Traders need to be careful in selecting an array of trading tools. Subscribe to services such as the MACD (Moving Average Convergence/Divergence) or the RSI (Relative Strength Index). The RSI records the size and velocity of price movements. It also monitors and tracks the strengths and weaknesses of different assets by utilizing the closing price data relative to a time period. The MACD is a tool that gauges the strength of a price movement and the direction that it is headed. Both information provide support that reinforce your position whether to place a Call or a Put. Also, try to read online materials that can help you in your daily trading. I usually reference traderxp broker review site TraderXP Review for a list of reputable brokers, as well as helpful trading tips to further my profits in binary trading.
Let’s try Autochartist tool from lite forex…
It’s good guys, the new innovation from liteforex.
Tried AutoChartist for two months and it was not a winner. Every trade was a loss.
[QUOTE=“ForexAdvisorsLLC;613971”]Tried AutoChartist for two months and it was not a winner. Every trade was a loss.[/QUOTE]
Relying on anyone/anything else to tell you when to trade is not sustainable in the long run.
I suggest you to go for Meta Trader4.
I’m sure you are not know deeply about the characteristic of those indicators, you must understand it more and more…
Autochartist and widgets work for me, mainly live currency rates and pic calculator. lots of them out there for you to choose from
The MACD (moving average convergance divergance) is one of the best tool for trading. The MACD is simply the difference between these two moving averages, which are generally a 12-period and 26-period EMA(exponential moving averages).
[B]Which trading tools to use?[/B] Are you asking or telling? looks to me like you are telling us, but if you are asking then I suggest that you start trading binary options “with calls and puts” using the simplest of trading indicators which you can understand and use with your eyes closed, not by using the ones MACD/RSI mentioned in your post.
my suggestion is to read as much as you can and try different methods until you’ll find the one that is best for you, it’s very individual.
Good suggestion.
Meta Trader4 is really a good tool used by online retail foreign exchange speculative traders. This software is licensed to foreign exchange brokers who provide the software to their clients.
Could have not said this better.
Since I trade the news, my Trading Tool is the holy Economic Calendar 
I really love to confirm my own results with results from TradingCentral.
Few Brokers offer TC Indicator that you can see the key levels live in your chart. But please do not follow blindly Trading Central key levels. Most time they work but nothing is holy grail!
Fibonacci Trading Signals
The best trading tool to use? Simple, get rid of all that worthless squiggly line stuff on your chart is blocking your view of the price. And use only the best trading tool out there, that’s the one above your shoulders. It’s price that pays. Allen
yes of course, trading news must mastering the fundamental analysis.
Without is you just being a looses in forex. Right now, Im active in liteforex and fxcm broker, for what?. just for making real money there.
My suggestion is to look at the chart as it is. I work on Meta Trader4. I analyse the chart technically for myself. I do not use any indicators but I use Fibonacci Retracement to determine the measure of correction and get the take profit levels. The local tops and bottoms on H4 and H1 show the main direction. In addition I look carefully at the dynamics too. If the dynamics get stronger in my direction, I look for entry on M5.
Definitely,honestly I think the lack of rules imposed on the forex has made it very hard and difficult to know what we should and what we shouldn’t use to help us trade.Relaying on Indicators/one method alone isn’t the best option as a trader, sorting/trying out different strategies and knowing the one that works well would be the surest way.
Trading the news might be one of the riskiest way to trade IMO , i might be wrong Good luck
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