What can a trader's terminal do?

The trader's terminal is the best thing that has been invented to make the work of exchange trade workers easier; at the moment it is a full-fledged software package in which transactions are carried out and technical analysis is carried out.

The first trading terminals appeared more than thirty years ago; they were the simplest devices equipped with just a couple of buttons, but even this improvement significantly influenced the efficiency of trading.

Now the trading platform can do a lot of things - display quotes of currency pairs on charts, open trades, conduct technical analysis, create scripts.

And now a short overview of the terminal's capabilities.

Analysis.

To carry out the analysis, there are charts of currency pairs that show the entire dynamics of the trend movement; in addition, there is the possibility of constructing various lines, figures and levels.

The charts are displayed in the form of lines, bars or Japanese candlesticks; each trader independently chooses the most convenient option for him. At the moment, these are still Japanese candles.

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 give recommendations regarding the duration of trades.

Trade.

The main purpose of the trading terminal is, of course, opening orders. You have the opportunity to open both urgent and pending orders, and set additional conditions. More information about orders is written in the article “ Forex Order Types ”.

Advisors.

They are programs for automatically making transactions on the currency exchange. In fact, this is a robot that trades for the trader. To get started, you just need to download and install the selected program into the trader’s terminal.

Programming.

In addition to the fact that you can use ready-made indicators and advisors from third-party developers, the terminal provides the ability to create your own program. There is a special MetaEditor application for these purposes.

News.

Most terminals have a news feed; if this is not possible, simply install a news indicator . This function is necessary if you want to take into account fundamental factors when trading.

Statistics.

In order to make your trading more effective, you should always analyze your transactions. This can be done in the “Account History” section by saving a detailed report on the transactions performed. Thanks to this, you receive a detailed analysis of unprofitable and profitable trades, indicating their direction.

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