Trading Using the MOMO Strategy and How to Use It on the Binomo Trading Platform
In the trading world, there are several traders types and various strategies they can use. We are all different and we have to determine what works well for us. Today, we present a strategy that is good for short-term traders who expect fast results. It is known as a MOMO strategy.
Setting up the chart
Before you apply a certain kind of strategy, you must prepare your chart. Log into your Binomo trading account and choose the asset you will trade in the session. For the MOMO strategy, I suggest major currency pairs.
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Trading Journal a Must Have Tool For Binomo Traders
Every trader should monitor his own progress and constantly develop himself. It will not only keep him up-to-date but also allow him not to make the same mistakes over and over again. There is a special tool that will simplify this process. It is called a trading journal. A must-have tool for every Binomo trader. Let’s see why it is so important to write it.
What does a trading journal include?
A trading journal is a place where you write some details about every transaction you make. It can be in paper or electronic form. Whichever is more suitable for you. What is important is to note all your actions in the Binomo trading platform so you have a possibility to review them in the future.
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Guide Trading to Understanding Overbought and Oversold Markets on Binomo
Overbought and oversold markets definition
The market is never static. It may be ranging or trending, but it is always on move. The price sometimes rises very high and falls very low on other occasions. And when it reaches extreme values, we say that the market is either overbought or oversold.
The instrument is considered to be overbought when the price continues upward movement for a long time and is placed extremely high on the price chart. In this case, we expect the reversal of its direction.
We can talk about the asset being oversold when the price falls for a long time without many pullbacks and reaches extremely low values. Also, a reversal of the trend is anticipated.
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Time Management When Trading, Why You Shouldn't Make 1 Minute Trades on Binomo
What is the best strategy for 1 minute trading?
One of the most popular 1 minute scalping strategies is known as trend-following. Its name tells it all. It is a trading strategy that identifies an already-established trend and then follows it until it changes its direction.
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Forex Financial Product
What is Forex (FX)?
Forex (FX) refers to the global electronic marketplace for trading international currencies and currency derivatives. It has no central physical location, yet the forex market is the largest, most liquid market in the world by trading volume, with trillions of dollars changing hands every day. Most of the trading is done through banks, brokers, and financial institutions.
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How to Use Candlestick Pattern when Trading on Binomo Platform
How to use bullish candlestick chart patterns
Bullish candlestick patterns have a relatively reliable average success rate of 56%, provided they are analyzed right, yet remember that they do not guarantee a win. However, they are often difficult to read by traders, as they all hold similarities to one another.
At the same time, for a day trader, candlestick chart patterns are the key to ensuring you make the right trends. These groups of “candles” will predict how prices are moving, giving you a signal as to whether you should buy after a downtrend or not
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Surprise eggs contain So cute ducklings, koi fish, crabs, catfish, Freshwater shark, goldfish, eel
Surprise eggs contain So cute ducklings, koi fish, crabs, catfish, Freshwater shark, goldfish, eel
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Monkey Baby Bon Bon doing shopping in Kinder Joy eggs store and eat Chocolate with the puppy
Monkey Baby Bon Bon doing shopping in Kinder Joy eggs store and eat Chocolate with the puppy
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Monkey Baby Bon Bon harvest fruit in the garden and eat with puppy and duckling at the pool
Monkey Baby Bon Bon harvest fruit in the garden and eat with puppy and duckling at the pool
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