The trading performance can be improved in many ways. One way to do that is to utilise multicharts. Thanks to them you will be able to trade various assets simultaneously by opening a few separate windows. This will save you some time because you will not have to shift between tabs. Moreover, you will be able to see more information about the financial instruments you are currently trading. This article will tell you what you need to know about multicharts feature.
How to use multicharts on the IQ Option platform
Log in to your IQ Option account and find the chart grids icon. You will see then multiple options for setting the chart grid. Your choice will depend on the quantity of the assets you wish to trade.
Trading many different instruments
If you plan to trade different assets at the same time, using multicharts option will be very convenient. You will get the view of many charts simultaneously. You will be able to constantly follow the price movements for all of them. This improves your chances to catch the best moments to open trading positions.
Below you can see 4 charts for 4 different assets on one screen.
The maximum number of charts you can watch simultaneously is 9.
Finding correlations between the markets
Another way you can utilise multicharts is by finding correlations between the markets. Many markets influence each other in a direct or indirect form. Below you will find an example for the AUDUSD and NZDUSD currency pairs. You can notice that in general, they go up and down at a very similar time.
If you take, for instance, the EURUSD currency pair and gold you will see they are in correlation too. But in their case, the relation is quite different. Whenever the first asset is rising, the other one is falling and vice versa.
You can also use the chart grids to compare the behaviour of the same asset on different timeframes. You may be fond of the short-term or long-term type of trading only. Still, it might be a good idea to check another timeframe in order to get a bigger picture. Examine two different timeframes for the NZDUSD currency pair on the screenshot below.
Multichart feature widens your trading possibilities and it can significantly improve your results. Remember you can open up to 9 charts at the same time.
Use chart grids in a way that responses to your needs. You can trade many different assets simultaneously, compare the behaviour of the price for one asset on different timeframes or analyse the instruments that are in correlation with each other.
IQ Option offers you a free demo account. Try this new feature there. You will trade with virtual cash so you will not lose your own money. After some time spent on learning and practising move to the live account. Do not forget to share your thoughts about multicharts in the comments section which you will find down below the site.
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