Finding the Best Day Trading Platform
Though you can find several trading platforms in the forex market but which allows you to trade in multiple assets including stocks,
futures and forex can be considered the best. MetaTrader 5 or MT5 is one of the platforms that allow their customers to trade in
different types of trades by its tools.
The trading tools offered by MetaTrader 5 include algorithmic trading applications and tools for a complete
analysis of price, expert advisor, copy trading and trading robots.
live forex trading : You can get everything required to be a successful trader from this trading platform like a powerful system for live forex trading
as well as the latest information about market conditions and trade signals etc.
online trading account : When you open an online trading account with this trading platform then you can get a separate account for trades and orders,
Market Depth, as well as the support of all types of modes for the execution of trading orders.
The trading system of the MetaTrader 5 supports accounting systems with two modes – netting mode and hedging mode.
The netting mode is used for exchange markets whereas hedging mode is used for trading in the forex market.
This trading system will allow traders to have only one position open at a time in a financial instrument.
A further operation on a similar symbol can help in increasing or decreasing the volume of the trade.
In this system, a new position is opened with a new deal in a financial instrument and for each open
position the levels of take profit and stop loss can be set individually.
For trading successfully in the exchange and forex markets this platform provided all the options necessary for it.
Execution of orders
An order executes trading operations on the exchange markets and forex markets.
In this system, a broker is requested to sell or buy a financial security.
The execution of such orders is known as a deal.
All types of trading orders like pending, market, trailing stop and stop orders are supported by MetaTrader 5.
These four modes of executing orders are used to meet various objectives of execution of Request, Instant,
Exchange and market.
- Market orders are executed instantly
- Pending orders are generated instantly but their execution is done later on when a specific condition is met by the market.
- Stop orders allow the traders to minimize their losses and securing the profits they have earned.
- Trailing Stop orders allow the traders to follow the prevailing market price to increase the profits and trailing the Stop Loss.
- In other words, this order can help in securing profits along with minimizing losses.
Working with orders
In order to maximize the benefits of this trading platform, MetaTrader 5 provides various options to the trader to place their orders.
They can use Market Depth or Market Watch Window to place their orders by using the chart of a financial instrument or the hot keys.
They can also send their orders with a single click by using the option of One-Click trading.
In this way, MT5 is the best day trading platform as it provides thrilling and unique trading opportunities to the
traders regardless of their experience levels.
Written By : YOUSSEF J A ALMEER
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