If you trade crypto or are just about to start, a terminal is something that will make your life much easier. It is a professional tool that helps analyze the market, manage transactions and reduce risks. Let's figure out how it works, what terminals there are and what to pay attention to when choosing.
A terminal is a program or platform where you can:
View charts and analyze price movements.
Quickly open, close, or change trades.
Set up automatic orders (for example, stop-loss or take-profit).
Simply put, this is your trader's workspace, which helps not only save time but also make more informed decisions.
Basic principles of working with the terminal
Market analysis
The terminal provides tools for working with charts, indicators, and statistics. You see not only the current price but also trading volumes, historical data, and even forecasts.
Risk management
One of the key principles is protecting your assets. In the terminal, you can set up stop-losses to exit a losing trade in time and take-profits to secure profits.
Automation
Many terminals allow you to connect bots or algorithms for automatic trading. This is especially useful if you cannot constantly monitor the market.
Types of terminals
Browser-based
These are web applications that work directly in the browser. They are easy to use and do not require installation. Suitable for beginners.
Desktop
Such programs are installed on the computer. They have more functions and capabilities than browser-based ones. This is the choice of professionals.
Mobile
Terminals in the form of smartphone applications. Convenient for those who want to trade anytime and anywhere.
How to make the right choice and what to pay attention to:
Functionality
Think about what you need: chart analysis, quick orders, or automation. Make sure the terminal supports these features.
Interface
The terminal should be straightforward. If you get confused with the buttons, you waste time and money.
Exchange support
Make sure the terminal works with the broker you choose.
Cost
Many terminals have a free version, but you will have to pay for advanced features.
Reviews
Read what other traders are saying. This will help avoid mistakes.
Which terminals are popular?
TradingView — the best for chart analysis.
3Commas — trading automation and risk management.
Binance Terminal — a built-in tool of the exchange itself.
Coinigy — for those who work on multiple exchanges.
A terminal is not just a tool, but your assistant in trading. It helps you see the market more deeply, act faster, and make more accurate decisions. If you want to develop as a trader, you should spend time choosing the right software. Remember: a good tool won't do the work for you, but it will definitely make it easier!
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