For beginners, binary options are complex-free and simple techniques, which to help them enter the monetary market. More and more people are now doing binary options trading and making huge profits out of it. When you are using binary options, you need to follow certain trading strategies to get success.
Learn the Assets
Each asset has its own characteristics, so it is best advised to commit the time and energy to specialize in just a few assets than try to understand the complexities of all of them. The more you understand about an asset, the easier it is to explain and predict why it is moving in one particular direction.
Practice and practice
The more you practice; the more chance you will get it right when it really matters. Having a practice account or trying a demo can give the trader opportunities to get a feel for the platform, try out new strategies and familiarize yourself with the customer service without having to actually put any money down.
Read the news
Knowing what is happening in the world doesn’t involve scouring the news for hours on end and more often than not, a few targeted news sites can keep even the most isolated trader up to date with the news and events that formulate market direction. Be sure to read our daily analysis which covers all the major markets including Forex, Stocks, Commodities and Indices. It even looks at the outlook for the day with upcoming economic events and how they might affect the various assets.
Choose the right platform
The platforms in which trade vary considerably. So when choosing a platform that is right for you, it is important to consider:
Number of Assets–Generally, the number of assets a platform will offer can be as little as 20 running up to the hundreds for other platforms. This is not to say that the platform offering the most assets is the best; even though more profit opportunities are created by an increased amount of assets to trade, the important aspect is choosing a platform that offers the assets right for you, especially if you are looking to trade currency pairs or stocks.
The Returns – Trading gold over one hour may offer a fixed return of 65% with one platform, but the same contract can produce a return of 80% with another platform. That means you can increase your profits by 15% for doing nothing other than your homework in choosing the right platform.
Deposits/Withdrawals – Something that is often over looked by traders but can be very important in money management. The different platforms have different rules regarding every aspect of the deposit and withdrawal process. There can be limitations and penalties on the withdrawals which may affect your liquidity, so read through the terms and conditions to make sure the platforms banking policy suits you.
How to Trade
1)Choose an Asset – Anything from currency pairs like the EUR/USD, Stocks like Yahoo, Indices like the Nikkei 225 and commodities like Gold.
2)Make your Prediction – Select a call or put option on the asset you have chosen
3)Choose the amount to invest
4)Wait for Expiry.
If your prediction was correct at the time of expiry; you are in the money and receive the stated payout. If your prediction was incorrect at the time of expiry; you are out of the money.
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