Planning to start Binomo investment and looking for tips and tricks? First learn about the existing trading strategies based on which you will be able to elaborate your own unique one:
- Technical analysis based trend trading strategy.
- News trading strategy.
- Day or intraday trading strategy for full time traders.
- End-of-day trading strategy that takes less time.
- Swing trading strategy to take advantage of both market growth and decline.
- Scalping trading strategy to “scalp” and accumulate small profits.
- Position trading strategy for those who plan long-term deals.
How to win in Binomo?
No matter what strategies you will choose to create your best winning strategy to operate on the platform you should also remember the following tips and tricks:
- Create your own strategy and strictly follow the plan. No matter how the market behaves, all that you should do is stick to your plan. Don’t let the desire to get super profits or the fear of losing everything affect chosen Binomo strategies.
- Capital management is extremely important in trading just as in your real life. Before you start operating for real money we advise you to practice on a demo-account. The tutorial videos can also be very helpful to watch before you starting trading.
- Keep your account balance as high as possible to minimize the percentage of loss. For example, having $100 in your trading account if you fail a $20 deal, your loss percentage is 20%, which is high. At the same time, with the account balance of 500$ having a transaction loss of $20, you only lose 4% of your money.
- Limit your losses. Choose a comfortable loss level of 15 or 20% and try never to exceed it. Sometimes you might feel the excitement of a gambler, but trading is not a casino or a lottery, it is all about control and strategy. You must not allow losses beyond the established level.
- Do market analysis. All professional traders remember not to trust one source of information and always do their own financial market analysis. This will help maximize your profit and make correct trading decisions in future.
- Choose a reliable broker and trading platform. This is probably the most important tip to follow, and Binomo is one of the world’s most popular and user-friendly trading platforms, suitable for both new and experienced traders.
Rules of responsible trading from a top broker
As a reliable broker we would advise you to start trading on Binomo with establishing a plan that should consist of:
- The amount of money for a deposit
- The amount of money for a single trade
- Charts and indicators to use
- Suitable markets and moments to make transactions
- The moment to stop trading
- The moment and the amount of withdrawal.
How to use Binomo?
Having read all the Binomo trading tricks you will probably want to start trading. So how to use Binomo?
Open the Binomo website or app, read the conditions, create your account, decide on the currency pair, create your own Binomo trading strategy and follow the tips above. And may your trading on Binomo be a totally positive experience.