How to use binary options to make a profit?

this strategy uses three indicators

In binary trading, the vast majority of speculators drain their money. Do you know why? In fact, there are many reasons. But one of them is that many people don't even know how to use binary options properly. Well, we will correct this today. We just want to warn experienced traders right away. This article is not for you. Today we will devote time to beginners.

What are binary options?

First of all, let's briefly explain what binary trading is and what it is not.

So, many people treat brokers like casinos. To some extent, this is the fault of the brokers themselves, who even benefit from it. Let's just say that the broker's platform has nothing in common with a gambling machine, unless of course it is used correctly.

Some brokers like to say that it's easy to make money here. Just guess where the course will go. At the same time, they say that the profit can reach 90%, etc. If you approach trading in this way, then the process itself will really resemble a roulette game, where players take turns betting on red or black. But this approach is wrong.

Binary options is not a game. However, this is not a trade either. The trader does not need to buy and sell the asset on which he enters into transactions. This is a special financial instrument where you can earn money with your head, and not hope for luck. How do I do this? We will discuss further.

How to use binary options

Now that we have found out what binary options are, we can start looking for answers to the main question: how to use them? A couple of sentences won't be enough for this. We will do everything in the form of instructions consisting of several points, thanks to which you will be able to understand what needs to be done in order for the start to be as successful as possible.

Choosing the right broker

No matter how many people would like it, but in any case, you will have to use the broker's platform. There is no other way for beginners to engage in trading. There is an option to work directly through the exchange, but you don't have to think about it yet.

So, in order for you to really earn money without obstacles from the office, you need to do some serious work, since all brokers are different. Some are engaged in fraud. Others do not provide the most comfortable conditions. Still others are quite good.

We have already discussed the rules that you need to follow when choosing a broker. Therefore, we will not repeat it again. Therefore, if you are still searching for the best platform, open the Broker Rating. It includes only those brokers who comply with all the rules, who do not violate their obligations and pay money to their traders, if they, of course, know how to earn money.

How to use binary options on the broker platform? It's simple. You simply select the option type (if there are several of them), the asset, the expiration date, the investment amount, and the direction of the trade. There's really nothing complicated about it. The most difficult part is yet to come.

How to use the binary options trading platform

We just told you what a trader needs to do to make a trade. Now let's look at this in a live example, on a real platform. Of course, many brokers have different platforms, so we can't analyze them in one article.

The main place is devoted to graphics. Usually, the same thing can be seen on other platforms, although there are exceptions.

A panel with available assets is located on top of the chart. You can adjust it by setting new currency pairs, removing old ones, stocks, indices, etc.

To the right of the chart, you can see a panel that sets the conditions for making a deal. Here you can choose the amount of the transaction that you will invest in the contract, the expiration date, and the direction of the transaction.

Note that brokers can also use various indicators for analysis. Unfortunately, such features are not found on every site. Therefore, for high-quality technical analysis, you can additionally use a live chart or third-party trading terminals.

How do I start earning consistently?

The most difficult stage of work is to ensure stable earnings in trading. Making deals is easy. But in order to make stable money using binary options, you need to have an extensive knowledge base and trading experience. You need to be able to analyze and predict the market. We do not recommend using options without this option. More precisely, you can use it, but not with serious investments.

Technical analysis, fundamental analysis, money management. All this and much more must be mastered in order to earn money in trading. Training can take months, and some even years. At first it will be difficult, but then it will definitely bear fruit.

Of course, we are not saying that for the next six months you can not expect to get a profit at all. You can start earning money in a month, if you approach it correctly. But you can get really big money only if you become a professional.

A few final tips

So, how to use binary options? First of all, you need to decide on the place where you will trade. After that, you need to develop as a trader. And in any case, do not try to play on options. Learning is good. Gambling is bad and can lead to pointless loss of money. However, we would like to add a few tips to these 3 sections.

Don't invest too much money until you're ready. Deposits allow the trader to prepare psychologically for real trading. But at first, we don't recommend investing more than you are willing to lose. The fact is that a beginner has a higher chance of losing money than earning it. Therefore, it is better to save your savings until you are confident in your abilities.

If you want to earn a lot of money, it is better to work with several brokers. In this case, we are not even talking about thousands, but tens of thousands of dollars. All brokers are kitchens. It is not profitable for anyone that traders constantly earn money. If you reach the unspoken level that many brokers have, you will start to get stuck in the wheels.

But each broker has its own levels. Someone will not be satisfied with the fact that you earned $ 200, and someone will withdraw $ 10,000 a month. In order not to get into a mess, we recommend that you do this:

- Choose several reliable brokers;

- Distribute a large deposit across several platforms and simultaneously trade on them.

First, this way you are more likely not to reach the limit of the amount that the broker is willing to pay. Secondly, you will be able to diversify your risks. If one broker starts to create difficulties, you will still work successfully with others.

So, now you know how to use binary options, and what you need to make trading as efficient as possible in the future.