Binomo Trading is one of the popular platforms for options traders. The trading broker is suitable for both beginners and experienced traders.
Moreover, it is best suited for short-term trading such as 1-5 minute which is the biggest advantage of this broker.
The functionality of the platform makes it possible to use hundreds of different strategies for technical analysis. You can also trade on the news events from the built-in Economic Calendar.
The platform interface is simple, so you can learn how to use it in just a few minutes. Immediately after signing up for an account, the system will display a series of informational prompts to explain the nuances of terminal management.
If you want to know more about the platform and its features, can read Binomo Review.
Through this article, we will show you the path of success by using the Binomo trading platform so that you can earn money without walking in the dark road.
To complete the signup process, you just need to put the valid email address and password. It is the first stage to enter into the platform. You will also need to select the preferred currency.
Remember, it is not possible to change the currency after registering an account. Trading on a dollar account is a win-win option for traders as you can make payments in USD anywhere in the world.
Our recommendation is to verify your account immediately to avoid uncertain problems.
High Capital Risk Is Involved In Financial Trading
If you are a new trader then it is advisable to start with a small amount without throwing your money. Do not take loans for trading. Invest that you have already with you.
To make a profitable trade through Binomo platform, all you need to do is set up the terminal with effective trading strategies. The strategy will depend on the market and asset movement.
For new traders, it is advisable to trade according to the risk management rule that is widely accepted by countless traders. You can also check the binomo terminal where you will find strategies from the toolbar.
According to the traders perspective, Moving Average is a popular indicator that a trader can use to form a very successful trading strategy.
Additionally, the Alligator indicator is another popular indicator for traders. You can make a winning strategy by using this indicator.
In this phase, we will share some secret information that can help you to make easy money from Binomo.
Market analysis is meaningful for traders before drawing the conclusion line. Both technical and fundamental analysis are equally important for traders.
Technical analysis is a combination of mathematics, indicators, tools, calculations, and market history. In this analysis, traders mostly concentrate on price rather than outside influence.
The Fundamental analysis is a combination of news, economics, and politics. It will help you determine the overall trend.
You have to set the percentage of your current balance before placing a trade. Here, you have to do a small calculation. The percentage will depend on your balance per trade. The recommended percentage for beginners is 1-3%.
Depending on your trading experience, you can set the percentage. However, initially, it should not exceed 7–10% of your account.
Suppose you have a balance of $80. Size of 1 trade: 2% of your balance = $80* 2% = $1.6
For a doubtful trade, it is wise to take a 1% trading risk of your balance = $80 * 1% = $0.8
A trader must have to select the proper time frame from the platform. The trading platform supports 6-time frames such as 1, 5, 15, and 30 seconds, as well as 1 and 5 minutes.
There are also time intervals which we are listed below
The different intervals will allow you to trade on both the short-term and long-term trends. Remember, the time frames will also influence your contract expiration period.
A clear concept of the market order is necessary. The volatility can affect your trades because of the unsteady prices. Do not trade with low volatility as technical analysis signals become inaccurate that time.
You can improve your trading result by keeping a trading journal. You can create several columns to put each information separately.
Trading emotion is the main obstacle to success in trading and fear is one of them. Eliminate uncertainty and always ready to close a deal with loss. Moreover, you have to reduce your level of anxiety. It is important not to rely on emotion but in logic.
The right trading mentality and cultivation of good trading habits will help you to make million-dollar from trading.
Along with the right trading strategy, you have to prepare a plan by setting a fixed goal. Here is the list with effective points.
Beginners are offered free training in the form of video lessons with ready-made strategies. Similarly, professional traders are offered favourable trading conditions, market analysis functionality, as well as the opportunity to participate in tournaments with real prizes.
The platform is user-friendly. They offer a unique opportunity to prove your trading skills with different tournaments.
It is the high time to start today to get result in future.
This post was last modified on January 18, 2024 1:04 pm