Live graphics as an effective analytical tool for online trading

By Guder Sand

Participants in the global financial market use a wide variety of marketing moves to attract new customers, many of which help traders to conduct profitable operations. In the list of analytical tools, a live chart is considered one of the most effective and common “assistant”, which is of interest not only for beginners, but also for experienced traders.

The considered service of financial brokers allows you to track even minor changes in the market and analyze the current situation in it in real time. At the same time, users do not need to download and install additional programs or periodically pay money for updating applications. By studying the changes that have occurred with the asset of interest to you over a certain period of time, you can find factors that affect its quotation.

Possibilities of live charts for binary options

Experienced traders always use all available tools to analyze the situation in the financial markets, which allows them to significantly increase the number of profitable transactions.

A live chart for binary options is of interest to users of trading platforms, thanks to the following features:

? The tool allows the use of technical indicators, on the basis of which trading
strategies are developed.
? Users can engage in technical analysis using familiar, not complex indicators, which
is very important for novice traders.
? By adjusting the charting period, you can get information about all changes in the
market that have occurred over the length of time that interests you.
? Most trading platforms allow you to build a graph with different options for displaying
data.

The success of binary options trading largely depends on the ability of the trader to quickly respond to any changes in the situation in the financial markets. Live graphics working online, in this case, are indispensable tools.

Before starting work, the trader selects the underlying assets (currency pairs, securities, raw materials, metals, etc.), the time period and the corresponding indicators. Analyzing the situation in the financial market online, the user must predict how the value of the asset will change in the near future. After that, you can bet and buy this contract. Given the specifics of binary options (in order to earn income, it is enough to determine the direction of the asset price change), we can say that this type of online trading is the  asiest way to study live charts.

What are Forex live charts for?

As in the case of binary options, a live forex chart is one of the main conditions for successful trading. The tool in question can be customized according to the individual needs of the trader. Online charts allow you to monitor the change in the value of currencies (or other financial instruments) in order to conclude the most promising transactions based on the information received.

Presented online charts are designed for both experienced traders and beginners. Users do not need to download additional applications to get the opportunity to use live graphics. They work great in almost any browser. But the most important advantage of this analytical tool is its ability to work online. Experienced traders use these charts to study and identify weaknesses in their trading strategies.

Beginning traders, before moving on to the study and practical application of graphical information, must choose the appropriate trading platform. The field of this is to go through the profile registration procedure (verification) and study this service using a special demo account. Not a single lively schedule will help a beginner without a minimum of theoretical and practical training.

The popularity of online charts

Experienced participants in the global financial market highlight the following advantages of the charts under consideration:

? They relieve traders from the need to search for information according to specified
criteria.
? Work online, the choice of the trading period is provided.
? The trader chooses the way to graphically display information.
? Live chart allows you to display all the necessary data on different indicators in one window.
The structure and types of online charts
The main elements of the considered analytical tools are:
? opening / closing time of the trading period;
? maximum / minimum price of the underlying asset during the trading period.
Classification of the most common forex charts:
? Linear – one line with indicators such as the open / close price over a certain period
of time.
? Tick – a chart, in the form of columns, where the top is the purchase price, and the
basis is the sale.
? “Japanese candles” – include all of the above indicators.
? Equivolume – shows the activity of sellers and buyers.
? Dot-digital – displays the change in the value of the asset at the close of the trading
period. Zeroes show a decrease, and crosses show an increase.
? Three-line breakout chart – not time-bound, consists of rectangles, the height of
which displays price changes.

Based on the information presented, each reader can make his own conclusion about how much the presented graphs will be useful for his work in the financial markets. But, regardless of your choice, you always have the opportunity to test the effectiveness of live schedules in practice.