One of the main attractions of trading Binary Options is that there is of course an element of skill involved in you choosing just which Assets or Forex Options to trade, and if you are the type of investor who likes to keep their finger on the pulse, and are the type of person who religiously reads all of the latest financial news sorties then they are regular and repeated profits to be made by successfully trading Binary Options online.
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HOW TO MAKE MONEY WITH BINARY OPTIONS TRADING
Now we come to where the rubber meets the road: profiting from binary options
trading. We’re not talking about making a killing with a single trade. Here, we’re referring
to building a reliable trading system that helps you to produce a reasonable return over
the long run. We’ll give you a few tips to get you started.
1. Learn how to read candlestick charts.
A lot of the price activity you’ll see in binaries can be predicted by studying past
price movements. This is essentially what candlestick charts show. The charts
themselves might seem complicated at first, but are actually simple to read once you
learn the basics and the common candlestick patterns.
2. Study the past price activity of your chosen underlying assets.
Trading binary options for profit is not like gambling. It’s not a roll of the dice nor
flip of the coin. A knowledgeable trader can use data and information to pick binaries
that are more likely to expire in the money. Some of the most important data are found
in the asset’s recent price activity.
3. Watch and follow pricing trends.
If the price of gold has been climbing for the past few days, resist the temptation to
bet on a reversal. Likewise, if IBM shares have cratered and continue to fall, don’t
assume a buying pressure is going to magically materialize and push the price upward.
Betting with trends is a good strategy when trading short-term binaries. Betting against
trends is asking for trouble.
4. Don’t bet your mortgage payment.
Even if you’re absolutely certain a binary option can’t miss – that it’s going to go
your way and make you rich in the process – hold onto your grocery money. There is
significant risk attached to trading this type of instrument. Even if a hunch or a tip from a
friend turns out to be correct, it may do so outside the expiration of your trade. Be
conservative with your bankroll. Be smart.
5. Get some experience before risking a sizable piece of your cash flow.
Several brokers offer demo accounts. (Check out TradeRush, 24Option, and Bank
de Binary, all of which are on our list of legitimate binary options brokers.) You can
practice executing trades in these accounts without putting your own money at risk.
You’ll also have a chance to get accustomed to the binary options platform hosted by
the broker.
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3 DIFFERENT WAYS TO MAKE MONEY BINARY OPTIONS TRADING
Let’s begin with a quick recap of the various types of binaries you can trade to
make money. The simplest type are up or down options (also known as call/put options
and high/low options). You predict whether the price of the underlying asset will be
higher or lower when the option expires.
One touch options are nearly as simple. Here, you predict whether the asset’s
price will “touch” a certain price before the option expires. All of the legit binary options
brokers on our list offer this type of instrument.
You can also trade range options. With these binaries, you predict whether an
asset’s price will stay within, or move outside, a certain range while the option is active
(i.e. until it expires).
These three types of binary options cover the majority of instruments you can
execute. They vary by expiration – some expire in 60 seconds, others in hours – and
underlying asset (stocks, indices, commodities, and currencies).
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3 TYPES OF PEOPLE TRADE BINARY OPTIONS
The folks who trade binary options to make money fall into 3 broad categories. Try
to identify the category that best describes you.
The first is The Gambler. This individual approaches binary options trading in the
same way he approaches a roulette wheel. To him, whether he profits or not is based
entirely on chance (e.g. red versus black). Hence, he doesn’t look at candlestick charts,
pays no attention to pivot points, and couldn’t care less about Fibonacci retracements.
In the second category we find The Investor. This individual looks at trading
binaries as a method to “juice up” the return on his investment portfolio. If someone
were to ask him about the things he invests in, he might respond, “IBM, Google, muni
bonds, and some binary options trading.” Investors often fail to realize the high degree
of risk they assume as they chase the high returns advertised by binary options brokers.
The third category is made up of traders who are realistic. These folks typically
have experience, and are well aware of the risks associated with trading binaries. They
also know that having a keen grasp of the assets that underlie the options, and a
familiarity with certain aspects of technical analysis, gives them an edge. And with that
edge, they know they can consistently make money trading binary options. This is the
group with which you want to identify yourself.
Advantages Of Trading Binary Options For Profit
If you’re just getting started trading binaries, you’ll be struck by some of the
advantages it offers over other forms of trading and investing. For example, the
potential returns are astronomical (but remember, they come with higher risks).
Someone who invests in stocks may be content with a 10% annual return. With binary
options trading, it’s possible to almost double your investment within minutes.
It’s also very easy to get involved. Unlike trading conventional options or
participating in forex, trading binaries is simple. You can open an account online and
start trading within minutes of your deposit being credited to your account.
Another advantage is that binary options expire quickly, allowing you to pursue
additional trades. Your capital is not held hostage by the option, but instead released so
you can use it to make more money. You can be in and out of a given trade in as little
as 60 seconds.
To summarize, you can definitely make money with binary options trading. A lot of
people are doing it successfully each day. But it’s important to understand the risks
involved, and the factors that play a role in making a consistent profit. If you want to get
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started today, we recommend that you visit TradeRush, 24Option, and Bank de Binary
and create a demo account at each site. Get some practice trading binaries without
risking your capital. You might be on the cusp of creating a new side income for
yourself.
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