Binary options trading is a great way to build up your portfolio quicker than regular investments. On top of that, with a simple interface and a variety of levels of complexity when building your option, you can adjust your strategy to your own trading level and progress at your own pace.
As a trader, I’ve tried many systems to maximize my profits, but I’ve found that the simplest things work best. Here is the best binary options strategies I’ve got to offer:
1) Find an asset or group of assets and obsess about it. Yup, those guys who trade on a couple of dozen different assets and make a hundred grand in a day may look pretty sharp today, but I promise you in a year they’ll be calling you at 3AM asking for rent money. That’s the terrible and wonderful thing about trading: recklessness can sometimes pay off in the short run, but it’s never a viable long-term strategy. Know your asset inside-out and don’t invest in guesses. Sign up with a good binary options trading platform like Platinum Trader, who send out Market Review info daily so you can keep up with your asset.
2) Reversals are your best friend. Waiting for reversals can test the patience and discipline of even the most Zen traders, but it must be done. Reversals are your biggest chance for a profit with binary options, and if you follow my first rule you’ll see them coming a mile away. I recommend Boss Options for starting out reversal watching, because they’ve got an Option Builder which lets you factor insurance into your option.
3) Analyze your losses. There’s nothing worse than losing out on what you thought was a sure thing, but the only way to truly grow your skill set as a trader is to do that dreaded post-mortem on your losses, even the small ones. Did you misread the charts? Skip the research? Were you sloppy with your timing? Analyzing why you lost can only make you a better trader, and often is the thing that divides professionals from amateurs.