Dozens of trading platforms are popular in Forex and growing, and developers offer their clients a combination of experience and innovation. By the way, MetaTrader products are in tremendous demand among Forex traders. Statistics show that about 74% of all traders use MT5.
Two main factors explain the incredible popularity of MetaTrader platforms: these products combine convenience with the highest level of functionality. What are the most prominent features of MT5 trading platforms?
MT platforms, market, and pending orders, Stop Loss and Take Profit tools, Instant Execute option, etc. It consists of a wide range of trading tools, including Traders having access to a flexible trading system for implementing varying complex strategies.
Professional traders know that advanced analytics is half the battle. MetaTrader platforms have analytical tools, technical indicators, interactive charts, and different time frames to enable users to predict price movements as accurately as possible.
MT platforms enable traders to interact with trading signal providers, copy successful trades and earn profits.
Both MT4 and MT5 are trading platforms developed by MetaQuotes. MT4 was released first, and MT5 was released in 2010 as its successor.
Due to the ease of use, many foreign Forex brokers offer a trading environment with MT4 and MT5 instead of their platforms. There are the following differences between MT4 and MT5.
- Performance of trade functions;
- A large number of support tools.
First of all, we can say that the operation speed has improved. MT4, developed in 2005, used a processor with 32 bits of memory, which was mainstream then. On the other hand, MT5 uses 64 bits and more memory than MT4, thus improving processing efficiency and speed.
In addition, MT5 increases the number of types of “indicators,” “objects,” and “displayed time frames” that help price charts. As a result, the flexibility of displaying price charts has increased, and the number of scenes that can be processed has increased, which is also a feature of MT5.
- Works and executes orders quickly;
- Many technical indicators;
- Many objects;
- Many time bands that can be displayed;
- Board information is displayed;
- The update is in progress.
The behavior of professional traders is elementary and understandable for beginners in trading who are not able to control the mentality associated with risk. Professional traders are well aware of the limit at which they will not be able to make ordinary decisions if they continue to hold stocks, so they do not try to take risks recklessly.
Professional traders, who have pre-defined criteria for new entries and cut-loss conditions, do not like complex trades. When investing in shares, they always follow a simple rule. Trading only by applying a few options to the scenario carries a small mental load and dramatically increases the likelihood of making a favorable decision. As a result, unlike novice traders who are overwhelmed by their options, they can make smart decisions even when the overall market is moving wildly.
Trading only by applying a few options to the scenario carries a small mental load and greatly increases the likelihood of making a favorable decision. As a result, unlike novice traders who are overwhelmed by their options, they can make smart decisions even when the overall market is moving wildly.
Beginner traders think that professional traders use sophisticated analytical methods to make huge profits. However, the more profitable a professional investor is, the simpler the investment method becomes.
Since many new investors are unaware of this fact, the trend is spreading that it is difficult to get consistent returns from investing in stocks.
Many shares are not present all day and are mainly traded from 6 to 8 hours. This is because they are only available when the stock market index is open. For example, you can only sell shares of a Japanese company on the Tokyo Stock Exchange. Similarly, Australian shares in Sydney, British shares in the London market, and American shares in the New York Stock Exchange.
The best time to trade assets on MT5 is when the markets are converging, as this increases the number of active traders and the action. The time when stock market timings coincide:
- The stock market of Tokyo and Sydney;
- The stock market of London, New York, and Tokyo.
No matter what trading conditions you prefer, it is necessary to establish the ideal trading time in these markets. For example, if you are a market trader, you want to predict the correct time frame for short positions.
Not all assets are available 24 hours a day and can only be traded during certain hours. But for currencies, for example, you can invest at any time. Likewise, each asset has its own “best” time to trade.
Every trader at least once in his life has asked himself this question, is it the same for weekend trading? For professional traders, the answer is yes. You can trade through a suitable binary options broker within a week.
Trading is only possible when the market functions and the time zones give an advantage. But the weekend is the weekend, which makes people think that no transactions can be done. However, this is just a fallacy, and you can trade 24/7 on binary options.
This is possible because different countries have different working hours and, as a result, their markets are open on additional days. The most prominent example would be some of the countries in the Middle East. Some are open from Sunday to Thursday, while others are open from Saturday to Wednesday.
Now that you have at least one open market, you can trade anytime. With the Middle East markets open even on Saturdays and Sundays, you can take advantage of any trading opportunity.