Several online trading platforms have appeared online, but just a few have stood out from the crowd. Among them, Binomo has swiftly grown into a popular and convenient online exchange platform with a global reach of 130 countries.
Binomo is an online trading platform that offers access to a wide range of financial assets and analytical trading services (including practical tools). Users may learn about and trade over seven different assets, including currencies, indices, commodities, etc.
The platform has been verified by the International Financial Commission (IFC), an unbiased, external dispute resolution institution that protects the rights of Binomo customers.
Furthermore, the platform provides a safe atmosphere for new and experienced traders to assist them in reaching their unique trading goals.
This post will examine different tactics traders may use when trading on Binomo.
Boost your trading capital with a 100% welcome bonus.
A welcome bonus is a promotional offer that pays additional monies to traders who establish and fund a new Binomo Login account. This incentive can offer traders additional funds to carry out their trading methods, allowing them to open more positions and increase their winnings.
Use the correct trading indicators.
Indicators are tools used to examine the mechanics of asset price movement, decode indicator trading systems, and generate trading signals to help investors make profitable selections. Here are some of the most popular indicators accessible on the Binomo trading platform:
Moving Average Indicator (MA)
MA calculates the average asset price over a period specified by the user.
The trader may determine asset price direction using the MA indicator on the quote chart (candlestick chart). This helps the trader predict the trade’s direction at the moment. Note that this applies to future transactions.
Indicator Settings: Chart candles depend on the indicator period. More candles provide movement trend information. There are various Moving Average indicator kinds.
#2. The Bollinger Bands
Bollinger Bands estimates the average price and deviation from the typical average for a period.
Traders can also control quote intensity. The market is narrow and less mobile if the three lines are near, limiting trade chances.
Additionally, it indicates accurate quotation movement direction changes.
The trader may modify the moving average calculation, the number of candles needed to determine the average price, and the quotation deviation from average parameters.
No indication works for everyone always. Following the indicator processes will help your trading plan succeed.
#3 MACD
The trend-following momentum indicator Moving Average Convergence/Divergence (MACD) indicates the connection between two asset price moving averages. Gerald Appel invented the MACD in the late 1970s. Subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA yields the MACD line.
The MACD is a compass for traders. It helps you predict if an asset’s price is rising or falling. A green light indicates a favorable moment to purchase when the MACD line crosses above the signal line. Crossing below the signal line is like a red light signaling a sale. Like a compass, it’s only sometimes precise and should be used as a guide.
Manage Your Money Wisely
Online traders use money management to minimize risk and maximize profits. It requires calculated trading investment and risk tolerance. You must realize that no trading strategy always wins, so you must have a solid plan for opening new positions, know what percentage of your capital you use, and know what you do if you win or lose.
If you lack experience, trades under 2% of your balance are safer. Open deals should make up at least 15% of the balance. If you’re not a newbie, calculate your approximate trade-to-capital % after determining your trading aims and preferences.
Limit your losses
Set a daily limit of 10 unsuccessful trades. Or 15% of the investment amount. Never exceed that limit, even if you believe you’ll win!
When is the best time to trade at Binomo?
Besides abilities, time is crucial to success in forex trading. First, follow the opening hours of New York, London, Tokyo, and Sydney, the four key trade marketplaces. Markets open at different times based on time zones.
Preferred currency pairings and geographical time zones make trading hours harder to choose. Knowing when the market starts helps traders organize their schedules throughout days and weeks.
If you like trading in stormy markets, find a currency market with your ideal trading windows. Choosing range markets to start short positions makes anticipating the optimum time frames easier.
Can Binomo Make You Rich?
Binary trading makes money efficiently and methodically. Binomo may be an alternative money source if users follow regulations and employ techniques.
Binomo offers demo accounts for trading beginners. Although it doesn’t give money, the trial account prepares aspiring traders for this rich business. A good trading technique and a sharp eye will help you make money trading forex.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
Media Contact
Company Name: Binomo
Contact Person: Media Relations
Email: Send Email
Country: Saint Vincent and the Grenadines
Website: https://binomo.ai/