Best indicators for binary options trading in Nigeria
Best indicators for binary options
In recent years, binary options trading has become a common form of investment in the financial markets. Some of them were able to earn decent money, others lost the same amount. Often the problem lies in the fact that beginners open trades relying only on their intuition. It can also be successful, because the essence of a binary option is to predict the price behaviour. For example, the most classic binary option is called "higher / lower". All that is required from us is to correctly determine whether the value of the asset will increase or decrease by the time the option is exercised. We ourselves set the time until the completion of the transaction (execution), for example, you can choose 10 minutes. Next, you should determine which development of events is more likely that the price will rise up or down in 10 minutes.
But in order not to rely only on luck, experienced traders use various types of analysis, they include fundamental and technical.
Technical analysis is the prediction of how asset prices will behave in the long term using special technical signals, trend lines, bottoms and tops, and other similar moments.
There are some interesting features of this method, the study of which will make the work more stable and successful. The main components include:
- Trend lines. They are used to drawing lines through those points at which the value will reach the minimum and maximum values. The correct line must pass through at least three high and low points. The line chart is the simplest visual price analysis.
- Triangles. These are common analysis patterns on a chart. They are formed by two trend lines. There is an ascending triangle where all the required high and low lines can be seen. The asset price will move between the corresponding lines. Gradually, there will be an approach to the special convergence point. The closer it is, the sooner the time will come to break through the line.
- A candlestick chart displays a range of values for price information, such as open, close, high and low, and uses candlestick charts, each of which gives an overview of trading performance over a period of time (minute, hour, day, month, and so on).
Also consider the best binary options indicators. They have been used by successful experts and traders. If you use them effectively, you can increase your chances of winning.
Trading technical indices will give you a good understanding of the state of the market. It can help you determine the direction the market is moving and inform you about how the price is moving.
The most famous indicator is the moving average or MA. It allows you to understand the trend of the market. It is a trend indicator, which is a curved line that is calculated based on price changes. Accordingly, the moving average is the trader's assistant that confirms the trend. On the chart, it looks like a curving line repeating the price movement, but more smoothly.
MACD. Most professional traders will use this MACD indicator as the best binary options indicator. The oscillator is very effective when looking for the beginning of a new market trend, which is an urgent task. The most accurate MACD signals are obtained during high volatility in the market, so it is advisable to use "mobile" assets, as well as to make deals during the daytime. Focus on the intersections of the middle lines of the indicator. I recommend considering the option of buying an option "above", when the lines, crossing below the zero mark, begin to move up.
Bollinger Bands. This is another popular indicator. It includes several bands. You can use this indicator if the price fluctuates in a specific range. This will make it possible to determine the upper, lower boundaries of the price.
Parabolic SAR, like all trend ones, is lagging. In independent mode, it generates many false signals, therefore it is recommended for use in conjunction with other tools. For example, with the above MA.
On-Balance Volume (OBV). Trading volume is a valuable indicator in itself, and OBV allows you to extract even more data. This indicator measures the cumulative selling / buying pressure by adding volume on uptrend days and subtracting volume on downtrend days. Ideally, volume confirms trends. A rising price usually goes close to the growing volume of trading, and vice versa, the volume decreases when it falls.
You will need Stochastic to determine the entry to a sell / buy trade. It will show you the most optimal moment to enter the market and provide information about the state - overbought / oversold - of the instrument used in real time.
This is just a part of the popular indices, over time, you will choose the best indicator for yourself for binary options.
Binary options trading strategy
There are many binary options trading indicators that can help you in determining the behaviour of the market. To be more likely to profit from options, it is imperative that you understand how to interpret market signals. This way, you will be able to make more informed decisions about when to enter or exit the trading game.
There are many binary options trading indicators available to you. The trading platform has many indicators built into the interface.
These indicators can be used to see if your options trading strategy is working. There are also a great variety of strategies, from trading based on economic news to indicator trading. It is based on one or more of the best indicators for binary options.
It is impossible not to remember the importance of fundamental analysis. Furthermore, it is a very effective tool for determining the value of the shares of various firms. For this, forecasting of market dynamics is applied. External and internal factors can be used as the main parameters for the assessment.
The analysis assumes the implementation of the forecast regarding the dynamics depending on the actions of the macroeconomic indicators of the states. It focuses on business activity indices and macroeconomic indicators of various countries. Thanks to him, you can outline an approximate plan of action for about a week.
One of the most common ways to make money based on fundamental analysis is news trading.
The bottom line is that you analyze economic, political and even weather news and predict which ones will resonate in the financial world.
Simple indicator strategies use one or a maximum of 2 indicators with very visual signals, such as trend indicators. Complex strategies include those where you need to open indicators on different timeframes, connect more than 2 indicators and use more complex tools like the Alligator or Ichimoku.
Trend strategy. Asset prices usually move in line with trends. The price will rise or fall along with the accompanying assets, as the market is constantly speculating and in real time.
The safer way to go about trading trends is to focus on the general direction of the trend.
Most traders profit by looking at the general direction and setting the end of the day or end of the week to expire. This strategy does not work well with short-term trades.
You must remember that using the strategy only once will not bring you any profit. Re-trading is the only way to find out how well a strategy is working for you. Going from idea to idea won't help - sticking to a strategy and optimising it for your needs will almost always lead to profit.
It may take work to learn how to read charts, trends, and books. The more time and effort you spend figuring out how to use these indexes, the more successful you will become. Learning how to use these tips correctly will help you find better deals and increase your earnings.
Indicators of binary options on the online platform
The first step to opening your business on the exchange is to open a trading account. This can be done online on a platform that is a trusted broker. Once you have registered and opened your account, you can start trading. Registration will require a couple of minutes of your time, it is free and will give you access to all the advantages of the platform, such as news, charts, chats, the best indicators for binary options, a mobile application, etc.
At first, you cannot do without technical market indicators; even professional traders rarely completely abandon them. To do this, you need to know the market like the back of your hand and feel the price movement like your own pulse. But you shouldn't cover the window with a dozen charts either, as you will completely lose control over the situation. The optimal number of indicators is two or three different types, it is advisable to set them not at random, but according to your chosen strategy.
We advise you to gain experience in the field of trading, relying on the virtual account that we can offer you.
The demo account is almost the same as the real one, but with one distinctive detail - the account balance is virtual. The demo account has a live price chart, which is already a very necessary and important option. Working on a demo account, you are trading in a live binary options market situation occurring in the present time. By doing this, you can easily achieve the first invaluable experience, learn the best techniques and strategies, understand the trading terminal, study your possible mistakes and, finally, choose the best indicator for binary options for yourself and trade with it in real conditions.
When you want to open a live trading account, you simply click the top-up button in your account. After that, you fund your account with the required amount. But be careful. To preserve capital in general and ensure security for your trading account, make it a rule: do not invest in one transaction more than 5% of the amount that you have. If you follow this rule, in the event of an unfavourable deal or even several, you will not lose a large amount of money. Good luck!