanese candlesticks. Each trader chooses the most convenient option. Currently, Japanese candlesticks are the preferred choice.

Indicators.

To facilitate the automation of technical analysis processes, you can install special indicators that will speed up and automate the process.

Some of them can even suggest entry points and provide recommendations on the duration of trades.

Trade.

The main purpose of the trading terminal is, of course, opening orders. You can open both urgent and pending orders, while also setting additional conditions. For more information on orders, see the article " Forex Order Types ."

Advisors.

These are programs for automated trading on the forex market. Essentially, they're a robot that trades for you. To get started, simply download and install the chosen program on your trading terminal.

Programming.

In addition to using ready-made indicators and expert advisors from third-party developers, the terminal allows you to create your own program. A dedicated application, MetaEditor, is available for this purpose.

News.

Most terminals have a news feed, but if you don't have one, simply install a news indicator . This feature is essential if you want to consider fundamental factors when trading.

Statistics.

To make your trading more efficient, you should always analyze your completed trades. You can do this in the "Account History" section by saving a detailed report of your transactions. This provides a detailed analysis of losing and winning trades, indicating their direction.

You can clarify any questions you may have by downloading the instructions for Metatrader 4 .