Admiral Markets introduces a new plug-in to the popular Meta Trader 4 platform

07.07.2014

After the hype of Meta Trader 4 has died down, despite it being the most popular and user-friendly platform to work with, Admiral Markets has released an update to the platform via the Supreme plugin. The plugin brings more user-friendly attributes to speed up trading by making navigation easier and less of a hassle.

Some of the features include easier trading options so that trades can be made with just a single click, a snapshot with different currencies to have an overview straight from your dashboard and various other additions such as social media updates, notifications and alerts based on your preferences as well as even a calculator to quickly assess trades. Various other features have been introduced which can be easily and directly accessed via the MetaTrader software. The idea behind the plugin is to provide all required features within one window without the need to navigate away and miss important market fluctuations.

According to staff and developers at Admiral Markets, they believe this upgrade should free up time for more productive tasks such as implementing and testing out new strategies rather than having to navigate across multiple screens. The plugin is not for a particular skill level and can be useful to both experts as well as beginners alike. The easy to access training material for all stages of traders can be useful to expand knowledge of all types of traders.

MetaTrader 4 is currently the most popular FX trading platform in use today. This plugin should bring in even more value additions separating it from the competition. The performance of the application in terms of speed and execution has also improved which makes it beneficial in more ways than one. The plugin can be used whether you are trading with real currency or even on a practice account with virtual currency. This can be beneficial if you are unsure of the plugin, in which case you can test it on your demo account before moving it to your live account.

Other Important Features

A number of features have been added to prevent catastrophic losses and boost profits. Features such as Correlation Matrix can be very useful for traders to reduce risk and improve the outcome of their trades. By using Correlation, you can prevent repeating history for negative trades by finding currency pairs that are behaving similar in nature. This will significantly cut down losses. Using the Correlation Trader, users can assess the nature of a trade beforehand and prevent unnecessary losses.

The Mini Terminal allows easy and quick trading. This feature is partially available in the standard MT 4 platform but this feature expands it. The option is particularly useful for traders who indulge in the strategy of scalping. You can enable stop-loss and take-profit features right from the main terminal. You also have the option to save “templates” for future use which contains information about your different trading styles and preferences. You can also keep a floating window of trades and carry out other tasks so you can constantly monitor the market.

If you rely on news for your trades and act based on significant public events, the OCO (One cancels the other) feature may be very useful to you. Using the Session Map which displays changes based on news events you can create an “OCO” which will leave a certain action in queue to be executed after the effect of the news event gets underway. Once the news factor has taken its toll on the market, this feature will allow you to quickly buy or sell your currency depending on which way the market is moving based on the news item. The pre-meditated action would either be buy or sell, so upon release of the news, you can either buy or sell and cancel the other, such the term “one cancels the other”. You can also enable the best of both worlds by partially closing orders which will allow you profit when prices move in your favor and will also prevent major losses if things go south.

As mentioned before, notifications can be setup. This feature is exhaustive allowing you to set notifications for a variety of factors via several mediums including text messages, emails and social media. Some of the notifications that can be set up include news items, thresholds of balance, profit, etc. and other market fluctuations.

The Sentiment Trader tool can be useful as it gives an estimated overview of the mindset among the general public regarding a certain trait. This is a good tool if you generally don’t have much of a gut feeling regarding a trade.

The above described features are some of the most notable ones. There are plenty more that have been included in the Supreme plugin which is covered in the Admiral Markets website.

About Admiral Markets

Hosting thousands of clients and trading billions of dollars every month, Admiral Markets is one of the most notable foreign exchange trading platforms. Apart from foreign exchange, Admiral Markets has also dipped its foot in other areas such as fossil fuels and precious metals. Starting off in 2011, in just 4 years it has gained much ground with exponential growth due to its top quality features and active clientele. Admiral Markets has grown globally to service various continents from Europe to South America.

 

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