Binary Options – Tips for the advanced traders
On our web xbinop We focus not only on the novice traders, but also on all those of you, who have been interested in options, for quite a while. I am sure you focus only on the most profitable strategy and that’s why this site has been created. Here, you’ll find out:
1. Something more about Price Action
2. What are indicators
3. Suggested literature
4. Brokers for different types of options
5. Now, we already know a lot
1) Something more about Price Action
There has been a lot said about price actions and we all already know that they’re, for all the advanced traders, the best way, to encounter the way to enter a trade. But do you also know what types there are? How to look for a way to enter a trade? What are trend lines, fibonacci lines, internal and external trends and many more. These are things that every binary options trader should know.
You can learn a lot about them in our articles, right here: technical analysis show
2) What are indicators?
You may wonder why, once, I say that there are excellent strategies using indicators and than I say that price action, where there are no indicators, are much better. The truth is that indicators are often inaccurate. On the other hand you can often use them to enter a trade and actually win a trade with them, because they are very easy to use, suitable for beginners trading on demo. It’ll help them get some kind of feeling.
There are also a lot of indicators, that we use not for their help to enter a trade, but rather for their simplicity and clarity. I’ve written about some of them here: important indicators.
3) Literature worth reading
Literature and Education are the most important things in this game. There is no doubt about it. But what books do I read? Let’s have a look at the list.
- Long-Term Secrets to Short-Term Trading – Larry Williams
- How to Make Money in Stocks – William O’Neil
All these book are available online and you can buy them cheaper in auctions or maybe rent them in your library for a fraction of the price of the new book.
4) Brokers for different types of options
I am sure you already know, there are a lot of different types of binary options. I am going to put down a list of best brokers for each type of options and will also tell you why.
>Short-term options(60 seconds, 90 seconds, 120 seconds) – StockPair. Their response is amazing. The moment the countdown ticks a zero, the option expires. This is not very common and usually you have to wait 2-5seconds. Additionally, if right before your click the price changes even for couple of pips( bigger fluctuation), the application will ask you, whether you’d still like to buy the option.
>High / Low option (5 minutes – 60 minutes) – Stockpair. Stockpair has a beautifully arranged platform. In addition, maybe this broker is the only one that offers you exact expiration times. Other brokers will give the expiration times up front( for example 12:45), so your option can expire in 7 or 22 minutes. It’s never the same.
> Long-term options (hours, days) – TopOption. Topoption offers a nice percentage of earnings plus the possibility to re-sell the option. If you see that you might lose the option and you’ll realize it on time, you have the possibility to re-sell it and get a payback of the part of the purchased price. If the options is currently profitable and you are afraid that it might turn the other way, you can also re-sell it and collect a little profit.
> Touch / No Touch option (short-term) – TopOption Beautiful function of a short-term Touch/No Touch options that is offered by a TopOption. I haven’t seen a shorter one then couple of hours, anywhere else. In TopOption it’s for instance an hour or half an hour 🙂
5) We already know a lot
Do you think you can’t learn anything new from me? Do you think you know stuff that you haven’t found on this website?
Feel free to share it with us. Let’s help each other out and built a community, where people will share tips and tricks, so we can all get better. I am sure,I won’t be the only grateful one.