The Indian Forex Traders do not so acquaintance with the binary option trading. You have to analysis the binary option for trading like Forex. You can able to gain profit if you follow rules, strategies, money management. Binary Option Trading is not so popular in India and Bangladesh. In the world, the journey of Binary Option Trading was started in 2008. There is a huge similarity in between the Forex and Binary option. The currency is trading in two platforms. But, the platforms are quite different. The rules are also quite different. You can do pip profit by selling currency in Forex and in Binary you can profit 70-90% by trading. It is better to trade in the regulated broker account. It will better to gain good profit by analysing. You can gain profit successively by making a good strategy and by doing trade with money management.
How to Learn more about the Binary Option Trading?
Why do we not use Binary Trading?
We are more interested in using Forex rather than Binary Option. But, in spite of losing per month, we cannot leave Forex. Because, we, the traders do not understand the binary option. Or if we understand it, then we think about the loss. But, so many experienced traders are earning huge amount of money by doing the binary trades. We get success if we follow some strategies.
There are several kinds of Binary trades:
One Touch (200% to 500% profit).
No Touch (200% to 500% profit).
60 Seconds (70% to 90% profit).
Ladder (5% to 1500%).
Boundary (70% to 90%).
Binary Option (60% to 70% profit).
There are so many trading depending on brokers.
What should we use to become a successful Binary trader?
- You have to keep a huge knowledge on Forex market.
- You have to keep a huge knowledge about Micro and Macro Economy.
- You have to know the Pivot point, Range trading, Fibonacci and the price action.
- You have to make some strategies and you have to judge the efficiency of the demo.
- You have to follow the money management and risk management like Forex.
- It is better not to take more than 1 part among the 30 parts of the main balance.
- You have to keep refrain from suspected trades except analysis.
- You have to find out a reliable broker for getting binary option.
- You do not give any trade impulsively.
- You have to keep refrain from doing over trade.
When should not trade the Binary Option?
In the market, you do not understand that will the price rise or will fall the price. And, if you practice regularly, then you will get the perfect time to do so many trades. But, in the meantime, you should avoid it. In many times, you may face a huge amount of loss.
- During the time of publishing Fundamental News:
You should not do binary trade before or after publishing the news. Because, your target is to gain a profit in a definite time. If you profit 1 pipets, then you will win. But, the possibility of losing is huge in large market volatility. So, during the time of news, you should not do binary trade.
2. You should not do Binary trade in a CHF payer:
Not only we the traders, but also the binary brokers also do not give the trade in CHF pair. Some brokers also give the opportunity to do the trading in CHF pair. Although, the brokers will give the opportunity, but you should refrain from the trading in CHF pair.
3. Yen Cross Pair:
We think that the Yen Cross pair is GBP/JPY, EUR/JPY, CAD/JPY ETC. It will be better not to trade these kinds of pairs. These pairs up and down a lot. So, in all trades, the possibility of getting the profit is very low.
Next, I will discuss about when the binary option trading is convenient?
Next, I will discuss about the all options of binary option trading.