Trading Platforms are the computer applications that you use to make trades and place orders on the stock market. These computer applications are called electronic trading platforms and they use a network to connect with financial intermediaries. These platforms have many uses and are important for anyone who wants to invest in the stock market. However, they are not suitable for all investors.
The interface of a trading platform should provide you with all the information you need, including charts, research and educational tools. For example, TD Ameritrade’s thinkorswim platform provides access to social sentiment analysis from Twitter. It also features advanced charting and analytical tools, allowing you to simulate trades before actually placing them. The platform is available for desktop, mobile and web users, and it has a wide range of features.
Some of the best trading platforms allow you to place orders quickly, track watchlists, and receive alerts about interesting trades. They may also offer features that help you analyze more complex options trades. These features can help you make decisions about your investments more effectively. Some of the best platforms can also provide streaming news and offer better trade execution, which is crucial for an active trader.
Many of the best online trading platforms include the ability to place stop-loss and take-profit orders. If you are risk-averse, a stop-loss order can be an essential tool. Some platforms also offer ‘trialing stop-loss’ orders, which allow a profitable position to remain open until the price drops by a certain percentage.