People often wonder if they can make money from short-term trading without working for a big investment house or trading firm. And the answer is yes. Even though there are a lot of risks, many people trade as a hobby or to make extra money every day. If you know what you’re doing and take steps to lower your risk, a 60 seconds binary options strategy is a great way to make money quickly.
60 Seconds Binary Options Strategy
Explanation
A binary options strategy is a list of things you should think about before making a trade. Some of these things are studying the market, looking at charts, reading the news, using indicators and signals, and so on.
Risk management and emotional control are the foundations of every strategy. These are extremely important for every binary options trader because this is a very risky market and many traders let their emotions get in the way when placing trades.
Statistics
A 60-second binary trading strategy is good for both beginners and more experienced traders but it’s just one of seven basic trading strategies that could be employed on the forex market. Even if you don’t know much, you can get fast results and make money as a beginner. Professionals tend to make more money right away because they already know a lot and can use their experience to maximize their profits.
Benefits
The short trading window’s main benefit is that you can win quickly. You can make money almost any time the price goes up or down. The shorter window also has more risk, so the returns are higher compared to, say, the day window. You can also have more than one trade going on at the same time. Not to mention, 60-second binary options are pretty easy to understand as they only have two possible outcomes: win or lose.
Strategies
Trading 60-second binary options need a careful, proactive approach. Having a solid plan in place not only makes it easier to make decisions but also makes the whole thing less stressful. Importantly, there is no one-size-fits-all strategy for trading 60-second binary options, but we have put together some of our best tips below.
Risk Management
Risk management is the core of any good strategy, and 60-second binary options trading is no different. The 1% rule is a place to start for many traders. This rule says that you shouldn’t risk more than 1% of your total portfolio on a single trade. It is used to keep losses to a minimum and make sure that traders can deal with small problems and keep trading.
Charts
Setting up your chart should be pretty simple. The best place to start is with candlestick charts. Set them to a time frame of 1 minute. You can also use 1-hour charts, but we suggest working your way down to shorter charts, which will give you the most accurate information to work with. You want a price that is low over 50 candlesticks, if possible. Make sure you mark the beginning and end of the 50-candlestick period.
Support & Resistance
Since prices tend to move toward one line or the other, support and resistance levels can help you make better predictions. They can be used to figure out where the price is likely to go next. They are a good place to start for traders of all levels, but especially those who are new to trading binary options.
Technical Indicators
As you learn more, you might want to use moving averages to help you make predictions. There are a lot of technical indicators out there that can help you predict what the price will do. As a general rule, we recommend setting up moving averages and support and resistance levels. These can make it easier to tell if the price is going up or down.
Profitability
Trading binary options can make money, just like any other type of trading. But that doesn’t mean it will always make money. There is also a chance that you will lose your initial investment if things don’t go as planned. Because of this, you shouldn’t take big risks just because you think you will win a lot of money if you do. Remember that trading binary options is a lot like gambling at a casino. You should look at it as a way to make extra money, not as a way to make a living.
Conclusion
Trading in 60-second binary options is a high-stakes game with a lot of adrenaline. You’ll need to be disciplined, stick to your plan, and know your limits if you want to do well. But while the risks are big, so are the chances of success.
