Want to try something different from the usual casino games and slots? Something even more exciting? And here is the best bit; with a little study and know how you will have a big advantage on the house. Trading binary options gives you all of this, You wont get that with your slot machines or casino games.
What Are Binary Options?
Binary options trading is really simple to understand. It is a bet on whether something will happen or not. When applied to financials, like individual shares, stock indices or foreign exchange rates (forex), you can gain an advantage with a bit of knowledge about how to read these markets.
The markets follow patterns, they react to news, they can be predictable. Using a binary bet to trade them is a great way of trading the financial markets but fixing your risk.
Steps To Get Started
- Learn About Reading Charts
- Follow the Daily News
- Learn About The Types Of Trade
- Practice With A Demo Account
Do All Of This At:
Types Of Binary Bet
There are many different types of binary bets that you can place, here are a few examples:
- One Touch – you think that a certain price or level will be touched
- No Touch – you think a certain price level wont be reached
- Tunnel – you think that the price will stay inside a certain price range
- Higher/Lower – you think the price will end higher or lower
Binary Trading Strategies
As you become more experienced it will pay to develop your own strategies, or fine tune existing ones. If you can develop something that others haven’t yet thought of you gain the edge.
Taking Winnings & Cutting Losses
If your predicted outcome comes true, you win the bet and take the money. If it doesn’t you lose the bet. However, you could close a bet early.
You you may see some good profits and decide not to risk waiting for the final outcome, in this case you close out and bank the winnings. Similarly, it may look like your predicted outcome isn’t going to happen and decide it is not worth waiting; you can decide to close early and keep any losses to a minimum.