How To Make Money On Binary Options 10 Must Follow Rules - Binoption (2024)

How to make money on binary options? I was searching for the same thing when I first decided to make money with binary trading.

Come on, who does not want to be a millionaire?

Everyone wants to know the process to fill the box with money. Even in the trading business, there is no difference. But, somewhat, there is a thin line between earning and making money.

Binary options tradingis about the decision, between yes or no. However, the process is less complicated than other trading types. Traders around the world can perform binary on different assets such as forex, commodities, stocks, etc.

Besides, you won’t feel the necessity of being a professional. In the flip side, we recommend you to be the master in trading to generate a steady income.

For example, to place a trade on gold, no need to buy gold bullion. All you need to do is decide whether the price of gold expects to shoot up or go down, within a certain period.

Before deciding, go through our articlehow to successfully trade binary options. Especially, it will help you to take an implacable decision.

Additionally, the following 10 words of advice will make your trading life as simple as pie.

How To Quickly Wipe Out An Account - 6 Mistakes

As a trader, you suppose to know that risk management is the key to long-term success. It will also help you to grow your account. However, we will here to mention 6 things which guarantee that as a trader you will blow up your account.

  • Trade large size without a strategy
  • Trade more after losing
  • Place trades as often as possible
  • Ignore market movement
  • Ignore trends
  • Do not bother to have plan

10 Effortless Steps To Make Money On Binary Options

Trading business is the legit way to earn extra money for a better life. I am pointing again it is a valid source of income, but not an easy way.

Remember, you have to walk through a road where you will find many obstacles. But, at that point, the best weapon that you will carry is your knowledge. You have to make a reliable trading system to help you win trades without investing a lot.

So, the following 10 steps will power up your journey by giving you the right direction.

# Proper Trading Knowledge With Profitable Trading Assets:

Trading knowledge is necessary for every trader before entering the market. Having a clear basic concept of trading will help you to make the right decision in a very crucial moment.

90% of traders lose because they don’t know how to make money from a volatile market. They blow up an account within a few weeks. It is hard to recover the account if you have limited knowledge.

On the flip side, you can develop your knowledge by applying it in the real trading field. Hence, you can make good use of ademo account.

The minute you set your mind to start, choose the asset that you are willing to get involved. In general, it means to decide the asset class – stocks, forex, commodities, and so on.

Each trade holds different methods. For example, if you think the value of oil prices is going to crash soon, your choice of the asset should be commodities.

# Choose The Right Trading Broker:

Often, new traders face a dilemma to choose the right broker. All traders need to choose a broker because it will work like a bridge in the financial market. It is always good to check whether the broker is properly regulated with reputed authority or not.

But why it is important to check the broker’s regulation?

The leading advantage is that your capital will be safe. On the other hand, you can charge for the compensation if the platform attempts any fraudulent activities.

Moreover, unregulated brokers often attract customers by showing impractical offers with bonuses. But, regulated brokers run a transparent and honest trading operation.

We have a complete list of binary options trading platform from where you can check features, services, cost, etc. Additionally, you can make a shortlist with names and open a practise account to test the platform’s features.

Luckily for you, we have done all the research and sorted out the best brokers for you.

We are recommending you top 3 brokers based on the profitability and regulation such as Deriv, IQ Option,andBinaryCent.

Our Recommended Brokers

Deriv

$ 5 Minimum Deposit

  • Regulated: Yes

  • Maximum Payout: 100%

  • Demo Account: Yes

IQ Option

$ 10 Minimum Deposit

  • Regulated: Yes

  • Maximum Payout: 93%

  • Demo Account: Yes

BinaryCent

$ 250 Minimum Deposit

  • Regulated: Yes

  • Maximum Payout: 95%

  • Demo Account: Yes (Paid)

# Choose The Right Expiry Time:

How To Make Money On Binary Options 10 Must Follow Rules - Binoption (1)

In binary options, expiration time determine the moment when the trade expires. Traders have to predict the right asset price within a fixed time.

Depending on the asset, different brokers may offer different expiry time. It is the most importantterminology of binary options trades.

Moreover, the expiry time can be less as60 seconds. Necessarily, traders have to choose the right expiry time to consider the extreme conditions of uncertainty.

As a result, the expiry time will decide after considering the level of risk you are ready to take. Furthermore, trading binary option is much easier than other trading classes.

Before setting the expiry time, traders need to analyze the market. Here, you can use the combination of 3 analysis to pick the right asset.

After all, the financial market is volatile. So, things can change upside down overnight. Make well research on yourinvestment strategyuntil you are expecting to keep the option live.

# Understand The Potential Gains:

Thepotential gainvaries trader to trader. In trading, investors need to invest after calculating the appropriate potential gain. Each broker is different. So, their offerings also different from each other.

Compare each broker to checkthe potential gains and what you will miss if you do not make the right choice.

Not only that but the comparison will also help you to understand the potential gains that you are expecting to get from a broker.

# Trending Options:

Try to gather the latest and most useful trading market information. At the previous time, traders need to collect trading related news from different media. Now, you can easily find the latest updates or news on the trading platform.

Traders should check the economic calendar at least once before place any order. It is crucial to understand because the market movement is unpredictable.

Getting aspecific strategy of tradingand sticking to the same will not help you to reach anywhere. Your trading life will be boring.

# Place Trades Instantly:

How To Make Money On Binary Options 10 Must Follow Rules - Binoption (2)

Due to market volatility, things will flip instantly. If you decide toexecute a tradewithout considering the market movement, then you are going to blow up your account very soon.

Analyze the market properly by using different trading tools and indicators. Once you place a trade, there is no chance to take back.

If you are sure that the market will move on your favour, then there is no reason to delay in executing the deal.

# Increase The Trading Budget:

Brokers offer unique and attractive features to gain customers. In some cases, these offerings will increase your trading budget. On the flip side, depending on your trading experience, you can also increase your trading investment.

For example, some brokers offer welcome bonus during registration. Moreover, you will find a lot of brokers who offers bonuses after inviting friends.That means, if you introduce someone new to the platform, a certain percentage of their profit will be shared with you.

However, unrealistic promises will not help you to generate money. Additionally, trading tournaments are also a great source of increasing profits.

You can compete with various traders around the globe and win a prize. It will also help traders to polish trading skills.

# Hedge Your Trades:

Do not try tomake money by exposing your riskto the market movement. Being greedy will not get you anywhere. Thus hedge your trades through off-setting positions and nullify your risk in the trade.

Though the profits you make through are very marginal, but it will help you to play a safe game, especially when themarket is very unstable.

#Roll Forward Features:

Rolling option trades offer by a few brokers. It also available when you have a live trading account. Unfortunately, you can not apply to test this feature in a demo account.

By extending the expiry time of existing trade, roll forward feature will help traders to deal with the losing position. However, under the right circ*mstances, it will work as a great strategy.

Moreover, traders will get the facility, if the market moves to them.

The feature will help you to make money through binary options on existing trades, that moves in your favour. To use this strategy, a proper understanding of the financial market is very essential.

# Look For Early Exit Option

Getting into a trade with a broker who offers the early exit option is very good and beneficial. Suppose you fear about some uncertain event in the market that can take a loss on your investment.

Early Exit option will give you a chance to get out from the risky transaction with some minimal charges.

This charge will be acceptable by the trader if he thinks he will face loss on his investment from the uncertain event(s).

Some of the brokers who are offering this feature are:

  • IQ Option
  • Expert Option
  • Binomo

Make good use of all these tips and guidance to safeguard your investment and to make money with binary options which will increase your profit-earning power!

Can I Make A Quick Money With Binary Options?

The answer is NO. Making quick money is impossible though, the trading type is less complicated. But it is not that simple you are thinking.

There are so many traders, still losing money for their poor strategy and psychological fact.

Most beginner traders scare to trade options because of the outcomes. The outcome is whether a winning payout or nothing. It brings me to the main point, that is the difference between making and losing money in binary options.

For all traders, trading practices and mindset is necessary. Furthermore, newbie and inexperienced traders see binary options as a one-time opportunity to score a big payout.

They invest a large sum of money (usually a large percentage of their investment size) on a single trade, without properly analyzing the market and asset. Finally, they gain nothing instead of losing all the initial investment.

On the flip side, traders that make money from binary options, don’t gamble at all. They carry out small trades and aim for small gains. No trader has a 100% win ratio.

So don’t be disheartened by losses. Just take the right decision at the right time with a small investment amount.

Conclusion

After reading this article, you won’t complain about making money when trading binary ever again.

We are mentioning again that the trading form is less complex than other forms of trading. You can pile up money within a very limited time if you know what you are doing.

Though many people are involved with trading binary options around the world, but try to understand the risk at the same time. You can make a constant profit if you trade from your head not from your heart.

How To Make Money On Binary Options 10 Must Follow Rules - Binoption (2024)

FAQs

How to get rich with binary options? ›

How do binary traders make money? Binary traders can make money by correctly predicting whether a market will be above a specific price at a specific time. At expiration, you either make a predefined profit or you lose the money you paid to open the trade. Binary options are priced between $0 and $100.

What is the most profitable binary options strategy? ›

#1: Trend Following Strategy

One of the most fundamental and effective strategies in binary options trading is the trend following strategy. It is based on the principle that asset prices tend to move in a particular direction for extended periods.

How to predict binary options correctly? ›

These are the top 5 technical indicators you can use when trading binary option contracts:
  1. Moving averages.
  2. Average true range.
  3. Moving average convergence/divergence (MACD)
  4. Relative strength index.
  5. Stochastics.

How to become successful in binary trading? ›

Success For Binary Options
  1. Establish a Trading Plan.
  2. Risk Management is Key.
  3. Stick to Your Strategy.
  4. Stay Informed.
  5. Embrace Discipline.
  6. Patience Pays Off.
  7. Learn from Mistakes.
  8. Adapt to Changing Market Conditions.
Dec 7, 2023

Has anyone become rich from binary trading? ›

While it's true that binary options trading can offer significant profit opportunities, it's far from a guaranteed way to get rich quickly. Like any form of trading, success in binary options requires knowledge, patience, and a well-thought-out strategy.

Can you live off binary options? ›

To start, I highly recommend that you don't quit your job. At least not just yet. Yes, it is possible to make a living trading options but it takes time to learn & capital to start.

What is the secret strategy of binary options? ›

The secret to successful binary options trading lies in the trader's ability to adapt to market volatility, analyze market conditions, and align their strategies with market trends. This adaptive approach allows traders to navigate the ever-changing currents of the financial markets with ease.

How to win big in binary? ›

Validate winning percentages, and do a complete due-diligence review before you make a decision. Also be wary of a broker that offers to trade on your behalf. They are trying to entice you to increase your deposit and then enter a losing trade thereafter. Binary option brokers only make money if you lose it.

Which option strategy makes the most money? ›

1. Bull Call Spread. A bull call spread strategy is driven by a bullish outlook. It involves purchasing a call option with a lower strike price while concurrently selling one with a higher strike price, positioning you to profit from an anticipated gradual increase in the stock's value.

How do you master binary options? ›

Key Components of a Binary Options Trading Strategy

This is setting clear rules to avoid and mitigate potential losses. It includes determining the amount of capital to risk on each trade, setting stop-loss orders, and understanding the potential risk-reward ratio of each trade.

What are the best trading times for binary options? ›

  • TIME.
  • TIME FRAME.
  • According to a survey of binary options traders,
  • the best time to trade binary options is.
  • between the hours of 6.00-12.00 GMT and 18.00-0.00 GMT.
  • This is when the highest percentage of profitable trades are made.
  • YOUR TIME FRAME.
  • DEPENDS ON YOUR NATURE AND AVAILABLE TIME.
Dec 30, 2023

Which indicator is best for binary options in 1 minute? ›

The following are some of the best indicators for binary options 1 minute trading.
  • Bollinger Bands. ...
  • MACD (Moving Average Convergence Divergence) ...
  • RSI (Relative Strength Index) ...
  • Stochastic Oscillator. ...
  • Fibonacci Retracement. ...
  • Volume.
Nov 5, 2023

How to make money on binary options? ›

Binary traders can make money by correctly predicting whether a market will be above a specific price at a specific time. At expiration, you either make a predefined profit or you lose the money you paid to open the trade.

How much money do I need to start binary trading? ›

The minimum amount of money needed for binary options trading varies depending on the broker you choose. Some brokers allow you to start with as little as $10 or $20, while others may require a minimum deposit of $100 or more.

Is binary options a good way to make money? ›

The main advantage of binary options is their simplicity. Unlike traditional options, they have a fixed payout and expiration, making them easy to understand for beginners. Traders know their potential profit or loss upfront, so the risk-reward ratio is clear.

How much do binary options traders make? ›

The estimate average salary for Binary Trading employees is around $95,744 per year, or the hourly rate of Binary Trading rate is $46. The highest earners in the top 75th percentile are paid over $108,599.

What is the success rate of binary options? ›

While the potential for high returns in binary options is real, it's crucial to set realistic profit expectations. The average return on successful trades tends to be in the range of 60-80%, with the remaining 20-40% representing the potential for losses.

Is investing in binary options a good idea? ›

Beware of Overstated Investment Returns for Binary Options

Assuming a 50/50 chance of winning, the payout structure has been designed in such a way that the expected return on investment is actually negative, resulting in a net loss to the customer.

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