Binomo Tutorial – Everything you need to know

Want to make quick money and invest in international stocks? Then Binomo is a one-stop solution for you. But, what is Binomo, and how would it help you? To find your answers read our guide: Binomo Tutorial-Everything you need to know.

Binomo is an options trading platform regulated by the IFC- International Financial Commission. It is one of the largest brokers, with over 887,470 active traders daily and up to 30 million successful trades by the end of every week.

What is Binomo and how does it works?

Binomo is a binary options platform where traders bid on various assets, CFD and forex. The platform is a regulated one and thus, pays in real money. 

The trading fee is very nominal, and no commissions are charged for deposits and withdrawals. However, the platform does charge a small inactivity fee if the account is inactive for more than a month. One has to pay $10 or 10 Euros as an inactivity fee. 

In Binomo, you get three account options to choose from- Standard, Gold, and VIP. The standard is the basic one where one will receive a good bonus, unlike a VIP account

The VIP account is a premium account and offers a luxurious trading experience to the trader with hefty bonuses.

The platform also organizes tournaments for their users where they can earn up to $40,000 as a prize. You have to pay $30 to register for the tournament. One can choose various levels of matches to compete. The higher the risk, the more significant is the prize.

You must first enroll on a brokerage platform before discussing how to generate money on Binomo. It’s extremely simple: you need to input your login ID and password, select the account’s currency on the main page, and complete the form. You may quickly figure out how to take your initial steps on the platform by watching the official Binomo video.

How to trade on Binomo?

To start trading on Binomo follow the steps below:

  1. Log in to your real account before you begin trading. To be sure you’re logged in to the appropriate account, look in the upper right corner, just above the chart.
  2. Next, choose the asset you want to trade (for example, EUR/USD).
  3. Enter the trading time and the amount of money you want to trade.
  4. Finally, choose between the green and red buttons to indicate how you think the chart will go.
  5. If your forecast is correct and the chosen trading time expires, the trading platform will immediately deliver your profit to your account.

When trading, conduct your research and don’t rely on external sources for Binomo indications because they aren’t always accurate. It’s also not about winning but about trading, where you’ll need to employ analysis and tactics to create accurate predictions for profitable trades.

What are the benefits of the Binomo platform and what advice should newcomers be given?

A trader can choose from more than 80 different assets. In Binomo, this indicates that any strategy can be profitable. After all, if you don’t notice an entrance on even 30-40 assets. 

 You have at least that many instruments on which to assess the situation and appropriately join the market.

You can employ numerous lines, surebet, Fibonacci levels, and other Binomo strategy tools in addition to indicators. 

Moreover, you can pick any time between 1 minute and 24 hours. The Binomo platform is appropriate for all traders, whether they have extended plans or only join in for a few minutes. Naturally, the Binomo broker encourages newbies to test the plan before taking the risk with real money. As a result, take your time – you should do everything with caution.

Every trader can win with a platform like Binomo. The terminal will not fail even if the approach is designed for 1 minute because it is updated every 1.7 milliseconds. This means that the data received will be updated hundreds of times per second! Incoming quotes (price values) are exceptionally accurate as a result of this.

How do you successfully trade on Binomo?

Trading on Binomo should, of course, begin with a strategy. Even if you don’t want to risk real money right now, you may test any trading strategy on a virtual demo account without risking a thing.

Binomo training is accessible on video. Furthermore, one can obtain many techniques on the internet. Take the simplest example, which you can comprehend and implement right now. You can go to the platform and merely put three indications on it:

  1. Choose periods 5 and 10 for two exponential moving averages.
  2. RSI is normal (do not change settings).
  3. MACD indicator with 20/40/9 parameters.
  4. Beginners would benefit the most from this Binomo trading method.
  5. Even on the screen, everything appears to be relatively straightforward.

How to earn using Binomo?

Traders propose trading any currency pair when EUR or GBP is present. 

  1. Rising (CALL) The RSI crosses from bottom to top at level 30; the moving averages have passed and are going upwards, and the MACD lines are pointing upwards.
  2. Downwards (PUT) RSI passes level 70 from top to bottom; moving averages have passed and are heading down; MACD lines are pointing downwards.

As previously said, this Binomo trading technique is ideal for beginners: it is basic, transparent, and free of excessive indicators.

 You can also use Binomo signals to ensure that you join the market correctly. Though, they will not replace strategy because a novice should learn to perceive the economy with his perspective.

What is the best way to generate money in Binomo without making any investments?

It’s feasible, even if you don’t believe it. It’s preferable to check it out for yourself, especially since it’s free. Many of the Binomo training videos mention that the broker offers the option of opening a demo account. 

It is created in the same manner as a genuine one, except that the broker adds the funds.

It is self-evident that you will not be able to withdraw them because they are virtual. However, you can test any approach without losing anything. 

Furthermore, every trader has the opportunity to trade or even generate income with no initial commitment. Every week, the company hosts a beginner’s tournament with a virtual deposit.

Twenty people will receive a genuine $150 on their account. You can play on Binomo with that amount – that is, use the funds as if you deposited them into your account. 

So, you’ve already cashed the funds or are continuing to spread the deposit in order to make more. It’s already up to you to decide.

Although the event is considered a weekly one, it is frequently held twice or three times a week. As a beginner, all you have to do is register on the website and wait for the necessary signal for the competition to begin on Binomo.

As previously said, consistency is the essential factor in why just 10% of traders can profit from Binomo. But what are they consistently good at? The answer is consistency in sticking to a single strategy. Over an extended period, this method has proven to be relatively beneficial.

It may come as a shock to some, but there is no holy grail, and various trading tactics can produce potentially profitable trading results. 

Traits of a successful Binomo trader

Following are the two most common traits of a successful trader.

#1 They make specific choices

A good trader must be particular when selecting trading instruments, timing, and timeframes when implementing a strategy. Meanwhile, profitable traders keep things as simple as possible and apply the bare minimum of trading tactics.

Each method serves a distinct purpose and has a very specialized application. One technique, for example, performs best with online derivatives trading platforms, while another works best with long expiry dates. In a ranging market, one method works well, while in a trending market, another works best.

#2 Treat a practice account as though it were a real one

The test account has one significant benefit over the genuine one. It is self-evident that you do not trade with your own money, which implies that you do not lose your own money in the event of a failure.

That is why you should constantly test your strategies on a practice account. It does not include an excellent level of danger. Thus your money is safe.

You can switch to a demo account every time to see if the method is working or not. Use the same strategy several times. Then only move to the real account and utilize a specific technique. After that, be convinced if it’s working as it should.

Furthermore, on the practice account, test methods, different financial instruments, and the investment amount for a single transaction. Try to practice, test other options, and then switch to the real account; thus, once you have figured out what works and doesn’t, choose the market, approach, and investment amount without hesitation.

The practice account is used by many new traders as a learning tool. They invest large sums of money, employ haphazard techniques, and do not think critically. After all, it isn’t their money. However, this is incorrect. Do not become accustomed to this way of thinking. Treat a demo account as though it were your own. Otherwise, it may end up costing you money in the long run.

Using a demo account as if it were a real one increases your trust and confidence. It enables you to discriminate between good and bad moves, learn about successful techniques, and be convinced that they will work in the actual world.

Our recommendation is to devote a significant amount of time to training. Assume you’re a professional athlete. You work out for hours before you’re ready to show off your abilities. And whether you win or lose, you return to the training.

In the trading business, you should perform the same thing. The good news is that Binomo offers a free demo account.

When you first start using Binomo, why limit yourself to just one trading instrument?

If you’re a newbie trader, it’s probably preferable to stick to one trading instrument. Financial derivatives are the simplest to understand since they are more consistent than the stock or cryptocurrency markets.

There are no significant price swings, and it’s a lot less volatile. These are the primary reasons why new traders prefer the derivatives market.

Stick to one financial instrument if you’re serious about making money. Learn more about this instrument and discover the best Binomo trading technique for it. This should assist you in enhancing your profit margin and, as a result, your profitability.

Concentrate your efforts and focus on a single goal, plan, or strategy approach. Learn it, perfect it, gain confidence, and have a bit of good luck!

How can you become a part of the Binomo pro trading team?

Step #1 Discover a trading method

The first step after discovering a trading method you like is to try it out on a demo account. Not just for one trade, but for various instruments, market situations, and expiry times, as well as practicing it several times.

Some tactics will improve your balance, while others may decrease it. Statistical solid data can help you figure out which method is the most effective. It will also give you a decent notion of how and where to apply it for the best results.

Every trader is unique and has a set of preferences. As a result, having a method that you enjoy is crucial. You will eventually find a trading strategy that you are comfortable with.

Step #2 Restrict the number of techniques

When trading, be particular: you should aim to restrict the number of techniques and instruments you use from the start. Because trading a limited number of marketplaces at a time allows you to analyze them.

It’s similar to getting to know a person; after seeing them every day for a while, you grow to understand their patterns and can anticipate certain behaviors depending on the circumstances. Financial markets are the same way; each instrument is like a living thing; take your time to get to know it well.

Step #3 Incorporate effective money management

The third and most crucial stage is to incorporate effective money management into your trading strategy. Along with trading psychology, money management is one of the most critical aspects of trading.

The term “financial management” is self-explanatory. You must master the art of money management. To be more particular, within your trading strategy, you must use a set of rules that tell you exactly how much and when to invest. This has the potential to protect your wealth from significant losses while also assisting in the consistent production of earnings.

While there are positive and negative tactics, finding a lucrative one is not difficult. The difficulty is that once a trader discovers it, the method continues to outperform the trader.

You can dodge failure if you are consistent.

If you try to employ money management, you’ll be more likely to prevent failure.

You will stop failing once you stop making decisions emotionally.

Some tips from experts

#1 Knowing the markets in which you deal

It’s critical to understand the market conditions in which you’re trading. It will assist you in making more effective trading decisions. Understanding whether the market is spanning or trending will aid in selecting the best trading technique and the optimum time to enter a trade.

Sitting back and relaxing is sometimes the most pleasing thing to do. Wait for a market that looks familiar and has a pattern that you can recognize. This will eliminate any questions you may have before placing the deal, as well as any tension or uncertainty.

#2 Avoid 60-second deals at all costs

Of course, making 82 percent of your investment in one minute is incredibly appealing. Even the prospect of such quick cash makes you happy. But, as you can see, there is an issue. 60 seconds is both short and long at the same time. You’ll experience anxiousness and fear. And your rational thinking is being robbed by these emotions, leaving you susceptible.

It’s easy to become overconfident when you can generate more money in just 60 seconds. So you’d think you’d discovered the easy way to make a lot of money, and you’d start putting more and more money into a single deal. This is a simple method that has the potential to wipe out all of your prior winnings. Or even worse.

Never forget that prices are constantly changing, even in such a short period as a minute. Even a minor price change can result in a significant loss for you.

Price swings over longer durations, on the other side, are less severe and will not cause you to lose everything. The price will fluctuate over time, whether it is short or long. Longer durations make it easier to assess the market and predict its direction.

#3 Examine your trading history

Every trader’s primary goal is to avoid losses while increasing profits. When you have the opportunity to review your previous deals, it will be a lot easier. The first traders kept a handwritten record of their transactions. Every day, they checked to see which transactions resulted in a profit and which resulted in a loss.

Is there any good news? You are not required to do so. Binomo has a tool called “Trades” that allows you to see the entire history of your previous transactions.

What conclusions can you draw from the trading history? First and foremost, determine whether you made a profit or a loss on that particular day. Second, financial instruments were responsible for the most profitable trades. 

Then you can figure out which techniques perform best and when you made the finest investments. For example, while trading candles on the EUR/USD currency pair, you may see that the largest payouts occur between 10 a.m. and 11 a.m. And now that you have this information, you know when to trade this particular currency pair.

#4 Create and stick to a trading strategy

The first step is to determine how much time you wish to spend with the Binomo demo account. It would be best to set the time frame for three weeks. Or else, it should last long enough for you to figure out which markets will benefit you the most. 

 Another thing to do is decide how much money you’re willing to put into the trade. There are many cases when a trader loses more than he earns, thus set a limit and act on it. Be patient and have faith. 

Conclusion

Should you open an account with Binomo? It is solely up to you to make a decision. Take note of the site’s objective benefits:

The schedule is displayed on a big, easy-to-understand scale. This may appear to be a minor detail, but you can see for yourself how crucial the picture’s ease of perception is.

Binomo provides you with the option to win and research the market right here on this graph. The point is that by employing tools like technical indicators, you can profit from Binomo. You take them and place them on the chart — it’s that simple.

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