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Forex trading is always accompanied with the sense of mystery around it. It is because there is no perfect formula that can help you make the winning trades each time. In a way, trading can be compared to surfing. You will need talent, balance, proper equipment, and patience. Also, you will need to be alert of external factors and movements. With proper tools and experience, you will recognize the right tides that can be ridden successfully, and the dangerous waves that you need to leave alone.

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You may have your accounts with the best binary options brokers, but you cannot overlook the importance of market analysis, aptitude, and hard work. Below are the main pillars that can be included in your trading strategy for success. New traders must first recognize the importance of proper preparation. Firstly, you will need to identify your personal aims and temperament regarding the trade market. Understand your limitations, and your strengths.

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Timeframe - Timeframe specifies the kind of trading that suits your temperament. If you prefer using the 5 minute chart, it indicates that you are not comfortable with being exposed to overnight trading risk. Choosing the weekly chart means that you are willing to risk overnight trading. Determine whether you have time and keenness to sit all day in front of the screen, or if you prefer to research over weekends and make trades next week on the basis of your weekend analysis.