As the name suggests, binary signifies two. In the trading world the binary option is a type of trading when the profit is either some fixed amount of some asset or nothing at all. For stock exchange trading the two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing option. They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and Fixed Return Options (FROs) (on the American Stock Exchange) .
One of the most attractive forex features is that you can profit from Forex at the comforts of your home or at an airport waiting for your flight or at the beach in Thailand. It is a risky business too.
You have to discover yourself whether this business for you. Whether you sociological, physiological and intellectual strengths are combined to trade and win. You can not avoid the risks entirely. Therefore, you must be a risk taker and a firm decision-maker as well. There are many visual tools and charts to assist you in making right decisions.
The trend is your friend is one of the oldest axiom in trading but it is also one of the most important in the forex trading strategy. Trends in currencies can last for days, weeks and sometimes even months. Currencies are considered as confidence measures for a country. In turn the outlook for a country usually gets increasingly better or worse.
There is a variety of trading strategies to make money in FOREX. There are also many ways to lose money. Some of them work for beginners of Forex but others even for experienced traders.
There are several cautions and disadvantages of this method. First, you should generally avoid trading in multiple time frames at the same time. This is especially true if one of your methods is scalping. You simply cannot be successful at this kind of trading without constant attention and focus.