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A market without an obvious direction (lateral movement or flat) is considered unsuitable for binary options trading, with the exception of situations of fairly wide flat, at least 3-4 candles in one direction, when you can open short-term deals on a rebound from the channel borders. For short-term options, the most effective strategy will be to open trades after the breakdown of the trend line and the subsequent reversal in the main direction. More or less like this: When the first signs of a reversal appear, we open a PUT on a downtrend or a CALL on a rising trend. The duration of the transaction depends on the scale of the chart. The most reliable options are worked out, whose expiration period is at least 2-3 times longer than the period selected for trend analysis. The larger the time frame on which you see a strong trend, the longer the trade should be.
You don’t use a practice account. Whichever trading platform you get, it comes with a practice account. This account will allow you to place trades that aren’t real, without using actual money. That will give you the confidence you need to eventually use real money and your real account. You will also get used to your trading platform’s interface. You do trading without any plan. Amateur traders can be like headless chickens when it comes to trading. They will go from trade to trade without a plan. They just go for whatever is popular, or whatever they “feel” will return their investment. More experienced traders already have a trading plan. They have a routine that they spent time and energy developing. The trading plan allows them to make money consistently and spot better trading opportunities. Discover additional details at https://www.forexsmarttrade.com/.
Centobot is an automated trading system and a collective term given to a wide range of automated crypto trading robots. Essentially Centobot comprises of over ten. automated trading robots that you can choose from based on such factors as your desired returns on investments as well as their native indicators used in analyzing the cryptocurrency markets. Here, trading robots can report returns as high as 300% of the invested amounts. You also have the option of settling with a specialist crypto trading robot that will only trade a specific altcoin or a general trader that can handle multiple cryptocoin pairs simultaneously. It is important that this cryptocurrency trading robot is only compatible with binary options brokers.