Experienced traders understand that making the first $ 10,000 in binary options on 7option is easy if you follow risk management and use strategies proven by thousands of users.
What are binary options and how does 7option work?
Trades are short-term contracts when the point of entry into the trade, the forecast for price rise or fall, as well as the exact time and date of expiration are known. Simply put – you just need to indicate the direction of price movement up or down. There is no need to count the number of pips and calculate the moment to exit the market.
How to start binary options online trading?
Experts recommend using the binary options free demo to get familiar with the functionality. This will make the Online Platform an understandable place for you to open transactions on any trading pairs or assets. Not all brokers offer as wide a range of trading instruments as 7option.
We are talking about options for commodities, indices, futures, popular stocks, and currency pairs, which charts are fully consistent with the Forex market. The big advantage is that the lowest risk of slippage (squeeze) of orders, which are often found in \volatile markets, is eliminated.
Experts recommend replenishing the balance and starting trading after practice, without investing more than $ 50-100 in the transaction at first. Remember risk management in order to properly allocate your funds.
What is Strategy based on?
Binary options trading begins with the selection of key factors. You have already found a reliable 7option broker. Now you need to choose the right type of binary asset, services with information about it, the correct rate, and a potential exit plan. You shouldn’t enter a trade without an exit plan. That is why experienced traders open several transactions at once with different forecasts in order to close negative forecasts in time and take profit from successful ones. After identifying these important factors, you can choose several ways to trade.
First. Trend trading
This is the most popular answer to the question “What is a binary options strategy?”. After all, the vast majority of traders are trading in an uptrend or a downtrend. Playing against the market is the worst decision. If you do not believe in the continuation of the trend, choose another asset or even stay out of the market. You can enter the transaction only after confirmation of the continuation of the trend growth or fall.
Second. Call/put options trading.
A call is profitable if the asset price is higher than the execution level for a certain period of time. Put is profitable after the price of the asset is below this level. Experienced traders do not recommend newbies to use one-touch binary options, which are more profitable but extremely risky. Indeed, you need to accurately indicate the level that the price will reach within a certain trend.
Third. News trading.
Trading binary options require monitoring news from different areas of the economy. So you can understand how good the time is to enter the market. If the country’s economy is in for a recession, there is no way to trade its national currency with a forecast of price growth. Traders use the important rule “Buy on rumors – sell on news”. After all, when news comes out, you need to sell an asset on growth. These are the moments that you need to catch when trading binary options.
Fourth. Fibonacci trading.
Choosing this binary options system, you can divide the chart into specific levels using the Fibonacci grid. Support and resistance levels will help you to enter a trade correctly.
Fifth. 60-second binary options.
When you have downloaded the binary options free demo, you can test your strategy for entering a short-term trade. You will see that the profit can be received in 1 minute! The Mobile version is enough for this. Opening transactions is easy. It is 1-minute trades that bring the greatest profit to 80% of traders who already know how to binary options trading.
You can choose smaller trades, but only if it is a highly volatile market. More conservative traders choose a longer time frame. Time and the selected asset will show the correctness of the decision.
Both citizens of Uzbekistan and the United States can trade binary options. You need to register to start trading today. Are you ready for profitable trading? Its time to start!