if you are a beginner and don’t know much about metatrader 5 then relaxed. It is an improved version of the well-known MT4 multi-market platform. If you compare these two amazingly wonderful programs, you would get to find out that their interface is nearly identical, but the functionality is massively different. You can easily find a good and powerful metatrader 5 multi-asset trading platform for your trading ventures once you know about it all.
Well, MT5 has received some fresh set of features, and many tools now offer more options. Perhaps, beginners and the ones who are used to working with the previous version are going to have to spend a lot of time figuring everything out. But you need to know that this platform has numerous perks that you should not miss out on. After all, MetaTrader 5 has become one of the world’s most popular and loved trading platforms for retail investors, day traders and even forex and CFD traders. For the ones who do prefer a true multi-asset platform, MT5 has all the perks a beginner or even advanced trader might think of.
Types of Trading you can find on MT5 platform
There are a number of types like:
Automated trading
Automated trading is a simple form of algorithmic trading that makes use of pre-determined rules and indicators to trigger the automated execution of trades to simply buy and sell across the financial markets. in case you simply have trading systems to produce your forex signals, then you should definitely consider automating them to eradicate the emotion from your overall trading.
Copy Trading.
Copy trading, at times even referred to as social trading, is a way to simply trade stocks or forex through the trades of someone else. You can even choose from a variety of traders with different investment styles and even risk levels, but the best part is you don’t really have to run complicated market analysis.
You know, such a thing is because all the work has been done for you by an experienced trader who simply offers or provides their full trading profile and historical trades. The one thing you need to worry about is choosing your favorite trader and following their trades.
Algorithmic trading
The ones who use algorithmic trading incline to simply form up or create their own automated strategies based on signals from technical indicators or even pre-determined rules and then simply mechanically execute trades when certain conditions have been fulfilled. This strategy can be really used with MT5 for stocks, forex, even commodities and indices.
You can even code your entire trading robots in using the MQL5 programming language. If coding is not really your thing, then there are forums where you can simply tell a coder what you really look for or want in your trading system, and they are going to code it for you. the thing is options in the realm of mt5 are in abundance.
Making use of technical analysis on Metatrader 5 to trade stocks
In case you love to day trade stocks, forex, Gold, even indices or more, then technical analysis is definitely likely to be your preferred trading style. Many traders such as Metatrader 5 for stocks because of the overall brilliant charting capabilities it offers. In actual fact, both MT4 MT5 give you quick access the full range of technical indicators. But one of the clear perks for the short-term trader using MT5 is the overall 21 trading timeframes. There are much more indicators on MT5 vs the MT4 platform, so the active technical trader is nearly going to always favour MT5. It does not really matter in case you are a swing trader, position trader, love the ichi-moku indicator or even prefer to intraday scalp stocks futures, then MT5 is the ideal option for you. have a look at some perks of this mt5 right away:
A huge set of tools
This amazing platform offers a huge selection of diverse types of features that allow you to automate numerous processes and optimize your strategy:
- up to 100 charts at once
- 38 tech indicators
- MQL5, etc.
- economic calendar
- 21 timeframes
- 44 graphic objects
- copy trading option;
- all types of orders
- Depth of Market
However, the most critical thing is that MetaTrader 5 provides access to diverse kinds of trading instruments: currency pairs, even commodities stocks, futures, options, and bonds for sure.
Compatibility with almost every device
Like all modern day business solutions, MetaTrader 5 is definitely compatible with various devices and even platforms. You can install it on a PC and even laptop (Windows, macOS, and Linux), as well as on your tablet and smartphone (Android and iOS). Gratitude goes to it; you can trade wherever you are. The program is simply distributed free of charge, and you can even download it from the website of your broker or even official developer.
You get to do Deep market analysis
All of the mentioned tools allow you to conduct in-depth technological and even proper fundamental analysis using charts, news feeds, economic calendars, even technical indicators, and more. You can follow the market dynamics and even make an informed conclusion about the requirement to open or close transactions. Moreover, changes get monitored in real-time. And built-in reports is going to help you evaluate the effectiveness of your strategy grounded on the total number of transactions, average profit and loss, overall expected value, and more.
Testing fresh strategies
In the fifth version of MetaTrader, the alternative to create your own Expert Advisors (EA) making use of MQL5 is available. In case you know the language at least at the initial degree, you can even build experts and indicators depending on what you really need from them. Meta Editor in this platform version has accomplished a significant upgrade, so it works better and simply faster. After creating a new EA (or purchasing one), you can easily test it on historical data. in case its work is successful, simply run it on a real account.
Conclusion
To sum up, you can use the best mt5 brokers and ensure that you make the best possible trading moves.