In my search for the “ideal” trading platform, I was “fantasizing” about my dream trading platform. Today, most trading platforms should already have the “must have” features, like entering market, limit, stop orders , charting, account management etc. Below are some “good to have” features which I am yearning for:

A strategy-based account

With this, I can specify for which trading strategies the trades are for and with a glance, I can tell how the particular strategy is performing. Well, traders use more than 1 strategy, and my account statement will be clean.

Customizable account statement

This is for me to save some time keeping a separate trade blotter which I would record the trades that were taken. Since the account statement would already capture all my trades, it would be nice if I could customize it to include the columns I wanted.

Right-click and “Save chart for trade journal”

It would be even better if the charts can be presented together with the corresponding trades and that would replace my trade journal!

Trade from charts

When I click on a price level which I wish to place an order, the order will be entered and a floating dialog box prompts me to enter my profit target and stop loss (or specify them on the charts directly). Best if I can keep my eyes off the charts when entering orders.

Provides both online and desktop platforms

…that are exactly the same!

Automated money management features

After an order is filled, I have the option of specifying where are my next profit target and stop loss levels and they will be adjusted automatically as the prices move…all out of the box.

Flexible orders

Must allow me to take partial profits…

Alerts

Alerts are useful so that I don’t have to keep my eyes on the charts. I can set it to alert me when trade opportunity arises.

Adapting a line from Cadbury chocolate: Wouldn’t it be nice?

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