Successful binary trading takes several large steps, and one of the first ones is finding a good and reliable binary broker. With the increasing popularity of this trading method, finding a broker is not that difficult. However, after a while things can change, and the same broker may not be suitable for you anymore, for numerous reasons.
There are several signs that point to the legit broker. First, it is licensed by CySEC or other financial authority. Then, they offer realistic conditions, high payouts and many deposit and withdrawal methods through trusted sources. They have a large number of trading assets and a fast and responsive trading platform. Lastly, if the broker has the contact information on their website and good Customer Service, it is also one of the indicators that it is reliable.
Supposing you have chosen a legit broker and traded successfully for some time, there are still some changes that may affect you negatively. These changes can happen regardless of the broker’s legal status and credibility. Simply, their policy, terms and conditions change so they suit them better, but they may not be suitable for you. When you notice some changes, you may consider registering with another broker.
This is the first sign that the broker is undergoing the changes you may not find suitable. They usually know how to mask them and make them seem insignificant, and some time may pass before you even notice that the payout percentage decreased. This is why it is recommended to have a trading diary and add an entry whenever you execute a trade. Calculate the amount of money you invest and the one you earn and turn it into percents. If it does not fit the payout percentage promised by the broke, it is time to look for another one.
Trading diary can help you spot the difference in earning as well. If are a serious trader, you have a trading strategy and always execute the trades under similar conditions. Once again, you are required to calculate your earnings. You can calculate the amount of money invested and earned over a month and compare it to the trading results achieved earlier. If the differences are significant, this is a sign that you need to change binary broker, because the payouts became lower.
Some binary brokers, like Banc de Binary, offer hundreds of different assets for trade, in four categories: commodities, stocks, indices and currency pairs. Most brokers keep updating their list of assets on regular basis, to provide trading opportunities for various brokers and to attract new users.
If you have a trading strategy, it can be applied to a limited number of assets, since the changes in the market are not the same for all of them. If the broker stops offering the type of asset you trade, it is time to look for another broker. Applying the strategy you used on one asset for a long time onto new assets may result in the loss of money. This is why you need to look for a broker that offers the asset you are particularly skillful in trading.
Binary trading is simple, easy to learn and it sounds fun and easy. However, to make it fun and easy and gain profit as well, you need to invest in your knowledge and trading skills. One of the essential skills for successful trading is evaluating the trends in the market. Your trading decisions need to be based on the changes and situation in the market, and this is why it is important to learn how to evaluate them properly.
Binary trading is not a game, and every decision should be based on reason. You need to carefully examine and follow the changes and trends in the market, and more importantly – you need to know how to do it to make it relevant. Before you become skillful in market analysis, you can use Brit Method or other trading robot. They base the automated trading on market trends, so you can learn the basics of the market analysis and follow the results of the robot at the same time.
When you base your trading decisions on emotions or lucky guessing, there is no chance of succeeding. Naturally, you may end a few trades in the money, but this kind of trading is dangerous and unsuccessful in the long run. On the other hand, if you analyze the market and observe trends, you are likely to make correct predictions and automatically end more trades in the money. This means that your overall trading success will be much higher, and you will be able to earn more. Also, you will gain useful knowledge you can later apply in other types of trading as well.
Evaluating the trends in the market may not be an easy task if you have no trading experience whatsoever. However, with some learning and getting informed, you too can become successful in market analysis and trading.
First of all, before you start evaluating the trends, you need to know that they need to be observed in real time. In order to make it this way, there are two factors to take into consideration: significance of the market movements and the majority of the movements.
Paying attention to significance means that you need to determine whether the movement you notice is significant for the trend or not. Some movements in the market mean that a major change will arise, while the others are insignificant. As a new trader, you may find it difficult to distinguish between relevant and irrelevant movements. You should choose the minimum percentage of movement of a single bar for the movement to be considered relevant. Generally speaking, if the time frame of your trade is shorter, the percentage is smaller, and vice versa.
Majority refers to the number of bars that undergo changes over a certain period of time. Here, again, you need to determine the number of bars that need to undergo changes to consider them relevant for the trend.
Determining the trends may not be easy at the beginning, since you need to discover and establish the formulas. Therefore, before you are certain of your strategy, practice the formulas you create on free demo accounts or with small investments.
Binary trading gathers more and less experienced traders from all over the globe. It is placed on online trading platforms, and everything related with it, from finding a broker to withdrawing the earnings, happens on the Internet. Placing the deposit is the first step when you register with the broker, and before you begin trading. Online binary brokers offer plenty of different trading methods, and in this article we will present and discuss them.
Different binary brokers have different payment methods available. However, there are some methods in common for all of them, such as credit and debit cards. The general rule is that the more deposit options are there, the better. Binary signals and robots also use the same deposit methods as the brokers, and there is always an opportunity to pay by a card. Click here to learn, which binary signals and robots use the same deposit.
Let us start with the deposit method in common to all binary brokers – credit and debit cards. Regardless of the broker you chose for your trading, you will have the opportunity to use credit or debit card to place the funds. Also, you can use the same card to withdraw the earnings. All binary brokers accept widely used cards like Visa or Master Card. Some brokers accept cards of other companies as well, even those less popular ones. However, if you have such card, you will need to check whether your broker accepts it. Placing the deposit by credit and debit cards is convenient because it is fast and without delay. Also, there is usually no limit on the amount of money you can deposit, but it depends on the type of the card.
Another common deposit method is through e-wallets. These are payment methods where you place the money into virtual wallet, and then deposit it onto broker’s website from there. One of the widely known such e-wallets is PayPal, so you are probably familiar with the concept. However, very few brokers accept PayPal as a deposit method. The reason for this probably is probably limitations PayPal poses on the sums of money which can be deposited.
Despite not accepting PayPal, online brokers do accept many other kinds of e-wallets, such as Skrill, CashU, WebMoney etc. You can create an account with some of these e-wallets and use it for binary trading just like you would use PayPal.
Having various deposit options is good for several reasons, some being more and some less obvious. First f all, it is more convenient for the traders to be able to choose the method of depositing money onto their accounts. This way everyone can choose the method they find the most suitable and which is the easiest for them. It is also good for the brokers, because this way they can attract more traders.
Another advantage is that the broker with more deposit options is more likely to be legit. In other words, when you see that the broker offers many reliable and legal payment methods, it tells you that it is serious and legal, and you are not likely to get scammed.
Binary trading is simple, straightforward and rather appealing method of trading for both new and experienced traders. However, when you start trading, you will see that it is not all about making the correct guess based on luck or “inner feeling”. It requires lots f learning, patience and getting informed, as well as developing a trading strategy and managing your finance.
There are many trading strategies for binary trading. Some of them are already established and applied by many traders, such as Knock-on Effect, Doubling Up or the Straddle. They are based on certain principles which are applied when you execute your trades. Some platforms even offer the option for using Double Up strategy while you trade.
On the other hand, there are also many strategies which are not officially recognized. They are the variations of the familiar ones, or even completely new strategies invented by various traders. Every individual is different, so many traders create their own strategies which suit them best and help them in trading.
No matter what type of strategy you decide to implement or create on your own, they all have two components in common, as the center of all other principles. These components are discipline and risk taking.
Discipline is the first key component of successful binary trading. It involves, above all, taking yourself and the trading seriously. This means that you should take binary options as trading method, and not as online gambling. Therefore, do not allow yourself do make decisions based on emotions and pure luck. To remove all emotional influence from trading, you can use Top 10 Binary Demo or any other trading robot, which will do the trading on your behalf and based only on market trends.
Discipline also involves developing tactics and implementing a certain trading strategy. It is up to you whether you will use an already known strategy or develop you own. You need to stick to it, but do not be too strict – feel free to modify and change it if it does not give the expected results.
It is also advised to limit the trading and know when to stop. Determine the number of wins or losses you will allow yourself during a day, the number of overall trades or the number of hours you will spend trading, in order not to overdo it and lose control.
Risk taking is another component of successful trading. Different strategies involve different amount of risk, and it is up to you to determine how much you are willing to risk. Some binary traders prefer smaller number of trades with high risk, believing that the only way to make a lot of money is to invest a lot of money.
On the other hand, many traders tend to minimize the risk. This can be done in several ways, and one of the essential ones is by diversifying the assets. This means that you should have more trades with different assets and smaller sums of money rather than trading one asset and investing huge funds. This way you minimize the risk of losing all your money in one trade and the earning will be slightly slower, but more certain.
Binary trading strategies are essential for successful binary trading. In addition to analyzing the market and following its fluctuations, staying informed about the current trends and educated about trading, using a proper strategy is one of the keys to making profit.
Binary trading strategies are, as the name says, strategies you use when trading binary options. Each of them is based on a set of principles which are applied when you trade. They are used to maximize the profits, but also to stay focused and disciplined while trading.
Every binary trader can develop a strategy of his own, which will suit his trading style and preferences. However, this is not recommended if you are still new to trading and still do not understand all the concepts. In such case, there are several trading strategies which are already established. New binary traders adopt their principles when they start trading, but many of them also keep using them later instead of inventing new ones. One of them is Doubling Up strategy, and we will write some more about it below.
Doubling Up strategy is used among many binary traders. Many platforms offer the option to use this strategy while trading by giving you a chance to double up your investment and thus double the earnings as well.
The principle of Double Up strategy is to call or put an option and set a time frame of the trade. Five to Ten minutes before the option expires, on some platforms you can choose to “double up” your investment. This way, an amount of money invested in an option will double, and if you win the trade, you will earn twice the money you initially would.
This strategy requires you to monitor the conditions in the market when you buy or sell an option, because this way you will be able to see the fluctuations and the movement of the asset. This will tell you whether it is safe or not to double up. This is why Doubling Up is not suitable for absolute beginners, since they may still not be skillful in monitoring the market and its changes.
In the cases of high market volatility and unpredictable changes, it is better not to double up. However, when the market is stable ad follows a certain trend over a period of time, doubling up can help you earn more.
The main advantage of this strategy is that it can double your earnings in just one trade. If you monitor the market and rely on the conclusions you draw from the analysis, you can successfully use this strategy.
Then, it can help you learn how to monitor the market, analyze the change and separate the important from the unimportant. These skills are necessary if you use Double Up strategy, but you can also find them useful for many other strategies and trading situations.
Last, but not least, you can use this strategy with some trading robots, like http://top10binaryapps.com/ or some others. They base the predictions on market conditions, so some of you allow you to double up the trades.