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Trading with Binary Options
What will it mean to be “trading binary options”? trading binary options is all concerning having the ability to predict an overseas currency/price-development within a given time frame. It could, as an example, be the flexibility to predict whether the dollar is going to rise or fall among ensuing sixty seconds or among ensuing 5 minutes as compared against another trading currency online. It’s that easy.
You can trade with binary options in currencies, shares, commodities (gold, silver etc.) as well as indexes. This book focuses on trading currency with binary options. The key principles are the same no matter which binary options you choose for your online trading.
This site is intended for the average person who is looking for an extra income on the side of an ordinary job. Are you going to become so skilled at learn trading with binary options that you can turn it into a fulltime job as a trader? Well, time will show. However, why not?
Unless you are a natural talent, it requires plenty of time and practice to become good at anything. The same goes for trading binary options on the Internet. If you want to be good, keep practicing.
You can compare learn trading with binary options to that of learning to drive a car. EVERYBODY can learn it.
Let me give you an example of the gain that is possible from learn trading in binary options on the Internet.
Most serious online trading houses demands a minimum initial deposit between USD $200 and 250.
In the example below, you have deposited USD $200. We assume that you will spend seven to ten hours a week in trading with binary options, and that you never put down more than 5% of your total capital per trade. USD $10 per trade = 5% of USD $200. Ok? (To use maximum 5% of your total capital per trade is called “money management”).
To start with, you have to learn how to get it right at least 7 (70%) out of 10 trades. Or, to get it right in 35 out of 50 trades (still 70%).
You are probably familiar with the old proverb that “many a little makes a mickle”. This is true for online trading in binary options! Let me show you how:
If you start with a deposit of USD $200; and you are engaging in online trading approximately 10 hours of trading per week = 50 hours per month, which doubles to USD $400. You now have USD $400 on your account and growing in 12 months (this assumes that you do not take out cash during the 12 months).
After 12 months of trading, where every month you double your total capital, you will have USD $409,600 in your account. Yes! You are reading that correctly, USD$ 409,600.
You are doubling your account capital every month while only investing a maximum of 5% of your total capital per trade/deposit. After the first month, you have USD$ 400 on the account. 5% of USD $400 becomes USD $20 per trade. After the second month, you will have USD $800 on the site account. 5% of USD$ 800 now becomes USD $40 per trade, and so on.
Remember, you are trading with a maximum of 5% of the total capital on your account, no less no more.
If we continue the calculation. You have spent 50 hours a month online trading binary options. We multiply those hours with 12 months, resulting in a total of 600 hours.
USD$ 409,600: 600 hours = $682.66 per hour. Not a bad hourly wage I would say. Get out your calculator and do the calculation again.
The Right Timing
The right timing is one of those key terms and precisely what this book will teach you. How you can turn the odds to your advantage so that you can win. When is it time to, and when it is not the time, to enter into a trade.
The difference between a loser and a winner in binary options trading is that the loser is focusing on how many trades he or she is winning, whereas the winner will be focusing on how he or she can diminish and avoid a loss. By focusing on how you diminish/avoid a loss, the gain will appear.
Everyone with no exception can learn to use the necessary and right tools and indicators to their own advantage and become a winner in the binary options market.
In order to get it right in 7-8 (70-80%) of 10 trades (which is necessary in order to obtain a reasonable return on the investment), you need a certain amount of knowledge and information on the different markets that trade in binary options.
Most Important Points
1. Trading with binary options can be extremely risky and you can lose a lot of money if you do not have full control over your actions.
2. Everyone can learn to trade with binary options.
3. Discipline,patience,concentration,timingand common sense are key to becoming a skilled trader in binary options.
4. Choose a recognized broker who offers trades as low as USD$ 5-10 per trade and offers a training account.
5. Gain as much experience and insight in online trading with binary options as possible before starting out trading with your hard-earned savings. Practice makes perfect.
Trading Currency Online
Trading currency online, commonly referred to as “Forex trading” or simply “FX trading” is the largest international financial market with a daily sale of 4 to 5 trillion – a lot of zeroes, and an enormous amount.
The world’s biggest stock exchange, the New York Stock Exchange (NYSE) has “only” a daily online trading value of 20 to 25 billion. The second largest exchange is the Tokyo Stock Exchange with a daily online trading value of 15 to 20 billion, and the third largest stock exchange, the London Stock Exchange, sees trading for 7-9 billion a day.
The forex trading market is open 24 hours a day, 5 days a week, which means that you can trade in binary options whenever it suits you. If you are a night owl, you can trade at night, when the market is typically more stable, which can be an advantage. More about this in lesson 5.
Trading currency online – from here and on I will be using the term Forex trading or just FX. At some point, you have to get used to the terminology that is common in trading currency online and trading currency with binary options.