You, the binaryoptionswire.com readers, have the tendency to surprise us with ingenious, out-of-the-box binary options Trading Tips and Strategies. And we love it! So we thought we'd put your collective wisdom in one place. The following is just one of them that left as comments on our site.
Been trading binary option for some time, and did get the bonuses that the manager promises. But all my gain was lost when I lose my cool or getting greedy.
Now the insights I have gained throughout the months manage to help me gain consistent profit.
Here are some tips and mindset you need to be successful in binary option.
1) Aim for 10% profit per day. (200-300% profit is possible, but it means you trade longer and higher bid amount, so the chances of losing is so much higher. (With 10 % daily compound profit, in three months time, a deposit of $250 can become 10k) to gain 10% it’s so much easier and takes not more than 3 trade .
2) Have a “stop” trading amount in mind. example” I’ll stop if reach 10% profit or stop when lost till balance reach $_____….”
3) Trade only in 30 min and 1hr duration option. 1 min option is very tempting but that’s where the highest lost happens
4) Wait – aim for the peak or bottom before bidding you need to know the highest and lowest point of the trade for the day. When its near the top or bottom, you can bid with more confidence. Avoid bidding when it’s at the middle.
5) Look for guiding point – When Bidding at 1hr option, follow the trend of 2hr graph. Using 1 min graph as signal for “to wait” or “bid.”
example – 2hr graph show down trend, before you bid look at 1 min graph, if it’s down , Bid , if its uptrend , wait. Once it starts the down trend, bid on the 1 hr option.
6) Only deposit the min amount that you are comfortable with. Ignored the broker’s threat or bonus bait. Set an amount – example – deposited $250 per month, when start making profit withdraw some profit per month also. But always leave some money for trading. The initial aim is to withdraw all the money you have deposited throughout the whole process.
Some of the points mention might be too technical, hope it helps.
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.