Trading can be a stressful activity, with many things going on at the same time. So what are the Best Trading Apps that can make your life easier, so that you can focus on market analysis peacefully?
Let's have a look!
No need to introduce TradingView anymore. With more than 30 million traders using their website, it has been leading the industry when it comes to displaying your charts in a beautiful and user-friendly way.
TradingView App is a great help to set prices alarms, keep track of the news, check your charts on the go and much more. This is the #1 App to have on your phone!
You can use TradingView as a free user, however we highly recommend the PRO Subscription that gives you much more flexibility.
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Download TradingView on Android
News events are a huge part of trading. Whether you are trading forex or stocks, news will impact the volatility of any markets. Keeping track of what's happening the around the world such as the USA, Canada, the UK, Japan, Australia, etc is essential.
Investing.com allows you to:
- Set news alerts
- Learn more about the different news events
- See the impact of the news on the market
- And much more
Any successful trader will tell you that the most important thing in trading is to control your risk. Many traders enter trades without any idea of the size they should trade. To help you calculate your trading size, STINU is the most user-friendly app that you can find!
On the topic of risk control, here is a small tip:
In case you are wondering how much of your trading account you should be risking for each trade, the industry recommends to risk at most 2% of your account. So if you have $10,000 in your trading account, you shouldn't risk more than $200 per trade.
STINU will allow you to calculate the correct size to trade based on your risk and live market rates. A must-have app to keep your account safe!
Whether you are trading on the 15 min time frame or the 4 hour, it's always important to have an idea of the main flow of the market. The FX Meter App shows you the strength of the 8 major currencies on the Daily and on the 4-hour timeframe. With that, you know how weak or strong the currency you want to trade is, at any time.
How to use this App? Before trading, if for example you are thinking of buying EUR/USD, make sure that EUR is not the weakest currency, as it may have a hard time to going up if it were to be the weakest.
Alternatively you can also use to it filter out the pairs that you don't want to be trading (e.g. weak vs weak or strong vs strong). This will save you a lot of time during your pre-trade market analysis.
All of these apps are amazing tools that will help streamline your day-to-day trading.
Of course, having a process that allows you to correctly analyse the market and execution your trading plan is what will make you a successful trader.
If you are still looking around for a program that will help understand the market and reach your trading goal, we recommend you to have a look at Navin Prithyani's program: The Mastering Price Action 2.0.
It's an 8-week video course that will show you how to read the market without the help of any indicators. You will understand the basic principles of the market and you will be able to take advantage of the easy to apply strategy that Navin shares in this program.
With Pip Love,
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