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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 trade and trade without any money and risk management rules. Losses are bound to occur in any trade. If you feel like you should close your position after a certain loss level, you should contact your broker. But a lot of new traders forget to do this! In a desperate attempt to regain their losses, they keep losing more money. You need to have money and risk management rules incorporated into your plan. For example, if you lose a certain amount of money, don’t trade anymore. You entered a stock too late and bought it at a higher price. Ever heard of FOMO? It means fear of missing out. That’s what newbie traders experience a lot of times because of inexperience. For example, you saw a trade but didn’t enter into it. Then when you checked it again, the price was better. So because you want in on the action, you buy, but at a higher price already. And if you do that, you have lost money already. Just wait for the next opportunity instead. The market will always be there. Read more details on https://www.forexsmarttrade.com/.
A Forex robot is a computer software, specially designed to follow a specific set of trade signals and settings in determining the best prices at which you can buy or sell a currency pair. Forex robots were meant to help eliminate emotional and psychological biases when trading and also automate the forex industry.A robot pointing to a screen with illustration of graphs and trend lines.