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Binary Options Tips & Strategies

Tips & Strategies

 

Binary Options are exotic instruments that trade the global financial markets. Binary option trading demands knowledge, trading skills and the right trading strategy.

Here are some tips..

1) Choose your Broker wisely

Search and review various Binary Option Brokers before making a final choice. You can find different broker reviews at 10option.com. Use this user-reviews carefully and read the terms and conditions of each different broker. Basic factors that need to be considered include parameters such is the minimum deposit, fund methods, platform, payout rate, refund rate, asset index and the variety of trading features. The Bonus policy shouldn’t be at the top of your criteria list.

 

2) Concentrate on a few Assets and Educate

Professional traders are usually specialized in a couple of financial markets. Specialization means better information and better understanding of new market developments. Traders who are focusing only on a couple of assets have an increased trading profitability potential over time. Education is very important too and improves furthermore the profit potential of each trader.

 

3) Choose the Right Trading Assets

Most binary option brokers today are offering a very extensive asset index. Trading assets may be traded in different trading hours, so a trader must choose assets that will be active when he usually trades. It is better to focus on assets that can be fully understood by you. Most advanced traders are choosing assets by using technical analysis. A distinctive pattern behavior may signal profitable trades so it is a good reason to concentrate on a particular asset. But stay updated with the latest news is even more important than technical analysis. Stay constantly updated on the assets that you have chosen.

 

4) Timing

Either you are a trader or an investor timing is everything. Timing defines the point of entry and exit in every trade. Timing in binary options trading defines also the type of expiration. Binary options are offering various expiries from 60 sec to some months. Trading at 60 sec is very difficult and it is not recommended for beginners. Timing is also referring to the current market conditions. At times when markets are driven by the news or they fluctuate very volatile for any other reason, beginners should avoid trading.

 

5) Diversificate your Trading Portfolio

Portfolio diversification is one investment rule that is valid always and everywhere. Traders that concentrate their portfolios in just a few positions, or sometimes to a single trade, usually face catastrophic results in the long-run. Risk is incorporated everywhere and you should do anything you can to avoid it. When trading binary options a general rule is -Not to put more than 10% of your portfolio in a single trade. As concerns your total market exposure, it is better no to be exposed by more than 40% at any given time.

 

6) Binary Options Strategy

A trading strategy is always needed either you are trading binary options or any other instrument. A good trading strategy must fit your character and your trading goals. For example if you can trade 2 hours per day you shouldn’t choose a strategy that requires 15 trades a day.  You can find many trading strategies using the internet. Furthermore it is also important to implement your strategy with discipline and by not get emotional with your trades. Emotions are usually lead traders to great mistakes.

 

More on OnlineForex: Forex Tips for Beginners | Fx Strategies

 

■ OnlineForex.biz (2013)

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