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Peek Into My Live Binary Option Account

In this post, I am going to show you a video of my live binary option account so that you can see the various features of the broker I am using and please watch this video to the end as I was lucky enough to see a trading opportunity for my KB5 strategy during the recording of this video. Continue Reading

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My Binary Option Experience

Actually I was introduced to binary option by one of my friends after a few years of trading forex full time. After listening to his explanation about how binary option can work hand in hand with my current trading, I decided to find out more about it. In the end, I got into it and now I am making a consistent income with it. However things did not start off smoothly for me when I get in touch with binary option trading as I am pretty new to it.

Using my experience in forex trading, it took me close to 6 months to slowly fine tuned 3 binary option strategies that allows me to make a consistent income till today. But first of all, let me tell you more about binary option just in case you are new to it.

So What is Binary Option

If you have trade options before, you will have some understanding on how it works. However if you do not have any experience with options like me, this is not rocket science.

What you do in a binary option is to either decide whether the currency pair you are interested in is going to rise or fall within the next 60 sec, 2 minutes or even 5 minutes depending on your own preference. If you think that it is going to rise, you will choose a CALL (HIGH) option. If you think that it is going to fall, you will choose a PUT (LOW) option.

Let says that you have enter a CALL option and the currency that you trade on ends up with one pip higher than your entry, you will make a profit based on the percentage given. Do note that different currency pair has different payout.

For example:

You can see the picture below; the EURUSD pair is having a payout of 75%. If you enter $200 to purchase a CALL (HIGH) option as you believe that the price will rise above the current level for the next hour and indeed it ends up higher. You will make a profit of

75% of $200 = $150 and your total payout will be $350

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Is Binary Option Suitable For Beginner

In fact, the binary option suits both the new traders who has no experience as well as those experienced trader. As a experienced currency trader myself, I will do an analysis on my chart and I will use the binary option together with my trading.

For example, I saw a valid trend line break on the hourly chart and I decided to enter a LONG trade. After I have placed my stop loss and target profit, I will go to my binary option account to choose a CALL (HIGH) option.

If it is a valid trend line break on the hourly chart, it will always move above the trend line for the next hour before it may comes back to retest the level.

At the end of an hour, even if the price has not hit my target profit on my forex platform. I will still make money from the CALL (HIGH) option that I have purchased as there is no target profit with the CALL (HIGH) option, as long as the price is higher than my entry level, it will make a payout.

With the profit made, I am now able to cover the trade even if the price came back to stop me out.

Advantages of Binary Option

No Stop Loss – I understand that new traders tend to have problem with the placement of stop loss. With binary option, you do not have to worry about placing stop loss as your loss is being fixed to a certain amount. From the picture below, you can see that there is a “Out of the money” statement and that is the amount you will get back if you are wrong in predicting the direction of the market.

No Target Profit – Unlike normal trading where you have to worry about your target profit. With binary option, there is no target profit. As long as the price close one pip higher than your entry, you will make money if you enter a CALL (HIGH) option.

Good Payout – Although the payout is not as high as what you will get from your normal trading which can sometime vary from 1:2 or 1:3. It is considered a good payout as you will make 73% profit even when the market closes one to two pips in your favor.

Higher Probability of Winning – In the case of normal trading, we will only make money when the price moves and reaches our target profit. Let says that I enter a trade and place a target profit at 100 pips, even if the price moves to 90 pips, we will not make any money.

However if we enter a CALL option and the price ended with 5 pips higher than our entry, we will still be making money.

Personally I will recommend anyone who are interested in trading to learn how to trade binary option as it is very easy to learn. However you must have a good strategy on hand in order to make consistent profits from it. You can never make any consistent income simply by guessing in binary option trading as it will be equivalent to gambling in a casino.

I have written a blog post to share with you Effective Binary Option Indicators that you can use to trade everyday. I understand that there are a lot of you guys who are trading without a proper strategy on hand and this is very risky.

Click Here To Learn About Those Indicators

 

 

 

 

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