It’s almost impossible these days to take advantage of pay-per-click sites and not see the different advertisements for binary options trading. The profit claims are very encouraging and while some people have apprehensions on this day-trading activity, there are many valid success stories for binary options traders and it’s hard to discount their claims as mere marketing ploys to draw more potential traders to trading platforms.
The good thing about binary options trading is it’s actually quite simple. You don’t need to be particularly knowledgeable about the market dynamics, although that surely would be a competitive advantage. Also, you don’t need a large start-up amount; there are binary options platforms that allow day-trading for as low as $5.00 – the typical leftover amount after a shopping trip at the supermarket. Worth mentioning as well is that with binary options, if the asset is “basically” higher than your established baseline, you get a full payout.
Of course, like any type of trade, there’s equal possibility for loss and success, although trading signals providers claim that with the integration of other sources of signals, the ratio for loss and success has improved with as much as a 78% possibility for trading success. The bottom line is that there are always risks involved; after all, it’s an all-or-nothing bet. If you’re not afraid of the odds, there’s a wealth of tips and strategies that you can take advantage of to learn how to trade binary options successfully for profit.
The first one is to choose options that you are familiar with or interested in, and with binary options, you get an array of choices; you can trade currencies against one another (forex), various commodities, and stocks.
The second one is to make use of available help. Like what was mentioned earlier, there are signals providers that can help make the best trading call either for risk management or investment profit and security. With the integration of social media in deriving more accurate signals, you can increase your chances of winning. There are free signals providers online but it’s better to choose the services of those you have to pay a fee for because the signals they will provide you are timely or up to date.
Third one is to develop a trading strategy; if you want more consistent wins, you need to learn how to analyse the market and get a feel of the direction it’s headed towards. There are books you can read, you can follow trading blogs, read the newspaper, and just really pick up information that will help you create your own analyses to support your strategy.
Last one is to make time work for you. Seasoned experts share that there are recommended times for trading particular binary options. For stocks, take into account the hours at which the stock markets are in operation; in the US, it’s from 9:30 a.m. to 4 p.m. EST. Meanwhile, for forex trading, the market is at its peak when there is an overlap of the London/Asian and London/New York time zones. Finally, for commodities, trading professionals provided the following peak hours: Crude oil (NYMEX.CL) – 9 a.m. EST to 2:30 p.m. EST; Natural gas – 9:30 a.m. EST to 5:15 p.m. EST; Corn – 9:30 a.m. EST to 1:15 p.m. EST; Gold – 8:20 a.m. EST to 5:15 p.m. EST; Silver – 8:25 a.m. EST to 5:15 p.m. EST.
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