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I actually still trade both Forex and binary options to this day, and occasionally I deal in other markets as well. When I first became interested in currency trading years ago, I initially made the assumption that I was getting into a niche that was highly specific and which would require very specialized skill sets as a result. So I was very surprised when I noticed that a lot of other Forex traders were using the systems they had developed for currency trading to trade other assets as well. And then of course I stumbled upon binary options, and I found that many of the strategies I had been using for FX transferred right over.
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Write down the reasons for making a certain bet, but remember to be honest with yourself — this is what the trading journal is all about. Write down the price, take some notes, and later take a look at your mistakes.
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What is the Best Binary Options Broker? Binary options trading hinges on a simple question — will the underlying asset be above or below a certain price at a specified time? If so, you can make substantial profits with one of the most straightforward financial instruments to trade.
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Binary Options give traders who do not consider themselves experts on the most complex financial instruments, or who do not have the means to invest thousands of dollars in their first trade, a feasible option. With Binary Options, you can benefit from significant profits, while taking advantage of both a minimal investment as well as instant gratification.
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Let us take them one after the other. Expiry times can be as low as 5 minutes. How does it work? First, the trader sets two price targets to form a price range.