60 second binary options are a fast growing type of trading. These options can give you a large rate of return almost instantly, but there are many things you need to know before you start off in trading these fast paced options. They can have big returns, but there is also a great deal of risk associated with them. Your potential for losses are bigger than your potential for gains, so you do need to be correct far more often that you are wrong. This means that you do need some practice before seriously attempting to take this type of option on.
These generally have decent rates of return; the industry standard is around 70 percent. With a solid correct trade rate, you can begin maximizing your profits in a way that you cannot with any other type of binary option. Think about it this way, if you are consistently taking in 70 percent profits a few times every ten minutes, this far outweighs even an 85 percent profit rate every half hour. Of course, you will not be right with every single trade, but a good trading strategy, you can reduce this risk.
With a 70 percent rate of return, you need to be right about 59 percent of the time. This is slightly higher than the 55 percent correct trade rate you need with an 85 percent rate of return, but there is a lot more potential for gains within the 60 second binary option realm.
Mastering this type of trade is akin to day trading. A good day trader will move thousands of dollars, sometimes every few minutes when they see a good opportunity. This is the secret to successful 60 second binary options. You can’t just trade them for the sake of trading, but rather, you need to wait for good openings. This obviously means that you should not trade every minute that you have available. Finding and capitalizing on only the best trading opportunities will give you the best results.
Brokers that Offer 60 Second Options
24Option, Banc de Binary, and TradeRush all offer 60 second binary options. These generally will hover right around 70 percent for their rates of return, but you can expect to see slight deviations from this number occasionally. Some brokers, such as Banc de Binary, have extremely limited assets available for trading. This makes some brokers more accessible for this type of trading than others. The thing to remember when selecting a broker is that you want to go with one that you trust and that you feel comfortable with. Furthermore, 60 second options should not constitute all of your trades. You will want to diversify your trading a bit in order to get the most out of your trading strategy. This might mean having more than one or even two brokers that you regularly utilize. In short, 60 second options should not be the only factor that you look at when trying to figure out which broker is best for you.
60 Second Option Strategy
As mentioned above, you do not want to trade constantly. Waiting out the best opportunities is in your best interest. This might mean only a few trades every hour or so, but you will be making the most out of your trading capital and earn a higher return than you would if you constantly traded. The hardest part of doing this is learning the discipline to refrain from executing trade after trade.
Technical indicators will be your best choice for determining when and what to trade. One popular method relies upon support and resistance levels. These are levels that the price of the asset in question generally hasn’t gone beyond, and they oftentimes will replicate themselves as traders realize that these levels exist. When a price is at the resistance level, a 60 second put option has a good chance of working and when the price is at the support level, a call option is the better choice.
Of course, you need to look at other indicators besides support and resistance levels, as well. Double or triple checking your work can be beneficial here, but you do need to remember that too much analysis can result in lost opportunities. Your window for a successful trade might be very small in some instances, so a fast, yet effective, course of action is mandatory.
60 second binary options are probably the fastest type of trading that you can find nowadays. Because of this, they need to be approached with caution. There is a lot of room for growing your money here, but there is also a large risk of losing money, too. By being aware of your risks and making sure you are getting the most out of your returns, you can begin trading in this exciting marketplace and start making a lot of money.