13 Feb Binary Option Singapore | Trading Profitably in 2020!
Binary Option Singapore has recently gathered a tremendous amount of interest amongst day traders in Singapore and beyond in recent years. Trading Binary Option in Singapore offers a number of key benefits compared to trading conventional forex or cryptocurrencies, due to the significantly higher FIXED Return on Investment (more than 70% or more) as well as the much shorter duration of trade, which means that as a trader you stand to gain a lot more in a much shorter time trading binary option in Singapore compared to any other type of instrument.
In today’s trade as featured on Marketpotentials.com you’d be able to check out exactly how we made USD 5600 in just under 5 minutes of trading Binary Option using the IQ Option trading platform in Singapore.
Oh and the entire thing is recorded LIVE on our trading account screen which you can see in the video below – so it’s really as real as it gets here when we tell you yes it works!
Binary Option Singapore | Definition
Now let’s start by defining what exactly is Binary Option trading – if you’re entirely new to this. Basically Binary Option trading refers to predicting whether the value of the underlying asset being traded would end up being HIGHER or LOWER than the point at which the trade was entered.
The underlying asset for a Binary Option trade can range from various instruments from forex, CFDs, cryptocurrencies, commodities such as gold and silver and various others. For examples the USD/CAD, EUR/GBP forex pairs, Bitcoin, Ethereum etc. – all of these can be used as an underlying asset in Binary Option trading in Singapore.
However in all cases – the basic feature lies in predicting whether the value of the asset would end up being higher or lower.
Check out the definition of Binary Option by Investopedia.com
If you are entirely new to Binary Option trading, fret not – we too started where you are now almost 6 years back and haven’t looked back since!
Learning to trade Binary Option in Singapore profitably will take some time – there is no sugar-coating it, learning to be a profitable trader CONSISTENTLY is not a walk in the park – regardless of which instrument you trade with (binary option, forex etc) – however you do stand to profit a lot more in a shorter time period by trading binary option in Singapore compared to any other instruments.
You’d also often be confronted with the biggest challenge when it comes to trading – yourself! Or specifically balancing the risk/reward you’re exposing yourself to on every trade.
This is often truly the ultimate test of each binary option trader – once you can start to make decisions and weigh risks associated with a trade independently and logically – you’re better than 95% of other traders out there.
Binary Option Trading involves trading on an underlying assets such as forex, cryptocurrencies, CFDs and others. Binary Option offers a significantly high FIXED Return on Investment on your trades as high as 90% or more.
Binary Option Singapore | Live Trading Video
The first thing you’d want to do is to get started is to sign up for a FREE IQ Option trading account.
At Marketpotentials.com – we believe in providing significant amount of free value where we can – so we often feature our trades LIVE on our Youtube Channel. Feel free to check out our Youtube Channel here for more live trading videos which we feature from time to time.
Next check out the LIVE Binary Option trade video below.
Binary Option Trading Singapore | Trading Binary Options Profitably
OK, now that you’ve checked out the video, lets dissect the Binary Option trading video a little bit further. Now the key to any binary option trade being profitable lies in minimising risk to yourself as a trader – BEFORE you enter a trade. We like to do a quick assessment of this before we hit the TRADE button.
For the GBP/AUD forex Binary Option done in the trade featured in the video above, we entered the first trade as a LONG (we selected HIGHER), or rather we expected the chart to end up inching higher as a general trend. This decision was based on a number of factors, detailed below.
We have been following the said forex pair for a while before we initiated the trade position. As such we were familiar with the ‘trend’ or the signal patterns of the said chart. We also were aware of where the peaks and lows of the said chart – these are the ranges where any trader shouldn’t be trading at (unless you know something nobody else does) – as at these extreme levels, the chart trend can be unpredictable (i.e. it could lead to a new low or a new high).
Secondly the point at which we initiated the first trade at a level of 1.92676, this decision to enter the trade was guided by a number of factors. The technical analysis supported our position that the chart was undervalued and primed for an upswing. This was exactly what we capitalised on when we entered into the first trade – to ride out the potential uptick in the chart as it was undervalued at that point in time.
To be a profitable trader in Binary Option Singapore – it’s also critical to remember to also be aware of your own emotional state when trading – always take position sizes that are appropriate to the capital you’ve set aside when you decide to start trading. This are all part of a risk management strategies that every trader should also pay attention to.
To check out some of our other articles and LIVE trading videos related to click here on – Binary Option Trading Singapore.
What You Need to Know | Binary Option Singapore
Although trading Binary Option Singapore certainly offers a proven and definite way of doubling, tripling or even more your wealth in no time at all – it’s certainly by no means easy or a walk in the park to do so – as with anything else.
You’d have to put in the effort to learn a number of things, some of which are listed below accordingly:
- Technical Analysis Knowledge – In order to become a profitable and successful Binary Option trader, one would need to have a solid understanding of Technical Analysis in all respect. However contrary to popular belief, learning Technical Analysis is not as daunting as it sounds – you can start by understanding the uses of key indicators such as Bollinger Bands and Relative Strength Indicators (RSI) before moving to more advanced indicators such as MACD (Moving Average Convergence Divergence) and many others.
- Understanding your Risk/Reward Tolerance – When it comes to trading, most traders lose money when they lose track or sight of what their risk to reward tolerances are. In other words, when you commit to a particular trade, always keep in mind a sound exit strategy regardless of whether you win or lose the trade. This keeps you grounded as a trader and helps you to better understand your own tolerances towards risk so you can better adapt your trading style and techniques accordingly.
- Sound Risk Management Strategy – When it comes to managing risk in Binary Option Singapore trading, you’d be well informed to have a sound strategy. The lower your risk in trading Binary Option – the better it would be for you and the more you stand to gain as a trader. Having a sound risk management strategy means that you only enter binary option trades that you are comfortable with and are knowledgable about. In other words, if binary option trading on forex pairs such as USD/CAD is what your forte is – then stick to that. You can also employ other techniques (as shown in the video above) – such as only committing to a binary option trader very close to the Purchase Deadline (5 to 10 seconds to the deadline) and others. All of these steps combine to lower your risk taken per trade and helps to maintain a robust risk management and mitigation strategy.
Binary Option Singapore | Is it safe?
Is Binary Option Singapore safe? Well, we do get this question a fair bit from our readers. Although a number of years back, binary option trading had received some bad coverage due to a number of unscrupulous brokers who took advantage of traders – by literally disappearing with millions of dollars – the concept and idea of trading Binary Options profitably has been proven time and time again.
When it comes to choosing a Binary Option broker that is trustworthy and safe – we always advocate using a regulated and approved Binary Option broker such as IQ Option. IQ Option is one of the largest binary option brokerages in the world. It currently is available in over 200+ countries (including Singapore) and has more than 40+ million traders who actively use the platform to trade every single day. IQ Option is also regulated under various laws in the European Union and is overseen by numerous financial watchdogs based in the European Union accordingly (including the United Kingdom and others).
This should definitely set to ease whatever concerns you might have. Also binary option per se is not regulated under Monetary Authority of Singapore (MAS) – having the confidence to trade them using a highly accredited platform and broker such as IQ Option means that your funds and trading account are indeed in safe hands.
Another key factor in choosing a binary option broker to trade with is the speed and efficiency in which they process withdrawals. IQ Option in Singapore is a firm believer in processing withdrawals within just 24 hours of submitting them. Meaning when you initiate a withdrawal request to put away some of those handsome gains you’ve made trading binary option for example, the funds withdraws should be sitting in your Singapore bank account within 48 to 72 hours – which is even better than some of the Singapore based stock brokers today!
IQ Option is a regulated and proven Binary Option Broker and trading platform. It’s easy to use platform as well as the confidence to know that it’s a well regulated Binary Option Singapore Broker under the purview of various financial oversight bodies is good to know and provides the confidence that your funds are in safe hands with a solid international broker.
If you’d like further details on IQ Option and check out one of our comprehensive review pieces on IQ Option as well as the platform – check out this article accordingly.
IQ Option Singapore | Trusted Singapore Binary Option Broker
In conclusion if you’re looking to trade Binary Option from Singapore – then choosing a reputable and proven binary option broker would go a long way to ensure your trades are profitable and keeping your funds or deposits safe. You also have the added reassurance to know that your binary option broker is subject to various regulatory oversights and that your trades are protected as such according to the laws and regulations stipulated when it comes to securities and trading.
If you have yet to sign up for your FREE IQ Option Account, just hit up the link below and fill in your details and you’re on your way to literally earning thousands of dollars on the side from home in no time at all with Binary Option Singapore.
Happy trading and till the next trade – Happy trading!