In binary options trading, at the beginning of the trading session, traders decide what to trade today . This decision can be based on many factors.
In this article, we will answer the question: “How to choose an asset for trading binary options?”
. This will help both novice binary traders and professionals to expand their search for trading opportunities. You need to trade when there is a signal, and not when you want!
Search for assets by news
One of the most popular systems for finding trading assets for binary options is the monitoring of news and important geo-political events. When checking the economic calendar , look for the assets that have the most news. By reading and checking world news, you can find a connection between the event and its impact on the asset. Such connections can be found quite easily. For example, knowing the relationship between oil and the dollar, it is possible to predict the movement of the currency, with the news in the Middle East. Since the Arab countries have the lion’s share in the oil industry. That doesn’t mean you’re doing fundamental analysis, no. You are looking for assets that will have high volatility. This will open up a lot of trading opportunities and show which assets are the best to trade.
Selection of assets by indicators
This system is popular among those who trade binary options on technical analysis. You need to choose an indicator that shows you which deal to prepare for or signals what not to do. For example, the STOCHASTIC binary options indicator. We know that when it’s below 20, we can’t sell. Since the market should move up. After identifying binary assets that signal a clear trend change, we begin a full analysis and make a decision on trading. An example of a rule for searching for an asset by indicators: Search for assets that have an RSI above 70 on daily charts.
Selection of assets by strategy
This way shows traders immediately where the binary trading signal is preparing to be. After a full viewing, a list of potential assets is compiled. Since all the rules must be followed when trading on binary strategies, it is necessary to monitor these assets until the option signal is fully completed.
Selection on the following chain: Monitoring – Tracking list ->> Opening positions on a full binary options signal.
Pattern Monitoring & Preparation
By trading on graphical models, models are selected that begin their formation. By tracking, the trader can identify the trading chart pattern in the initial stage. After that, we monitor the changes and prepare for trading. We must not forget that in binary options trading, you can trade for very short periods of time. Therefore, the formation of graphic models will be frequent. Thus, the trader will not waste time, but will immediately start trading. Planning trades reduces the number of negative trades.
Planning and preparation for bidding
Victory loves preparation. This is one of the most important rules in binary options trading and in general in the financial markets. Traders who make a detailed trading plan show better results than others. We can often hear that brokers are waiting for the news to come out. What for? Because professional traders PREPARE FOR TRADING. Waiting for movement and looking for trading opportunities all the time.
Inference:
If you decide to start making money with binary options. If you have chosen
an honest binary options broker
, you need to prepare for trading. Don’t forget, without prepared you will lose your money. If you search for options assets correctly, use options strategies, your chances will increase significantly. Trade like professionals, develop your skills, this is what will make an amateur a professional binary options trader.
Tagged with: Binary Options Academy • Risk Management Binary Options
