what is the importance of the binomo online chart in trading?

Stepping into a new field is always challenging for newcomers. Their lack of knowledge in the relevant field becomes either their strength or weakness. Everything happens for a reason. Similarly, every trade has a story behind it. To figure out the story behind trading, we must be ready to understand and learn with dedication.

The online trading system has brought a drastic change in the world. Likewise, many trading platforms have emerged in the marketplace, such as Forex, IQ Option, Binomo, etc. Binomo is a short-term trading forum. Binomo Online Chart helps the traders to understand the price movement of assets. Binomo gives them support to decide their moves wisely.

Reading charts doesn’t sound exciting to you?

It is incredible if done with concentration.

But, first, go through the basic concept of this forum.

What is Binomo?

Back in 2015, a company named Binomo took its first appearance in the marketplace. Binomo is a steering platform that offers short-term trading with huge payouts and prompt trading services.

How Does Binomo Trading Work?

Binomo has four trading accounts such as Demo account – a free trial with the daily tournament, Standard – basic trading with a $10 minimum deposit tournament, Gold – strategy, guides, and minimum $500 deposit, and VIP account – all components along with maintenance of $1000 deposit.

Trading on this platform is available 24/7. This feature gains it a leading position in the marketplace. The Mobile app has made trading more feasible on the Binomo platform. The push notification feature is quite helpful for quick trend analysis.

How to Invest in Binomo Trading?

They provide full assistance to their traders in every step. On this platform, you can start with a minimum deposit of $10 and trade a minimum amount of $1. There is a 70% bonus on the money deposit. But you can even earn a 100% bonus through deals and promotions.

The trader can deposit through a Credit card, MasterCard, Skrill, or Pocket Money.

That’s something, WOW!

Binomo Online Charts for Trading:

Chart reading requires a lot of practice to be an expert in it. And if you are thinking to have benefited from this trading system, you must concentrate on the charts. As you know, charts provide real-time facts and figures.

Let us learn how many charts are available in Binomo!

●       LINE CHART:

The line chart is a simple graph where a continuous line draws from left to right, moving up and down. This graph gives a clear picture of daily trading analysis over a specific period. It holds the basic knowledge of price modifications.

  •       Merits: Line charts have the advantage of being simple to comprehend the facts and figures. Moreover, it allows absorbing a lot of information in a single look.
  •       Demerits: The line chart has a drawback as well that it doesn’t provide an intensive analysis of the price movement in the financial markets.

●       MOUNTAIN CHART:

It is clear from the name that this chart will represent the information in the form of the mountain. The point is how to predict the price fluctuations from that. So, here is the technique.

The mountain chart is similar to the line chart, but the shape below the line has color. All the information is in colored areas, which acquire data over long periods. This graph is also known as Area Chart.

Reading all previous data through this graph is easier when you have a basic knowledge of the peak and dips of the mountain.

  •       Merits: The graph is easy to analyze the past trend of the trading data in the financial markets.
  •       Demerits: There is n. Ito future prediction for the investment analysis. The graph information is in currency, not in percentages.

●       CANDLESTICK CHART:

Candlestick chart is the immense graph that provides the information which all other charts lack. The graph prediction depends upon the body and the wick. There are colored candles that show the price movement of the assets over a specific period. The trader has the option to change the time interval as per his own desired time frame.

Candlestick charts display the trend in open price, high price, low price, and high price. This model gives a clear insight into investment. Hence, it is the most popular graph for future prediction among all other types.

  •       Merits: Candlestick Charts are helpful to know the price fluctuations of assets for every short time frame.
  •       Demerits: Yet, every single piece of information seems to be dazzling for the new ones.

●       BAR CHART:

Bar Chart is the most basic chart from which we all are familiar. It represents the rectangular bars comparing the change in prices over time. The stance of bars is vertical with extending lines that illustrate the modification in the open and close prices.

Bar Chart is kind of similar to Candlestick Chart in terms of the graph structure. But the difference is in the focus points. Candlestick Chart depicts the trend through line colors on the same day while bar chart depicts the through open and close prices for a preceding time.

  •       Merits: Bar Chart came up with the ability to display the most complex information in a way that is easy to comprehend.
  •       Demerits: Bar Chart has concentrated more on previous time frames that left it a little behind in the race.

Final Verdict:

Overall, the trading system is quite interesting if anyone shows the true essence of learning and earning from it. In this regard, Binomo has its website and mobile app (both for android and iPhone) users to make trading easier. Binomo Charts are true blessings that portray the visualization of all fluctuations happening in the marketplace.

Among all the types of charts, Candlestick wins the heart of the traders. How? The answer is quite simple. This chart covers the multiple time interval along with histories of all high, low, close, and open prices.

Then, what are you thinking?

Just jump on the bandwagon and register for a free demo account on Binomo and start your voyage.

Happy Trading!