Before you start Binary Options trading - whether on a live or on a demo account - you have to study and analyze the market price of the asset which you
want to trade. Because when you do not analyze charts, you are just gambling and that has nothing to do with trading. So when you want to become a real trader, you have
to study charts! Of course your Binary Options Broker might already offer you charts but you should always have another platform which has a more complete list of tools, so that you can
compare the market price which you are getting from your Binary Options Broker. Of course there will always be a little difference of about one or two pips that is
So generally you need a software or a web application which offers charts. Examples are:
NetDania, Freestockcharts, Thinkorswim and MetaTrader.
In this video we will have a look at MetaTrader 4 because it is the most commonly used program for charting and also our favorite. Please be sure that you download it on their official website when you do not want to get viruses.
Have a look at the MetaTrader 4 subpages, there you can find videos about how to install custom indicators, how to add trendlines etc.