Trading Platforms and Tools

Your trading efficiency depends heavily on how well you use your platform’s features. Understanding all the tools in your terminal helps you trade faster, more accurately, and with fewer mistakes.

What to Study First:

• a) Order Types and Their Use Cases/
  Master how different order types work and when to use them:

• Market orders — for instant execution

• Limit orders — precise entry with better pricing

• Stop orders (Stop Loss, Stop Limit) — protect positions from large losses

• Take Profit — automate profit-taking at target levels

• Trailing Stop — lock in profits as the market moves in your favor

• OCO (One Cancels Other) — set TP and SL simultaneously

• Iceberg Orders — conceal large order sizes by showing only a small portion on the market
  Iceberg orders reveal only part of your position to the market. Used by experienced traders or when handling large volumes, they reduce the risk of triggering price spikes.

• b) Platform Interface

• Customize workspace to your needs

• Use hotkeys for rapid order placement

• Read order books and time & sales (tape)

• Set up charts and timeframes

• Sync charts with orders

• Set up alerts and notifications

• c) Account Types and Their Features
  Understand the mechanics, benefits, and risks of different trading types:

• Spot trading — buying/selling real assets without leverage

• Margin trading — using borrowed funds (know the risks!)

• Futures — leveraged contracts; understand liquidation, funding rates

• Options — limited-risk strategies with high reward potential

• Compare fees and risks — choose the right account type for your strategy

• d) Additional Tools

• TradingView — powerful charting and TA platform

• Coinigy, 3Commas — multi-exchange trading terminals

• Trading bots and automation — use with caution as a beginner

• Data aggregators and analytics platforms

• Position size and risk/reward ratio calculators

• Practical Study Approach:

• Start with a demo account or small deposit

• Master one order type — test it 10–20 times

• Gradually introduce new tools

• Create a pre-order checklist

• Practice placing SLs and TPs quickly