The first step you must take to trade in binary options software review is to find a trading platform and make a starting deposit.
In order to help new traders, many platforms have a demo system. Use this before you begin actively trading to gain insight into how the platform works and how the binary options system operates.
The next step is to make a decision about the types of assests you wish to trade. You have the following options currently:
* Pairs of currency (GBP/EUR, EUR/USD, USD/GBP, etc.)
* Indices (NASDAQ, DAX, FTSE100. etc.)
* Commodities (Oil, Silver, Gold, etc.)
* Stocks (Facebook, GE, IBM, Apple, etc.)
After your asset selection has been completed, you must make a decision between placing a put or a call on it.
* A PUT should be chosen if you think that the asset will end at the time the contract expires at a lower price than it was at the time the contract was opened.
* A CALL is the opposite of the PUT, i.e., you believe the asset will be higher at that end time.
Your best bet is to begin trading in assets that you have familiarity with and to only trade in small amounts. Before you place a trade, you should do some research to find out if there are any historical factors or news updates that may influence how the asset moves.
If you can’t afford to lose the amount you plan on trading, do not make the trade.
The UP/DOWN option is the most common type. The type of option discussed above falls into this category. To make money, you must end lower if you have placed a PUT or higher if you have placed a CALL.
This option type works best in a trending market.
The NO TOUCH or ONE Touch options are also commonly used in binary trading. You get paid if the price fails to reach a level that you have defined in advance prior to the expiration of the option when you use the NO TOUCH option. On the other hand, you make a search on and make prediction that the option will reach a certain level at some point during the trading period in the ONE TOUCH option. If it does, then you get paid even if the price falls prior to the expiration of the option.
When the market is quiet, the NO TOUCH option is the best one to choose. If you don’t think a price level can be sustained but that the price level can be achieved during your trading session, then the ONE TOUCH option is a good choice.