From time to time, pretty much everybody is interested in making money online. Whether you are looking for a way to make some extra buck or actually start making enough money you can live off. Regardless of your plans, one of best ways to make money online is by trading binary options. And binary options are easy to learn, but it’s not that easy to master them really well. On the other hand it’s not realistic to expect to make good money by not working at all. Great thing is, you can make money online from your couch.
Binary Options Are Easy – Introduction
We can hear regularly about currency rates, either through media or in everyday conversations from people we spend time with. Whether you are working in a company that has operations in other country or you are just discussing rates with your friends planning a trip you will very often notice that there are significant fluctuations on currency rates. Did it ever occur to you, that you might make money off of it? Maybe you already know this. Probably you have noticed advertisements that invite you to trade forex, CFDs or binary options. Perhaps you have tried to understand the essence of these proposals, but it seemed that this is either incomprehensible or unreliable or you need a lot of time and money. Let’s dive a little bit deeper on subject of binary options to demystify them for you.
Binary Options Are Easy – What are binary options?
If you are looking for a way to make money online binary options are probably the best place to start. Binary options are one of easiest and most profitable tools available on financial market. The essence of making money trading binary options is as follows: you need, looking at the chart, to make a forecast of the future price movement. Basically you only need to decide whether the price of the traded asset (currency pair, commodity, stock or index) will go up in the near future or down.
If you take a moment to think about it, all you need to do is to press “up” if you expect the price to go up and “down” if you expect the price to go down. This is trading, meaning you have to buy a binary options that can bring you profit or loss when it expires. So binary options trading involves some risk, you need to invest some money to trade, but possible gains can go up to 80% per option.
When you decide whether the price will go up or down you need to dedicate certain amount from your budget to that particular trade and choose the expiry period of that binary option you are buying. Let’s assume you choose 1 minute expiry period. As soon as one minute expires the trading platform will check whether you were right with your prediction or not. If you made correct prediction then both the amount you invested in binary options and earned profit will return to your account.
Binary Options Are Easy – What Are The Advantages Of Binary Options?
To make answer as simple as possible we created a list of advantages:
– Fixed profit / loss
– No unpleasant surprises: you know all the possible outcomes before the beginning of the transaction, and you can adjust the size of the transaction (invested money) yourself
– No matter how much the price changes. If you, say, pressed the “UP” button, and the chart has passed at least one small step (point) up, then you will get back up to 180% of the invested amount! Therefore, if you decide to engage in a transaction of 100 dollars, then after 1 minute, 180 dollars will return to your account
– Term of the transaction you choose by yourself
– Minimum amount of account replenishment – for example, at the broker OLYMP TRADE
is only 10 dollars
– Visual trading platform: two buttons, user-friendly interface, one chart
Binary Options Are Easy – How to trade?
We have written extensively about how to trade binary options. If you are a rookie you should read our article: How To Start Trading With Olymp Trade. This article contains basic information about how to trade binary options on example of binary options broker Olymp Trade. Best way to learn trading, besides reading about trading strategies, is to trade! Luckily some brokers, such as Olymp Trade, offer free demo account. All you need to do is register at their web site and you will get demo account, even before you deposit any money with this broker.
Once you have demo account, it is easy to practice trading. Try it, open the first trade and see how it goes. You will soon find out that pushing buttons isn’t enough to be a successful trader. You still need to determine the direction of future price movement and take into account the nuances of trade in the financial market. Only this way it’s possible to achieve regular good outcomes that will make you nice revenue. This site is about helping traders learn how to trade binary options, so feel free to look around. There are also some great articles about brokers, we are trying to determine good brokers from scammers.
Binary Options Are Easy – Conclusion
Binary options are definitely one of easiest ways to make money online. They are very easy to trade, but it’s quite tricky to make a lot of successful trades if you are just guessing every time. Having that in mind we advise you to read more about trading strategies in our section Trading Advanced. You can also look for more basic information about trading in our section Trading FAQ. This way you will get basic information quickly.
Second important thing is choosing a good broker. It’s really important to choose the right broker. There are many scammers out there, so beware! We are doing our best to recognize those that are honest and offer great service to their traders. Feel free to browse our Brokers Reviewed section. If you are a rookie always choose a broker that enables you to use Demo account for free, such as Olymp Trade. You can read about that in Olymp Trade Demo Account article.
Always keep learning more about trading. The best learning point is trading itself of course, even if done on demo account. Still make sure you read more about trading strategies that can give you more insight and more theoretical knowledge about trading before you immerse yourself in trading. We wrote interesting series of articles on trading strategies, you can check them out on following lins: Binary Gambit, Ladder Trading, Trading By The Hour, Trading With Moving Averages, Trading Metals, Japanese Candlestick Strategy, Parabolic SAR Strategy and RSI Strategy For Trend Reversal.
If you feel ready to start trading you can click on the button below the text and open free account at Olymp Trade. You don’t need to deposit any money until you feel read you feel ready to trade for real. Olymp Trade is currently the best broker in our humble opinion. If you are looking for more detailed information about that broker feel free to read our Olymp Trade Broker Review. We wish you happy trading!