Binary options trading has become really popular recently – it’s basically the next trading fad that everyone wants to be involved in. Some time back sports betting was the in thing and everyone wanted to get involved in it, then more recently it was bitcoin – which again everyone wanted to trade in. Now it is binary options. I think the reason for its popularity is probably related to its simplicity – there is no complicated formulas that you have to worry about, no stop loses and no minimum trading deposits. There are no odds like with horse racing and you don’t really need to do any research, on the actual trades, before jumping in. With binary options it is really very simple – you just pick the asset that you want to trade against and then you decide whether you think it will go up or down.
Because of this anyone who is old enough can get into binary options trading – and thus it has become a very popular form of trading indeed.
How do you trade in binary options?
If you want to trade in binary options, then you need a platform to do so. A platform is really just a company that will facilitate the trades – a bit like how if you wanted to buy and sell shares on the stock market you would go to a stockbroker, with binary options you just need to register an account with a trading platform such as Omega Options.
Just like registering for any other type of online account you can just visit the website of the trading platform, fill in some details and then once you get your username and password you are ready to go.
The next step is to deposit some funds and after this time you can start trading in binary options.
Learning how to trade
Well, the basic principles of binary options are very easy to pick up as I mentioned previously – you simply decide on the asset that you want to trade on and then decide if you think it will go up or down in the allotted timeframe for the trade – which by the way can be anywhere from as little as 60 seconds to as long as 30 days.
If you want to get more advanced then you can really start analysing the assets that you are trading against in order to get a better idea of which way they are likely to go in the timeframe and you can also sometimes use the timeframe to your advantage – for example you might think that a particular stock is having a real problem all of a sudden even though they are normally very stable – in this case you might trade on a very short binary option hoping that they will go down and win you the trade even though you know that shortly afterwards they are much more likely to go back up to their price they were before the fall.
That is the beauty of binary options trading really – for beginners it’s very easy but for advanced traders there is a lot to learn – so you will never get bored.