Orderbook trading course
2. The importance of your trading platform
I am assuming that most people in this course are still fairly new to trading in the order book. So here are some basics about the trading platform.
Frankly, you can't become a profitable trader unless you use professional trading software. I don't want you to think that this is some kind of secret trading software or anything like that. It's just that most trading platforms don't allow you to see exactly the things we need to see as a professional trader. There are some specific parts of the order book that we need to identify and see. Although the order book is available on a number of different trading platforms, there isn't even a handful that we can use and really have all the elements we need for our trading.
First of all, what are the things we need in a trading platform so we can make money.
- The first thing we need is a static order book, which means that the market moves up and down, but the price level remains constant.
- Die zweite Sache, welche wir auf jeden Fall sehen müssen, ist das Volume Profile, das uns die gehandelten Kontrakte vom aktuellen Tag zeigt.
- The last and also very important thing that we have to see is the accumulated orders, that is, the contracts that are currently being traded at a price. What the good platforms do, they not only show every single trade that comes into the market, but add them up, which is very important for our trading approach.
Platform options ...
- TT (Trading Technologies) - 30 days free demo
- Jigsaw Trading – Ninja Trader Add-On
- CQG – Integrated Client or QTrader
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