- how to trade binary options
HOW TO BECOME A SUCCESSFUL BINARY OPTIONS TRADER
Binary options trading is the newest most exciting way to trade global markets. Binary options promise great profits and an easy to learn, simple way to make money in the comfort of your own home without leaving your desk.
As a first timer you will need to prepare a few things to make sure you have an easy and successful start to your new trading career.
First, you must choose a platform to trade. Most platforms offer between 20-50 assets for you to trade, TradeRushTM offers a whopping 74 asset list for you to choose from including 12 assts available on the 60-seconds-options. With TradeRushTM you can choose between stocks, currencies, commodities and indices from all over the world.
The big advantage in having so many assets to choose from is being able to be picky in regards to the assets you want to trade. To start, I would recommend making a list of ten assets that catch your eye and you think you would be interested to read more about.
Once you select ten assets, you will need to check on which
hours these assets are being traded on the platform and make a short Google
search to get an idea on how volatile the asset is what factors influence its
On TradeRushTM you can trade almost 24/7 including Sundays, you can check the exact trading time for each asset on our asset index in the main page.
The next step will be to narrow that list of 10 assets to
3-4 assets you want to focus on. I would
recommend choosing an asset that is being traded at the same times you are
available to trade as well as assets that have a lot of volatility. For first
timers I would recommend choosing commodities and stocks which are easier both
to follow and trade. The reason is that
although currencies are highly volatile and popular, it is more difficult to
keep track and learn the factors that influence different currencies. Below
is a sample of a 15 minute gold chart which shows relatively high volatility. A binary options trader would have made money
on any consecutive same-colored candlesticks.
Above: Example of Gold Volatility – Each candlestick represents 15 minutes. An asset which is not volatile would have a flatter curve as compared to the displayed gold chart.
Now that we have chosen our favorite assets we need to gather as much information as we can on each asset; when is it traded? Which governments have a hand in its price? When are important announcement released? We want to be able to hear the news and relate it to movement of our asset in real-time.
The second stage of successful day-trading is to choose your investment amount wisely and have proper money management. Although minimum deposits in TradeRushTM is only $100 it is recommended that your total investment allow you to execute between 50 to 100 trades, with no more than 5% of total your balance at a time. For this reason it’s recommend that your first investment to be at least $500 which gives you a minimum of 20 trades at $25 per trade.
One of the most important aspects of day trading is being able to mentally handle unsuccessful trades and allowing oneself a margin of error. When you make a small deposit, you can be setting yourself out for failure, since even seasoned traders have unsuccessful runs and it is a part of trading, therefore, refunding your account more than a few times can be very demoralizing and disrupt the flow of trading.
Once you start trading you can create yourself pit stops
where you would analyze what you have done so far and where you need to improve
the way you conduct your trades. Of
course, you can always call your account manager at TradeRushTM and get a solid
analysis of your trades and where you could improve your strategies and trading
Analysis by Senior TradeRushTM account executive Adam Levi
- Sydney, Australia61-28-488-3123
- Wellington, New Zealand64-4-831-8605
- North America Toll-Free1-800-986-6318
- Canada - Quebec1-581-700-0149
- Binary Options
- One Touch
- 60 Seconds
Select an asset to trade.
Click "CALL" if the price will rise above the current rate at the expiry, or click "PUT" if the price will fall below the current rate at the time the option expires.
Enter the investment amount.