Some currency pairs have what is called an inverse relationship with another currency pair. What this means is that when one pair is trending upwards, the other trends downward (and vice-versa). The classic example is that of the EUR/USD vs. the USD/CHF. This comes about because the The Swiss economy is closely tied with the rest of the European economy. Additionally, there is the common factor of the US dollar in both pairs.
Keep your eyes on the commodity prices. When they are rising, this generally means that there is a greater chance that you are in a stronger economy and that there is rising inflationary pressure. Avoid when the commodity prices are falling. This generally signals that the economy and inflation are falling as well.
Make specific goals and have specific objectives when trading on the IQ Option market. Write down these goals and objectives so you can refer back to them often. If you hop in your car without a destination in mind, you are not going to reach any destination- this same principle applies to currency trading.
High rewards for minimal risk is what every IQ Option trader is looking for. Be wary of fraud companies and scam artists that prey on this desire, though. There are limits to the possibilities in IQ Option, and no trader can generate profits without taking risks. Once a new trader gets a feel for the market he or she will have a better nose for the "too good to be true" scams.
Give yourself breathing room before making any of the following changes to your trading plan. Increasing or decreasing your stop loss, moving your stop loss when it's close to being hit, or taking trades without analysis. These are all changes you can make, but only after examining all of the pros and cons. Doing it just because you see a good trade will cause you to lose money more times than not.
Know your IQ Option markets. The first market to open is the Australasia area, then Europe and finally, North America. Quite often a market's trading time will overlap with another one, making this the most active trading period. During the trading week, there is always a market open, where you will be able to make a currency trade.
Pay attention to the news of the countries you are trading but do not use the news as your sole reason to make a trade. Just because good or bad news comes out of a marke,t does not mean that it will make a noticeable change, one way or the other, in the currency.
When trading on IQ Option try to coordinate your trading times with times in which different markets overlap. These times will be browse this site when a majority of trading will happen on those markets. Even if you cannot do this, at least make sure that your chosen market is open and do not trade during their closed times.
While the foreign exchange market can be complicated sometimes, that complication holds untold rewards. There are fortunes to be made and broken on this massive exchange for global currency, and the one who can find the right investments can come out of it changed forever by new found financial security.