Every single new binary investor needs to prepare themselves both mentally and emotionally for the ups and downs that come along with binary trading.
The first step is to select a good binary options trading platform, and what that means is the platforms should work well with your trading style whether that be forex, stocks, commodities, or index trading.
Once it’s time to trade, where is the best place to start? It’s a well known fact that those who fail to plan, plan to fail. It’s time to come up with a reliable and proven binary options strategy.
Right below we created the step by step strategy for binary success and now it’s yours for free..
The Early Hedger Binary Options Strategy
It’s not uncommon knowledge that most new traders start out using technical analysis to place trades. If you have ever used this specific type of trading style to read charts, it may be a good idea to check out some resources on candlestick charting, which is very well known in the binary industry as a go to trading strategy to follow.
It’s important that you pick the right entry and exit position on every single binary option investment and with candlestick charting there is less room for error which means higher ROI.
Here’s a breakdown of the early hedging strategies that you may want to follow :
1. Decide the best point of entry on the specific binary option trade as early in the cycle as possible
2. Give it time to make a move, keep a close eye so you can increase the trade for more profit or even hedge in specific cases.
3. Start looking to place a potential second trade roughly 10 minutes prior to the lock out period
4. When the position is in the money hardcore it’s best to leave it alone
5. If you’re losing money on the trade you can leave it alone and move on to the next or attempt to place 2 more trades to lock in a profit zone.
6. In case the option is sticking around the entry point, It could be a great idea to being placing opposing binary trade position to limit max. losses.
The 6 tips above can guide your trading. This is a proven early hedging strategy for binary options and it is a sound way to control the overall risk of an otherwise risky trade.
Under this binary options strategy you give your self a ton more chances to reap profits and exit loss positions and you have the chance to keep a close eye on your trades.
Other popular binary strategies expose traders to substantial risk with no consideration for safety. Stay in the investment for as long as possible and follow the strategies outlined above to keep yourself trading.