I am so thrilled at my binary options trading success story that I really want to share my experience with the world! Managing to earn an extra income every week with the minimum time and effort possible is surely the dream of many people and it was mine too. For years I was trying out all the different ways to make extra money that I was coming across only to soon find out that they all were excessively time- consuming and resulted in very little profit or none at all. Now however, I am proud and happy to be making about £1000 a week in just a few hours, from the comfort of my home or even on my smartphone while commuting from work. The extra income is enough to have changed my life and mean a huge improvement to the lifestyle that I always wanted to provide to my family and myself.
But, let me take things from the beginning: I am Martin and have an average white collar position that brings in a steady, yet somewhat mediocre paycheck at home. When my wife announced she was having twins, my whole world collapsed and I was desperate at the prospect of her staying at home to be with the babies, while I had to figure a way to provide for the four of us!
Discussing my fears and desperation I was grateful when a colleague at work opened my eyes and introduced me to the world of binary options trading. At first I was skeptical, thinking it would be another attempt to earn some cash that would fail dismally, but a few days down the line I was confident that my encounter with binary options trading would prove a real life-saver and a life-changer, allowing me not only to earn extra income but do so while still having enough time to dedicate to my loved ones and enjoy my fishing and gardening hobbies.
Want to know more about how I made it and if it can work for you too? Well, if I could make it with binary options then I am almost certain that everyone can. The beauty of binary options trading is that it is really simple, both to understand how it works and how trades are placed. In my case I had zero knowledge about financial markets and technical jargon and issues and no experience whatsoever with trading. Binary options trading proved to be the most suitable type of trading for people like me, the inexperienced, those who want a solution that is simple both to grasp and to implement and it means that anyone can trade and easily make as much as £350 a day from home.
All you really need to be able to trade, is an account with a broker, a few minutes online and obviously an internet connection, either from home, or on the go. I usually do my trading now from my mobile, while commuting back from work, to save even more time. In fact, my trading is going so well and I am even pondering leaving my day job and becoming a full-time binary options trader, since I believe I have found a strategy to follow during my trading that is simple and seems to be winning the trades most of the time.
Let me explain things a bit further to paint an even clearer picture: Naturally, when I first started trading I was very wary of the risks and did not want to jeopardize a lot of money, just in case everything went horribly wrong. Therefore, I opened an account with the minimum initial deposit amount, that was £250 and started out by only placing small trades of no more than £50 per time, until I got the hang of it all and in order to be better able to control the risk. In the beginning I was losing trades here and there, but the amounts lost were bearable and I made sure I was learning from each loss and from each mistake. In a relatively short amount of time I was able to decide on a very simple and effective trading strategy which I am now applying and which works for me on 90% of my trades. By executing binary options trades, i.e. predicting the up or down movement of the price of an asset over a specific timeframe, for a couple of hours every day, I am now earning a sizeable extra income every week that allows to live comfortably and make plans for the future.
I am sure that want to know what my winning strategy is… and I have no problem to reveal it as I think that is pretty simple and straightforward for everyone to understand and put into practice. What is great about the strategy I follow is that it does not require or pre-suppose real knowledge of markets or assets, nor closely following the news that usually affect asset prices, although all these elements may well work for other traders. In my case, I simply concentrate on trends, i.e. instead of following anything else I simply study very carefully the price charts for each tradable asset and focus on identifying specific patterns or trends in the charts that are indicative of the direction in which the price of each specific assets is going.
Over time, I have found that certain patterns repeat themselves over and over again, and being able to quickly spot them allows you to take advantage of them, since all that needs to be done to achieve profit is placing a bet on an UP or DOWN trend while it’s happening. To better illustrate this, see the three charts below, explaining what you should do in each case:
UP trend Chart
This chart clearly illustrates an UP trend, with the price of the asset in question continuing to rise upwards over the course of an hour. Once you spot such a trend you need to immediately place a call trade.
DOWN trend Chart
In this chart you can easily spot a DOWN trend, since t the price of the asset depicted here has been decreasing rapidly from around 14.00pm. Once you spot such a trend you need to immediately place a put trade.
NEUTRAL trend chart
When by looking at a chart we see that the price of an asset remains fairly static, we call this a Neutral trend. The wisest thing to do when spotting a neutral trend is to do nothing and wait for either an UP or a Down trend to appear, as in the two examples above.
In time and with experience it will become easier for you to learn to spot the trends quickly enough to be able to make the most of them and get them to generate healthy gains for your trading endeavours. It just takes a close look and good reflexes to identify the trend as fast as possible and trade according to it in a timely manner. For me this has worked wonders and it could do so for you too.
3 simple steps is all you need to start making gains through binary options trading:
1. Open an account with a trusted binary options broker
Personally, I trade with [contentblock id=boosted-broker] for many reasons. The most important is that they are an established broker with a long presence in the market and they are regulated, which gives me extra safety and confidence when trading through them. Another reason is their trading platform, which is very user-friendly, efficient, effective and intuitive and the special mobile app they have, which enables me to trade on the go and waste no time at all. I am very satisfied with my choice of broker, and would definitely recommend that you start your binary options trading by opening an account with them too.
2. Fund your account by making a deposit
To be able to place a trade you will first need to deposit funds in your trading account. Depositing funds in my trading account with [contentblock id=boosted-broker] is a very secure and straight-forward process and it can be made via credit cards (Visa, MasterCard), bank transfer or digital payment. My recommendation to all new traders is to make a low initial deposit, in the case of [contentblock id=boosted-broker] the minimum amount is £250, and place small trades each time. As you gain experience and confidence and learn to spot trends as I have explained you can up the stakes and take bigger risks by increasing the amount you deposit and the amount you trade, thus also proportionally increasing your gains and profits.
3. Place that trade
With a live, funded account, placing a binary options trade is really simple since you only need to choose the asset, the expiry time and the amount you wish to invest and then, having decided the direction you think the price is going, hit the UP (call) or DOWN (put) button. That’s all!
Binary options trading has changed my life, perhaps it can change yours too ...
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.