Again this seems easy, but ensuring that the actual trade ends in profit is not as easy.
Just like we mentioned in one of our previous articles, some brokers will only allow a minimum expiry of at least 7 days, making it more difficult to ascertain what the behavior of the price will be. The first step here will be for the trader to do some analysis, and then select his chosen price direction High or Low. Unfortunately, many brokers do not offer charting tools on their platforms and it is difficult to analyze the charts.
Some analysts advocate the use of news releases to trade this type of binary option, but the truth is binary option bet this is not practicable for a number of reasons. You can only use this on broker platforms that allow expiration days of between 3 hours to 3 days, as this is when the news effect is at its strongest levels.
Attempting to use news events outside this time frame is unreliable. Even when you are allowed to use shorter expiry deadlines, the bet prices would have been adjusted so much that the payouts will be much smaller when compared to the staked amounts. It is preferable to aim for a risk-reward ratio of Trades where there is more risk than reward are not very desirable.
That leaves binary option bet with the option of using technical analysis. The logic here is to use strategies that are determinants of price action, such as using chart patterns. With this in mind, the trader should proceed to download the trading platforms of brokers who offer forex, crude oil, spot metals and index futures on the same platform such as FxPro and use the charts to do their analysis.
This adds more certainty to the trades. Just like in other financial markets, there is no place for a hunch trade.
You cannot allow your money to run on the uncertainty of hunch trades. Top Brokers.
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