There are many and varied binary trading tools available for you to use to help you predict the price action of an asset, with perhaps the most important trading tool available for traders being the trading platform itself. Without this tool the trader would not be able to place any orders to the broker. The trading platform is the one trading tool that a trader cannot do without and that is why we have made it our primary focus in Banc De Binary. It allows you, the trader, to trade binary options from anywhere you are as long as you have access to a computer, a tablet or a mobile phone.
The trading platform streams or transmits live prices from the markets to the trader’s computer, which the trader can use to reference against other market data and act upon it to trade in the right direction. There are additional trading tools that are available to the binary trader; they are charting software, live news feeds and economic calendars.
Firstly, the charting software generally comes with several of the most popular technical analysis tools, including, moving averages, Bollinger bands, Fibonacci retracements, stochastic and momentum indicators.
Sites like NetDania.com provide traders access to charting software and many other trading tools as shown in the graphic below. Most Charting Software has similar menus where you can choose the trading tools you want to use.
The graphic below shows the charting software that one of the popular sites has to offer those who are registered on the site.
Sites like Investing.com offer fundamental analysis in the form of real time economic calendars like the one shown below.
Live News Feeds
Other trading tools available on these sites are the live news feeds and analysts forecasts and comments which all help to give you an idea of where the price action is heading. The graphic below shows major news and some professional analysts’ comments.
These are the binary trading tools available to the new binary trader. As you have seen, they are many and varied. Learning how to use them and how to interpret what they indicate is a fantastic investment of time for new traders.