Those who decide to trade with binary options usually already know about the functional principles of the essential trading strategies with which both beginners and advanced traders can successfully trade with binary options. An important point, which had not yet been clarified for me in the run-up to my trading project, was the question of exactly what I wanted to trade at all. Finding the right broker is anything but easy: Many of the test pages and comparison portals cooperate with the operators of various brokers. This means, for example, that a fixed amount can flow from the operators of the brokers to the site owners per brokered new registration. This point already lets assume that perhaps not all sides, the result representation in such objectively and for the undecided user goal-prominent represent, as this would be always desirable. Therefore read and benefit from my experiences how I took my first steps in the field of trading with binary options.

The Choice of the Right Broker is Crucial

The choice of the right broker – I was sure of this right from the start – would be decisive for my success in trading with binary options. After long research on various portals and in forums, which only discuss and analyze the advantages and the users of the various brokers, I decided for the provider BDSwiss. BDSwiss has also often won independent tests for several reasons or achieved a high number of test points. The opening of a new account was possible very quickly in my case and the first deposit was made within a few minutes. The fact that the provider is subject to an official regulatory authority, the CySEC, offered me the necessary degree of security and the certainty that I am using a competent broker with whom I would trade profit-oriented binary options. The minimum deposit of EUR 100 was such that I could pay it without being a large earner. Quite nice on the side: The broker also offers a residual value of 10 percent for each expired option.

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BDSwiss offered me the prospect of attractive returns right from the start: In combination with the 10 percent residual value regulation, I was able to achieve a return of over 12 percent despite an initially cautious hit rate. This is calculated by BDSwiss paying back a return of 81 percent in the event of a profit. Together with the residual value of the options, even a hit rate of just 58 percent gave me a not inconsiderable profit. That was a great success in the beginning, because let’s be honest: That we wouldn’t become a millionaire from now on without previous knowledge should be known to every rational thinking person, when he plays with the idea of the adventure “Binary Options.

What value to speculate on?

Basically – and I had to learn this quickly – it is difficult to decide per se on a particular value in which to invest. Different values and options are available: In addition to equities, binary options also make it possible to opt for trading in commodities, currencies, indices or precious metals. Which value is actually selected individually is of course decided by the trader himself, whereby current trends and observable market developments are of great importance and should influence the decision: I decided to trade commodities. More specifically, I decided to trade crude oil because the price trend at the time, when I had more time to trade binary options, tended to be clear and offered speculative potential.

Ideal for beginners: The 30 or 60 second trades

Especially in the area of beginners, trades with only a short maturity are made for you: Long-term developments do not have to be foreseen or play a not so big, almost negligible role. Also positive with regard to trades with only a short maturity: You can see relatively quickly which speculations are actually crowned with success. Already in the first week in which I became active in the context of the binary options, I managed to generate a profit of around 100 euros in this way.

Predict the development of candles: Individual strategies

Of course, there are countless supposed tricks that can convince every beginner that they can win money quickly and above all reliably through binary options. Of course this is not as easy as many sites and Youtube videos claim. That’s why I also started with relatively small bets on short trades. If you have a little experience, you can of course also switch to trades with longer duration and apply your knowledge in this area.

In the context of the individual strategies there are naturally extremely different opinions, how one can earn money as surely and fast as possible with binary options. For me, as a beginner, it was a matter of course to only do what the market offered and what was plausible and justifiable in the context of the developments. So I did not speculate against the general trend. My rule of thumb, with which I am still quite successful today, is that I always bet on “Call” when the last three or four candles had a negative tendency. The probability of a profit was always high when the tendency of the negative (red) candles was decreasing, i.e. the tendency was to become a positive (green) candle. The same was true for speculation on a “put”. Here, too, I first waited for three positive (green) candles, which were decreasing in their tendency, and then speculated on a “put” at the fourth or fifth development.

Today I trade news-based

To trade news-based means to observe the news all over the world and to make decisions for the speculations regarding the development of the trends with the help of this information. In 2015, for example, I was able to get important clues about the development of crude oil by keeping an eye on the oil price trend in the US: Fracking in large parts of the country led to a surplus of oil on the world market. So it was foreseeable for me that the long-term development of the crude oil price would probably be negative. Since the price development from day to day did not have such an impact, my just mentioned example of crude oil at this point is even one of the kind in which trades with a longer term are the better option.

But of course I also had to acquire this knowledge first. Today I also follow political news and news tickers, among other things, in order to accurately predict developments in the area of important company shares! It should become clear to everyone: Whoever wants to trade professionally should not only speculate on a positive or negative share price trend in the short term, freely after snout, but also underpin his decisions with current news from politics and economy. Who creates this, has good chances to be successful with binary options and to earn much money!

 
Experience report written by Armin, 42 years, from Nordhausen