The Meta Trader 4 Excel platform is making a buzz in the online currency trading circle for all good reasons. Forex trade is the business of exchanging one nation's currency for that of another. Unlike most other trades, profit here is completely dependent on the volatility of Forex market.
If the market were static, with no fluctuations in currency values, no money will be made. Yet, this same volatility also creates the element of risk. It can be quite tricky to predict which way a market will go because of the innumerable variables affecting prices. In such a scenario, traders must seek out every piece of information available about the economic forces at play. The lack of insider trading makes it a level playing field, but this means that all your competitors know what you know.
Therefore, the only way to trade sustainably and profitably is to glean all data of market trends. The trend is a trader's best friend. The best way to exploit trend data is to analyze it thoroughly.
But this is precisely where the maximum pieces of Forex software fall short - analytical tools. Every system offers a few tools - some useful, while some not too useful. For the most part, statistical analysis tools provided in Forex systems are either too simplistic to be powerful or too complicated to be practical for daily trading.
Even the popular Metatrader has this drawback. Despite powerful trend analysis features, executing automated trading strategies calls for complicated programming. The average trader, who isn't necessarily a computer geek, will not appreciate this. It can be quite a daunting task to learn an entire programming language just to trade.
This is why the Meta Trader 4 Excel platform is gaining popularity. It allows users conduct their Forex trade from excel, the widely used spreadsheet software. When you think about it, Microsoft Excel actually makes for a great trading program. Consider its features:
- Ease to use: With its simple graphical interface, it's one of the most user-friendly programs of its kind.
- Short learning curve: With the extensive tutorials and help files, mastering the features is easy even for users with no prior experience.
- Simple formula writing: Even the most complex formulas can be created with surprisingly simple syntax.
- Hugely scalable: Allows working with a massive amount of data.
- Powerful conditional formatting: Important patterns that weren't apparent at first can be unearthed. This makes it easy to mine data to discover trends and exceptions.
- Visual chart element pickers: Allows users to quickly modify chart data. Manipulating charts with a few clicks makes data analysis easier, more insightful, and effective.
All these features make Excel an excellent platform for trading. Especially if it were possible to develop Expert Advisors - automated trading strategies that seek to maximize profits and protect you from losses. To your surprise, it is now possible! An ingenious application now allows all Metatrader's functions to be used through Excel, including the development and execution of Expert Advisors. Set up your Meta Trader 4 Excel system now and experience the benefits immediately!
Source : ezinearticles
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