Trading Tools
The essential trading tools for all traders
Investor’s trading tools to manage their portfolios are varied, ranging from CFD expiration dates to economic calendars to calculators to copy trading.
Whether beginners or professionals, all traders need several tools to make crystal-clear trading decisions and manage their investments and their trading account. Below, we introduce the most important trading tools, which are CFD expiration dates, calculators, economic calendars, and copy trading, and we will explain how you can use them to improve your trading.
CFD Expiration Dates
Whether beginners or professionals, all traders need several tools to make crystal-clear trading decisions and manage their investments and their trading account. Below, we introduce the most important trading tools, which are CFD expiration dates, calculators, economic calendars, and copy trading, and we will explain how you can use them to improve your trading.
Calculator
Trading in the financial markets, especially risk management in trading, involves making simple calculations. In particular, traders need to calculate the potential profit & loss based on their target, stops, and position size. It is also essential to know the margin required for a trade, taking into account leverage.
For this purpose, Traze provides calculators allowing you to enter your trade parameters to get the results immediately. It will enable you to save precious time to focus on watching your trades and analyzing markets.
Economic Calendar
The economic calendar is one of the most important trading tools. The economic calendar gathers all the information about all the economic statistics expected in the world each day. Those details include the name of the indicator, the time of release, and information such as analysts’ forecasts for each statistic and figures from previous releases. The economic calendars also provide real-time data of indicators as soon as they are released.
The most important economic events, such as the NFP report, retail sales, or central bank meetings, can hugely impact many markets. Therefore, every trader should start their day by checking the economic calendar to see what figures are expected to be released during the session. This helps to identify times of the day when volatility will increase, thus when there is trading opportunities or risks to avoid.
Copy Trading
Much more than a trading tool, copy trading allows you to automatically copy trades from hand-picked traders with a proven track record into your own account. All you have to do is choose the accounts you want to copy and configure a few settings so that the trades of the best traders are automatically replicated to your account.
This is an ideal way to profit from the financial markets for those who don’t have enough time to learn about trading or those who don’t want to spend long hours in front of their trading platform. Thus, with copy trading, trading can become a passive source of income.
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