The 5 best Exnova trading strategies for traders


Are you trading on Exnova but still struggling to make profits? If losses are taking over your trading game with the broker, there is possibly something wrong with your trading strategies.

No trading platform can guarantee profits to any trader. However, traders can enhance their chances of profiting by choosing adept binary options strategies. Exnova might be a broker of recent origin. But it offers traders plenty of features perfect for earning money. However, a trader needs the right Exnova trading strategies to prosper. 

So, let us look at the top Exnova trading strategies that can help you make money if you trade carefully. 

The 5 best Exnova trading strategies for traders
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How to use strategies for trading on Exnova?

Exnova - Settings

Traders can determine trading opportunities on time using the right strategies. Strategy can help traders make the correct decisions.

There are several simple and complex trading strategies that traders can easily apply when trading any asset on Exnova. However, traders must first know how they can use them. 

  • Before considering implementing any trading strategy on Exnova, a trader should understand how it works. Also, it is important that traders completely understand how the broker operates and how they can trade on the platform. 
  • After understanding the trading strategy, you must identify potential trades. Exnova offers you many technical tools, Exnova indicators, and advanced features to build your trading strategies. In the process, traders can conduct a technical analysis to understand the potential entry and exit points. 
  • More than 250 assets and financial instruments are available on Exnova for trading. Traders can trade any of these assets. However, first, they must analyze the market. A market analysis will help you determine whether your future trading strategy will be favorable. 
  • Finally, you can implement your Exnova trading strategy and place the trade. Once you execute the trade, check for the market movements. It will allow you to make adjustments if need be.
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(Risk warning: Your capital can be at risk)

5 best trading strategies for traders on Exnova

Here are some useful Exnova trading strategies you can use while trading on Exnova:

1. Trend trading strategy

Exnova - Tutorial

Exnova offers multiple assets that are trending. As a result, traders can trade them to make a profit. However, the best Exnova trading strategy to trade any of these would be to track their trend. 

Trend trading involves monitoring the direction of the price of an asset. Traders using this trading strategy on Exnova usually believe the asset will follow the same direction for a certain period. 

Here’s how this Exnova trading strategy works:

  • Pick a financial asset for trading on Exnova. Next, identify the trend using the technical analysis tools available with the broker. Exnova offers technical analysis tools such as MA, RSI, etc. 
  • Once you identify the trend of the asset, you can enter the position. For example, if a trader finds a bullish trend, you can consider buying the asset. 
  • After entering the trade, you must ensure that you monitor the position. 

While using this Exnova strategy, remember that trends can change at any time. Therefore, you must exit a trade whenever the trends reverse. 

2. Breakout strategy

Breakout-trading

The breakout strategy is another common one that traders use on Exnova. Traders who use a breakout strategy wait for the asset’s price to break through a certain level. A trader considers entering a trade when the price crosses or breaks through a certain key resistance and support level. 

Implementing the breakout trading strategy on Exnova requires a trader to conduct a technical analysis. Traders can follow the trend lines and use moving averages to determine the right time to enter a trade. In addition, there are also many charts available on Exnova that traders can use in their technical analysis. 

To implement this Exnova trading strategy, a trader needs to:

  • Identify the market resistance and support levels. 
  • Wait for a breakthrough in an asset’s price through that level. Exnova offers technical indicators such as momentum oscillators that allow traders to confirm the breakout. 
  • After the breakout, a trader can enter the position. 
  • Once the trade starts progressing, a trader needs to monitor his position well. If the asset price fluctuates too much, a trader can always use the stop-loss feature that Exnova offers. This feature will help traders limit their losses. 
  • A trader must exit the trade if the price goes downhill. 

You can also try out variations of the breakout strategy, such as the open-range breakout strategy. Furthermore, it is helpful to learn how to trade false breakouts.

3. News trading strategy

Exnova- news
Exnova – news

News trading strategy can be the easiest of all the Exnova trading strategies. If you are a beginner on the trading platform, you can begin trading by following the news. News can affect the market and the asset price you are trading. 

While using the thus trading strategy, a trader can take positions based on the release of economic events or news. This Exnova trading strategy assumes that news can cause volatility in the market. Traders who are quick to take action can tap such market opportunities and make money. 

Here’s how the news trading strategy works:

  • Traders can begin by identifying upcoming news events that could significantly affect the market. Traders can use the economic calendars offered by Exnova to track scheduled releases of important economic data.
  • Now, traders must analyze the impact of such events on the market. It involves studying the consensus, forecast, and historical data. Traders must also ascertain market expectations. It will help them know the potential direction and the magnitude of price change.
  • Traders can enter a position or execute the trade based on this information.
  • As with other Exnova trading strategies, the trader must manage his position and exit when the market starts going downhill.
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(Risk warning: Your capital can be at risk)

4. Swing trading strategy

Swing trading strategy

Traders who implement the swing trading strategy aim to capture short-term price movements. This Exnova trading strategy allows traders to reach their targets. They can even hold such positions for several weeks. It might help traders profit from short-term price fluctuations.

A trader can formulate his swing trading strategy using the technical analysis tools available on Exnova. It usually involves using trading indicators, trend lines, and chart patterns.

A trader can use these steps to implement the swing trading strategy:

  • The key to using the swing trading strategy is to know the price direction of the trend. Traders can use MA or other indicators for the same.
  • After identifying the trend, a trader can enter the position.
  • Traders using this Exnova trading indicator should also set a target for the trade. Setting the target would also require traders to identify the key resistance in support levels.
  • After this, traders can enter their position and manage their trades.

5. Scalping strategy

Scalping

The scalping strategy is another common trading strategy that you can use on Exnova. Usually, scalpers make multiple trades within a brief time. The scalping trading strategy’s basic goal is to earn money from small price fluctuations. 

Traders can hold their positions for some seconds or minutes. But, again, the aim is to capture small gains from quick price fluctuations.

Traders can use the features offered by Exnova to determine the buy and sell opportunities using this strategy.

  • The first step in scalping is to identify market conditions that make scalping possible. Traders can look for markets that offer higher liquidity. The market should have low volatility and stable trends.
  • After identifying the market conditions, traders can look for potential entry and exit points. Don’t forget to conduct the price action analysis before executing any trade.
  • Finally, traders can place the trade based on their analysis.

Conclusion – Apply the 5 best Exnova strategies

Line chart on Exnova

Trading on Exnova can be highly profitable. However, it requires patience and the correct knowledge of the market in which a trader is trading.

With the right trading strategies, traders can build a fortune while trading. Though there are many trading strategies that you can implement, these five trading strategies stand the test of time.

These Exnova trading strategies suit all traders. However, a trader must use proper risk management techniques while implementing these strategies. With proper discipline, a trader can maximize his chances of succeeding on Exnova.

› Sign up for free with Exnova and use the best strategies!

(Risk warning: Your capital can be at risk)

Frequently asked questions about trading strategies for use on the Exnova platform:

What type of trading strategies can a trader use on Exnova?

Traders can use any trading strategy of their preference on Exnova. These include train following, news trading, swing trading, and scalping. Every trading strategy can help a trader profit from different market situations.

Can a trader use multiple trading strategies at once while trading on Exnova?

Yes, a trader can use multiple trading strategies at once while trading on Exnova. However, it can be challenging to manage more than one trading strategy at any time. Also, it might increase the risk exposure of the trader, but if a trader has a solid understanding of every strategy, he can fit two or more strategies together.

How can I analyze my trading strategy on Exnova?

A trader can analyze or evaluate his trading strategy by implementing it on the demo account. The demo account will allow a trader to test the strategies without losing their funds, even if the strategy fails.

Which trading strategy should I use on Exnova?

You can use any trading strategy on Exnova. A trader must conduct proper research and understand the trading strategy he is willing to use.

About the author

Marc Van Sittert
Marc Van Sittert is an experienced Binary Options Trader and coach who is originally from South Africa. He started his career in 2014 by trading old-school Binary Options online. His main focus is on short-term contracts with 60-second trades.

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