The trader's job involves constant calculations and data analyses. This jobs would have been too hard without the help of the additional tools. Lots of tools have been created to facilitate trading and save traders time. So let us look at the most popular and useful tools, which help to make trading analyses and calculate profit at Forex, and which have been developed due to modern information technologies and people working in this sector.
The tools, which are often used by traders, include technical indicators of the currency market. These have been created by programmers who automate technical analyses and make application of the tools easier for the traders.
Forex calculator is also one of the most useful tools for trading in the market, as it makes it easier to calculate profit, volume of transactions and the price of pips in the market. History of the trading bars is very popular among traders, as it shows previous movement in the currency pair, which helps to analyze current situation in the market.
All tools mentioned in this article are presented on the official LiteForex site.
Traditional tools of trading analyses are technical indicators
Regardless of trading experience, most traders need to automate the process of the price chart analysis and that is why they often use technical indicators for this purpose.
Technical indicators are an integral part of the technical analyses
in Forex market, which are used by nearly every trader.
Technical indicators show trending of the future movement in prices and the best entry points to the market based on calculations made with the help of statistical indicators of the price, trading volume and other values. It will be useful for traders to understand the main principles of tools. Usually, the indicators are built-in by default into the trading terminal. But if you do not find the tool you wanted, you can always download one, and install it onto your terminal.
Calculation of profit with the help of a trader’s calculator
A tool is usually available for traders on the website, as an application. LiteForex, as do many other brokers, provides its clients with high- quality calculator tools enabling a trader to accurately calculate future transactions. A trader just needs to enter required values and see the possible result. The tool will quickly calculate the size of the deposit, potential risk and profit, the price of the pip and so on. Enter link here
Trading bars history in market analysis
Any analysis incorporates the analysis of the behavior of the instrument in the past. In order to understand current situation in the market it is necessary to consider previous movements of the trading instrument. Technical indicators are based on past data, showing a trader the best time of entry or exit from the market, which you can see in the “history of quotes”.
Independent Forex analysis is an important aid in trading
Prompt and reliable analysis can significantly improve the quality of a trade. Not every trader can carry out a professional analysis of the currency market, and it is not necessary to do it, as he/she can use analysis prepared by the experts in Finance and Economics. A trader shall choose the source of analysis very carefully.
LiteForex provides free access to analysis portal Claws&Horns, which contains all kinds of analysis, forecasts, reviews and more. And these expert comments and analysis will enable a trader to make adequate trading decisions and increase profit in the currency market.
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The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.