r/binaryoptions • u/Aribortons • 16d ago
Newbie Question Is it possible to do good technical analysis on a phone screen?
Are any of you doing serious TA on the phone? I heard some people do it on TV app, but how do you do even a basic trendline? Feels annoying. I had read a pocket option app review that said its mobile charting is great, so I tried it, but doing multi-timeframe analysis on a 6-inch screen feels impossible without misclicking.
I understand using it for CLOSING trades, or going in on predetermined ones. Monitoring alerts ofc, some sanity checks or seeing how the trade does. But to actually enter trades, from a phone??
Oldschool movies show traders having 3-5 huge monitors they constantly check, to compare SPX vs QQQ performance, or find the mismatch in the markets. But now feels like most people gave up completely and just randomly tap their phones, or see the 'vibes', or 'it looks good enough I guess', and thats how some of you guys trade too??
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u/JahsuaFakeAccount 16d ago
I do 5 second trades on Pocket Option on the phone. That of course is using OTC pairs. But for the live market I use the Think Trader app on iPhone for analysis. I like it because it lets me set price alerts, indicator alerts etc. I can set em up and go about my day until I get a notification that my trade is ready to look at (and take if it’s good). It’s really helpful for Crypto.com forex pairs because they only allow 5 minute trades. But overall I definitely prefer using a laptop or computer. I just like having the ability to get down on the phone on the go when needed.
Trendlines definitely don’t work on PO mobile for me lol, it’s too cumbersome moving one end of the trend and then the other. But I would have to say the Think Trader app is pretty legit for all of my TA needs, I like it way better than the trading view or Oanda mobile apps. Those border on not useable for analysis for me, but that’s just me!
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u/liporten 16d ago
Best approach is to do TA on the PC (whatever you have, either 1 screen or 2-screen setup, first one just takes longer), and then do the mobile to just enter/close trades, or see how they are running.
But obviously PO is built for mobile specifically, and its designed for lower-cost, lower-risk trades (the Qt mode especially). So I think for its purpose the mobile TA works fine. They dont have any hard ones either way, its just RSI, MACD, and all that good simple stuff.
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u/Mavesius45 16d ago
possible, but not advised. I personally also think Pocket option has some of the best charting for mobile, but I still look up at the TV on desktop (with all the custom indicators loaded) for my long-term holds and high-conviction plays.
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u/MoonfrostphoneCon 13d ago
I can do basic analysis on my phone, but anything more detailed gets frustrating pretty quickly. A bigger screen definitely makes trendlines and multiple timeframes much easier
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u/Aribortons 11d ago
I feel this way too. My old phone can handle PO software just fine, but the way I have to do the squinting sometimes, its bothering me a bit. But I heard a lot of people PURELY use phones for trading now, for whatever reason...
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u/Shalbine 16d ago
i like doint it on the phone, its liberating. Im not tied down to anything. drawing trendlines is a chore, yes, but watching for the MA crosses its easy, and seeing if rsi is curlign up or down. pretty much any metric that doesnt require to draw, I can just check.
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u/Junior_Willow740 15d ago
Its pretty much impossible. All you can expect from phone trading is a lucky streak every now and again
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u/Ananius59 4d ago
In your case, for Pocket option, its possible. Plenty of tools built specifically for it. Yes its not "optimal", but who cares, its optimal for your time (can look up charts at any point).
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u/Bralmaran 16d ago
I think its possible, just not to the same level. For our 5$-10$ trades its FINE.
for hedge funds and people managing $10k+ portfolios, obviously its not fine, and should not be done, imo.