Is it possible to make fast money through binary options trading?
Is it possible to turn a quick profit even as a beginner?
What kind of success can I expect?
Will it take a lot of time and money to get into?
All these valid concerns will be addressed in this article. As an expert trader with over 20 years of trading experience I have gone through countless ups and downs of success and failure. I have learned from my successes and a ton from my failures.
My mission is to shorten the learning curve of the beginning binary options trader and dramatically improve the success of the experienced currency intra-day trader.
To address the first question posed: yes, a trader can make fast money trading binary options, but it is not a get rich quick scheme.
It will take diligence and preparation in order to manage opportunities during market movement to optimize and profit from trades. The trader’s diligence in learning and becoming proficient in reading market conditions is an invaluable tool to making that fast money on those quick turnaround trades.
Binary options trading offers fast money to be made with quick turnaround trades. These quick trades can be termed hyper scalping, which is trading in incremental time frames as fast as 60 seconds (1 minute). Since binary option trading offers only two possible outcomes to the trade, at the time of expiry, it makes it very simple to track success and failure. The trader’s success rate will be determined by the effectiveness of predicting whether an assets (currency pairing or commodity) value will be up or down from the point of entry to the time of expiry.
To address the second question posed: yes, it is possible to turn a quick profit even as a beginner, but in order to achieve consistency it will take practice, determination and an understanding of how the market moves via fundamental and technical analysis.
It is not difficult to understand the 5 “W’s” (What, When, Why, Who and How) of market movement, but knowing how and when to implement a trading strategy or a trading system in harmony with the other 3”W’s” is where the sweet spot of success can be achieved most often.
To address the third question posed: quick success in trading the binary options market can be achieved, but it should not be expected until the trader becomes more experienced and familiar with the markets, methods, strategies and systems of trading.
Once the trader has gained a significant level of proficiency, then the expectation of having an overall winning ratio of 70%, 80% or even 90% can be anticipated. The hope and progression is to enhance success and become more proficient through experience and practice.
The best way to achieve consistent, bankable success is through a disciplined system, strategy and method of trading the currency and commodity markets. A reliable system that is easily downloaded on the trading platform allows the trader to hear and/or see the best opportunity of when to enter a trade via audio and/or visual alerts and signals. This can be an invaluable tool that may dramatically improve the beginning and the experienced trader’s opportunity to earn profit and achieve success.
By having a reliable system of trading that includes custom indicators, the trader is able to determine confirmation of the signals and alerts then make their move to enter a trade.
To answer the final question posed: the beauty of binary option trading is the flexibility it provides both with your financial circumstance and your time.
The trader, through a binary options broker, has the flexibility and ability to invest as little as $5 USD a trade and a demo or practice trading account can be obtained for free. The currency and commodity markets, due to their global nature, are almost always open for business. Look out for my next article that will address the best time for trading the markets.