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The Awesome Forex Factory Binary Option Twist For Trading Forex

April 11, 2012 | Comments: 0 | Views: 143

Fellow forex traders and those contemplating trading forex in the future. You will be amazed at how easy, simple and non-stressful trading forex can be when one uses the binary option platform to place their trades.This new revolutionary form of trading is a piece of cake for traders already familiar with traditional currency trading and not much more difficult for the newbie that wants to break into the exciting world of trading in the Foreign Exchange markets.

Yes, you will need a good manual system designed especially for this type of binary option trading and it's always recommended to practice for a while using free demo accounts with a new system even if you have some prior experience.This type of trading forex is quite new because binary option trading has only been online for a few years and to tell the truth, it has only gained a substantial amount of popularity in the last year or so.

You might say, why is it so easy and non-stressful? Well for one, no more stop losses to worry about because there are none. Secondly, no need to watch your trade because it will expire automatically on the binary option platform according to the expiry time you chose when you placed the trade.You can even close down your computer after you have placed your trade and if it expires one 10th of a pip above or below your target, depending on which direction you traded, it expired "in the money" and you will win.

It is so simple trading forex on the binary option platform. You choose your expiry time. Most brokers have from 1 minute, 15 minutes, 30 minutes and 1 hour or more. Next you choose your direction which can be designated as "call" or "put" and depending on the particular broker, some call it "high" or "low" and some simply "up" or "down". Then the amount your trading and click the button to make your trade. That's it and depending on the forex pair you are trading, the payout can be as high as 85% of your trade amount. You never can lose more than your trade amount and some brokers even give you back 5% or 10% back if you lose the trade.

Now I know some of you are thinking, heck Ed, this is just gambling. Well it could be if you have no method or strategy or money management system to trade by. The same would apply to trading forex if you just place your trades blindly without a method or strategy. BTW, my advice is to never do that as you are certain to blow your account in a very short time.

To wrap it up, I suggest a good little manual system specifically designed for forex binary options. Also, you don't need to pay an arm and a leg for one, perform your due diligence and you will find some very reasonably priced manual systems and methods for trading forex on the binary option platform. A good system will instruct you how to set up your Meta Trader platform to generate your trades and everything else you need to know to get in on this great new way to trade, which I predict will be the wave of the future. Cheers.

Visit to learn more strategies on Forex trading. The purpose and goal of Forex Factory is to educate and enlighten traders and potential traders to the risk versus the economic gain and wealth accumulation possibilities available through trading forex and forex binary option.

Source: EzineArticles
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