Open an account. You can learn as much as you can about binary options,
but the information doesn’t get you anywhere until you’ve opened an
account. Fortunately, opening one isn’t hard anymore, as you can already
do it using your very own credit card.
2. Use the demo. How do
you know you already have a good online broker? One of the best ways is
to download or utilize the demo. This, of course, gives you limited
features, but they do provide valuable insight about how the software
works and even how binary options function.
3. Learn a lot about
binary option. If you truly want to succeed in binary option, then you
have to know it very well. It’s your education that makes you very smart
when it comes to making sound decisions and maximizing the tools
4. Determine when to invest in binary option. Experts
say the best time to do a binary option is every hour since there’s a
small likelihood trends change drastically. Nevertheless, when to trade
depends upon your goal and a host of other factors that affect market
5. Find the best online brokers. Find online trading
platforms that have 99.99 percent uptime, relevant tools, user-friendly
interface, and excellent and reliable customer support. Some platforms
can already handle several asset groups too and are accessible even
6. Don’t trade when you’re physically and
emotionally spent. Your own state of being can cause you a lot of money.
When you’re physically and emotionally tired, you cannot think
properly. When that happens, you cannot expect yourself to create
objective or evidence-based decisions.
7. Begin slowly and
small. You’re not on a racecourse, so there’s no reason why you should
really hurry. Instead start small and work your way up. As they say,
it’s better to do things slowly but surely.
8. Learn about
payouts. Payouts basically tell you how much you can earn when you’re in
the money or not. The average range is 60 to 71 percent, though some of
the best online brokers can give you up to 90 percent and up. The good
ones also provide you with something even if you “lose,” which is around
10 to 15 percent.
9. Check if there’s a mobile version. If
you’re always on the road, it pays to find an online trading platform
you can conveniently open through your mobile device, such as a smart
phone or a tablet.
10. Properly use the various trade signals.
Trade signals are suggestions that have been derived by collating
various market data sources and creating a thorough analysis on them. If
used right, they can mean quick bucks for you. Trade signals, however,
are recommended for veterans who are in a much better position to
determine whether the suggestions are worth it or not.
to know more about other financial instruments. In binary options, you
really don’t deal with the assets per se but on contracts. But you can
do binary options in several financial instruments including stocks,
commodities, and foreign exchange.
12. Don’t be discouraged. In
investing, you either win some or lose some. You can’t expect to be
winning all the time. However , in those times that you lose, dust
yourself off, learn from your mistakes, and move on.
out for market trends. Though binary options are about speculations, you
don’t second-guess. You base your judgment on solid proofs such as
market trends, which can be both technical and fundamental. Pay
attention therefore to business news, subscribe to business magazines,
or find a trading platform that gives real-time market updates.
Don’t veer away too much from the trends. There must be a solid reason
why many are opting for by the hour than weekly or monthly for binary
options. Since you cannot afford to experiment when you’re new, follow
what the experts are doing and obey the trends.
15. Never stop
learning. There are plenty of changes happening in investing: new
technologies and techniques available. Keep yourself abreast to these
new changes, so you can further enhance your game plan.
a plan. What do you want to achieve in the next few months or year:
diversify your portfolio, use various binary options trading methods, or
build your retirement account? Your goal can affect your strategies in
17. Diversify your portfolio. As mentioned, you can
do binary options in stocks, commodities, and forex. Through
diversification, you can reduce the effects of potential losses by
increasing your chances of profits in other areas.
hedging. Hedging is simply a means of protecting you against a potential
loss. It’s a great move if you’re sure of the positive movements in
prices during the expiry date.
19. Think long term. To really feel the effects of your efforts today, let your money grow over time.