What is about daily chart, you only need to take a look once a day. There is not much noise on the daily charts. This means you will be getting fewer false signals making life easier for you. So, this is how you are going to swing trade on the daily charts:
1. Spot a trend. Try to identify it as early as possible. This is essential if you want to make as many pips as possible. Identifying a new trend does not need monitoring the daily charts more than 10 minutes a day.
2. Once you spot a trend, enter it as early as possible before the rest of the crowd. This will ensure that you get maximum number of pips.
3. Once you enter into a trade and get breakeven, replace the stop loss with a trailing stop loss. This way you can continue riding the trend as long as the trend continues. The trailing stop loss will take you out of the trade as soon as the trend reverses. So, once you have placed the trailing stop, you don’t have to monitor anything. The trailing stop loss will trail the price action and as soon as it finds signs of reversal, it will close the trade ensuring that you get the profits that you had made.
Following this simple swing trading strategy on the daily charts will not take more than 10 minutes a day. In the beginning, you will place a buy or sell order with the stop loss. Either the stop loss will be hit and you will be out of the trade or the trade will breakeven. If the trade breaks even replace the stop loss with a trailing stop loss. That’s it. After that it is set and forget! Finally, the one thing that makes binary options better than traditional forex is an advantage that is hard to ignore. The advantage is that binary options are easy to implement. Since all trading platforms are online or web-based, you can trade anywhere and at any time.
When taken in together, these factors have attracted a lot of investors who were unaware of the advantages of binary options earlier. The growth of trading in such options offers both cautious players as well as the high-risk traders valuable potential returns with lesser risk levels than other traditional investment instruments.
Once you are in the Profit Trading Bot System members area, we will recommend a binary options broker that you can exploit. For this, you’ll need funds to deposit in order to start making profits. This is YOUR money that you are just depositing to trade with, and you can withdraw it at any time!