Welcome Binary Options Trader!
In front of you on the trading platform for each market trade is a one hour graph that represents the price of the asset.
The first thing to notice is highlighted on every chart is the current price of the asset. Scrolling over the chart, you will get the price at each place where your curser is placed. You can see by looking at the chart the general trend of the price of this asset. See what the asset’s price opened the hour at, the volatility of the price,etc. Get a feel for the general feel of what the market is pricing this asset at for this hour. Notice if you see a pattern emerge that represents the market’s sentiment for this asset at this present hour. Did the asset price spike up and drop down suddenly at any point so far into the hour? Does it appear to be a relatively steady climb or decline? Did the asset price start off low and then increase, and now appears to be remaining relatively steady?
As you watch the asset you are placing your trade on, you want to be aware of what is happening in regards to news about this asset. Is this asset’s reaction to the news going to be volatile or steady? With Binary Options, as you are choosing the direction of the price within an hour’s window, it is important to have an understanding of the market. In other words, understand currency swings and what that could mean, or stock swings, gold swings, etc. Since Binary Options are traded on the hour, you may want to place your trades when you know that particular asset is having a new occurance, such as a bank releasing a certain rate at a certain time, or etc.
Remember that the beauty of Binary Options is that you only have to choose the direction of the asset. So as long as you choose the right direction, you are “in the money.” Unlike other trading methods, in which what you profit is dependent on you being able to predict exactly or close to how much an asset’s price will move in a certain direction, with Binary Options you are able to get a high return (75-85%) just with getting the right direction.
