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Different trading styles are scalping, scaling, swinging, and even investing, and they are suitable for different trading environments.For example, it is well-known the fact that markets spend most of the time in consolidation as corrective waves are more common than impulsive waves, or, in plain English, trends are not that common.Even trading sessions are different as the most liquid one (meaning the one that prices are supposed to move the most) is the London session followed by the North American one, while the Asian session is characterised by small ranges. Etoro vs octa fx copy trading. Therefore, one of the best trading practices after accepting one of the many Forex promotions no deposit bonuses is to scalp through small ranges or illiquid sessions.The purpose is to use these small ranges to complete the volume necessary to clear the bonus.This is easier to be done when the market is ranging rather than when the market is trending as technical indicators like oscillators can be used in finding out overbought and oversold levels.
These levels are useless when strong trends are forming so Asian session, for example, is ideal for clearing a no deposit fx bonus in the shortest period possible.The other trading methods listed above are not suitable for a no deposit bonus forex as, for example, scaling into a position means to have multiple entries at different levels in order for the average to be the best entry possible.Scaling is very popular among traders with medium term horizon for executing a trade. Malacca international trade centre. It makes sense if one has a bigger account and when the time horizon is not limited.This is usually not the case for traders that accept such a bonus.For the same reason, investing or swing trading is something that is not fit this type of bonus as well as is no way to clear such a bonus trading with these strategies.
One major drawdown of these bonuses, and not necessarily of the no deposit bonus forex brokers, but of the overall industry is that trading is advertised as being so easy and profits can be made in such a simple way that human nature is attracted to it.People as human beings are always going to be attracted by the possibility of gaining an extra buck with as little an effort as possible.I mean, who doesn’t want to earn an extra income on top of the actual job with little or no effort? Because of that, a forex no deposit bonus offer seems to be the best way to make your entry into the trading arena and as a matter of fact, it is a successful way brokers use to attract new customers.One of the best possible advices for people that accept any kind of forex bonuses is to make sure they are reading the terms and conditions they agree to prior to opening a trading account.This is worth mentioning as the vast majority of people is simply clicking the “agree” button without taking the necessary time to read those conditions.
Even if the document is a long one, at least important things should be covered, like legal information about the broker, personal data and confidentiality, how deposits, refunds or withdrawals are being made, recording of telephone calls, etc.This is important because the trading account is real and most of the traders that accept a bonus forex no deposit are ending up funding the trading account with their money eventually.If that is the case, it is better to know from the start who is going to be your partner in the trading world (a good broker should be viewed as a trader’s partner and not someone who wants only to profit – it should be a win-win situation for both parties) as when it comes to real money, one should be as careful as possible before sending it to another party. Binary trading software. To sum up, both parties (forex brokers as well as forex traders) take advantage of these kind of bonuses and the most important thing to keep in mind is to make sure as a trader that you understand all conditions one needs to fulfill.After all, if anyone is giving you free money, usually this is done under specific terms and conditions and not just like that.However, these conditions are typical for the overall forex industry, and it is not something that cannot be accomplished if there’s interest for that.