Thursday, September 06, 2012

Poker or Binary Options Trading? How To Profit

Profiting in Different Market Conditions 

Let's face it.  Online poker, at least from the US, is barely scraping by. There are limited choices of places to play, the risk factor seems through the roof and quite frankly making a deposit and getting paid is about as easy as pulling teeth.

The good news is that there are legal US binary options brokers you can trade at easily, quickly and securely.  

It's time to consider Binary Options Trading. 

One thing you’re going to learn about when you’re getting into binary trading is that the market behaves differently at different times depending on what’s going on in the world.

Sometimes a market will trend upwards or downwards for an extended time period. Being able to catch a trend is every trader’s dream since this is one of the best ways to make a lot of money.

As a binary options trader, you’re limited in the sense that your trade ends when your expiration trade runs out, but you can always place another entry if you see the trend continuing. Other times the market ranges for a long time without really going anywhere specific. This is one of the harder times to make money, but binary options traders have specific ways to take advantage of ranging market conditions.

Here’s how to profit in different situations with Binaries: 

When you think you see a trend developing. This is a good time to place a One Touch or No Touch trade.

For a One Touch trade, just pick a trigger you’re sure price will hit before the expiration time runs out. For a No Touch trade, just do the opposite—pick a point in the opposite direction of where you think the trend is heading.

Not sure which direction the trend is going, but pretty sure there’s going to be a breakout? Place a Double One Touch trade with a trigger on either side of the current price level.

 When the market is ranging. If you’re pretty sure that the price is going to be ranging between two points for a while, place a Double No Touch trade with triggers on either side of the price range you expect. As long as price doesn’t journey outside that range or touch either trigger, you’ll profit.

When the market is choppy. Don’t trade.

If you want to lose money and lose it fast, this is the time to do it. Whipsaws and choppiness are the enemy of every trader. Wait until things stabilize or trade a different financial instrument which is experiencing more stable conditions.

Binary options are great for making money when there is trending or ranging market conditions. Choppy markets give everyone trouble; regardless of the financial instrument you’re trading, it’s best to steer clear of them. Take advantage of Double No Touch trades during ranging conditions; they are one of the most unique advantages of trading binary options.

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