04 Jul Is Binary Option Trading Profitable? | USD 1000 a day Profit
Is Binary Option Trading Profitable?
Are you looking to find an answer to this burning question you might have? Want to get started with Binary Option trading – but have no idea how to do it profitably?
Well, you’ve certainly come to the right place! We at Marketpotentials.com have painstakingly compiled all the data and information you’d need to make an informed decision on what binary option trading is all about, and how you can start trading PROFITABLY with Binary Option trading no matter which part of the world you’re in with this latest comprehensive guide of 2020!
More importantly, you’d learn everything you need to know about how to place profitable Binary Option trades to grow your wealth in no time at all. So let’s dive into it…
What is Binary Option Trading? | Profitable Binary Option Trading
If you’re a new trader and have never heard of binary option trading before, don’t worry, we’d attempt to explain it to you in this detailed and simple to understand Binary Option Trading Guide.
Now binary option essentially involves trading on an underlying instrument. The underlying instrument can be anything from forex pairs, cryptocurrencies, commodities etc. In fact, in binary trading, you’re basically forecasting the movement of the underlying asset. Hence you are actually trading on whether underlying asset (forex, crypto, stock etc.) would go up or down in value in a fixed time duration.
The fixed time duration can range from as short as just 30 seconds to 1 minute to longer. The short time duration of a single trade and the potentially lucrative payout that one may get from carrying out a trade successfully is what makes binary trading super popular amongst traders.
In fact most forex traders once they try out binary trading, often don’t go back to trading forex! That’s simply because return of 80% or more is very unusual to be achieved in forex trading, but in binary trading – it’s the norm. In fact you can easily find binary trades that easily provides returns of 90% on IQ Option when you start trading right now.
Recommended Binary Option Brokers of 2020 | Profitable Binary Option Trading
To get started with Binary Option Trading, you’d need to firstly open up a new trading account with any of the brokers mentioned here below. These brokers recommended below by Marketpotentials.com are all accredited and approved binary options trading brokers. These means that they are regulated by various financial authorities around the world and that you deposits are safe and secure. As such it always pays to ensure that you choose to trade with a regulated binary option broker based n your geographical location accordingly.
To safeguard your deposit and your trading account, as well as for your own peace of mind – always trade with regulated and approved brokers only!
Is Binary Option Trading Profitable?
Now if you have had second thoughts about whether is binary option trading worth your time? Well, the answer is a resounding yes. With potential payouts of over 90% of your invested capital – trading binary options profitably is a sure fire way of growing your wealth in no time at all.
Check out the following LIVE Trading video where we made over USD 1000 trading during the COVID 19 pandemic – and how you too could do the same. For more LIVE Binary Option Trading Tutorials – check out our Youtube Channel.
How to do Binary Option Trading Profitably?
Now when it comes to answering the question of ‘Is Binary Option Trading Profitable?’ – there are a number of factors you’d want to take into account. Making profitable Binary Option trades means that you’d want to consider the following factors in order to maximise your profits and set your trades up for success.
Binary Option Trading Tip #1 – Risk Management
Being able to trade Binary Options profitably means that as a trader you’re going to want to pay some serious attention to risk management when it comes to trading. A big part of that means understanding risk vs. reward – in other words as a trader you should always be aware of how much risk you’re taking on with every binary option trade you commit to.
It is also prudent to take all the necessary steps you’d need to ensure that the risks you undertake with each trade is minimised in every way. This means that you only commit to a binary option trade having undertaken a sound risk assessment beforehand. A part of this means that you understand why you chose to enter or commit to a trade – i.e. you spot a significant upside or potential to profit in the timeframe set for the binary option trade (i.e. 30 seconds or 60 seconds etc as available on IQ Option)
In binary option trading, knowing when to enter a trade is also equally as important – this means that you only commit to a binary option trade as close as possible to the Purchase Deadline. By committing to a Binary Option trade close to the purchase deadline – you’re minimising any additional risk you’d be subject to, as it provides you all the additional information in terms of Technical Analysis and developing trends before you enter a binary option trade.
You can check out the Binary Option trading video above to see how we enter a trade very close to the Purchase Deadline with IQ Option – typically within 5 to 10 seconds to the Purchase Deadline works well.
Binary Option Trading Tip #2 – Technical Analysis
Now there are many ways in which you can trade Binary Option successfully and profitably. Knowing, understanding and more importantly applying technical analysis knowledge to your binary option trades mean that you are giving yourself as much chances to succeed with binary option trading.
Technical Analysis is the cornerstone of trading any type of instrument including binary option trading. Indicators such as as Relative Strength Indicator (RSI), Bollinger Bands, Awesome Oscillator (AO), Moving Average Convergence Divergence (MACD) and many others help you as trader to identify opportunities and more importantly pick and choose trades that are best for winning. Although binary option trading promises profits as high as over 90% of your capital invested – you’d still need to have the ability to pick the trades in which are best to capitalise on, and sound knowledge on technical analysis allows you to do this.
Although you do not need to be an expert chart reader in Technical Analysis – all you really need to know is how to interpret these indicators so that you are equipped to choose the best opportunities when it comes to trading binary options.
Binary Option Trading Tip #3 – Niche Down
Trading Binary Options provides you with various opportunities to trade with forex, cryptocurrencies, CFDs, commodities and others. However profitable and more successful trades often tend to niche down to a specific form of binary option trading. For example, if forex and specifically the USD/CAD forex pair trades (with binary option) has worked well for you – as you find that you are able to make better decisions – then sticking to trade that same forex pair using binary options may be a much better choice for you going forward.
This may work better as you are able to better identify trends, developing news that may affect the trade and simply experience as well as you become more familiar with the underlying instrument. It’s important to keep in mind that binary option is always based on an underlying instrument to trade with – no matter if it’s forex, cryptocurrency, commodities or others – as such mastering the underlying instrument is a key component of being able to make profitable binary option trades.
Conclusion | Is Binary Option Trading Profitable
In conclusion to answer the question of ‘Is Binary Option Trading Profitable’ – you’d have to consider your own risk appetite, your trading objectives and pay attention to the 3 factors mentioned above as well.
Profitable Binary Option trading is not impossible – however you will need to put in some effort to understand technical analysis, as well as how you can employ proper risk management and mitigation techniques in your trades to ensure that you come out being a profitable Binary Option trader.
Binary Option trading offers a significant potential for personal wealth growth with its over 90% payouts or Return on Investment (ROI) on your capital invested. Hence learning how to to do profitable binary option trades could certainly make a big difference in your life and what you can attain by being a profitable binary option trader.