It is no doubt that strategies are very useful in trading with binary options. You will especially like systems with unique and strange names and those that actually work and offer useful information. Two Armies Forex is can be one of your choices in the Trading system list. It is good and flexible since binary options traders can also use it. Let’s see what this strategy is all about.
WHAT IS THE SYSTEM ALL ABOUT?
The name Two Armies sounds strong already and the content of the name is strong and reliable as well. Two Armies Trading System makes use of resistance and support (thus Two Armies) to forecast its trades. This strategy is used in forums like BabyPips.com. It is specially created for foreign exchange trading but can also be helpful for those who are into binary trading. For some time, Two Armies is by far one of the best strategies you can use.
This strategy was authored Bambino358. Through forum posts he has delivered his message. Primarily, he shows the strategy’s foundations. Some of the posts on the forum talk about sellers and buyer and how they can make forex work. He then describes how sellers and buyers are similar to armies where the charts are the battle lines. These attack lines are the resistance and support lines. When you say resistance, that is when there is an advance in the bear army and when bull army advances that is when the support comes in. However, there are instances when armies fight over similar lines. The strategy’s point is actually which army is stronger and where they are. When you identify the stronger army, you can then list the army by putting a matching trade.
WHY IS THIS A GOOD STRATEGY?
This strategy is good because of its technicalities. Its technical analysis is very well explained and actually works. The strategy may be originally intended for numerous time frame analysis just like many other strategies out there. However, it goes deeper on its application, not like many of the strategies out there. It is made especially for forex most especially for traded pairs. It will also be useful for most if not all binary assets. It is very useful for short time frame trading. Moreover, the author also recognizes how futile market prediction below fifteen minutes can be.
WHY IS THIS NOT A GOOD STRATEGY?
The fact that it seems too complicated makes the strategy quite “unstrategic.” Novice traders will have their jaws dropping on the ins and outs of the strategy. It actually represents years of experience in trading. Binary traders may not appreciate its methods. Nonetheless, you may need to technical analysis knowledge on trading. The major reason why this strategy seems complicated is that you need to identify a bevy of technical signals when prices attain resistance or support line.
This system is easy to like not because it has an interesting name but because it is actually good. It is great when you focus on price action and explanation. Nevertheless, it is complicated but in a fair manner. Newbies may not find it as a good haven, but they can use it once they become amateurs. Two armies greatly rely on many signals including deeper knowledge market. You can trade using resistance and support alone when you have learned about the basics of charting, trend, candlesticks, fundamental, and trend analysis.