Five things that you must do to become a successful trader

Binary options money and success, Realistic Success Stories

And you should be on the lookout for realistic stories of success which prove to you that you can indeed profit from binary options. These stories can encourage and motivate you, and the best ones are backed up by solid data. Click here for a guide to binary options trading.

Conclusion Binary options success is not a coincidence. It is the result of solid planning, knowledge, and the right resources.

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Whether you are a newcomer or a veteran trade who wants to rethink his strategy, this article has all the information you need.

You will learn the three steps to binary options success. These are: Step 1: Understanding the basics Step 2: Finding the right broker Step 3: Finding the right strategy Take these three steps, and you are on your way to binary options success. Trading Success, Step 1: Understanding The Basics Your first step to becoming a successful binary options trader is learning the basics.

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For a quick start, here is what you need to know. Why are binary options called binary? This prediction either comes true or it does not. If it does, you win your option; if it does not, you lose your option.

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Because there are only two possible outcomes, the result is binary. This is where the name comes from.

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Why are binary binary options money and success a great investment? Because binary options are binary, you can make a lot of money with small movements. In regular trading, making a 50 percent gain requires the price of an asset to rise by 50 percent, which takes years.

Binary Options Success Stories

With binary options, you get a payout of around 70 percent if your prediction comes true. If you predict a price increase of one percent, you can make a 70 percent gain with this 1 percent increase — a much more profitable offer. What types of binary options are there?

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There are different binary options types. You predict whether the price of an asset will be trading higher or lower than now at a specific time.

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One touch options. You predict whether an asset can reach a target price within a specific time frame. Ladder options.

You predict whether an asset will trade above or below a specific price at a specific time. Boundary option.

You predict whether the market can leave a price channel within a specific time.

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What is an expiry? Because binary options are predictions about market movement, they must expire at some point. For example, saying that an asset will trade higher than now at some point in the future is hardly a worthy prediction.

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There must be a deadline involved or a specific time at which the prediction is tested. This is what the expiry is for.

Most binary option uses expiries from 30 seconds to a few hours, some also use expiries of a few months or years.

Make Money Trading Binary Options

How can I binary options money and success binary options? To trade binary options, you need a binary options broker. In contrast to conventional assets such as stocks, your broker does not charge you fees to access a stock exchange, which is something you could do for free on your own if only someone allowed you.

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You trade binary options directly with your broker. There are no middlemen and no fees. The last point of this list leads us to our next step: finding the right broker.

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Because binary options are not traded on a central exchange but directly with your broker, different brokers offer different binary options. At the same time, all brokers will offer different payouts, expiries, and options types for the same asset.

How To Achieve Binary Options Success

In addition to the many natural difference between two financial institutes — security, trading platform, location, etc. There are many brokers out there, and each of them offers a different service. The same trader might make a fortune with one broker but lose money with another. There are two things you have to consider when you search a broker: Can I trust this broker?

As with any online transaction, you should make sure that you are dealing with a trustworthy business before you transfer your money to anyone.

Five things that you must do to become a successful trader

This is the easy part. You can find a selection of trustworthy brokers in our top list of the best brokers. All of them offer you a decent service, which greatly simplifies the selection process for you. Is this broker right for me? This is the difficult question because there is no general answer. You have to decide for yourself whether a broker offers the right assets, binary options types, and so on for you.

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To help you, our strategies for binary options for 1 hour top list also list the most important information about each broker in a simple-to-analyse table. In a glance, you see how much money you have to deposit with a broker, whether the broker offers a demo account, and so on.