HOW TO EARN A LIVING WITH BINARY OPTIONS

  INTRODUCTION
         Binary options ( also known as digital options, two way options, and all or nothing options ) are a quick and easy way to trade any market – like stocks and Forex for example. Instead of the usual trading methods that deal with many different factors – like stoploss, lot size, account management…etc – what you would be doing here is a simple process: you need to predict the direction of an underlying asset within a given time exp
HOW TO TRADE BINARY OPTIONS

         First step is to select an "asset", it could be a forex currency pair, commodity, stocks or indices. Next step is that you need to decide if this asset is going to go up or down during specific time period which is called the "expiration time", then proceed to place a trade. If you think price will increase, your order is a "call option". If you think price is going down, your order would be a "put option".

HOW ARE PROFITS MADE?

        When the expiration time is over and your prediction is right, then you will collect the profits agreed upon with your broker. If your predictions are wrong, you lose your money. But you don't have to be %100 right when you're trading binary options. That's why so many traders are attracted to it. For example, if you're using binary options to trade Forex, you need to be correct for at least .0001 move. And if you're trading stocks you only need to be right by at least one penny. If you are right, by at least these minimum amounts, then you'll get FULL payment for your trade.

 WHY BINARY OPTIONS AND NOT FOREX
1 – It's a lot easier to understand than normal Forex trading. Basically, binary options trading is a simple yes/no game! There are no complicated or difficult variables/expressions like lot size, market orders and limit orders, etc
2 – No margin calls. That means you wouldn't wake up one day and find out that your losing trade/s just wiped out your entire account or most of it, and you just received "the call" from your broker.
3 –No Spreads, No Stop loss. one of the most important advantages of trading binary options is the fact that with this method, there is no stop loss needed. you're simply predicting price movement without any need to place an actual "trade" so you don't have to use a protective stop loss. if your prediction is right, you get profits. If it's wrong, you lose. It's that simple.
4 – Limited Risk. Unlike normal Forex trading- if no money management measures were taken- binary options are very limited in risk because you know in advanced the maximum amount that you're allowed to lose.
 HOW DO I BECOME A SUCCESSFUL TRADER

         To succeed in this business you need to forget hitting your search engine for a simple “system/stategy” or a group of rules that can be followed in a mechanical or mindless way. Its either you believe  me now, or squander your money trying out the systems/strategies you find online and then believe me later. There are no quick or  simple ways to succeed in any business, least of all trading. It takes knowledge, persistence, discipline, and tons of experience. You need the knowledge of an experienced professional who trades for a living to shorten your learning curve and to keep you from spending years sifting through the hundreds of trading strategies that make money only for the ones who’s selling them.

                                                    THE BIG THREE

These are the three basic and most important things you will need in order to beat the odds and become a successful trader:

1. You need persistence to stick with the learning process long enough to gain the critical mass of experience you’re going to need to turn the corner and start making money on a consistent basis.

2. You need discipline to wait for high-probability entries. You should be disciplined enough to silence your emotions when you are on either a winning streak or loss. These moments really define a trader and you should be wary of that.

3. You need a great deal of experience to trade for a living. Experienced traders have knowledge that goes beyond their chart patterns, formulas and written explanations. I call it a sixth sense. It gives the professional traders an edge that can only be gained by experience.
          A great trading plan, written out and followed intelligently and consistently, will help you gain the necessary trading experience more quickly than most other traders…but it’s not going to make you a professional overnight. If you accept these facts, I can help you... probably more than anyone you’ll meet in this business.

         For now, I’m going to assume that you’re a trader who’s not completely satisfied with your current strategy, and  is looking for improvement in some aspect of their trading or your a total novice who wants to learn the act of trading in order to become successful. The first thing you need to do is to become willing to forget any of the common trading rules you’ve learned because the strategies in most books and web sites tend to teach certain habits that I consider self-destructive. A CONVERSATION WITH A WISE MAN ACROSS THE TABLE IS WORTH MORE THAN A MONTH STUDY OF BOOKS.

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