USING OLDER TIME FRAMES FOR BINARY OPTIONS TRADING WITH BINOMO NOW

Every successful Binary Options trader knows the importance of performing thorough technical analysis in order to predict future price movements. It is one of the most used tools in the Binary Options trading community, allowing a trader to generate valid predictions which lead to profits in a very short period. Technical analysis generally involves candlestick charts to display price movements and is used by both short-term and long-term traders.

The Importance of Using Older Time Frames:

In Binary Options trading, there is a direct connection between the expiration time the trader chooses, and the time frame selected on the chart. For example, a trader has to use vastly different expiration times if they trade using charts with two different expiration times. However, a lot of novice traders do not know the importance of looking at the past time frames for better profitability. There are some notable benefits a trader can get if they look at older time frames.

• A trader using older time frames can almost ignore the “price noise” - something which is almost unavoidable when using current time frames.
• Using older time frames can make trading more understandable, especially traders who are just starting out in this highly competitive trading market.
• Older time frames also allow traders to partially reduce the degree of risk management while conducting a trade.

Using Binomo

Charts, indicators and other tools are important for binary options and thus, many reputed brokers worldwide have introduced mobile and web versions of their platforms, equipped with all the required tools, and indicators. Binomo is one such online brokerage site, dealing exclusively in binary options since 2014.

Binomo’s charts allow users to toggle between different chart types, including candlesticks, mountain charts, line or bar charts etc. Timeframe options used to include different timeframe charts ranging from 1 second to 5 minutes. However, the Binomo team has recently introduced two new features to the web and the mobile version of the apps.

Older time frames can now be added to the charts in the web version of the Binomo App. Candles charts can now be formed from 15 minutes to a maximum of 30 days, helping traders better understand universal trends and the movement of prices. This contributes towards a better degree of technical analysis, which ultimately results in more successful trades.