There are lots of way to succeed in trading binary options. Not all traders will be willing to share their secrets of success, but here at Binary Options Trading Blog, we’re happy to give you a few tips to help you get your head in the game and start making high returns on your investment. Before you start trading check out the Canuck Method, it’s aweeeome. Here are five binary option trading tips that you can’t live without:
Tip One – Pick a High Return Broker that Gives Great Bonuses
Before you even make your first trade, you’ll want to set yourself up for success. Make sure that you survey all the different binary option brokers online and find a binary option broker with a free trading platform, lots of assets and markets to choose from and a high return on your trade. ( Our recommended Binary Options Broker is Centument.)
Tip Two – Trade One Hour Options
There are lots of different types of options to trade on, one year, one month, one day and even one hour. Knowing which option to choose is all dependent on if you want to make money fast or slow. However, since it’s typically very challenging to determine how the markets will be reacting in one year, one month or even one week, make sure that you trade on a platform that allows you to buy one hour options. One hour options are not only the fastest way to make money, but they provide you with greater flexibility than other options.
Tip Three – Read the News Like a Hawk
If someone told you that you could make thousands of dollars from reading the news, you’d probably be combing the news 24 hours a day 7 days a week. Well, binary options are an apparatus for just that — people who love to read the news can make tons of money with binary option.
Why? Because people who read the news know what important events are coming up and can predict how markets will react — the basics of any good binary option trade.
Tip Four – Plan Your Trading Schedule
Let’s look at an example. In the morning you go online and start reading the financial news. You see that Apple has a new tablet reader coming out and they are going to announce the details of the new product at 3 pm that day. Since there is much anticipation about what Apple is going to say, you can go online and read reviews from experts about what Apple might be releasing.
However, you might be working too hard. If you were a more seasoned trader (or read this article) you’d know that when companies make announcements about new technology their stocks usually shoot up…
Knowing that information, would be a great indicator to get online and to schedule a binary option trade for right as the information is going live — that way you’ll be able to catch the upswing of the asset and make a high return, simply from reading the news.