Archive for September, 2013
There are many different trading platforms available for providing information on various financial indicators along with charting and trading in binary options. Metatrader4 (also known as MT4) is one of the most popular trading platforms for binary options and foreign exchange market. The software is made by Meta Quotes and has been available in the market for many years. There are many reviews available online for this trading platform and every trader has positive things to say about the software. Overall, MT4 provides all the required tools to become a successful binary options trader.
in this blog post,our focus will be on how to trade binary options profitably with mt4 platform.
To install this binary options software, you need to download it from the website. Installation is very straightforward and you just need to select yes or no for various options presented during the installation.
The opening screen of the software displays four currency pairs. There is also a toolbar at the top which provides easy access to various options in the software. There is a market watch window on the left side of the screen which displays live Quotes of various current pairs. These quotes display both the bid and ask prices. It is important to note here that these are real-time prices. There is a navigator window at the bottom which allows you to see various financial indicators on your screen. It is very easy to customize the tools present in the navigator window with the help of programming. This is one of the major reasons of popularity of this particular software as it allows the reader to customize trading software as per the likes of the trader.
All of the charts available in the software can be customized. To customize the charts, you need to right click and select the properties. In the properties window, you can easily change various things such as background color and other things. You can also customize various other options such as display of volume and display of ask line and other factors.
The customized chart can be saved as a template. Therefore, once you have customized the chart to your liking, you need to save it as a template so that next time when you open the software that particular chart is available to you without customizing it again.
This particular platform also offers a lot of indicators. To select indicators, you need to click on the add indicators button on the toolbar. It will show a list of various available indicators which can be added to the charts. Various options such as volume indicators, trend indicators and oscillators indicators are available in the selection. A trader can also change the values of an indicator by making changes in the preferences setting.
The software also features various time frames. One can select a time frame as short as 1 min to as long as one month. It also allows the trader to view the particular instrument in multiple time frames. MT4 also provides the trader an option to draw various charts by using drawing tools available in the software. One can choose drawing tools from the drawing tools tab. These can also be customized to one’s liking.
Overall, the software offers a lot of information to binary options traders for making winning trades. However, utilizing the the software to its full potential depends on the trader and the trading strategy.