60 seconds is not a lot of time, right? But you can accomplish things in 60 seconds; write a clever tweet, brush your unruly hair, drink a glass of pure, cold spring water, start and complete a binary option trade. Huh? What’s this about a 60 second binary option trade? Read on.
A binary option trade is one where, in essence, a trader places a bet that she can correctly answer a yes/no question. Think of it this way. A broker puts out the prediction that the price of frog legs will close out the day between $1.50 and $3.02. The trader agrees or not and places what is, basically, a bet to backup her instinct. If correct, she earns money, if not, she loses number. And now this entire process takes only 60 seconds. Zoom.
Sound Enticing? Some Tips for Winning at 60 Second Binary Options
If you like to take your time over things, are easily distracted or panic in intense situations, just walk away. 60 second binary option trading is not for you.
Do Your Homework
It is extremely important that you are prepared before you dip your toe into 60- second binary options. Becoming familiar with the specifically how to place a trade; from clicking an up or down arrow to understanding supplied charts. Popular sites offer tutorials where prospective traders can sign in and practice placing trades; this is absolutely something you should do before you get started.
A second worthy homework assignment is to research online brokers and find out which are reputable. Fraudulent players are randomly scattered among the legitimate brokerage sites; make sure you sign up with a prolific site with a solid reputation.
Traders who earn small amounts of money their first few 60-second binary option trades will sometimes react by quickly ramping up their investments. Take time to get used to how these extraordinarily short term trades work; the longer you keep your investments low, the more prepared you will be when you begin to take higher risks.
Invest in a Stable Internet Connection
A fast, stable Internet connection is a necessary tool for the 60-second binary investor. Information speeds toward you and you need to see it as it comes in. If you’ve any issues with your Internet server, it is time to sort them out.
Did it take you 60 seconds to read this article?
These tips should be enough to get you started on your quest to become a 60-second binary option trader. Good luck.