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PassYourChallenge on trading practices (especially FOREX) : As long as the price moves in the cloud (or near it) – the market is in a lateral position (flat), and its boundaries will be dynamic resistance/support levels. If price moves above the upper border of Kumo, the trend goes up, if it goes beyond a lower border, it is bearish. Tenkan-sen line is considered the same trend indicator. Kijun-sen line shows the probability of a trend change. The intersection of this line of the price chart means a near reversal. First signal. The Chinkou Span line breaks price chart: from the bottom – top, opens the CALL option, from top-bottom – open PUT option. Second signal. The Tenkan line leads Kijun-Sen from bottom to top (Golden Cross) – open CALL-option, if from top-bottom (Dead Cross) – open Put-option. Third signal. We reason the same way: crossing the Senkou-A line with Senkou-B line from bottom-up is CALL-option, from top-down the PUT-option.
Don’t rush, go at a steady pace: One of the best practices for navigating Forex, especially in the beginning, is to not rush the process. Take your time to really research and learn the process before you nosedive right into it. As you ease into the process, be sure to take advantage of the demo account and really take the time to understand how the trading aspect works. Even once you become more accustomed to the Forex process, be sure not to rush right into trading currencies and taking large risks. It’s perfectly acceptable to take Forex slowly and steadily so you won’t be confused by different aspects of the process as you become more familiar.
PassYourChallenge regardingintraday FOREX trading : There are several unspoken rules for day trading. The first one concerns opening and closing trades around the weekend. Day traders skip the first two hours of the European trading session on Monday. After the weekend, the Forex market may open with a price gap: traders are just starting their analysis and outlining their weekly plans. The first hours of Monday are the least predictable time, but after that the financial market enters its usual operation. The same concerns Friday. Before the weekend, in the last hours, trades are being closed massively in order to avoid swaps and fundamental risks.
PassYourChallenge on FOREX robots : Centobot is an automated trading system and a collective term given to a wide range of automated crypto trading robots. Essentially Centobot comprises of over ten. automated trading robots that you can choose from based on such factors as your desired returns on investments as well as their native indicators used in analyzing the cryptocurrency markets. Here, trading robots can report returns as high as 300% of the invested amounts. You also have the option of settling with a specialist crypto trading robot that will only trade a specific altcoin or a general trader that can handle multiple cryptocoin pairs simultaneously. It is important that this cryptocurrency trading robot is only compatible with binary options brokers.