This article will show you how to open a trade in Binomo for beginners after registering an account.
Step 1: Choose Suitable Trading Assets With The Corresponding Profit
There are a lot of pairs of assets. Income ratio is the percentage of the total amount of money that you use to invest in a trade. For example, with the EUR/USD pair and its income rate 80%. If I succeed in the trade with 1$ investment, I will receive 0.8$ as my income. The experience of professional traders shows that you should trade with pairs of assets that have a payout ratio from 70% to 85%. Because the higher the profit, the higher the risk.
In order to choose the right pairs of assets, follow this guide:
Click to the “+” symbol in the upper left corner of the screen. A table that lists all the assets and their income appear. Please note that the income rate depends on the trading time (short – under 5 minutes or long – over 15 minutes).
For example, let’s look at the pair of AUD/USD in the below picture. Its income is 77% in short trading time (1-5 minutes) and 80% in long trading time (15-60 minutes)
Step 2: Set Up Japanese Candlestick Chart With A Reasonable Time Period
When you choose a suitable pair of assets, you need to choose a suitable price chart. Experienced traders often choose Japanese candlestick chart.
This chart is an effective chart to estimate prices in the market. y, It is better start practicing with it from if you want to get profit from trading. To set up Japanese candlestick chart, follow this guide:
- Click to the symbol of the price chart on the Binomo screen.
- Choose Japanese candlestick chart.
Choose the candles time period. If you are a beginner you should begin with 5-minute candlesticks because it will not affect your emotions remarkably. Our emotions affect your account badly in trading. To set up trading time, you should follow this guide. At Binomo screen, choose the symbol of time and then choose the time
Step 3: Choose The Expiration Time And The Amount You Invest In A Trade
Expiration time is the time to end the trade. There’s a lot of expiration time for you to choose: 1 minute, 5 minutes, 15 minutes, etc. It is safer for you to begin with a 5-minute time period, and 1$ for each trading investment.
Also there’s a line that shows the purchase time for your trade. You should pay attention to this line. It lets you know if you can open another trade. And the red line marks the end of the trade. At that time, you know the trade can get profit or can not get profit.
Step 4: Choose An Deal Up Or Down
This will decide if you can get profit or not. After setting up all the steps, pay attention to the green and red button with the up and down arrow on the screen.
- you predict that the price will rise during trading, press the green button. If you are right, you have profit, or the price can go down, then you are wrong and you lose 100% of your investment.
- If you think the price will fall in the trading time click the red button. Also, if you are right, you have an income of the asset. If you are wrong, you lose 100% of your profit.
At first, you may feel confused, and opening a trade seems difficult. It’s take time and practice to become a professional trader on Binomo.
These are the basic trading steps. At first, you should practice in order to get used to it.