How tools can take your trading to the next level

Ted Capwell Updated:

Tools for trading to a new level

When an average person enters the financial market for the first time, they are faced with an entire world that they know nothing about. Complex professional concepts, highly-intellectual approaches to market analysis and methods of forecasting asset rates, and psychological factors are only some of the initial issues newcomers face! That being said, the time comes quickly when all of the experience and practice begins to pay off and new online traders start to look for tools and approaches to increase their results and trade more effectively on the market. Today we will lay out a selection of tools that have the ability to take your trading to the next level. We hope that this information comes in use for beginners, as well as for seasoned professionals.


How tools can take your trading to the next level


So, to start, the approaches for increasing effective trading can be divided into groups. Currently, trading professionals divide tools for increasing effective trading into the following groups:

● Technical

● Psychological

Without a doubt, each of the groups of tools for increasing effective trading have many subgroups. We will cover the most common ones.

Technical approaches for increasing trading effectiveness

The first thing a trader needs to do is to take care when choosing a platform for conducting financial operations. Only technologically advanced, user-oriented and secure terminals offer the best opportunities for generating a stable income. At this stage, it isn’t important at all what tools you trade with, be it SFD contracts, FOREX, short-term over-the-counter positions or cryptocurrencies! In order to fully take advantage of trading opportunities, all you need is a user-friendly interface and lucrative financial terms.

Here are several simple recommendations:

● Pay attention to how secure the platform is. It is an open secret that it is easier to generate profit from financial operations on the market than it is to transfer those earnings into your bank account. Online trading is crawling with conmen and fraud, therefore, first and foremost, when you are choosing a partner, do your research on trading platforms, starting with what licenses they hold. These days, the vast majority of large companies no longer operate in a legal grey zone. They provide legal conditions and tools for online trading

● Look into how user-friendly the terminal is. The platform’s toolkit provides the necessary conditions for traders to create various strategies. Meaning that the wider the selection of tools the terminal has to offer, the greater the potential you have to construct a highly-effective trading strategy.

● Choose a terminal that provides the best financial trading conditions based on your needs. It is all quite simple, define in advance your financial abilities and the total amount of funds that you can risk on the market. Then, set yourself limits using money management techniques. Based on your parameters, decide on a platform that provides your ideal conditions for working on the market.

● Work closely with customer support. They can offer a lot of good information and advice. Currently, platforms are put in a bad place when a partner, meaning you, hemorrhages trading capital because they work primarily off of commission! This is why they have begun to attract professional analysts who consult traders completely free of charge. This can take your trading to an astounding new level in terms of results

Continuing on. In terms of technical tools for increasing effective trading, of course, you need to include strategies. These systems for market evaluation and the rules traders’ follow when trading in specific are more important tools for generating a stable profit. Therefore, you should have as wide a variety of strategies as possible in your arsenal.

You need to study the different types in order to have the most effective arsenal of trading systems that you can. This isn’t a problem, all systems are divided into:

Technical Analysis Strategies: Indicators, Price Action

Fundamental Analysis Systems

If you want to improve how effectively you trade, then you should adopt some of the best strategies from each group. Then, you can generate contracts that produce results in all market situations and using all financial assets and cryptocurrency market tools. It isn’t difficult to find strategies to choose from, there is a wide selection of analytical approaches available online. Here we also have the following simple recommendations:

● Aim to put your own trading strategy together, one that reflects all of your personal preferences in terms of trading on the market, experience, and practices. Experience has shown that the traders who produce the best results use systems that they themselves have designed

● At first glance, not all effective strategies are like this. Which is why you always need to test out all your trading approaches yourself. So you can better understand how the systems work for yourself, in your own practical experience, not relying on the advice of a third party

● Strategies designed for specific conditions! There is no universal trading strategy! So be prepared, as in certain situations even the most effective system can bring losses!

Create your own portfolio of effective trading systems. You will increase your market analysis potential, thus improving how effectively you trade overall.

The selection of indicators developed by Bill Williams, without a doubt one of the most brilliant analysts and traders, can be used as concrete analysis tools for improving how effectively you trade. Altogether, his analysis services enable you to achieve the best possible results through clearly worked-out approaches for their practical application in market analysis. There are a total of 6 indicator tools that can be used as a basis for developing more effective trading strategies. We recommend these forecasting services for increasing how effectively you trade on the market:

● The АС (Accelerator/Decelerator)

● The Alligator Indicator

● The Fractal Indicator

● The Gator Indicator

● The MFI Indicator

● The Awesome Oscillator Indicator

Thanks to simple algorithms for evaluating the market, Bill Williams was able to create more effective tools that can improve the trading results of any trader

As you can see, the technical approaches for improving how effectively you trade are fairly simple in terms of format. However, if you implement these recommendations correctly, you can generate the maximum amount of indicators.

Psychological approaches to improving your trading results

Many beginners pay little attention to the psychological aspects of trading. This is a complete mistake. In the vast majority of cases, psychological drivers play a more important role in an investor’s trading results. It isn’t of any significance if they are feeling positive or negative, either way, traders can lose everything if they don’t analyze their own mental state. Therefore, psychology is an important aspect of achieving success trading.

● The influence of an investor’s mental state on their trading

The vast majority of participants on the financial market consider the fear of losing funds through trading to be the leading factor that influences traders psychologically. Of course, the financial question is important, however, these anxieties in specific cause more problems than inexperience or the lack of particular skills. On that note, it is worth pointing out that traders who produce stable and accurate indicators when trading with minimal funds can see their effectiveness decrease when they move to invest larger sums in trading positions. This is driven by psychological factors in particular. Investors are just scared of losing significant capital and end up making many mistakes because of it.

The solution to these problems is clear and doesn’t require any specialist interventions. It is simple, you should return to a financial level where you feel comfortable. To put it simply, only trade with funds that you can risk without creating any problems. This limit will be different for everyone. This will enable you to gain the skills necessary to prepare you for when you do move up to a higher level. Overall, the market divides traders into two relatively equal groups:

● Investors who are in control of their emotions when trading – typically this group is more successful and produces the most indicators

● Traders who can’t control their emotions in terms of trading – These investors will lose their money sooner or later

In any case, both groups strive for psychological perfection when trading. Human beings are such efficient creatures. We have the ability to decide to resolve practically any psychological problem simply by analyzing the reason it arose in the first place. As a basic example, let’s say you are afraid of losing large amounts of money. The reason for this is that you moved to a higher trading level without the necessary skills and knowledge that would ensure that you were confident in yourself. The solution is simple. Use less capital and educate yourself professionally. Gradual experience will lead to confidence and the knowledge necessary to trade with a bigger account.

Investors need to follow these basic rules to overcome psychological problems and emotional factors:

● Stay calm in any situation. The conditions on the market are often difficult to work with due to sharp asset price fluctuations, impulses, or surges in volatility that are difficult to forecast. This increases the psychological pressure on traders and leads to mistakes. Keep your emotions in check or put aside trading when you are emotional! An alternative option is to start trading with lower-cost contracts.

● Closely adhere to the rules of your trading strategy. It isn’t worth adjusting your trading system based on your emotions. Technical analysis isn’t an exact science. Every strategy can fail in certain circumstances. However, professional strategies take into account the risk factors, the possible level of loss shouldn’t bring you to your knees, jeopardizing everything. It is almost always a mistake to edit your system, always follow the rule of the strategy and adhere to your plan.


● Continuously control the trading process. It is a very effective tactic to keep a trading journal where you make a note of every trading position and the conditions in which it formed. Therefore, you can resolve both technical trading problems, as well as psychological factors

● Don’t second guess your decisions. Many traders are familiar with the situation when their strategy produces a clear signal for placing a contract, but they are worried for one reason or another about the accuracy of the signal or want to wait for more ideal conditions to enter the market! However, the rates leave the zone for placing a contract and the trader loses their opportunity to form a lucrative trading position! This is a problem many investors face, so put your doubts aside and follow your trading plan and strategy when working on the market.

Once you set into place the aforementioned psychological and technical trading conditions, you can avoid nearly all the emotional factors that influence trading. You will become more reliant on your strategy, the most effective tool for generating profit, rather than an investor’s feelings or state of mind. Therefore, you will take more effectively thanks to the accuracy of your technical trading strategy, not pointlessly struggling with your fears and anxieties.


“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”