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PassYourChallenge on trading practices (especially FOREX) : 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.

Practice makes perfect: Like any new learned skill, there is somewhat of a learning curve. But also, with any new learned skill – practice makes perfect! They key to becoming a great trader is consistency and practice. Luckily, Forex Smart Trade offers you a demo account where you can practice making your own trades without the risk. This is a great way for you to get into the swing of the whole trading process, without the stress of your money on the line. New traders enjoy this feature because it helps them conceptualize the process of trading, as well as put it into action in a low-risk setting. Practicing the trading process before funding your own investments is very important, especially if you want to minimize potential losses. Practicing is also a great way to also familiarize yourself with specific terminology, softwares, charts, currency rates, and more. Another great way to familiarize yourself with Forex and the entire process, is to seek out blogs and videos of Forex professionals to learn about strategic tips. Luckily for you, Forex Smart Trade offers blogs, videos, and testimonials for you to look through and learn from right here on our site!

PassYourChallenge onintraday FOREX trading : The second rule is to take into account the volatility of the instrument in a particular session. With the H4 timeframe, an open trade is likely to overlap with the second session, where the trading volumes can be completely different. During the Asian session one should pay attention to JPY, during the European session – to European currencies.

PassYourChallenge regarding FOREX robots : When the algorithm spots a potential trading opportunity, you will be notified instantly. With that said, FX Master Bot allows you to act on these findings autonomously. That is to say, you can elect to automatically place the required entry and exit orders every time a new signal comes to fruition. On top of 17 major currency pairs, the bot also covers 5 cryptocurrencies. Once you meet the minimum deposit amount of $250, the bot is activated. This means that you can then set your own stakes, subsequently ensuring that the bot trades with amounts you are comfortable with.