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The main mistake that is made not only by beginners, but also by experienced traders in binary options trading is the mindless pursuit of profit. At the same time, traders do not pay attention to the trend.
Such actions often lead to losses.
How is the deposit drained and how to prevent it?
Many trading terminals offer traders to use the "Majority Opinion" function.
With its help, you can observe the behavior of traders in the market. It is very common to see that, despite a change in trend, there is persistent trading in the opposite direction.
Of course, this can be called a certain tactic. Traders expect that by entering the market at very low prices, they will make a profit when the price starts to move in the other direction.
This makes some sense, but such tactics are extremely inefficient and work in very rare cases.
The reason lies in the fact that the trend continues to move down.
There are two simple rules to remember:
- 1. Quotes of assets will not return to the top if they have broken through the nearby level down. Theoretically it is possible, but practically the probability is almost zero.
- 2. Quotes will not go back down if the support level is broken up.
Thus, the most reliable tactic is to trade in the direction of the breakout. In order to avoid trouble and keep your deposit, do not forget the exchange saying: "The trend is our friend."
Choosing the right terminal is essential in binary options trading. It should provide the trader with maximum opportunities.
Read also - Forex trading signals from a professional online!
Let's get back to the "The Trend is Our Friend" strategy: how should it be applied?
1. Wait for the breakdown of the previous price level;
2. Wait for the price bounce;
3. Enter the market and start trading in the direction of the breakout.
By following a few simple rules, you can avoid losing your deposit and trade binary options profitably.
Trading pairs: all major;
Working timeframe: M1;
Expiration: 1-2 minutes;
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