How To Analyze Binary Options Trading Charts

How To Analyze Binary Options Trading Charts - Free Guide For Beginners

By understanding how to analyze binary options trading charts effectively, you can gain valuable insights into market trends. It is a fundamental skill that separates successful traders from the rest.

In this guide, we will provide you with valuable insights and techniques to help you navigate through the process of analyzing binary options trading charts.

We will explore different chart types, such as line charts, bar charts, and candlestick charts, and explain how to leverage various technical indicators to enhance your analysis.

Additionally, we will explore how to incorporate fundamental factors, such as economic events and news releases, into your analysis.

How To Analyze Binary Options Trading Charts

By following a systematic process and utilizing various tools and indicators, you can develop the skills necessary to navigate the complex world of binary options trading successfully.

It is important to note that trading always carries an inherent risk, and no analysis or strategy can guarantee consistent profits. Risk management and emotional control are essential aspects of successful trading.

The below steps will address you the process with examples

1. Choose The Best Binary Options Broker:

Choosing the best binary options broker is a critical decision that can significantly impact your trading success. When selecting a broker, several factors should be carefully considered. Such as:

Ensure that the broker is reputable and regulated by a recognized financial authority
Good profit ratio or return percentage.
Helps protect your funds and ensures fair trading practices.
Evaluate the broker’s platform
Analyze its user-friendliness, reliability, and availability of essential trading tools and indicators.
Platform with advanced charting tools
Prompt customer support services

2. Select an Asset Types:

In order to categorize your trading style, you must identify the type of trader you are. Along with your interest zone, asset selection also plays a crucial role in analyzing trading charts.

Choosing the right asset determines the characteristics of the chart, the availability of data, and the available trading opportunities.

To make your task easy, we tried to make a proper list of regulated binary options brokers who offer wide range of trading assets.

- Chart Characteristics:

Different assets exhibit varying price behaviors, volatility levels, and trading patterns. By carefully selecting assets, you can focus on those that align with your trading strategy and preferences.

Example: Let’s consider two assets: a highly volatile technology stock and a stable currency pair.

The chart of the technology stock may display sharp price swings and frequent gaps, while the currency pair chart may show smoother and more predictable movements.

Benefits: Choosing assets that match your preferred trading style allows you to better understand and interpret the chart patterns, facilitating more accurate analysis and decision-making.

- Data Availability and Reliability:

The availability and reliability of data for an asset are critical for accurate chart analysis. Ensure that the asset you choose has sufficient historical data and a reliable data source to perform comprehensive technical analysis.

Example: You want to analyze the chart of a newly listed stock. However, due to its recent listing, limited historical price data is available, making it challenging to identify meaningful patterns or trends.

Benefits: Opting for assets with extensive historical data provides a robust foundation for analysis, enabling you to make more informed trading decisions based on reliable information.

- Trading Opportunities:

Different assets offer diverse trading opportunities based on their market characteristics, liquidity, and trading volume. By selecting assets that align with your trading strategy, you can focus on markets with ample opportunities.

Example: If you prefer short-term trading and high liquidity, you may choose to analyze charts of major currency pairs or highly traded commodities. These markets tend to have active price movements and frequent trading opportunities.

Benefits: Focusing on assets with abundant trading opportunities increases the potential for finding favorable setups and executing profitable trades.

3. Plan Your Trade and Risk Management:

Based on the analysis performed, develop a trading plan that outlines your entry and exit points, risk tolerance, and position sizing. Implement risk management techniques such as setting stop-loss orders and considering risk-to-reward ratios.

Example: You decide to enter a short trade if the price breaks below the support level, with a stop-loss order placed above the recent swing high.

Benefits: Planning your trades and implementing risk management techniques promote disciplined and controlled trading, protecting your capital and maximizing potential profits.

4. Identify the Timeframe:

Determine the timeframe you want to trade on, whether it’s short-term (e.g., 5 minutes, 15 minutes) or longer-term (e.g., 1 hour, daily). Different timeframes provide different perspectives on price movements.

Example: Let’s consider analyzing a binary options chart with a 1-hour timeframe.

Benefits: Choosing an appropriate timeframe allows you to align your trading strategy with your desired trading style and goals.

5. Identify Trends and Market Conditions:

Identify the overall trend and market conditions to gauge the prevailing sentiment. This involves observing price movements and using technical indicators such as moving averages, trendlines, or trend-following oscillators.

Example: You notice an uptrend in the chart, with prices making higher highs and higher lows.

Benefits: Understanding the trend and market conditions helps you trade in the direction of the prevailing momentum, increasing the probability of successful trades.

6. Consider Fundamental Analysis:

Incorporate fundamental analysis by staying informed about relevant economic news, earnings reports, or geopolitical events that can impact the underlying asset. This information can provide valuable context to support your technical analysis.

Example: You take note of an upcoming earnings report for the company associated with the asset you’re trading.

Benefits: Integrating fundamental analysis helps you make more comprehensive and well-informed trading decisions by considering the broader market factors.

7. Analyze Support and Resistance Levels:

Identify key support and resistance levels on the chart. These levels act as barriers that can influence price movements. Look for areas where prices have historically reversed or consolidated.

Example: You identify a significant resistance level that has repeatedly halted the upward price movement.

Benefits: Analyzing support and resistance levels helps you determine potential entry and exit points for trades, as well as manage risk by setting stop-loss and take-profit levels.

8. Monitor Chart Patterns:

Look for chart patterns such as triangles, flags, double tops or bottoms, or head and shoulders formations. These patterns can offer insights into potential price reversals or continuations.

Example: You identify a double top pattern forming near the resistance level, suggesting a possible reversal.

Benefits: Recognizing chart patterns allows you to anticipate potential market movements and adjust your trading strategy accordingly.

9. Use Technical Indicators:

Incorporate technical indicators to gain further insights into the market. These indicators can include oscillators (e.g., RSI, MACD) for identifying overbought or oversold conditions, or momentum indicators (e.g., stochastic, ADX) for assessing the strength of the trend.

Example: You add the Relative Strength Index (RSI) indicator to your chart to identify potential overbought conditions.

Benefits: Utilizing technical indicators provides additional confirmation signals and helps you make more informed trading decisions.

Conclusion

Mastering the art of analyzing binary options trading charts is the key to unlocking profitable trading opportunities. By following the steps outlined in this guide, you can gain the expertise needed to make informed decisions and maximize your returns.

Don’t miss out on the potential for financial success—start analyzing binary options trading charts today and take your trading to new heights!

January 8, 2024January 8, 2024

How To Get Pocket Option Bonus And Promo Code?

How To Get Pocket Option Bonus & Promo Code?

Do you know about the Pocket Option bonus feature?

If you want something extra, the broker has got you covered with its exciting bonus program! As a trader, you will receive many benefits, including a bonus.

The pocket Option 50% bonus is an exciting offer for traders that allow you to open a prominent position.

It is understandable that trading can be challenging, so the team has designed the platform to make it easier for you to succeed. With the user-friendly interface and an array of trading tools, you’ll be able to execute trades efficiently and precisely and maximize your profits.

On the other hand, by taking advantage of its generous bonuses, you’ll have more trading power and higher potential returns.

So, let’s find out what they offer and how the Pocket Option bonus works.

Pocket Option Bonus

Unlock Limitless Earnings with Pocket Option Bonus and boost Your Profits Today! Pocket Option offers an unbeatable bonus program that will skyrocket your earnings. With generous incentives, including cash bonuses and risk-free trades, The broker is the go-to choice for traders.

Don’t miss out on this opportunity to maximize your profits.

Does Pocket Option Offer Bonus To Traders?

Yes, the pocket option offers bonuses in several categories. Even to some extent, you can avail of a discount based on the deposit amount. Though on their website, we discovered two special bonuses. Like :

Welcome bonus/Deposit bonus
Promo code

However, while doing our research, we uncovered that they offer more bonuses not adequately mentioned on their website. On the other hand, we won’t mention those bonuses here because there is no proven track.

Moreover, they have an achievement section that can also count partially as a bonus.

Also, you can join tournaments to receive a cash prize if you win with some conditions.

How Does It Work?

Different brokers have different types of attraction to connect with traders. A trading bonus is one of them. Mainly, when you get a bonus, it will increase your buying power. That means you are capable of opening a more significant position.

You can use the Pocket Option Bonus in two ways.

You can avail of the available one
Can purchase the bonus amount from the market

However, you can cancel the bonus at any time if you want.

We will go ahead and describe later how you can get the bonus.

On the other hand, if the bonus is not credited automatically, you can activate it within 24 hours. Please note that it is only valid if you have yet to make any trades after depositing funds.

Pocket Option Welcome Bonus

The other term of the welcome bonus is the 1st deposit bonus. Depending on your deposit amount, you will get a 50% bonus. So, the bonus amount will help you to open a large trade. Also, you can use it to trade the real market.

Note that it is only applicable to new clients.

For Welcome Bonus, minimum deposit is $100. The Promo Code is – WELCOME50

- What Are The Terms & Conditions?

The terms and conditions are applicable to all traders who are with live accounts.

Min deposit for the promo code: $100
Max bonus sum available with this promo code: $5000
Bonus: 50%

For example, if you deposit $150, you will get $75 as a bonus amount. As a result, your total fund will be $225

- How Can I Get My 1st Deposit Bonus?

Go to the Pocket Option website and open an account
Sign in to the account and verify according to the instruction
Click the “Finance” menu and select deposit

At the top of the page, you’ll see a “Get 50% Bonus” orange advertisement; click on it.
Select your payment method from the list (left side of the platform)
Deposit and get a bonus

The deposit bonus terms and conditions will appear on the screen.

- Can I Withdraw Bonus Funds?

Yes, you are permitted to withdraw the funds with a bonus amount with specific terms and conditions. You need to reach the net turnover requirements.

For example, if your deposit amount is $50, the bonus becomes withdrawable if your total trade amount is more than $1250.

However, the turnover amount varies depending on your region and trading account.

Pocket Option Promo Codes

Pocket Option offers trading promo codes for new traders who are just about to fund the initial amount or first deposit holders.

You will find the promo code on the website. Note that purchasing a valid code is also possible from the market.

- How To Apply Promo Code?

Open the website dashboard
Click on the orange “gift box” sign or just click on the “finance” button
Click on the ” promo code” button
You will find an available code of “50START” to get a 50% bonus
Select the deposit method
Input your initial deposit amount
Apply the code & get a bonus

To apply a promo code and receive a deposit bonus, you have to paste it into the promo code box on the deposit page.

- How To Purchase A Promo Code?

You can purchase a promo code to take advantage of a discount, which is the coolest part. It is a special section of the website that allows users to purchase and use promo codes when necessary.

With this additional benefit, you can significantly improve your results. Also, here, in the market section, you’ll find all your available purchases, the history of your purchases, your current discount, gems, and money balance, and buttons to buy and sell stuff.

So follow the steps below:

Open the platform and click the “Market” section
Proceed to the “Promo codes” page
Choose the desired bonus
Click on “Purchase” and “Confirm

Does Pocket Option Offer A No-Deposit Bonus?

A no-deposit bonus is an opportunity token that helps you to trade without depositing money. That means after opening a real account, you will get an instant bonus that allows you to trade on the real market without a funding account.

So, the fun part is that you will receive cash without depositing any money.

Unfortunately, the Pocket Option does not offer a $50 no-deposit bonus for account registration.

Is the Pocket Option Bonus Available In My Country?

Though it is a regulated trading broker, bonus availability depends on many factors. Certain deposit bonuses can be restricted based on the region. Also, it depends on the account types and limitations.

On the other hand, you can also purchase a valid deposit bonus code from the market.

Is It Possible To Recover The Cancel Bonus?

As we mentioned earlier, you can cancel the bonus at any time. But unfortunately, it is not possible to recover the canceled bonus.

Also, the bonus fund will be removed from your balance if it still needs to be fully executed.

Conclusion

The pocket Option is one of the great choices, especially for options traders. Including many features, this incredible bonus program gives traders an additional boost.

So why wait? Sign up today and start taking advantage of all the benefits Pocket Option Bonus has to offer!

December 12, 2023December 12, 2023

Unlock Holiday Profits: 3 Essential Trading Factors You Can’t Ignore

Unlock Holiday Profits: 3 Essential Trading Factors You Can't Ignore

The holiday season is often associated with joy, celebration, and relaxation. But for many investors, it presents unique opportunities and challenges. Holiday trading refers to buying and selling financial instruments, such as stocks, currencies, or commodities, during the holiday period.

While it may seem unconventional to trade during this time, it can be a fruitful initiative. However, you should approach the situation with careful consideration and strategy.

In this blog, we will discuss three crucial factors that you should consider for successful trading during the holiday season.

Factor 1: Clear Idea On Market Liquidity

As a holiday trader, the first thing that you should consider is the market liquidity. It is the most significant factor to consider.

Mainly, liquidity refers to how a trader can easily buy and sell an asset without affecting its price. During the holiday, market fluctuation tends to be lower than usual due to reduced trading activity.

On the other hand, many seasoned traders take breaks which leading to decreased market participation. So, the market acts a bit differently during the holidays due to the thinner trading volume.

For instance, during the Christmas and New Year period, trading volumes in the stock market tend to drop drastically.

So, as a trader, it’s crucial to be aware of these liquidity fluctuations. During the holiday season:

Consider adjusting your position sizes
Using limit orders and
Being more patient with your trades.

These precautions can help mitigate the risks associated with reduced liquidity.

When you are looking at the chart it is need to remember that controlling the roller coaster emotions. Market sentiment plays a pivotal role. So, craft your strategy wisely, monitor it, and gauge market sentiment.

Factor 2: Check The Clock -Trading Time

Timing is an essential part of holiday trading. The most critical aspect is that you need to understand the opening and closing hours.

During holidays, market dynamics can shift rapidly compared to the regular hours. While the financial markets typically operate on a 24-hour basis, not all hours are created equal.

The holiday season can bring about irregular trading hours and reduced liquidity, leading to unpredictable price movements.

On the other hand, the global market has different time zones. It can impact the trading activity. Traders need to stay aware of these time zone differences and how they can influence market sentiment and volatility.

The last note could be essential for all of you. As it’s a celebration hour, balance between personal commitments and trading activities. So, you can do:

Plan your trading schedule
Monitor the market wisely
Check the news and events and scheduled dates
choose to enter or exit positions strategically

Remember, in trading, time is not just a measurement; it’s a valuable asset that can make all the difference in unlocking holiday profits.

Factor 3: Psychology Of Trading Volume

Last but not the least factor is trading volume. Trading volume refers to the total number that traded in a given period, such as a day or an hour.

Usually, as we approach mid-December, trading activity in the financial markets slows down, and it stays that way until the start of the New Year. But there’s something interesting known as the “holiday effect.” This effect suggests that on the day just before a holiday, we might see more trading than usual, which could create some chances for traders.

However, it’s essential to remember that trading can be influenced by various factors that have nothing to do with the seasons.

So, while there could be more activity before a holiday, it doesn’t guarantee that assets will perform in a certain way. It’s always important to consider these other factors that can affect asset prices.

Final Words

Asking me? I am in love with holiday trading. It’s fun and rewarding but full of uncontrollable risk. One can pull a profitable trade who approaches it with knowledge and caution.

So, better to plan with solid strategies before opening a position.

October 29, 2023October 29, 2023

Deriv Demo Account – No Risk, All Reward

Experience Real Market Trading With Deriv Demo Account - No Risk, All Reward

A demo trading account is the perfect starting point if you’ve ever been curious about trading but were hesitant to dive in. It’s like a risk-free playground for aspiring traders. It offers a taste of the exhilarating world of financial markets without any real money on the line.

It’s your virtual gateway to the financial markets, where you can practice, refine, and perfect your trading strategies. And Deriv understands the thirst of a real trader.

In this comprehensive guide, we’ll walk you through the concept of Deriv demo account, explain their significance in the trading world, and provide valuable insights on how to make the most of this powerful tool.

What Is Deriv Demo Account?

Picture this: you’re eager to explore the intricacies of trading, but you need more time to be ready to risk your hard-earned money. The Deriv demo trading account is here to bridge that gap.

Deriv is a popular trading broker that offers options trading on various assets, including Forex, Cryptocurrency, and CFDs. To know the details, you can read the Deriv Review. Because it is better to know how the broker works for a beginner.

So, the demo account is a great starting point for your trading journey. It will give you a complete viewpoint on how the platform works and how you can trade using different tools.

On the other hand, in Deriv, you will get a risk-free trading environment with $10,000 virtual money. Using those funds, you can trade the real market using different strategies.

What Are The Features Of Deriv Demo Trading Account?

Deriv demo account is a sandbox for aspiring traders. You will get multiple benefits that distinguish it from the rest. The user-friendly interface allow you to taste the advanced charting tools to develop strategies effectively.

Let’s explore some of the key features that the Deriv demo trading account offers:

Virtual amount of $10,000
Risk-free learning
No financial commitment
Live trading experience

Multiple Asset Classes
No time limit
Risk management practice
Accessible Anytime, Anywhere

How To Open A Deriv Demo Account?

Opening an account with Deriv will take no time. All you need to do is go to their website and sign up if you are new.

You will find the option “Create demo account”. Click the button, finish the sorted portions, and start trading with your virtual money.

How To Learn Risk Management With Demo Trading?

Risk management in trading is a vital aspect. And there’s no better place to master this skill than with demo trading.

It’s your risk-free playground. You can experiment with different strategies and gain a deep understanding of how to protect your capital.

The beauty of demo trading is that it allows you to make and learn from mistakes without financial repercussions. You get to know,

How risk management works
How to set stop-loss and take-profit orders
Managing risk and minimizing

By the time you transition to live trading, you’ll be well-equipped with the knowledge and experience to manage risks effectively. Demo trading is a skill that can make all the difference in your trading success.

In Deriv platform, you will get risk management tools like stop-loss, take-profit, and deal cancelation.

Is Demo Account In Deriv Free?

The demo account in Deriv is entirely free. You don’t need to deposit the initial amount to open an account.

What Is The Leverage On Deriv Demo Account?

Apart from minor differences, a demo account acts similarly to a real one. So, you will have an opportunity to trade with leverage up to 1:1000.

However, it’s important to note that leverage offerings can change over time and may vary based on regulatory requirements in different regions.

Can I Withdraw Profit From Deriv Demo Account?

You cannot withdraw profits from a demo account. Virtual money is used solely for practice trading purposes. Withdrawal profit is only available from live accounts.

For How Long I Can Use Demo Account?

You can use a demo account as long as you want. There is no particular time frame that one should remember. The demo account is open for everyone, from novices to experienced traders.

However, if your account remains inoperative for 30 days, Deriv will deactivate it automatically.

Final Words

Deriv demo account is an invaluable tool for traders at all levels. So, everything you can draw from risk management to trading plans in one platform.

What sets this demo account apart is its unwavering commitment to mirroring real market conditions, enabling you to gain practical experience without fearing financial loss.

At the same time, the lessons learned within this safe space can be invaluable when transitioning to live trading.

So, if you’re on the path to becoming a more confident, skilled, and knowledgeable trader, consider the Deriv demo account as your gateway to success.

September 4, 2023September 5, 2023

How Much Do I Need For Trading?

How Much Money Do I Need For Trading-Binoption

Unlock The Secrets: How Much Money Do You Really Need To Start Trading?

You may be dreaming the allure of financial independence through trading! Lounging on a beach, sipping a cocktail, while your trading account magically multiplies your money.

But hold on, before you quit your day job, there’s a crucial question that needs answering: How much money do you really need to start trading?

Let’s start with a straight answer.

How Much Money Do I Need For Trading?

Well, you need ZERO money to start trading. Confused, right? But the truth is, that trading doesn’t require any money if you start with a demo account. Only real account holders invest money based on their strategy and experience level.

On the other hand, if you think on Broker’s perspective, they set a minimum amount for traders. That means, you need to start trading by depositing a minimum amount like $5 dollar to onwards.

How To Determine Trading Capital?

When it comes to trading, you’ll need some capital to get started.

But, before you leap, you need to know how much capital you require.

It could be the lowest or the highest one based on your experience. But, how much? What is the desired number?

So, this section guides you through the essential steps, from setting clear goals and assessing your risk tolerance to evaluating your current financial situation.

It’s all about getting a firm grasp of where you stand before making your trading dreams a reality.

1. Setting Clear Goals:

When embarking on a trading adventure, it’s essential to set clear goals. Ask yourself,

What do I want to achieve through trading?
Are you in it for short-term gains?
Do you have a long-term financial objective in mind?

Moreover, understanding your risk tolerance is crucial. It’s like knowing how much spice you can handle in your favorite dish.

2. Evaluating Your Current Financial Situation

To determine your trading capital, you’ll need to assess your current financial situation. This involves scrutinizing your income, expenses, savings, and existing investments.

It’s all about knowing where you stand financially.

So, do not rush to catch the big fish. Start with a small investment and make it clear to you that you can’t afford the loss of more than your capital.

3. The 1% Rule

Are you familiar with the 1% rule – a guideline followed by many traders?

Learn what it is, its pros, and cons, and whether it’s the right fit for your trading style. Because, it is important for traders to know how to balance risk – reward ratio.

On the other hand, spreading the risk is a smart strategy. It is all about asset allocation and how diversifying your portfolio can help safeguard your trading capital.

4. Don't Forget About Fees

Trading isn’t just about how much you’re putting in; it’s also about what you’re taking out (hopefully with profits).

Keep in mind that there are trading fees, commissions, and spreads that can eat into your returns. It’s crucial to factor these costs into your trading plan.

What Is The Minimum Investment Requirement?

Every trading platform or options trading platform has its own minimum requirements. Some may allow you to start with as little as $5, while others might require a minimum of $1000 or more.

Make sure to check the specific requirements of your chosen broker. Also, you can check our best brokers or trading platform list that offers the lowest deposit amount.

Conclusion

So, the ultimate result is that a trader needs an amount that goes with their trading style, risk tolerance, and chosen assets. Whether you’re starting with a few hundred dollars or tens of thousands, the key is to be well-prepared, have a solid trading plan, and always prioritize risk management.

Remember, in the trading world, it’s not just about how much you can make; it’s also about how much you can protect.

June 8, 2023June 18, 2023

Understanding The Key Differences: Real And Demo Accounts

Demo Trading Account Vs Real Trading Account-Binoption

Understanding The Key Differences Between Real and Demo Trading Accounts

When it comes to trading the financial markets, brokers accounts play a crucial role in helping traders hone their skills and execute trades.

Two common types of trading accounts are real and demo accounts. While both serve the purpose of facilitating trading activities, they differ significantly in their characteristics and objectives.

In this article, we will explore the fundamental differences between real trading account and demo trading accounts, providing aspiring traders with a clearer understanding of each option and its benefits.

Let’s explore real account vs demo account.

Real Account Vs Demo Account

Difference between demo trading account and real trading accounts based on the characteristics and objectives. A demo account provides a risk-free environment for traders to practice and learn without using real money. On the other hand, a real trading account involves real money and actual financial commitments with trading emotions.

However, both trading accounts share the common goal of facilitating trading activities.

What Is Real Trading Account?

Real trading accounts, also called live accounts, let traders do actual financial transactions with real money. To open an account, it is required to deposit a minimum of funds to execute trades on the market.

Including the other benefits we will discuss below, this account type provides traders with the opportunity to experience trading’s emotional and psychological aspects. Note that in trading, the risks and rewards are tangible. Profitable trades result in gains, while unsuccessful trades lead to losses.

So, it is worthwhile to remember that live trading accounts involve real financial commitments and should be approached with careful consideration and risk management.

Key Features Of Real Trading Accounts:

There are some key features of live trading account. These are:

1. Funds Allocation

In live trading account, actual funds are involved. So, it enables traders to experience the monetary consequences of their decisions.

On the other hand, brokers will fix a minimum amount to deposit. So, to start, it is required to fund your account.

2. Market Conditions:

Trading on a real account reflects current market conditions, including liquidity, slippage, and execution speed. These factors impact the trader’s experience and outcomes.

3. Emotional Impact:

With real money at stake, traders experience emotions such as fear, greed, and excitement, which can significantly influence their decision-making process.

4. Risk and Reward:

Real trading accounts offer financial gains and losses, directly impacting traders’ portfolios and overall financial well-being.

5. Learning Through Experience:

Real accounts provide practical learning opportunities by allowing traders to analyze their trades, learn from their mistakes, and develop effective trading strategies.

So, with a real account, you can also learn how to control the unwanted trading emotions.

What Is Demo Trading Account?

In old age, demo trading was popular as paper trading. Demo accounts are virtual platforms that simulate real market conditions without involving actual money. These accounts are primarily designed for educational and practice purposes.

Traders can explore various financial instruments, execute trades, and monitor their performance without any financial risk. However, not all brokers give you the same facility, but most are does.

Additionally, demo accounts typically offer a virtual balance, which allows users to experiment with different trading strategies, indicators, and techniques in a risk-free environment.

Key Features Of Demo Trading Accounts:

Demo account is trader’s life jacket. It will give you the same real trading feel but without any monetary risk.

There are some potential key features that one should remember:

1. Virtual Funds:

You will get virtual funds based on the broker’s requirements. Using those funds, you can trade the market, allowing you to experiment and learn without fearing financial loss.

2. Simulated Market Conditions:

While demo accounts attempt to replicate real market conditions, it is essential to acknowledge that they may not perfectly mirror the actual market. Execution speed, slippage, and liquidity might differ from what is experienced in real trading.

3. Educational Tool:

Demo accounts serve as invaluable educational tools for beginners. Also, allow them to gain familiarity with trading platforms, explore various markets, and test their strategies.

On the other hand, demo trading is essential for both new and experienced traders. New traders can learn and experienced traders can find the way to earn better.

4. Risk-Free Environment:

Since no real money is involved, traders can experiment with different trading techniques, indicators, and approaches without the emotional stress associated with financial losses.

So, its an open ground for all who wants to learn how to trade.

5. Strategy Development:

Practice accounts or demo accounts enable traders to refine their trading strategies, test new ideas, and identify potential strengths and weaknesses before moving on to real trading.

As we mentioned earlier, for experienced traders, this account works as a tool where they can test strategies before moving forward with a real account.

Conclusion

This blog post on real account vs demo account, hope will help you to find out the primary differences.

Both trading accounts serve different purposes. So, the choice ultimately depends on an individual’s experience level, financial situation, and trading goals. So, take your time, start with a demo if you are new in trading and then switch to a real platform.

May 22, 2023May 22, 2023

How To Use ChatGPT For Trading?

Changing the trading world with ChatGPT makes it more exciting. The goal of a trader is not just to generate money quickly but to stay ahead of the game. So, it requires a deep understanding of market trends and the ability to make informed decisions quickly.

Keeping up with the latest developments and snagging opportunities can be tough with so much data and information to sift through.

That’s where ChatGPT comes in. It analyzes market data, identifies patterns, and provides real-time insights to traders using advanced natural language processing and machine learning.

In fact, studies have shown that AI-powered trading platforms like ChatGPT can significantly improve trading performance.

It’s not only about the figures. The platform can help traders stay on top of the latest news and trends, identify new opportunities, and make more informed decisions.

This article will show how this virtual tool can help traders grow in the trading business.

What Is ChatGPT?

In recent days, the word ChatGPT has been buzzing like bubbles, and anyone can find something interesting there. OpenAI dropped this magical tool in November 2022. The tool was first introduced in June 2018 and has since undergone several improvements and updates, including the release of larger and more powerful versions.

It is an extensive language model developed by OpenAI. Furthermore, it’s an artificial intelligence program that uses deep learning algorithms. The algorithm helps the tool generate human-like responses to natural language input.

But don’t let ChatGPT fool you; it’s not as bright as it seems. It may think it knows everything but still can’t find its way out of a paper bag! Therefore, it’s better to double-check before making a decision.

Specifically, the tool is based on the GPT (Generative Pretrained Transformer) architecture, which uses unsupervised and supervised learning techniques to develop its language capabilities.

Due to its training and capabilities, it is often used for tasks such as text completion, summarization, translation, question answering, and more. Its ability to generate human-like responses has also made it a popular tool for chatbots and other conversational AI applications.

Is ChatGPT Good Option For Traders?

Yes, Chat GPT could be a nice and finest solution to analyze market conditions and build trading strategies. As a trader, you have to command strongly with explicit instructions.

In terms of manual trading, it is fast and precise. As there is no emotional loop, you can use this AI to create a strategy based on technical analysis and trends.

On the other hand, you should remember that Chat GPT or any other language model has the ability to work with a large volume of unstructured data.

So, when spending hours in your chair analyzing the market manually, this technological blessing will finish it just in a minute.

How ChatGPT Helps Traders

ChatGPT is a language model with extensive data that can be used to make informed investment decisions. Using machine learning techniques and historical data, ChatGPT can identify trends, predict future market movements, and provide real-time market analysis.

That is the coolest part: one trader usually does it manually or sometimes takes help from the automated bot. And the same task you will be able to do with this blessing.

Let’s find out the best moment that you can spend with this amazing AI tool.

1. Market analysis:

Keeping up with real-time information is key. Trading is about real-time market updates. It is a process that refers to the continuous flow of data and information regarding market trends, events, and news as they happen.

According to that information, traders can decide when to buy, sell, or hold their investments.

For example, a study by McKinsey & Company found that machine learning algorithms can improve stock-picking accuracy by up to 10%. Using ChatGPT’s analytical capabilities, traders can make more informed decisions and potentially achieve higher returns on investment.

So, using this tool, you can get insights into market trends and conditions to a certain date.

Though we found that this tool helps traders to find real-time market data. But when we asked the ChatGPT the tool denied it and showed its result.

So, staying up-to-date with the latest market information is nearly impossible. However, the paid version could do a miracle.

This is an unfortunate drawback.

Here are some of the key benefits of real-time market updates:

Timely information will help traders to make an informed decision
You can make quick and efficient decisions to take advantage of the market before they disappear.
Real-time market updates can help traders identify potential risks and take steps to manage those risks.
Help traders develop and refine their trading strategies based on current market conditions.
By making more informed decisions, managing risks more effectively, and taking advantage of market opportunities, traders can generate higher investment returns.

2. Investment recommendations:

It can provide personalized investment recommendations based on an individual’s investment goals, risk tolerance, and other factors.

These recommendations can help traders make more informed decisions about which investments to make and when to make them.

3. Trading strategies:

This tool helps you to build a strategy based on the market condition. All you need to do is input your command and wait for the result. In this case, remember this, your command should be perfect and pointed.

Here is an example of a news trading strategy that you can modify to suit your needs:

In this example, the tool defines a news event time and symbol and then creates buy and sell conditions based on the previous candle’s close and high/low and whether the current time and symbol match the news event.

We then define the position size and stop loss, and take profit levels based on the Average True Range (ATR), and submit orders using the strategy.entry and strategy.exit functions.

Please note that this is just an example, and you should do your own research and testing before using this or any other trading strategy in a live market.

4. Sentiment analysis:

Via this AI tool, you can analyze news articles, social media posts, and other sources to gauge market sentiment. By understanding how people are feeling about the market, traders can make more informed decisions about when to buy or sell their investments.

5. Predictive analytics:

ChatGPT can use machine learning algorithms to analyze historical market data and predict future market movements. By identifying trends and patterns in the data, traders can make more accurate predictions about the future performance of their investments.

6. Risk management:

Help traders manage their risks by identifying potential risks and recommending how to mitigate them. By managing risk more effectively, traders can reduce losses and maximize returns.

A study by BlackRock found that using machine learning algorithms for risk management can potentially reduce investment losses by up to 25%.

Profitable Trading Strategies Used With ChatGPT

Sorry to disappoint you. But in reality, there are no particular strategies that you can only use to generate profits. Meanwhile, many new traders have the intention to earn quick profits.

But hold on. Trading is not a quick game.

You can only see the ray of hope if you put time and effort simultaneously.

But are there any profitable trading strategies with Chat GPT?

Unfortunately, no. It is not a trading guru. Also, as it works based on the human commend, there are no specific strategies to use with ChatGPT.

But yes, you can use the most popular tools to identify or build a certain strategy. Each following tool has a different pattern for analyzing the market. These are:

Technical analysis
Fundamental analysis
Sentiment analysis

Each of these tools uses technical patterns as well as positive and negative market sentiments to understand movement and trends. Remember that ChatGPT is not your only option. It will help you to make your decisions better, but you are solely responsible for your moves.

How To Build Trading Strategy Using ChatGPT

It’s not recommended to rely 100% on AI-based strategies. It’s not a financial advisor and can’t give you investment advice. So, before engaging in binary options trading, it is important to conduct thorough research, carefully consider your risk tolerance, and seek professional financial advice.

However, it will give you some general consideration and help you to build a chatgpt based trading strategy for any trading types.

1. Collect data:

The first step in building a ChatGPT-based trading strategy for binary options is to collect data on historical prices, news events, and any other relevant data that may affect the binary option price you are interested in.

You can scrap a large amount of data using this tool and analyze the data based on the conditions.

Need to note that it may not have direct access to up-to-date trading data, market information, or the ability to collect data on its own.

2. Identify patterns:

Use the tool to identify patterns in market data. ChatGPT can be trained to recognize patterns in price movements, news events, and other market factors that can affect the trading market.

3. Train:

Once you have collected the data, you can train the model on the data to predict the asset price based on the inputs you provide. You can use tools like TensorFlow or PyTorch to train your model.

4. Define your trading rules:

Once you have trained your model, you need to define your trading rules. For example, you may decide to buy an asset if the model predicts that the price of the option will rise above a certain level within a specified time period and sell the option if the model predicts that the price will fall below a certain level.

5. Test your strategy:

Once you have defined your trading rules, you need to test your strategy on historical data to see how well it performs. You can use back-testing tools to test your strategy and make any necessary adjustments.

6. Implement your strategy:

Once you have tested your strategy and are confident that it works, you can implement it in the live market. Be sure to monitor your strategy closely and make any necessary adjustments to ensure that it continues to perform well.

How To Backtest Strategies

In order to build a trading strategy, this step is crucial because it allows you to evaluate how the strategy would perform in the past. For instance, you can test a trading strategy by running it over a period of time and comparing the results to a benchmark.

Backtesting a trading strategy involves the following steps:

1. Define the strategy:

Clearly define the trading strategy you want to test. This includes entry and exit rules, as well as stop-loss or take-profit orders. However, it is not applicable to all types of trading. Therefore, it is better to choose a type first.

2. Gather historical data:

Gather historical data for the assets you want to trade. This data should include prices, volumes, and any other relevant information. Here are the blessings of chatGPT that could help you gather large amounts of data.

3. Backtest the strategy:

Once you have a solid strategy, backtest it using historical data. This involves running the strategy on historical data and recording the trades that would have been made.

4. Analyze the results:

Check how well the strategy has performed in the past. As part of this analysis, we will analyze return on investment (ROI), drawdowns, and any other relevant metrics that may be relevant to the project.

5. Optimize the strategy:

If it did not perform well, consider optimizing it by adjusting the entry and exit rules or other parameters.

Good backtesting will help you find the success and failure percentages. In addition, it’ll save time and give you more confidence. Moreover, it can help traders avoid costly mistakes and improve their overall performance.

You should keep in mind that it isn’t a guarantee of future success. In other words, it’s a good way to evaluate a trading strategy’s potential.

How ChatGPT Works For Automated Traders

The acceptance of automated trading is well known to you. Traders of any experience level can sip the juice of a trading bot. And fortunately, ChatGPT has something to provide for this type of trader who uses the trading robot.

According to TRADE’s January 2023 Algorithmic Trading Survey

“over 44% of all respondents still say their top four reasons for using algos remain ease of use, reduce market impact, increase trader productivity, and consistency of execution performance.”

In spite of the fact that there is nothing special, it is necessary to follow a certain process.

First thing, you need to identify which trading instrument you want to trade
With the language model, you can collect large amounts of data and extract them according to your preferences
Select and use those data to fine-tune the language model
Make your trading system more efficient by integrating the fine-tuned language model
Ensure your trading decision with a proper risk management

Is Language Model Similar To Automated Trading Bot?

Hell no.

Trading robots and AI models are two different things. AI models like ChatGPT have the ability to analyze and create trading strategies as well as algos.

But it has no power to trade automatically on behalf of you. So, it will help you create a system for output.

Notable Limitations Of ChatGPT In Trading

If you think the language model will work the same as manual brains, you are in a deep problem. As an AI model, they have some limitations. On the other hand, AI Chatgpt may not be able to understand human sentiments, which can be a significant disadvantage in trading. The market can be unpredictable and often reacts based on human sentiments and news events.

Apart from the emotional drama, some technical glitches could happen. Like bugs in the code, technical errors, or malfunctions that could result in inaccurate trading decisions or missed opportunities. If you have coding knowledge, then you can identify them from the bottom up. But a non-technical trader will be in trouble.

Despite the fact that AI is capable of learning and analyzing data, they still have limitations as far as knowledge and experience are concerned. Traders with years of experience and knowledge may provide the highest level of expertise.

So, the facts are:

You won’t able to get real-time market data
Failed to understand human emotion
Technical glitches could happen
All strategies won’t work the same

Benefits Of Using ChatGPT In Trading

Limitations are part of every solution. The benefits are also on the same page. To get a good result, you’ve got to balance both things.

Here are some notable benefits of ChatGPT in trading:

You will find the platform 24/7. So, anytime with any questions related to trading, it is available for a quick answer.
You’ll learn how to make trading indicators, strategies, and even trading algorithms.
Analyze social media and other sources for trading market sentiment.
Analysis of large amounts of data
Trading algorithms can be integrated with ChatGPT to automate trades.
Will help you to take a fast and organized trading decision

Conclusion

There is no denying that ChatGPT is one of the powerful tools that help traders grow. With its advanced natural language processing capabilities and deep understanding of market trends and trading strategies, ChatGPT provides valuable insights and guidance to traders of all experience levels.

Also, it offers a wide range of features and services to help traders achieve their goals. Whether you are a novice trader just starting out or an experienced professional looking to take your trading to the next level, you can have a try.

April 24, 2023April 25, 2023

Deriv EZ Platform Introduction – Innovative Mobile App For CFD Traders

Deriv EZ Platform Introduction - Binoption

Deriv EZ Platform Overview - Innovative Mobile App For CFD Traders

Deriv EZ is a mobile trading platform that offers a wide range of financial instruments, especially for CFD traders. One of the key features is that the platform provides advanced trading tools with an intuitive dashboard.

This article will explain what a Deriv EZ account is. It will cover its features and importance. Finally, it will look at why you should consider opening one.

Are you new to the world of trading? Would you like to use a more advanced platform? This article will help you with valuable insights.

It is time to dive in and discover what the platform has to offer!

What Is Deriv EZ Platform?

Deriv is a multiplatform online trading broker that includes everything traders need. As with other trading platforms under the Deriv group, it is also an innovative mobile app for the CFD platform. Note that it is not for desktop or web users. It is specially designed for mobile traders with all of their favorite assets.

You do not need to remember an additional account ID or password. So, the Deriv EZ mobile app allows you to focus solely on trading. On the other hand, trading on this super new platform gives you access to a variety of assets.

These include forex, stocks and indices, commodities, cryptocurrencies, and derived indices.

So, you will get an amazing on-the-go trading experience.

Why Trade With Deriv EZ Mobile App?

When traders look for a trading platform, they often seek a

User-friendly interface
Low trading fees
A wide range of financial instruments to trade
Reliable and fast execution of trades
Robust security measures to protect their funds and personal information

There are a lot of financial instruments you can trade with Deriv EZ, including derived assets. Additionally, the platform has a user-friendly interface and low trading fees, so traders can make more money.

So, why should we trade on this platform?

Minimum deposit of $5
Return 95%
Easy to start
100+ tradeable assets

50+ indicators and tools
24/7 trading
On-the-go trading
Dedicated customer support

Ultimately, a trader’s decision to use Deriv EZ, or any other trading platform, depends on personal preferences, trade types, experience level, and trading strategy.

A trader should always do their own research and due diligence before choosing a platform.

How To Create A Deriv EZ Account?

Deriv EZ will allow you to open a demo account to start trading. So, before using real money, you can practice and understand the platform’s behavior.

To open a demo account, first:

Download the Deriv Go App
Sign in to the account
Choose a Deriv EZ account.
Start trading

If you don’t have an account with Deriv, follow the step-by-step guide to signing up

Open the Deriv platform
Create an account with a valid email and password
Agree to the terms and conditions
Start trading with the demo account

You can switch to the real account at any time you want. Just fund your account with a minimum amount and start trading the real market.

High Capital Risk Is Involved In Financial Trading

5 Top Listed Benefits Of Deriv EZ

As the platform is solely for mobile traders, the benefits are really notable. Here I will describe the top 5 benefits of Deriv EZ that influence me to try this new platform

1. Enhanced trading experience:

The platform helps you to enhance your trading experience with a demo account. You can access the real-time market without spending a penny.

2. Access to advanced trading tools:

With Deriv EZ, you can make informed trading decisions with more than 50 indicators and tools. Moreover, these tools will help you to

Analyze the market
Read the financial chart
Make strategies etc.

3. On-the-go trading:

Fortunately, traders don’t need to download extra apps to trade on Deriv EZ. You can access it instantly if you have an account with Deriv. So, please forget about writing multiple passwords in your notebook, or you don’t need to try to remember those.

4. Customizable trading interface:

The dashboard can be colored however you like, whether you’re trading commodities stock or forex. It’ll keep you organized and focused and track your transactions. In addition, it lets you customize your trading platform so it looks and feels the way you want it to.

5. Low deposit amount:

The platform will benefit you with a low deposit amount of $5. It is one of the best benefits for traders who want to start with a small amount.

Frequently Asked Questions

The mobile-first trading platform allows you to trade the global market from anywhere. Now let’s see what traders think about this newly launched platform.

1. What is the minimum deposit required?
To open a real account, the minimum deposit of $5 is required.
2. What trading instruments are available on Deriv EZ?
More than 100 trading instruments are available on Deriv EZ platform. You can trade CFDs on Forex, stocks and indices, commodities, cryptocurrencies, and derived indices.
3. Is Deriv EZ regulated?
Yes, this mobile trading app is a multi regulated online platform.

Conclusion

Deriv EZ account offers you unparalleled flexibility and convenience. It has powerful trading tools and educational resources to help you succeed. Moreover, it is the ideal choice if you want to take your trading to the next level.

With its wide range of features, powerful trading tools, and low fees, it’s an excellent option for traders of all levels.

So if you’re ready to trade confidently, sign up for a Deriv EZ account today and start exploring the possibilities of the markets.

March 13, 2023March 20, 2023

Binoption Invited To Deriv Partnership Conference Dubai #DerivDXB2023

Deriv Affiliate Partnership Conference Dubai 2023 - Binoption

Binoption Invited To Deriv Partnership Conference Dubai #DerivDXB2023

Binoption is thrilled to be invited to the Deriv Partnership Conference Dubai. One of the popular online trading platforms Deriv, recently hosted a South Asian-based affiliate conference from 24th February to 27th February at the Radisson Blu Hotel, Dubai Canal View.

Binoption is proudly announcing that the team had a remarkable experience with the Deriv Team. We had the chance to meet and greet over 150 people.

It was the biggest event that brought together some of the hottest names in the online trading industry from India, Pakistan, Bangladesh, Sri Lanka, and Nepal. We had the opportunity to share our knowledge and experience, discuss the latest trends with market leaders, and explore upcoming opportunities for growth and innovation by participating in this conference.

On the other hand, the focus was on how traders could improve their experience with Deriv and how the platform ensures the fastest and safest withdrawals.

Also, there were opportunities for attendees to showcase their success and learn from others in the industry doing innovative things.

Let’s share our experience with you and how our team enjoyed the moment with joy.

Deriv Conference - What Was In The Mystery Box?

It wasn’t the first time but it was the only time they had arranged it this bigger. Ms. Seema Hallon, Head of Dubai Office and Global People Management, glistened at the beginning with her passionate words towards all of us.

Mr. Dhanraj Dhanak, Manager of Global Partnership Asia, including the others on the team, worked tirelessly to make it successful and spectacular.

A lot of top traders from South Asia are there too. They shared their real-time experience with Deriv and also gave suggestions on how the team could improve. One of our team members also shared her experience, especially with the customer support team.

She highlighted the positive parts and pointed out the flaws, so our readers and traders get the highest quality service from Binoption.

Moreover, the conference is known for its amazing hospitality and vibrant work culture, which creates an atmosphere of collaboration and learning that is second to none. From the moment attendees arrive, they are greeted with warmth and hospitality that is extremely difficult to find elsewhere.

The conference organizers go out of their way to ensure that everyone is comfortable and that their needs are met. Whether providing transportation to and from the airport, arranging hotel accommodations, or providing meals and snacks throughout the day, the team was dedicated to creating a welcoming and inclusive environment for all attendees.

We had a pretty streamlined agenda. Among the topics discussed were:

Introduction of Deriv
Instruments and platforms overview
Deriv P2P
Deriv API
DBot introduction
Deriv X
Deriv MT5

Apart from the brief introduction, there was a space to ask questions, and also some do/don’t sessions, especially for Affiliate partners. Also, we had the opportunity to explore partners’ success stories and their testimonials.

Also, the conference is designed to be interactive and engaging, with attendees encouraged to ask questions, share their experiences, and contribute to the conversation in meaningful ways.

The keynote speakers are some of the most influential and innovative minds in the affiliate marketing industry. They bring a wealth of knowledge and expertise to the table and are always eager to share their insights and experiences with others.

Top traders got on the board to share their experiences and how they succeeded in life with Deriv. One of the traders shared –

I had a small job to do and which was not enough to support my family. Somehow I got to know about Deriv and started with a small amount. I had no idea what and how to do. The overtrading and psychological game led me to lose money. I took time and gathered knowledge and started again. And after 10 years, I am in front of you and proudly introducing the reborn me who has hundreds of students. As a professional trader, I can only recommend you Deriv for their excellent service, zero market manipulation, and fastest withdrawal.

It’s like he’s not the only one who shares their good and bad phases.

Meanwhile, we had a one-to-one session with the country manager and other path viewers, where we discussed our limitations. Besides that, we talked about how to grow with Deriv.

The discussions were always lively and engaging. In addition, Binoption also built strong connections with people from different countries.

How Traders Get Benefited From Deriv?

As we mentioned above, there are several ways to get benefited from the multi-platform broker. One of the most lucrative sources is the Deriv API which helps traders to build their own kingdoms.

It will help you build a custom platform. Moreover, you can personalize the trading app to meet your needs.

So, the features that you will get from the Deriv API :

Trade digital options and multipliers
Monitor real-time pricing
Buy/sell contracts
Monitor your trading history

Apart from this, there are many things that you can’t ignore. The broker left no choice but to amaze you when it came to trading benefits and withdrawals.

And all the traders who presented at the conference shared the same knowledge and experience with everyone. According to their statement,

Deriv is one of the best platforms that understand the traders’ needs.

Deriv Surprising Announcement

Traders who are Muslim believers usually prefer not to pay any swap while holding the position overnight. It is one of the most significant disadvantages of them not having a SWAP-FREE account in Deriv.

Swap rates are applicable when:

Your trading position are kept open overnight
At the end of a trading day or at 00:00 GMT+0
Trade CFDs

So, along with other benefits and features, Deriv will introduce a new account type for Muslim believers. The account is open to everyone but designed specifically for Muslim traders.

Moreover, it is also a perfect choice for them who who do not wish to receive or pay interest or swap rates.

Benefits that you will get:

Zero interest
No limit on positions
No extra commissions
Compliant with religious faiths
Real time market

Soon, Deriv will declare on their website.

Night Light In Dubai - Deriv Gala Dinner & Safari Ride

The conference starting part was great indeed.

There was a magician who charmed us with his incredible magic. He was so impressive that we all started to think he was a real wizard!

It’s not all about work and stress. The weekend was packed with experiences and exploring Dubai. Everything went perfectly, from a buffet breakfast to a glam Bollywood gala dinner. The Gala dinner was on a rooftop terrace overlooking the downtown skyline so we could end the conference on a high note!

At the same time, they ensured that we spent a memorable time on the Desert Safari, including various activities and delicious Emirati cuisine.

What Amazed Us

Everything from the beginning to the end. The amazing hospitality with the ability to understand the individual’s words amazed us. The team was also incredibly knowledgeable and could answer any questions we had. Their level of service and understanding of our needs was truly impressive.

They encouraged traders to share their problems and were willing to help with the solution. Swap-free accounts had been requested by some Muslim believers. The function will be implemented as soon as possible, according to Deriv.

We got the profitable mantras from the team and also got to know traders’ perspectives from different zone.

Final Words

It is hard to explain in words how perfect those days were! Binoption had an amazing time with industry leaders and innovative minds from Deriv. Also, this conference motivated us to do better in the near future and also with the knowledge to come up with something creative and exciting.

We are happy to share our experience with you. Thank you so much for your support! Without you, we would not be where we are today!

This conference also opened the curtain to prove the broker’s desperation to stay in this competitive market by providing the best service.

We encourage our readers to read once again about Deriv, and it is high time for you to become a part of it.

January 23, 2023January 23, 2023

Bitcoin Binary Options Trading

How To Trade Bitcoin Binary Options - Binoption

Bitcoin Binary Options Trading - Best Broker Recommendation

Bitcoin is a center of attraction for traders, and it adds more value when you get the opportunity to trade binary options with this popular coin. But the scary part is that is bitcoin binary trading legal?

Well, we will clear things up about everything regarding legitimacy in this article. Also, you will learn how to trade bitcoin binary options.

Truth be told, binary trading and bitcoin will help you make more money. But with proper care.

We’ll bring everything you need.

What Is Binary Options?

Binary options is all about the prediction game. Either you forecast the right asset price within the expiration period, or you’ll lose money. So, the trading process is simple, but the risk is complex as hell. As a result, you must have the power to understand the market for an excellent result.

To become an excellent trader will cost you much. The only thing that matters is your time and effort, not money. Building a strong strategy with a comprehensive trading plan is like breaking your opponent’s defense.

Is there anything to note?

On the other hand, binary options trading is considered to be a high-risk, high-return form of investing and is not suitable for all investors.

Moreover, what is binary options trading article will guide you about the basics of binary trading with a clear anatomy.

What Is Bitcoin?

Bitcoin is one of the most innovative creations. The virtual currency, or digital coin, has changed how traders think about trading. Statistically, bitcoin is the largest cryptocurrency in terms of market capitalization.

On the other hand, you can trade, invest, or can pay through this coin. Additionally, Bitcoin uses a strong technology called the blockchain. However, more than these lines are needed to understand Bitcoin properly. However, it is a complex process with hundreds of benefits.

It is clear that Bitcoin is decentralized and has zero government control over it. Similarly, it is a popular investment method, though bitcoin has a volatile trading history.

Still, there are a lot of crazy people who are willing to invest more money. And it’s only possible for the coin’s popularity.

Now, let’s find out what bitcoin binary options is.

What Is Bitcoin Binary Options Trading?

The main function of Bitcoin binary options is to allow you to trade binary options on crypto assets such as bitcoin. Traders need to choose the asset and predict the future price. If you are correct, you will get a certain payout percentage. But if your prediction goes wrong, you will see a minus balance in your account.

In a simple context, it is all about yes or no.

Moreover, you can use bitcoin in two ways.

You can use bitcoin as a form of payment method
Can use as an underlying asset

Apart from these two, there are no other ways to benefit from the most hyped instruments.

Let’s set an example for you.

Suppose you choose to trade bitcoin at the price of $16,000. You believe that after 60 sec, the price will increase and hit $16,500. So, based on the prediction, you decided to click the “call” option. Just after the 1 minute, if the price increase, you will get your invested amount, including an 80% payout percentage.

Note that the payout percentage depends on the broker to the broker. However, the standard percentage is approximately 90%.

Is Bitcoin Binary Options Trading Legal?

Regarding legitimacy, binary options trading is not illegal. However, there are some limitations depending on the region or country. Similarly, you can’t trade small timeframes in certain countries like the USA, UK, etc.

Moreover, there is a separate set of rules for traders in the United States. The primary rule is that traders won’t be able to trade with offshore brokers.

And about bitcoin binary trading, no, it’s not illegal.

As binary trading has a shady history, we recommend that traders pick regulated brokers. Regulated brokers abide by rules and regulations that help you protect your money from being scammed.

How To Trade Bitcoin Binary Options?

Bitcoin market is extremely volatile. Picking a particular asset type won’t change the trading method. The method will be the same. You have to walk through a few steps to complete the trading process. The steps are:

Select a regulated broker
Build a strategy
Pick the strike price
Set the expiration time
Monitor the trade
Close the position

- Select a regulated broker:

As we mentioned, you must invest your time and effort to pick the best thing to protect your money. A platform that is regulated won’t disappoint you. At least you will be free from scams. On the other hand, regulated brokers keep you alive with plenty of notable benefits and features.

We will also provide you with an extra benefit by adding this super article in your reading cart.

Moreover, we will mention here the top 3 brokers who are famous and regulated.

- Build a strategy:

Binary options is not just about prediction and luck. Your prediction should be correct and bold. And to make it worthwhile, a solid strategy is a must, whether you are a seasonal or day trader.

Similarly, bitcoin trading in binary options needs a strategy to close a successful position. We wonder how people prefer to trade bitcoin on short-term charts.

A bit risky game.

Moreover, combining technical and fundamental tools will help you determine market sentiment through price action.

Additionally, all you can do is on a demo account. A demo account will allow you to draw charts and use analysis too. In addition, it is one of the most effective tools for identifying patterns and trends without losing money.

So, if you still believe in gambling, no, options trading is far away from this word.

- Pick the strike price & expiration time:

In binary trading, the most amazing part is that you know the winning payout percentage. For new traders, sometimes, picking the right strike price is challenging in a short time.

So, you have to learn how to pick the correct one that maximizes your return and minimizes loss.

- Monitor the trade:

After determining the strike price and expiry time, it’s time to open the position. Check the pre-set strategy again and then click the button based on that strategy. Regular binary options trading doesn’t allow you to close the deal in the middle of the trade.

However, binary bitcoin trading allows you to manage risk by setting stop-loss and take-profit.

Do not leave the page once you hit the “place an order” option. Wait and monitor the chart movements. Due to the extreme volatility of the crypto market, your trade may work differently than you planned.

So, if the market moves against you, you can exit early to limit unwanted risk.

- Close the position:

Finally, it’s time to close the deal with a return or just nothing. Note that you can save yourself from a huge loss if you choose to take an early exit. Similarly, you can lock your profits early if the market turns in your favor.

Trade Binary Options With Bitcoin Explained (Guide)

Now, we will break down the process and explain how to trade binary options on bitcoin or cryptocurrency. However, the trading principle is the same, but some other aspects are different. Keep a focused mind so that you can get everything at once.

After forecasting the market movement, set the chart and other trading tools to build a strategy. You can use a 60-second or 5-minute trading strategy based on your calculations.

Prepare your right side and fill accordingly:

Enter the investment amount
Choose the expiry time
Start trading

Note that both short-term and long-term trades are acceptable.

Regulated Bitcoin Binary Options Brokers (Recommended)

In the following list, you will find the top brokers that accept bitcoin for binary trading. However, apart from these, you will get more from the list of our best binary options trading brokers.

But we have chosen just one for your quick start and also based on the payout ratio and other features.

At this moment, Deriv is doing absolute magic. You can trade bitcoin and earn the highest payout or reward. Also, the platform is intuitive for traders. The other platforms are also doing their best to offer something unique. But according to our days of research, we found this platform excellent, especially for beginners.

If you wanna start with a small amount, start today with the most popular digital coin, Bitcoin.

You can also deposit and withdraw via Bitcoin. However,

There is no minimum deposit if you choose crypto as a pay method
Minimum withdrawal starts from 0.0022 to 25

Also, you can check the review by clicking below.

$ 5 Minimum Deposit

Leverage up to 1:100
Tight spread
Zero commission
Minimum Withdrawal $5

Popular

Is Deriv Allow Binary Trading On Bitcoin?

Deriv does not allow digital options or binary trading on Bitcoin. You can trade bitcoin in the form of CFD and multiplier options. The two types of trading are different from regular binary trading. Moreover, you will get over 25 crypto pairs, where Bitcoin is one of them.

Note that Cryptocurrency contracts traded with multipliers have a time limit.

5 Reasons To Invest Bitcoin In Binary Trading

The coolest thing about binary trading is that you can trade options on multiple instruments. Some assets are better than others’ underlying assets. There are a bunch of money-making trading instruments, and Bitcoin is one of them.

Dig down deeper to find out the 5 reasons why people trade bitcoin binary options:

Highly volatile asset
Technical analysis works best
Long-lasting trends than other markets
Good payout
Round-the-clock trading

Compared to the traditional market, bitcoin prices jump by 10% – 50% daily. If you make the right prediction, great rewards will wait for you.

Bottom Line

It’s not like other crypto coins are not accepted by brokers. But the major coins always have their new way of surprising traders. Either with their highly volatile nature or the profitability ratio.

So, for short-term traders or binary traders, it’s something lucrative. Use a demo account to clear up your confusion before taking a big step.

Hope this article will help you to learn the basics.