Here you can log in to the trading platform of the Binomo broker, and also start trading on the Binomo platform.
How to trade on the Binomo platform?
Beginners who come into options trading do not know how to trade on Binomo and where to start. The main goal of all customers remains profit. Binomo.com has the following training sections on how to trade Binomo correctly:
- Book – here customers can learn the basics and principles of options trading, rules for opening an account and effective trading strategies;
- Knowledge Base – a dictionary of basic terms that will help you better understand the field of trading;
- Instruction – a step-by-step instruction on how to start work, correctly conclude transactions and use the platform;
- To reduce risks and begin to receive at least a small profit, you must use the rules of money management in trading.
Money management – these are the techniques and rules aimed at prudent money management that will help you understand how to trade on Binomo binary options without drawdowns and with profit. Experienced traders can independently compose them, based on the size of capital, opportunities and style of trading. But the basic ones that all beginners need to use at the beginning of their journey are formulated as follows:
- Do not use more than 3% of your deposit in one transaction;
- It is worth limiting daily losses. If the drawdown reached 15%, then today, it is better to stop trading and revise your trading plans and strategy;
- Do not succumb to emotions. If the trader is overwhelmed with excitement and greed, and there is a desire to conclude deals, deviating from the trading plan and money management, it is worth stopping the trade for some time;
- With effective trade and deposit growth, the size of the investment must be proportionally increased.
The correct use of money management is 50% of the success of traders. The remaining 50% of profitable trading depends on the right strategy. Beginners can not compose a strategy on their own. Therefore, on the site in the “Strategies” section there are many trading systems that you can use for free. Here are systems for both beginners and more experienced traders.
The most effective strategies for binary options are considered to trade with the trend. With their help, you can understand how to trade on Binomo profitably. No wonder the trend is considered the best friend of the trader.
First, beginners need to be able to determine the trend on the chart. You can do this yourself, using the trend line, which is on the platform. You can also use technical indicators. Experts consider the moving average to be the most effective tool for determining the formed trend.
Also a very lucrative strategy can be called trading on the news. At the time of the news release, the market is experiencing a fever or, speaking in a professional language, strong volatility is observed in the market. The strategy is simple, because to use it you only need an economic calendar. The trader selects news that are marked with three stars in the calendar. This is a high level of importance, which means the event has a strong impact on prices. In the calendar, actual quotes and predicted are noted. You can make your own forecast and start opening deals when the news is released in the right direction.
In his arsenal, a trader can use several strategies at once. You can adjust them depending on market situations.Do not forget about diversification. That is, it is important to use several trading instruments in your portfolio so that the risks from some overlap with the profits from others.