What Features The Forex Autopilot Trading platform System Should Have?
Forex Beginners are always wondering what the characteristics that a good trading platform should have. There are so many choices, so for which of the many should you choose? Of course, you should know that no platform is better for everyone, as each platform is in itself, but may be the best for your needs. There are some features that you should make sure that you are having in your platform and that can help you become a successful trader.
The first is the updated price. It is an obvious feature. While trading you must always have updated prices on the second. This is especially true if you make short term trading, as you play it on a few pips at a time. Traders who are scalping or open intra-day positions are also interested in smaller movements in the price.
The characteristic number 2 is the convenience of the platform. One of the most important features that your trading platform should have, but that is usually overlooked by many traders, is to feel comfortable with the platform. If you use a little platform with intuitive software and difficult to understand you will have constant headaches and lose money. Controls should be intuitive and not seen to have problems using technical indicators.
It is useless to say but if you have a trading platform on which you feel uncomfortable, even your trading will be. If you make Forex with a trading platform on which you’re comfortable, the trading will respond with perk and more money. To trade is hard work; do not make it even more difficult with a poor choice. Choose one of the platform with which you are mentally okay and do trading, going to track your earnings as well as possible.
Back-testing and technical advantages of trading platform
The back-testing of a strategy to be applied in the currency market is the way to check whether it can succeed or not. The general idea behind the back test is to find an effective strategy that can work well in the past and that, more probably, will produce the same result by winning now.
What are the advantages of back testing:
- The recognition of patterns that tend to repeat themselves in time;
- The deeper understanding of a trading system and the ability to make decisions more precise;
- The chance to estimate of potential gains and potential losses on the basis of past performance.
ü Some strategies require specific conditions to spread, in the sense that these strategies may not be as effective when compared to the live trading demo;
ü In summer and winter changes can cause confusion and the current price does not match the historical ones;
ü Means dealing with live trading prices of a volatile market. The strategies that are created may not work very well in the live trading, since the entry prices may differ between demo and live.
How to Make a Back-Test using Meta trader?
- Download MetaTrader 4;
- MetaTrader 4 open and click View;
- click Strategy Tester, will open a new window;
- Choose the Expert Advisors that want to check;
- select the currency pairs;
- The field “Model” is the accuracy of the options. Use every tick is essential;
- check the box and choose the date the trial period, or start date and end date;
- The visual mode will show a chart with the actual positions. The disadvantage of the visual mode is the considerable delay in the process of back-testing;
- the menu of the period shows the time span of the graph;
- choose the initial deposit;
- Choose the input options. At first you might also want to start with the default settings and change them if necessary;
- At this point click the Start button and watch your back-testing in action.