In this article we will be introducing you to some smart ways of trading Binary Options online. We cannot guarantee that you will make sustained profits from these different tips and hints. However, when you do pay attention to them, you might be able to place more winning trades than what you did in the past.
Capitalize On Bonuses
You will be showered with all sorts of sign up and welcome bonuses at all of various online Binary Options websites. Therefore, you might as well take full advantage of them. However, you will benefit even further if you can take optimal advantage of all the bonuses. The following are a couple of ways to do this.
Use Bonus Cash to Hedge Your Binary Trades
Whenever you join two different Binary Options trading websites, it will allow you to hedge your trades through using each of these website’s welcome bonus cash to place opposing trades at the two sites. So although one of the trades will end up be a losing trade, the other one will of course be a winning one. So there will be a guaranteed profit made with the bonus cash.
Watch For Re-Deposit Bonuses
An increasing number of Binary Options trading website are offering their most loyal and current customers a Re-deposit bonus. They are offered occasionally and whenever you make a deposit that qualified, your trading account will be credited with a bonus. Of course the more cash that is in your account, the better your chances will be of being able to make a winning trade.
Questions Regarding Binary Options Bonuses
The following are a couple of the most commonly asked questions that relate to Binary Options bonuses. Take a quick look at them just in case any of them are questions you have wondered about yourself since the answers to the questions are found below:
How Large Are The Binary Options Bonuses:
How much cash you are awarded in a Binary Options bonus depends on which website you’re a member of or considering joining. It is fairly common for bonuses to be offered that are worth as much as 100% of the amount you deposit. However, there could also be larger bonuses available occasionally.
Am I Allowed to Open Multiple Accounts At Each Site?
If you’re wondering if you can open several different trading accounts at one specific Binary Trading website in order to take advantage of the welcome and sign up bonuses more than one time, then no this isn’t possible. In fact, if you attempt to do that, any bonuses that you have been granted will be voided.
Are Bonuses Offered By Mobile Binary Options Websites?
You will discover that there are around the same amount of bonuses with the same value that are available at both mobile and online Binary Options trading websites. Therefore, you won’t have to make any compromises to your account if you decide to sign up at a Binary Options website using a mobile device.
Information and News Channels
You always need to keep up with all of the current news that is occurring. That is because as soon as a news story breaks it can affect the value of various commodities like Silver or Gold. In addition, any news story that can have an effect on a company’s share price or the currency value of a certain country is something you will need to be able to have an instant reaction and place Binary Options according to how the prices are being affected by current events.
There are many Binary Options trading websites that have daily news stories of their own that they offer on certain designated areas of their site. However, it is often even better to tune into a rolling news channel and watch for any breaking news stories. If you are able to get access to the news stories first, it will give you the ability to react fast and place Binary Options trades that are very well thought out.
Is Following The Money A Good Idea?
Unfortunately, many individuals act like sheep when doing Binary Options trading online. They just look at what traders are currently doing and then follow the money by placing their trades the same ways that other traders are placing theirs.
Although it may help you make profits on an occasional basis, nobody ever got rich through following the lead of another person. Therefore, you always need to be prepared for taking a couple of risks when you trade Binary Options. You need to utilize you own judgement and skill when it comes to deciding which trades you should place online.
Always try to have your mobile device with you and be ready to use whenever you need to place a Binary Options trade and you are out and on the go. The fastest way to do this is just access all of the mobile trading platforms that are listed as the highest rated Binary Options trading websites that are available.
Should I Make Use Of Early Exit Trades?
New Binary Options traders often ask us if they should take an early exit on a Binary Options trade that they placed to make sure they make a profit from the trade. When an early exit is taken, it can be somewhat of a double edged sword since you will be paying an extra commission or fee from your winnings to pull out of the trade right then.
However, if you are really convinced that your Binary Option trade value isn’t going to remain at its current level and end up moving in a negative way, that’s the only time you will want to think about taking an early exit. If you take this expensive option all of the time it will diminish your overall winning profits, and no trader wants that.
Should I Utilize A Pay Per Tip Website?
If you’ve ever encountered websites that offer tips for Binary Options, don’t be tempted to sign up if they charge you a fee. If the owner of the site has the skill necessary for choosing winning trades, then he would trade Binary Options instead of attempting to sell tips!