Whether if you are new to the binary options world or you are a professional, in order to make money from binary options you should know how to answer the following three questions, when you have the answer to all of them your chances to gain money from the binary options are significantly increasing
- Which broker is trust worthy to deposit your money, make sure you get decent winning rates
- What type of binary options are available and how to use them
- How to manage you money and trades
Before you choose a broker or know how to manage your money let’s overview the diversity of popular binary options types, link you to great strategy for almost each one and its special use
Binary option type
One of the most popular binary option out there, the one touch offers two boundaries of price below and above the market price, you win the option if the price will meet the offered price before the expiration date, that’s why it called one touch it’s enough that the market price will only reach to the offered price or touch it, it doesn’t matter if the market price will not end above the offered price, once it reach the offered price you win the option
Best to use if the market is
Here you can find one of the most profitable one touch strategy
This binary option type is a classic one, it offers two boundaries of price, above the market price (High) or below it (Low) and you win if the market price is above the ‘high’ or below the ‘low’ at the expiration time.
Best to use it when you recognize a trend that has great chances to continue
Range High Low
Also known as Boundary option, it’s the same as High Low but this time you win if the price is between the offered range at the expiration time
Best to use it when the market has low volatile and there is no important market events during the binary option time
Here you can find Great and profitable strategy of Boundary option
One of the most profitable binary option type if you know when to use it of course, it offers a set of prices, similar to the one touch rule, the market price should only reach the the offered price you choose, the offered win rates increasing significantly for each ladder price you trade on.
Best of use is when the market is volatile, during important market events and when there is a setup of breakout.
Here is a full review about Ladder option which include a nice strategy you can use.
For each market condition you should first decide what binary option type is best to use, that said, you need a strategy for each of the binary option types, eventually it should be clear for you how to trade for each type.
Choose binary option broker
In order to become a successful trader, it’s also important to put your money on a trusted and reliable broker, no need to mention here, but there are some brokers that make it difficult to cashout earnings , Here is a list we gathered for some of the best brokers we recommend on, they are trust worthy, reliable with decent win rates for the binary options they offer
FINPARI – Finpari.com is a great platform form for trading binary options. It provides a sleek, intuitive easy to use software for making your trades. The clear layout of the trading platform makes the simplicity of binary options even simpler.
It also offers some great supplementary materials such as a strong educational center as well as live chat for you making the best trades possible.
24option is one of binary options leaders in the world. On their website you can register for free and choose numerous assets with which to trade. As a welcome offer for new registrations, you will receive a deposit bonus of 100% your first deposit.
Anyoption offers an extremely easy platform to operate and understand among online binary option platforms. This is the main reason this platform is considered one of the best options platform in today’s financial market.
Binary.com is regulated across many countries including Malta and the UK among others. It offers a sleek easy to use design which is intuitive so you won’t be distracted by bells and whistles but can focus on winning trades.
PorterFinance the firm is well-known for its cutting edge trading platform and exceptional customer support. Due to its significant growth in recent years, we decided to take a look at the company in more detail.
Last but most important:
No matter what strategy you choose or what binary option type you trade, for each and every trade you take you should calculate in advance how much you can afford to lose and what are your next trading actions for each and every scenario.
It means that you need to prepare a plan in advance and stick to it:
- Define the risk you would take while you should take in advance the number of sequential lose trades that might erase your account, as a thumb rule we recommend not to risk more than 2% of your deposit money on each and every trade
- Document all of your trades in order to control your stats and learn from mistakes
- Everytime your winnings reach upto 50% of your original deposit , cash out at least 50% of your winning money and enjoy your profits while keeping curtain amount of balance increasing
- Don’t panic when you in a lose situation and don’t try to get your money back from the market instancly it will cause to the opposite outcome, stick to your plan and limit the number of binary option trade in one day