If you intend to put any effort into trading binary options and want to give yourself the best chance of winning, then it is suggested to use a few trading tools to help yourself.
I think most traders would agree that the single-most important tool are charts. The brokers you will use, even the good ones, use barely acceptable charts.
This page is strictly for analysis of platforms and the systematic tools I have used or am using for binary options trading. This section is not going to discuss strategy and the many strategic systems out there. You can find out about binary options strategy here. Or if you would like to know about tried and trusted brokers, have a look here.
These are the trading tools I currently use for Binary Options.
Binary Options Trading Tools – Find useful trading indicators
What you need is consistent wins and you can only do this by giving lady luck the heave ho. Metatrader4 is perhaps the most important trading tool you will need.
Many of the strategies I teach you about will assume you have a basic knowledge of candlesticks. I will explain more about them in a future tutorial, but for now you could easily read up on them elsewhere on the net — Plenty of info out there to learn. I recommend you download and install MT4 using Vantage FX.
They are free and you can even set up indicators on them. There are two main types of analysis for trading the markets, whether in Forex or Binary Options.
These two types are technical analysis analyzing indicators, looking for price action, etc. You cannot ever underestimate the power of news. It affects the markets on a daily basis and in a dramatic way. Many traders trade only on fundamental analysis. Why does it go down? Because less unemployment means a better US economy, means the US dollar gets stronger, means that it does better against the Euro — And this change is instantly seen on the charts the exact moment the announcement is made.
These announcements are not made willy-nilly.
They have a specific, planned release date and time. The most important economic announcements for each country appear listed on the economic calendars.
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There are websites that offer their economic calendar free of charge and it will update automatically the moment the announcement is made. This allows you to place a trade in the correct direction and hopefully improve your chances of winning.
I prefer the investing.10 Best Binary Brokers In 2017 - Top Binary Options Trading Platforms Review - Youtube
I find their instant feed one of the fastest and you need that news quick! You are also given an indication of how much impact and volatility that news is expected to have on the market.
Bin - MT4 Binary Options - Tools4Brokers / Tools For Brokers
In many of my posts I teach you how to read indicators. In this section, I will tell you the most useful ones for you to use in Binary Options trading.
All of these indicators are free and they are already included for use on your MT4 platform charts. There are other third-party indicators that can be purchased for a small fee, but I will cover those in a different section.
Instead, I will just list them. Powered by WordPress Designed by Elegant Themes. Here on this page I will describe the tools I use and their function.