Expert Option Kenya Review for 2024 | Mpesa Accepted (2024)

Both signals and social trading can help you save time and effort in analyzing the market and making trading decisions. They can also help you learn from other traders and improve your own skills and strategies.

However, keep in mind that signals and social trading are not 100% accurate or guaranteed. T

hey are based on past performance and do not reflect future results. Therefore, it is important to always do your own research and use proper risk management when using these features.

How to Apply the Best Strategies and Tips for Success in Expert Option

To trade like a pro on Expert Option Kenya, you need to have a clear strategy and follow some tips for success.

And what is a strategy?

A strategy is a set of rules or guidelines that tell you when to enter or exit a trade based on certain conditions.

A tip on the other hand is a piece of advice or suggestion that can help you improve your trading performance.

Types of trading strategies

There are many types of strategies and tips that you can use on Expert Option, such as trend-following, breakout, reversal, scalping, swing, etc.

Each strategy and tip has its own advantages and disadvantages, as well as suitability for different market conditions and time frames.

To choose a strategy and tip that works for you, you need to consider your trading goals, personality, style, and risk appetite.

For example, if you are a patient and cautious trader who prefers long-term trades with low risk and high reward, you might want to use a trend-following strategy and tip.

On the other hand, if you are an aggressive and impulsive trader who likes short-term trades with high risk and high reward, you might want to use a scalping or breakout strategy and tip.

You can also combine different strategies and tips or create your own custom strategy and tip based on your experience and preferences. However, whatever strategy and tip you choose, make sure that you test it thoroughly before using it with real money.

You can use the demo account or backtesting tools to evaluate your strategy’s and tip’s performance and optimize their parameters.

Here are some examples of strategies and tips that you can use on Expert Option Kenya:

1). Trend-Following Strategy and Tip

A trend-following strategy is a type of strategy that involves trading in the direction of the dominant trend.

And what is a trend?

A trend is the general direction in which the price of an asset is moving over a period of time.

There are three types of trends: uptrend (when the price is making higher highs and higher lows), downtrend (when the price is making lower highs and lower lows), and sideways trend (when the price is moving within a range).

A trend-following strategy can help you identify the best entry and exit points for your trades.

You can also use your trend-following strategy to determine your trading bias.

To apply a trend-following strategy on Expert Option Kenya, you need to:

1. Identify the dominant trend on the daily chart using various tools and indicators such as trend lines, moving averages, Bollinger bands, MACD, RSI, etc.
2. Trade in the direction of the dominant trend on the lower time frames (such as 4-hour or 1-hour) using signals or social trading.

A trend-following tip is to use multiple time frame analyses to confirm the trend direction and strength.

For example, if you see an uptrend on the daily chart, you might want to look for buy signals or copy buy traders on the 4-hour or 1-hour charts.

Conversely, if you see a downtrend on the daily chart, you might want to look for sell signals or copy sell traders on the 4-hour or 1-hour charts.

2). Breakout Strategy and Tip

A breakout strategy is a type of strategy that involves trading when the price of an asset breaks out of a consolidation or range.

And what is a consolidation?

A consolidation or range is a period of time when the price of an asset moves within a narrow band without making significant highs or lows.

A breakout strategy can help you capture large price movements that occur after periods of low volatility or indecision.

You can also use it to trade major news events or market sentiment changes that cause sudden price spikes or drops.

To apply a breakout strategy on Expert Option Kenya, you need to:

1. Identify a consolidation or range on the chart using tools and indicators such as horizontal lines, support and resistance levels, Bollinger bands, etc.
2. Wait for the price to break out of the consolidation or range with a strong candlestick or signal.
3. Trade in the direction of the breakout with a high trade amount and a short time frame (such as 15 seconds or 1 minute).
4. Wait for the trade to close, either in profits or a loss of your invested capital.

Breakout tip

Use volume analysis to confirm the breakout’s validity and strength.

For example, if you see a high volume spike accompanying the breakout, it means that there is a lot of buying or selling pressure behind the move, and the breakout is likely to continue.

On the other hand, if you see a low volume spike accompanying the breakout, it means that there is not much interest or momentum behind the move, and the breakout is likely to fail or reverse.