The Simple Steps of Trading
We have found there to be several main companies which are easy to begin trading binary options: iOption, Banc De Binary and TraderXP. Getting started with binary options trading is an exciting prospect: all you have to do is follow the simple steps below:
- Select the Underlying Asset: Deposit funds into your trading account and choose a stock, commodity, index or currency pair. It is best to trade with a volatile, highly traded asset, such as Google.
- Choose Call or Put: Select Call if you expect the option to expire above the current price (strike price) at the expiry time. Alternatively, select Put if you think the option will expire below the current level at the expiry time. In this case we will select Call.
- Select an Investment Amount: Type the amount of money you would like to invest in the chosen binary option. We will invest $500 in this option.
- Choose the Expiry Time: Now you will need to select the expiry time. You have a great choice to choose from: 15 minutes, 30 minutes, 1 hour, daily, weekly, etc. Therefore, make sure you have a good idea of which direction (higher or lower) the chosen stock is going by the chosen expiry time. We will pick 1 hour.
- Follow Your Trade Until Expiry: Tracking your trade throughout the option’s life is recommended. At expiry, if you win (in-the-money), then good for you! If you lose (out-of-the-money), do more market research about binary options and contact your personal account manager about advice to become a binary options success! In this example, the binary option expired in the money…!