Trading binary options gives a new meaning to investments as it veers away from the complicated and laborious nature of traditional stock and forex trading. It is the newest method of investing, and it can be done by any interested individual who has access to the Internet.
The remarkable feature of binary trading is that everyone can learn and master how to trade binary options. It is easy, simple, and does not require thorough understanding and knowledge of the ins and outs of the business of trading. All it requires from you is enough determination, focus, and patience for every trade to expire profitably.
The core principle of binary options is straightforward: you must correctly predict if the asset price will be higher or lower than its strike price within a given period. If the prediction is correct, you will gain profits from that trade; otherwise, your investments for that order are lost.
For instance, you choose to trade the currency pair BTC/USD. If you wish to earn profits from this asset, you will choose it for your contract, invest in it, and decide if its value shall rise or fall. Depending on the broker, different trading products may become available. Feel free to use the one that you are comfortable with, and there is nothing wrong with selecting the basic High/Low product.
With this, what is needed is to make a prediction, choose an expiry time, place a bet amount, and confirm the contract. The result of this trade depends on the selected expiry time. Once it is done, though, the results will automatically appear and reflect a profit gain or loss.
A few reminders when buying / selling:
If you don’t plan on holding the GHS you’ve purchased, set a relatively close sell price. Since I know the price can easily be swayed + or – 0.001 BTC per GHS, I normally put my sell price around 0.001 BTC higher than what I bought it for.
Having a strong understanding on how to trade binary options is absolutely important to keep the losses to a minimum. Nevertheless, as soon as you have become more familiar and comfortable with the Bitcoin binary options winning strategies, the success of your future investments is guaranteed. So, take some time to understand the whole procedure and market condition and then make a movement for trading bitcoin.