Managed Binary Option Trading

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Optimarkets account binary optionsIt is time togive binary options traders auseful tool inperforming technical analysis when trading binary options. While binary options brokers provide you with charts that allow you tosee thegeneral price trends, amore versatile charting platform is needed if more accurate information is desired. Aflexible charting platform is also important forthebinary options trader toinclude many indicators that can help them make more informed decisions.Apopular charting platform used bymillions oftraders is MetaTrader 4, known asMT4 forshort. MT4 is awidely used electronic trading platform. It is used bytraditional speculative traders aswell asbinary options traders. MT4 was developed byMetaQuotes Software andreleased in2005. Thesoftware, which uses both aclient andaserver component, is licensed tobrokers who provide thesoftware totheir clients.Theserver component is run bythebroker andtheclient software is provided tothebrokers clients, who use thesoftware tostream real-time prices through charts. Thesoftware also allows thetrader toplace orders aswell asmanage their account. If you have Microsoft Windows running onyour system, then you should be able touse MT4. But, some brokers provide their own custom developed MT4 variants fortheMac OS.TheMT4 offers users with amultitude oftools tomake trading easier, including superior charting, automation, andorder execution capabilities. Effective andefficient trading is what results when abinary options trader uses theMT4 platform. MT4 is available fordownload intheInternet, andthefirst step tousing theplatform is ofcourse downloading theinstaller andsetting it up onyour system.If themarket watch window does not show up inyour platform, you can press CTRL-M, orselect View - Market Watch. Additionally, you can click ontheMarket Watch button onthetoolbar todisplay themarket watch window.MT4 will display all ofthecurrency pairs that are available foryou totrade. Prices inred are theones that have just ticked down, whereas prices inblue are theones that just ticked up. Atthebottom oftheMarket Watch window, you can see atab that says tick chart. If you wish tosee atick chart, just click thecurrency pair that you wish toview andclick thetick chart tab.From here, you can open anew chart window orexecute anew order. You can also modify theMarket Watch window toshow thehigh andlow prices fortheday, aswell asthetime ofthelatest quote.TheNavigator window is thecontrol center ofMT4 where you will perform themajority ofyour functions. Theaccount button allows you tologin tothedifferent Forex trading accounts that you may have. Theindicators button will allow you toopen all ofyour indicators. Bysimply dragging theindicator into thechart, aparameters box will be displayed. Here you can select your preferred parameters, andonce complete, theindicator will appear onthechart.One ofMT4s best features is theability toimplement trading robots onto your account. Robots, also known asExpert Advisors allow you toemploy trading strategies without having tomanually place orders. Therobot does it automatically. Similar toindicators, all you need todo toimplement theExpert Advisor is todrag therobot into thechart.Toactivate therobot, make sure that thecheckbox forAllow live trading is ticked. You will also see several other options inthis parameters box, including theoption foryour robot togo Long only, short only, orperform long andshort trades.Once you implement anExpert Advisor onacurrency pair, you should see theExpert Advisor name onthetop right corner ofthechart. If you have enabled live trading, you will see asmiley face next tothename.TheTerminal window appears atthebottom ofthescreen with six tabs: Trade, Account History, Alerts, Mailbox, Experts andJournal. Traders can click each tab tobecome familiar with thetype ofinformation that appears ineach tab.TheTrade tab, forexample, is where open orders andtrades can be viewed, including thesymbol, trade entry price, stop loss levels, take profit levels, closing price andprofit orloss. TheAccount History tab, ontheother hand, lists all oftheactivity that has occurred, including closed orders.MT4 provides tools andresources that allow traders toanalyze price, place andmanage trades, andemploy automated trading techniques. Thebinary options trader may not be able touse all thefunctions provided bythetool, but can be very helpful nonetheless.