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Why Should You Use a Binary Options Chart?

The hardest part about trading is predicting the outcome. Predict it wrong; you’ll LOSE money. To do it right, you NEED a live technical analysis tool. Always use a live chart before you start trading binary options, digital options, CFD, ETF, or Forex. And why not use our live chart? Here on our website, you’ll find some of the best tools for technical analysis. The analysis isn’t just regular analysis; it’s greatly improved. Plus, we have an online chart for trading binary and digital options.

How Do I Use A Live Schedule For Trading Options?

Like most things, learning a new tool takes time. So please be prepared for the learning curve. Before using the graph, you should thoroughly know what it is. Most beginner traders will usually limit it to one asset or currency pair in a trading session. To trade, you should know the purpose of each element on the graph.

Basic elements include:

  • Asset and Currency Selection

    Asset and Currency Selection (Search any symbol)

  • Timeframe

    Timeframe (Select a time filter of your choice)

  • Analytics Chart Type

    Analytics Chart Type (Choose how you want the info displayed)

  • Indicator Selection

    Indicator Selection (Helps do some of the work for you)

  • Auxiliary Tools

    Auxiliary Tools (Work with trend lines, various patterns, tools for taking notes and planning the opening of a long-term trading position)

Asset and Currency Selection

Asset and Currency Selection

Here is where you choose which asset or currency you want to track. Just click the box and make your choice in the menu. Keep in mind that the asset names will be abbreviated. You will catch on to the naming system as time goes on. The schedule gives you all the info you need to analyze an asset. If you are an experienced trader, you can use our tool to simultaneously trach more than one asset. Doing this would create your risk management.

Timeframe

The next element is your timeframe selection. You can track the asset anywhere from literally one minute to one month. If you are wondering which dates to choose, do this. Choose purely based on your knowledge and manner of trade. One rule of thumb is to never focus on just one timeframe. Compare it several times to get the correct analysis. If you trade on long positions, choose a reasonable timeframe.

Analytics Chart Type

Your chart type is a factor that you should change depending on your trading tactic. The available options include bars, line charts, candles, dots, and shapes. Note that the vendor may not support every one of these types. Also, for each chart type, there are different signals available.

Indicator Selection

Indicator Selection

Indicators are one of the best parts of live options. The “indicate” when it is the best time to open or close your trades. Warning! If you use too many indicators, they could give you the wrong information. Too many make interpreting the indicators much harder. Avoid this by using them individually. If your trading scheme does require more of them, use more by all means. If your indicator stops working, refresh the page and configure it again.

Auxiliary Tools

The left part of the graph is for experienced traders. Many icons indicate additional tools. Use these tools in sync with the main ones. Also, consider other tools for all types of trading. We won’t list them here since each graph may be a little different.

Data Reliability

You shouldn’t just trust any online binary options. Only use online graphics from trusted providers. It means you have tested the provider, and there is good user feedback. If they don’t have feedback and reviews, compare the live data with your trading platform and make sure it matches. The bad thing is this. Dishonest brokers could change the numbers, so they earn from the trusted traders. So it is better to check the provider you use before you shame binary and Forex publicly.

Where Can I Find Live Graphics?

There are charts online and offline. Many websites also share them. For trading binary options, analytical charts are the best for trading in the Forex market. The most popular places where you can find live graphics:

Other Tools From The Analytics Element