Trading can be used as a way to increase your income or earn extra money online as well as a full time job. The are professionals traders making more than 10,000$ using few hours. But note they are professionals meaning they have acquired more experience than you. So just investing your hard earn money is kind of risky. So it's better to use extra money made from online plateform if you are not sure or better still stick to a demo account testing different strategies. The are full courses and also many professional strategies on youtube which means the are many content and material that are avialable for you to learn.
The are many professional traders you can follow to gain understanding and you can test and select a few strategy that suits you because strategy working for some one else may not work for you. Make sure to avoid scammers leaving fake comments under videos like " i have a trader that i invested my money and got a return of urge profit he is a professional................". Given your money to stranger is at your own risk.
Dont forget to read the complete post.
What is binary trading and how does it work?
A binary option is a type of option with a fixed payout in which you predict the outcome from two possible results. If your prediction is correct, you receive the agreed payout. If not, you lose your initial stake, and nothing more. It's called 'binary' because there can be only two outcomes – win or lose.Binary.com gives everyone an easy way to participate in the financial markets. Trade with as little as $1 USD on major currencies, stock indices, .....
OR
Trading is buying and selling other types of currency and securities, like stocks. EUR/USD (euro/U.S. dollar) or JPY/GBP (Japanese yen/British pound).That is you sell one currency and buy another.
These all depends on your skills analysis and strategy you use. AS the earning potential is urge so is the loss without a good knoweledge how trading market work you will end up losing money.
The are trader capable of turning 1$ to 5000$ or 100$ to 12000$ within 40 minute and also on the other hand trader turning 1000$ to 0.0$ within 20 minute losing their investment. Luckly you can stick with a Demo account which is thesame as are real account but the only difference is you would be using artificial money provided by the company. the main purpose is for practice. These would permite you to improve your skills, strategy and understanding until you are sure and confident you wont be wasting your money for nothing.
The is binary trading and forex trading. Forex trading is more volatile, requires greater time for research and trade monitoring and allows leveraged trading. Binary options allows you to speculate on multiple financial markets with a straightforward product where costs and risks are clear from the outset.
The plateform support both forex and binary option so is up to you to research about it. Iq option minimum deposite is 10$ with several payment methods. The is risk involved as well as benefit of trading .The several form to analyse the market but the most used is candle stick.
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CANDLE STICK TIME AND PURCHASE EXPIRY TIME.
The are different CANDLE STICK time period you can choose for a candle stick from 5second, 15sec, 1minute, 2min, 5minutes to hours or days. The time you choose for a candle stick would infleunce your trading strategy these is because if you select a time period as 1 minute each candle will represent one minute same as if you select candle stick for 30second each candle stick will represent 30 second .
The picture below show different time period of candle stick.
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The purchase expiry time ranges from second to minutes and hours .These is simply the time you select that your trade would close either above or below the selected line you enter a trade.
Let say you selected candle stick time frame of 2minutes which means each candle stick represent 2 minutes and after your analysis and indicators shows you that the market would go up then you enter a trade with a purchase expiry time of one minute, if your purchase time expires and your candle stick is above the selected line you win the trade and if it fallS at the exact line after the trade closes your money will be refunded else if it falls below the line then you lose the trade.
SIGN UP ON IQ OPTION AND WATCH BEGINER VIDEOS TO UNDERSTAN .iq option sign up page
Tools and indicators.
The are several types of tools or indicators used on binary trading to improve your chances of decision making put finding the correct tools and strategy that one can understand and favour your trading style is the problem.
These are few popular indicator but may not be the best according to your trading style. further research and testing is required before understanding these indicators youtube recomended.
- Stochastic oscillator.
- Macd
- Kelterner channel
- BOLLINGER BAND
- Fractal
- Zig-zag
- Rsi
- moving average (50, 100, 200)
The are binary strategies that combines two or more indicators that are recommended and tested by binary traders but these does not mean it is 100% strategy. All of strategies have a downside and identifying it when placing trades is one of the biggest problem. Traders who are familiar with some strategies can turn 4$ to 5000$ within 20 minute which may seem easy so it is recommended to do adequate testing with a demo account.
i will post some youtube strategies at the end of post that are online and you may also follow or sign up if you interested.These doesnt mean they are the best as the are numerous binary trader online.
stochastic oscillator show if the market is in a strong trend but most traders used it to determine if the market is in over bought or over sold condition.
Terms you Must know and their meaning.
- Support and Resistance.
- Market Trend.
- Candle stick patern or signals
1) Support and Resistance.
Support and resistance are used by traders to refer to price levels on charts that prevent the price of an asset from getting pushed in a certain direction.
support and resistance these is a must know trading technique in binary option and other trading market so i recommend watching video and trying for yourself in order to understand. video example is the best option to understand.
2) Market Trend.
These simply reffers to the direction where the market is moving, and so far the are three that i know that is uptrend, down trend and ranging trend. Understanding the market trend is very important.
Uptrend....... . simply means the market price is constantly moving upward over long period of time.
Downtrend ........ simply means the market is continously going downward over a long period of time.
Ranging trend ............... A Ranging Market a market where the price is moving back and forth between a higher price and a lower price. It is commonly referred to as range bound, choppy, sideways or flat market.
3) Candle stick patern or signals
These are candle stick formation that can give you some insight whether the market will rise or fall youtube videos recommended
Follow these step to improve your understanding about binary option.
1) Sign up on iq option The plateform has ready made beginners videos to get you going .
YOUTUBE VIDEOS BINARY OPTION STRATEGIES.
The are several binary traders posting several strategies every day on youtube .These one of the popular binary option strategy.
keltner channel stochastic indicator strategy
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