The secret to making money in binary trading, is actually easy when you know how. In fact, because binary trading involves just 2 options (hence the ‘binary’ part of the phrase), it is actually relatively simple to make decisions in this field.
Knowing when to CALL and when to PUT is crucial to turning your deposits into profits and preventing losses. And, given that you can take away up to around 90% of the money associated with a given trade, those profits can be huge amounts of money!
Here, we give you a few basic rules for making money in the world of binary trading.
Follow a pattern
Whether you use the candlestick chart method or focus on moving averages in your trading chart (or opt for a subtle combination of the two, as many traders do), there is no denying, that following a trading strategy will enable you to excel in all your trades.
The candlestick chart method, for instance, gives you a set of hard and fast rules about when you ought to opt for CALL and when you had better PUT instead. It also shows you quick ways of identifying where the market is getting particularly volatile.
The same goes for the moving averages (MA) strategy. Picking a strategy wisely and using it to guide your decisions is one of the essentials to make money in binary trading. And, these decisions really count: binary trading is an ‘all or nothing’ type of trading which means, that you either win or you lose on any given trade.
So, with each trade you make, you will either win the pre determined amount of money associated with that trade, or you will win nothing at all. So, make those decisions really count with a smart trading system.
In order to maximize returns and minimize loses, set yourself a rule to follow this guidelines:
- Find a reputable Binary Option Broker who offers you a Free Education Center and a Free Demo Account, learn as much as you can by watching video tutorials, join webinars and get personal training. Than you can put your knowledge into skills and your skills into practice using the Free Demo Account. This will enable you to become practical and familiarize yourself with the principles and features of the trading software and you’ll be able to gain all the necessary experience needed without having to risk your own money.
- Giving the high risk that involves trading binary options, you must only invest amounts of money you can effort to lose. Never invest money that is borrowed – Keep in mind that with a single trade you can loose all your investment so don’t take unnecessary risks on top of that.
- Set yourself benchmarks for the maximum amount of winnings and losses per day. When you reached that benchmark for better or for worse, just stop trading and start over the next day.
- Only trade when you are completely focused. Never trade when you are under pressure, under the influence of “something” or when you are tired.
A Binary Option Broker who offers you all the above and more that we recommend you to start with is Opteck for the following reasons!
- Fully secured & regulated
- Free daily Signals with over 80% success rate.
- Up to 85% profit on a single trade.
- $50K FREE Demo Account
- 1-on-1 Live training
- Friendly, easy to use online trading platform.
- Exceptional Educational tools: Online courses, live trading webinars, free video tutorials
- Extensive market analysis
- 3 RISK FREE TRADES
Register today with Opteck and start making money trading binary options!
Should you go automated in order to make a money in binary option trading?
It is a rare binary options trader who does not use some kind of trading chart or auto-trading software to help them to keep track of the market. Some traders choose to fully automate their trades, allowing a program to make their every decision for them in order to maximize profits.
Going automated in some sense is a really good idea, but it is advisable to exercise caution when going fully automated. Firstly – where is the fun in just handing your money over to an automated trading software, no matter how much money you make?
Secondly, and just as importantly, a little human ingenuity and creative decision making has been shown to increase your profits in the field of binary options trading. So by all means use a chart to calibrate your moving averages (for example) and use these to guide your decisions.
But, in order to be a top trader making top profits in binary trade, the ultimate decision making power has to be yours! So the secret of earning money in binary trading is to follow the rules but be yourself too.