This article was written by ForexMagnates.com
Binary Options can be used to take advantage of the trend following strategy for all instruments. Timing and direction are the key points that have to determined correctly, in order to achieve success here.
Trend following is a term used to describe a type of trading where order placement is based on correctly reading the chart in front of you. In contrast to range trading where one would normally place trades opposite the recent swing and where the market tends to move between two areas of support and resistance, trend following requires placing orders in the general direction of the market.
Nadex “hosts” the binary options trading contest during November on its and offers the chance for traders with real accounts to compete against each other for the title of World Binary Option Champion.
The North America Derivative Exchange (Nadex), the only binary options trading exchange which has legal clearance to operate in the US, is co-sponsoring an aptly named World Championship of Binary Options.
The tournament is currently gathering participants and will run for one month, starting from November 2nd and ending on the 28th with a rather low entry bar of a $500 balance requirement. Participants can join in at any point of its duration. The prize worth however, has not yet been published.
Written by CountingPips.com
You wouldn’t start your own company from scratch without taking advice from others who have taken on similar ventures, so why would you do that with trading? When you make the commitment to begin trading currencies, you are entering a field that requires precise knowledge if you have any chance of success. If you try to go it alone, you will lose your funding before you ever gain a fraction of the knowledge you need.
Looking for a good mentoring program or mentor for Forex trading is a good starting point for beginners. They can teach you to build trading and analytical skills that will help you to become successful. With a good mentor you can learn how to identify a profitable trading opportunity, predict trends, time your entries and plan your exits. These are just a few of the skills you are going to need to learn if you have intentions of making money from trading currencies.
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