I have some more interesting ideas at the bottom of this post regarding how you can trade binary options for daily profits. But here are some valid reasons for trying it out.
It Only Takes a Small Bank to Trade Binary Options
You won’t really get any other decent chance at entering the stock markets with this type of minimal budget. £50 is plenty, plus bonus incentives and you can place fixed odds financial bets like a pro. OK maybe not quite like a professional but you’ll certainly be taking a step forward. What’s more is that the minimum stake to trade binary options is around £2 in the UK and winnings can be Tax Free.
It’s really easy to do
Binary trading is so easy to do. Login to your account, choose your market and hit up or down for example. This is the simplest of the options you can trade. So you just decide on which way the market is going to go. The trading screen is self-explanatory and very easy to navigate
Your account is also very easy to set up and open. There is not such a stringent check prior to opening; it is in fact not much different to opening an account at the likes of Paddy Power.
Knowing your limits
Another very useful feature of trading on binary is that you always know what you stand to win or lose before placing any bets. You can see the return value and your bet amount clearly. This means that you will not get into any financial disaster when you trade binary options. If the markets or your take goes against you all you can lose is your chosen stake.
It’s super fast
Trading on binary is like supersonic speed on many of the markets compared to other trading alternatives. You can set the time to as little as 2 minutes and be out with your profit as soon as the trade finishes. So if the idea of long term trend trading like i do is not for you; binary options may offer you a good alternative.
Not all trades on binary are set in minutes though. You can still open trades that that are longer term that expire in a week or even months.
Lots of markets to choose from
When binary options first came on the scene there were mainly only indices and currency that you could bet on. Now things are changing and more markets are being added all the time. You can trade on stocks, commodities and even the volatility index which is available 24/7
Use binary for hedging
You can also make use of binary for hedging. If you have a current spread bet position open that you feel may be about to turn against you then you can open a fixed odds bet on binary in the opposite direction so that you reduce your liability on any spread bet losses.
It’s a totally reality to be able to trade on the move with binary options. Due to the nature of the platform that binary uses, you can simply login to your account anywhere that you have 3 or 4G. Binary option trading is very user friendly.
As with all trading, take care and don’t risk more than you can afford to lose.
How to trade binary options
Here’s what the trading screen looks like on binary.com
Here’s how simple it is to place a bet using binary.com
Decide what market you want to trade. In our screenshot we are trading the forex [arrow 1].
Then decide what pair of currencies you want to trade from the drop down menu [arrow 2]
From there decide on how long you wish the trade to last using the drop down menu [arrow 9]
You then decide on your stake amount or change it to payout that you want [arrow 8]
Decide on what way you think the market is going to go? Higher [arrow 5] Lower [arrow 4]
Hit the purchase button [arrow 5]
You will then see a view button where you can watch the outcome live…
What Strategy to trade Binary Options
There is no way there is a one strategy suits all. Not in any trading.
I have been testing various strategies over the last few weeks as I get so many requests regarding day trading systems that work.
I’ve had many systems sent to me over the years. Some are just so complicated it’s ridiculous. Others are ripped of from other sellers. Some that have merit I still have.
I’m going to keep testing my own strategies for now though. Because if I find something that really works and I have faith in it, you’ll know it’s worth a try.
As far as you can go regarding a system to use, Visual ballistics is as good as any. If you are using 2 minute trades, just watch the chart. If there are higher highs over 1 minute buy higher. If there are lower lows over 1 minute buy lower. It’s miniscule trend trading. Seriously, you’ll be surprised at your win rate.
Here is another strategy that many newbies opt for…
You need to use minute charts with this strategy so try volatility index.
You first identify the trend. You then place three bets all of the same stake 10 seconds apart from one another and all on the same market.
So you place your first bet, 10 seconds later you place the second bet, 10 seconds later you place the third and final bet. Don’t fret over the 10 seconds gap in placing the trades, as close to that as possible
I have been practicing this and there is some merit to it and I did win more than I lost.
The problem is that I like to know the theory behind my trading strategies. But I don’t on this. It’s like hedging in a way. You can win all 3, win 2 and still make a profit. Or you can lose 2 and make a small loss or lose 3 for a total loss.
Really simple… but as said, have a try and see how you get on. Just use 1 or 2 quid stakes.
I’ll keep testing an hour a day and I’ll let you know my results. I had just over £50 in my binary account when I started contemplating the possibilities, so let’s see if any of these trading ideas work.