How to Perform Technical Analysis for Binary Trading Applications to Increase Profitability?
Binary trading apps, as we know are based on the mobile platform that makes trading more convenient and accessible. It’s usually considered to be a platform for beginners who are looking for a simple interface that’s easy to understand. Apart from binary trading, people are now exploring other trading areas such as Forex, cryptocurrencies, commodities, stocks, indices, and ETFs, using mobile applications. Some of the popular applications in use today but are not limited to, ExpertOption, IQ Option, Binomo, Pocket Option, Binarycent, Nadex, etc.
Challenges While Building Trading Strategies Using Technical Analysis
Traditionally, various technical analysis tools are in existence to help traders build the trading strategy using various indicators which can predict the future pattern of price fluctuation (positive or negative price/trend in the future) with a really good accuracy rate (subjected to an individual’s analysis and observation) and, hence increasing profitability. While these tools are already in use by millions of traders in the traditional trading section, most of the binary trading applications also provide these features of technical analysis of the price/graph pattern. Ranging from simple Japanese candle stick graph patterns (like Doji, rising star, hammer, inverse hammer, etc.) to a little more sophisticated derived graphs like Moving Average Convergence Divergence (MACD) to predict short- or long-term price, and then to graphs like Stochastics to predict volatility, a.k.a sudden price movement, in any direction up/down.
Although some of the tools/graphs mentioned above, and many more, are great assets for any serious trader to predict price movement (Up/Down) and hence develop short to medium time scale strategies, the display screen of mobile devices are not good enough to use these tools efficiently to trader’s advantage. Also, since all almost binary trades are intraday, technical analysis for price prediction is even more imperative to get more profit out of these platforms.
Solution
Since almost all binary trading apps are mobile based, they cannot be installed on a PC or laptop. Application on a PC or laptop gives the advantage of evaluating the technical graphs with better visibility for a more accurate trading strategy.
To make these mobile base trading applications work on a laptop or PC you would need to install and configure Android emulator applications. There is a variety of such applications available today. Windows based emulator can be used as a platform or environment to run and execute the Android application on the local/remote systems. Unlike touch screens, when using smartphones, at times it is much easier to use a keyboard and mouse on a desktop or laptop, to study the technical graphs and change scales of graphs based on trade pattern prediction for specific time windows (for example, 30 minutes, 1 hour, 5 hours or a day). Android emulation on the desktop is possible and it is a lot easier than it used to be during its early days.
How it Works
Emulators use the virtualization capabilities of the CPU/processor, which is enabled in most modern-day CPUs. On Windows based PCs, it uses the virtualization feature called Hyper-V, a feature that can be easily enabled from the list of features available on Windows PCs. After installing/enabling the Hyper-V feature, you can install an emulator, like BlueStacks. Once you open the application, you need to configure your Google account within the app, just like you do it on your smartphone when using/configuring it on first use. Since the instance in the emulator is linked to a Google account, it is secure to use.
Apps4rent Can Help with the Configuration of the Emulator
Configuration of emulators at times is difficult when it comes to errors for virtualization as it requires multiple iterations of enabling/disabling various features, changing BIOS settings of the PC or laptop, and troubleshooting. People usually do not prefer changes in BIOS settings for just one application to run. Moreover, this will also utilize additional resources on a local PC or laptop. Apps4Rent offer virtual/remote desktops on the cloud with an emulator like BlueStacks. Since the virtual/remote desktop is on the cloud, it can be accessed from any local PC/laptop, Windows, or Mac, which has internet connectivity. No configuration change is required on your local PC/laptop. You will get the application preinstalled and all you need to do is to connect to it, add your Google account to BlueStacks and you are good to go. Call, chat or email our virtual/remote desktop specialists, available 24/7 for assistance.
