So many people go online to search for How to be successful trading Binary options, the quickest method to make money online or make money online without investments. These are common searches online. How to Make Money Trading Binary Options have been considered one of the easiest methods which are setting many people up for a living. In this article, I will be very straight forward to showing you how you can make a lot of fortunes trading binary options.
What are Binary Options?
I will try as much as possible to explain How to Make Money Trading Binary Options is a very simple way. Binary option is a part of the forex that deals with predicting where the direction of a market based on a timeframe of the contract. Whether the market is going up or down. Unlike forex which requires you to watch and wait. Binary option is not like that. What happens in Binary option is that you are to click up or down, this means that if you think the price of the trade will end below where you entered. This means you will click down but if you think the price will end above where you entered that means you will have to click up.
So if the trade ends just the way you predicted that means you have won and your money will be added instantly to your account and ready to be withdrawn. But if the market goes against your prediction then you have lost the trade. Learn how not to lose with Binary options. Below is a simple video that shows how it works
What is the difference between forex and binary options?
- Time frame: when you enter a trade in forex, that trade can run for years if your money has not finished and the trade has not gone against you. This means you can enter a trade in forex and leave it there for years and it will still be running. But in Binary options, you will have to choose a particular timeframe that you want your trade to expire. This time frame ranges from 1minute to months. So if you choose your expiry timeframe and click up or down you are saying the market will end up or down after that particular timeframe is completed.
- Stop trade: In forex, you can stop your trade at any time but in Binary options, you cannot except your time has elapsed. However, there are exceptions to this as Nadex.com has the option of exiting your trade at any time.
- Percentage payout: In forex, profit is calculated in pips while in Binary option, a specific percentage is allocated to each trade and this is account to your trade input amount.
Simple terms to note when trading Binary Options
Some of the terms I will be discussing below vary from platform to platform but they all mean the same thing. It now depends on the platform you may decide to trade with when you decide to start practicing. Please pay attention to the following terms as they will help you understand this more.
Entry Point: As the name is, this is the point where you enter your trade. It is that point where you click either up or down. This can also be called Entry Price.
Expiry Point: this is the point where your trade will end. Remember where your time expires in a given trade is your expiry point. So if you choose for example 3minutes and when the 3minutes ends that means your trade has ended.
Call: this means up. Anywhere you see the word or a button “Call”, it means up, so if you are to predict that the market will be above your entry price then you will have to click Call Button.
Put: this means down. This is the direct opposite of Call. Anywhere you see the word put in forex or Binary option, it means to go down.
Buy: This is the same thing as up
Sell: This is the same thing as down
Bid: this is the same thing as up
Ask: this is the same thing as down
Do you Want to Know How to be Successful Trading Binary Options?
The first thing you would have to do is to open an account here. After registering as I would suggest you remain on Demo account yet. This will enable you to practice and be sure before upgrading your account from a demo account to a real account.
While practicing, how to Make Money Trading Binary Options ?? This is very simple by just clicking up and down. In this article, I have included below a template on money management,
This is, in fact, a very simple way on how to make money from home. This means you can make money as a single mum or as a Housewife without going out of the house. With this, you can make money as a student without stress. This is another way to make money with your mobile phone.
This can be done even with your android phone. It is also a way of making passive income online. This is not a get rich quick scheme but there are 7 Principles that you can apply to this that can get you rich. As for me, I trade only one hour daily which is every 9 pm GMT, and my target is to make 10% daily of my capital and this has been a blessed journey so far. With this, you can. I also have a channel for trainees that am couching on telegram. You can join us by Clicking here.