To get good results from binary trading, you need to expand your range of approaches and forecasting tools. However, most traders are often fixated on using only a few strategies and forget that there are various support services, which are usually offered by the trader’s binary options broker. For this reason, let’s look at a variety of broker support services that can help increase trading results by using the example of the Binomo company. Let’s start with the most simple one.
This support tool is quite popular, but traders typically pay little attention to it. And that’s in vain! Its algorithm is built on the processing of statistical data on the number of trading positions processed in a certain direction of quote movement by all market participants. Not to be confused with trading volume, the indicator shows the majority percentage of the number of contracts, irrespective of their total cost. Using this indicator helps to determine the overall trend sentiment of a large number of traders and, consequently, a fairly accurate prediction of quote movement. It shows the direction of trading of hundreds of thousands of traders who have their own approaches to binary trading, which means that when using the indicators of this support service, you get a compilation of information on different types of analysis.
There is an analytical section on the Binomo broker’s website, which has daily posts on technical market analysis of prospective trading assets. After receiving a detailed overview of the situation based on a variety of technical indicators and the analytical calculations of experts, the trader gets an idea of the possible evolution of the situation during quote fluctuations throughout the day. It would be difficult to overestimate the usefulness of such information. Using the broker’s analytical information can be considered a separate approach to binary trading. In this case, the trader doesn’t need to collect and analyze a lot of information or do any complex calculations.
Without an understanding of the market situation at the macroeconomic level, it is difficult to make long-term forecasts for the movement of asset quotes. Often, players in the financial market do not have the time to study a large volume of information, but with a summary of expert opinions on the impact of this or that publication on the market situation, the trader can make corrections in their own strategy, as well as build a trading system based directly on publication releases (trading on the news). As a result, the trader increases the efficiency of their technical strategies and the profitability of their own statistics.
The indicator set
This is probably the most useful and widespread support service on the binary trading market. Traders would not be able to build strategies without indicators, which is not surprising. Unlike the previous support services that provide forecasts on market movement in the long-term perspective, indicators can identify specific points for trading in more narrow time frames. Thus, the use of indicators and indicator strategies is simply indispensable for profiting from options trading. The Binomo broker’s set offers a short list of indicators, but there are enough to develop strategies and achieve high trading results.
To summarize, we can say that only the combined use of all the support services offered on the websites of brokerage firms will lead the financial market participant to rapid success. By expanding your predictive tools, you get a large amount of useful information that can affect not only the overall results of your financial activity on the market, but also the efficiency of your day-to-day approaches and strategies. If you ignore these support services, you are just cutting yourself off from a flow of useful information.