There are three crucial steps that you need to be aware of in order to know how to trade binary options like a pro!
Step 1: What is your position?
First, you need to set the parameters of your trade. Here’s what you need to consider:
- Type of binary options trade
- Duration of the contract
- Asset that you would like to trade
- Risk that you are willing to take (financially)
Choose the underlying market
- Currencies – trade all major FX pairs.
- Stock Indices – trade all major worldwide stock indices.
- Commodities – trade major commodities such as gold and oil.
- Random Indices – trade Binary.com’s propietary random indices.
Choose the duration
- You can set the length of your trade, from 10 seconds to 365 days.
- But there’s no need to wait until expiry. You can sell back long-term trades at any time to profit from changing market conditions.
Choose the barrier(s)
- The barrier(s) you choose defines your position and triggers your payout.
- You set the barrier(s) to define your position.
Choose the payout
- Each binary trade is for a pre-determined payout amount. You win the payout if your prediction is correct.
- You can choose payouts from $1 to $100,000. This wide payout range is ideal for both small and large traders.