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In Binomo trading, the two most important factors that are crucial to your profits are price trends and time. Just missing one of the two factors above will cost you money. Today, in this article, I will show you how to trade Binomo simply by fixing one of these two factors. That is the time factor.
Your only remaining job is to predict whether the price will increase or decrease within this fixed time frame. This is the trading strategy using candlestick colors which is a favored strategy by many professional traders in Binomo.
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Video on how to trade using 1-minute candlestick colors in Binomo
How to trade using 1-minute candlestick colors in Binomo
In the trading strategy using candlestick colors, depending on how long the candlestick chart is, you set the same expiration time.
- For the 1-minute candlestick chart, trade as per the 1-minute candlestick.
- For the 5-minute candlestick chart, open orders as per the 5-minute candlestick.
The same goes for other candlestick charts.
Trading using colors of candlesticks of 5 minutes, 15 minutes or more is a bit more complicated. Therefore, I will present in the following article. Today’s article will guide you on how to trade using 1-minute candlestick colors in Binomo.
Below are steps to open an order following 1-minute candlestick colors in Binomo.
Step 1: Customize the time and amount of money for your trade
Here, you should note that the minimum time remaining for you to open an order in Binomo is 30 seconds. Therefore, to be able to open a 1-minute order in Binomo, you need to set the expiration time so that this time remaining is greater than 1 minute (1 minute will be the expiration time for your trade).
For example, in the photo: The time now is 10:21:06. In order to open a 1-minute order, I need to set the expiration time at 10:23:00.
Step 2: Time the entry point
At this step, you will have to focus on waiting until the price has finished creating the current candle and starts to create the next one. You will open the order as soon as this happens.
In the above example, I timed the entry point at 10:22:00 in real-time. When the time remaining is 30 seconds, I open the order. This is the time when prices finish a candle. Now, the expiration time is exactly the same as the new candle time period.
Step 3: Wait for the price to finish creating the new candle to see the result
After opening the order, you just need to wait for the result by simply observing the candlestick color:
- You open an UP order + the price creates a green candle = you are profitable.
- You open an UP order + the price creates a red candle = you are at a loss.
In contrast, when you open a DOWN order:
- The price creates a red candle = you earn money.
- The price creates a green candle = you lose money.
Very simple, right.
In the above example, I opened a DOWN order (betting the next red candle). I don’t need to know how prices fluctuate. I just know that if it is a red candle, I win, if not, I lose.
One last word
Above is an article on how to trade using candlestick colors in Binomo. The advantage of this strategy is that it overcomes the possibility of price manipulation by the platform. In future articles, there will be many trading strategies based on this. Practice on a DEMO account today to apply it in trading.