5. Invest with the help of Meta Trader – graph from the platform, despite of the fact that brokers often take them directly from the Reuters, primarily represents only a narrow range of prices, from such a small period that it’s hard to properly figure out the situation on the market. The graphs of the platform won’t show you if at the moment there is a trend or price are in the console. You can’t check whether we are in the retracement and when we can get out of it, you won’t see that price just bounces from the resistance or support.
All these facts and many others cause that using an external platform is the absolute duty of everyone who is serious about trading options. When you enter the position your investment decisions are based on what you see, so now have a look on what you see on the options broker platform and how the situation looks at the currency markets.
Based on the image above you can come to the conclusion that we are in the console, entering the market with such movements is dangerous because it’s hard to predict where you will find the price in a few minutes.
Meanwhile at the Forex broker rate clearly shows that we are on an upward trend and that we are close to the resistance, of which price is likely to bounce. You can also see that the support was tested several times and can be important level if the price will bounce from the resistance.
As you can see a short period of time offered by option brokers can be misleading, and it’s your responsibility to install and become familiar with the Meta Trader platform features offered by almost all foreign exchange brokers. With this behaviour you’ll greatly increase your odds of winning.
See also:
Successful investing in Binary Options Part 1
Successful investing in Binary Options Part 2
Successful investing in Binary Options Part 3
Successful investing in Binary Options Part 4
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