In order to improve your chances of succeeding, it is important that you have a carefully-designed strategy when trading binary and forex options on platforms like Pocket Option. This article explores some strategies for trading on the pocket option broker.

1. Following Trends is a Strategy

Pocket Option’s traders are fond of using the trend following strategy. This involves finding the current market trend and trading it. Traders have used technical indicators to confirm the direction of a trend, like Relative Strength Index. Trade with the trends to increase your likelihood of making profitable trading decisions.

2. Reversal Strategy

This strategy, which is also known as the contrarian approach, seeks to identify possible market reversals. They look for indications that a market trend could be losing momentum. Indicators, such as RSI patterns and candlesticks can be used to predict a possible reversal. If executed properly, the strategy of reversal can result in significant profit.

3. Breakout Strategies

In the breakout strategy, traders identify key resistance and support levels. They then trade when these levels are broken. Bollinger Bands (or the ATR or Average True Range) are used by traders to find potential breakouts. Traders take advantage of breakouts, as they often result in rapid changes in prices.

4. Risk Management

No matter what strategy you use, it is vital to manage risk. Pocket Option features stop-loss or take-profit orders, which allow for predetermined exit points. Investors can protect their capital by determining how much they will risk per trade.

5. News Trading Strategy

Trading news is about taking advantage market volatility that’s caused by economic reports, news releases, earnings and news. Pocket Option users can keep track of upcoming economic and market news using Pocket Option’s Economic Calendar. This strategy may be particularly profitable in periods of market volatility.

6. Demo Trading as Practice

You should practice any strategy you plan to implement with real cash on a Demo Account before moving forward. Pocket Option has a virtual money demo account, which allows you to test your strategies without risking real capital. The free demo account allows you to become more proficient and confident when executing the trading strategy of your choice.

To be successful trading with Pocket Option (or any other platform), you need a trading strategy that is well defined, disciplined in risk management, as well as continuous learning. The strategy you choose should be in line with your trading style and risk tolerance. Keep in mind, too, that trading is not a risk-free endeavor, as there are always going to be losses. Trade responsibly, and don’t invest more money than you are willing to lose.