When you determine whether or not day trading is the optimal trading style meant just for you, you will have to make sure you are investing in the safest trading climate. It will require a trading system that is secure, credible, quick, and simple, such as MetaTrader 5 (MT5).
The rates, currencies, stocks, and products broker LBLV provides customers a better method to trade stock markets through powerful platforms such as MT5 via site Evotrade.
A day trader’s target is to benefit from intraday developments on various financial assets when negotiating positions are accessible for several minutes to several hours — so keep in mind that timing is key!
As a result, a performant trading system with efficient trading utilities– statistical, technological, and structural analysis tools to evaluate stronger entry and exit markers and reach truer timing — is needed to be a profitable day trader.
Get Started with MT5 Trading
Day traders prefer the numerous advantages the MetaTrader 5 platform has to offer. It has been described as the world’s quickest, most reliable, and cost-effective trading platform, allowing everyone to negotiate in the most favorable trading context.
You should try creating a test profile on MT5 with a reputable and stable broker, such as the certified LBLV broker, by taking these easy steps, enabling you to learn about the trading network and its distinguishing characteristics.
After you’ve logged in, you will be able to check out all of the main features of the platform’s easy and customer-friendly system, which will help you with your regular trading schedule.
Underneath the home page, you will find a number of integrated toolbars that replicate some of the home page’s controls and features. You can do a lot of customization, especially the toolbars. Customize them by changing the chart time periods and chart styles (line chart, bar chart, etc.).
The Market Watch segment on the left-hand side of the chart demonstrates values for chosen capital assets like EUR/USD, GBP/USD, gold, and crude oil. Some alternative data, like financial contract specifics and requirements, as well as one-click trading possibilities, can be found in this segment.
You will see a toolbox segment under your chart in which you can monitor the progress of your active trading places, along with your pending trading requests, and make changes as appropriate (stop-loss, limit prices, take-profit, and many more). This multipurpose interface can also be utilized to reach other trading-related information, like account records, notifications, updates, an inbox, expert articles, and reviews, and so on.
Isn’t it simple?
Therefore, the MT5 design is very user-friendly and includes every one of the requisite trading resources and knowledge to get started with trading. When you find a cohesive fully configurable and flexible user interface where you can see various options, toolbars, and service tabs that will maximize and ease your trading experience.
Are you about to make your first purchase? It’s simple! Take these easy steps to get started.
- In the Market Watch tab, right-click on the financial tool you want to try out.
- Choose “New Order” from the drop-down menu.
- Next, determine if you’d like to pursue a pending order, an immediate order, or a market order.
The immediate/instant order option
When you choose an instant order, you must beforehand evaluate:
- the scale of your position (meaning the volume)
- the stop-loss and take-profit rates
Next, according to your preference, select the “Sell” or “Buy” option, and your request will be processed in relation to the next accessible value.
The pending order option
If you want a pending order, you must decide:
- the sort of order you would like to enter (Buy or Sell limit, Buy- or Sell-stop, Buy-stop or Sell-stop limit)
- the price you’d like your order to be set at
- the scope of your position (in the matter to volume)
- stop-loss and take-profit rates
Then select “Place.”
Your order will be located at the end of the interface up till it has been completed.
Do You Like Copy- or Automated Trading?
That’s not an issue! MetaTrader 5 has everything you wish for.
According to LBLV MetaTrader 5 is a multi-asset system with excellent trading capabilities and technical analysis solutions, and even the ability to utilize automated trading methods by using trading robots, and of course, copy trading.
As a result, day traders who incline towards automating their trading or copy trading models from the world’s most active traders may apply this platform for trading the stock and futures markets.
MetaTrader 5 for Day Trading (MT5)
Therefore, MT5 is an excellent trading site for day traders looking to advance their skills. Make certain that you understand how it works and the ways you can configure your MT5 trading context to your liking and to enhance your trading experience before you give it a go.
Here are some details to think about:
- Solely trade with money you are sure you can lose — Since trading is a high-risk– high-reward practice, you should be trading with money that isn’t meant for your survival.
- Improve your business and economic awareness on a regular basis, because knowing and fully grasping how financial and trading markets operate is critical to your success.
- Use a clear trading approach and adhere to money management guidelines. You won’t be able to generate revenue if you do not practice your trading plan and adhere to money management requirements.