Elliot Waves attract many traders who would like to practice their use. This method can not be called simple and easy, but it attracts attention to its effectiveness, however, provided that it is used by a person who knows and is able to do it. The main problem that many speculators face is that waves are difficult to identify.
This method can be difficult for an experienced trader, especially for a beginner. If you’re just starting to trade or thinking about doing so by looking at brokers, check out the feedback on FinFx and other companies. And if you’re not sure what you can do, it’s better to gain experience before using this theory.
For the implementation of this method it is necessary to choose a good platform, have knowledge and preferably practical experience. To date, there are many programs that offer the use of this method and one of them is a platform that is known to many fans of the waves – MTPredictor. What is it?
MTPredictor trading platform is a program that offers traders to use Elliot Wave Analysis. It is an excellent assistant in trading and clearly copes with the task – to identify entry points, take profit, stop loss. Using this platform correctly, a trader gets an opportunity to significantly increase his capital.
MTPreader platform differs from other terminals in that besides the wave analysis you can get more precise advice about the entrance. Choosing this platform, a trader can choose from several strategies that are more suitable for him. Various formats are available to the user, including text and Metastock. Installation is straightforward, the main thing is to follow the instructions. That’s how the platform is positioned, and whether or not it’s true, what are its pros and cons, let’s try to figure it out.
Benefits of MTPredictor
- The system informs the trader that it is possible to open a position.
- It also indicates its size.
- It is very convenient that the program will determine how high the risks that can be, will indicate the potential end goal.
- When this goal is reached, the trader will be notified about the probability of the profit increase process and on the basis of this the program will give advice – to support the position further or better to close it at this moment.
- Includes many standard technical analysis indicators, as well as Fibonacci.
- Multiple options, including real-time IQFeed and eSignal data.
- Express analysis, automatic settings, including risk control.
- Historical analysis of trading – allows the trader to learn from past experience and gain experience, so as not to make the same mistakes in the future.
- Clear, user-friendly interface, easy operation.
- Besides the wave analysis, MTPredictor will indicate to the trader the entry points, stop and take profit.
The disadvantages of the platform are that it was created to use Elliot’s theory in trading, unlike other platforms with more features and capabilities, MTPredictor cannot offer the same, but traders who are able to work with the waves, appreciated the program and many were satisfied with it, using it.
Minimum 2GB RAM, Windows 7, Windows 8, and Mac. The desired connection speed is 56 Kbit.
Selecting a platform is one of the most important components of success for any trader who wants to trade professionally and earn good money. Except for the terminal, you shouldn’t forget about the broker. All Forex brokers convince of their crystal honesty and integrity to make sure you don’t have to pay attention to ads, FXCC will be of great benefit if you choose FxPro, pay attention to FxPro’s reviews.
Mirror Trader platform is offered by more than two dozen brokerage companies. Mirror Trader gives the trader the opportunity to use signals in real time, as well as technical analysis tools. And also to choose the effective strategies of more successful colleagues and copy them, which is easy enough even for a beginner. With the help of the terminal, the user can open a huge “warehouse” of good strategies.
The eSignal trading platform offers users who choose it various tools for technical analysis. Choosing this platform, you will be able to use a variety of tools that analyze and scan market data, charts, indicators, modules, with which to test the developed new strategies. eSignal can offer traders a wide range of opportunities, for example, to write trading strategies and indicators using the scripting language.
VertexFX trading platform is deservedly considered to be one of the most reliable trading systems currently available in the financial market. VertexFX is a global tool for electronic trading of currency pairs and other financial instruments, which was created by traders and financial experts. VertexFX includes advanced features such as Ready Smart Dealer, Ready Vertex-to-Vertex Bridge and Ready Multi Account Trader.