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Forex Trading Strategies: Trading Platforms

Forex Trading Strategies

About half a dozen forex trading platforms are available to Australian customers. If you look at other brokers around the world you can be sure that number increases to at least a dozen. Whether you trade in Australia or the USA, finding a broker and a platform you like is important. Forex trading strategies are more than just secret styles of trading for profit. In fact most experts will tell you it is the platform and broker that help you trade better than some super secret all winning strategy would be. It is because you first want to be comfortable with the platform, as well as find it is user friendly. Since forex brokers may have two or three platform options this can also be a comparison concept for brokers.

Forex Trading Strategies using Trading Platforms

Plenty of features differ with forex trading platforms. Forex trading strategies will have you assessing these different features of individual platforms during your forex broker search. What do you think are the top features of a trading platform?
· Ease of use or user-friendly?
· Customisable charts?
· Various order types?
· Trading modes?
· Quick analysis using interactive charting?
· Testing your theories with calculators and other tools?

Whether you answered yes or no to all of these questions, you would be correct. Each trader is going to have certain aspects that are more important. However, most traders are looking for a platform they can go to and get trading done which requires a user-friendly setup. A trader who is more into technical trading versus fundamental might be more inclined to go with a trading platform with technical updates and superior technical tools.

Let your goals and style be your guide in the hunt for the best trading platform. You get to decide what is right for you and hunt it up. No one can tell you absolutely what is right or wrong in a trading platform, since you make your own determination of how to trade.

Fundamental information is easy to come by with Google news, CNBC news streams and many other options. Yet, most platforms tend to be technical in nature for analysis versus news related. You may want to search for a programme that offers more fundamental analysis if that is the camp you fall into.

Forex Trading Strategies Live Demo Account

Search for brokers or trading platforms that allow you to test any trading platform. There are plenty of demo accounts out there. Some come with a 30 day trial, others longer or shorter. You want to take advantage of these to ensure the platform really has what you need or that it is arranged in the way you like. Like forex trading strategies for finding brokers, you can always switch to a new platform or try something completely different if you find the demo lacking. The great part about trading platforms is that they are free to download for demo and practise testing. Often you do not have to open an account to access them.

 

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