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The first trade is probably the most important one a trader will ever make. It is so, because you need to do it on your own, while ensuring that everything has been done correctly.
What you should note is that there are three main points you need to consider in order to make you first entry in the market. First, choosing your asset; second, determining the price direction; and third, calculating the potential outcomes of the trade.
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Choosing an asset!!!
The first step in trading binary options is deciding what kinds of assets you want to trade. Once you make up your mind, it is time to log in the platform you have chosen and select the exact type of asset you feel comfortable with. We recommend you to try an asset, which you are interested in. For example, if you are interested in sports manufacturing industry, then why don’t you try trading the Nike stock? Once you make this important decision, it is time to begin the analysis. Many people underestimate the power of research and analysis, but eventually everyone will draw the conclusion that it is probably the most important part of every successful trade. It will help you determine the future movement of the assets price and eventually generate a profit.
(Watch this video till the end for Best Price Action Strategy of 5 Minutes
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