making money with binary options trading in Nigeria has become one of the latest trend and topic discussed by many on the internet via forums or website blog.due to this trend, some people would be asking
what binary options trading is all about and how they can start trading too.well, i will share with you today on
what you need to know about binary options and how to start it.
for those who don't know exactly what this is,just read through as i will explain it in a lay mans language for you to understand.
binary options trading as the name implies is a form of trading on instrument such as
currency pairs, commodity, stocks, indices,random index etc.through this platform, one has to place a bet that a certain instrument such as currency,stocks, commodities,indices,random index etc will either rise or fall within a particular time frame and if your prediction is right,then you end up winning the money.you can place a bet on either 60 seconds,minutes,hours,days,weeks,month etc provided your predictions is right.sound easy and cool isn't it.well, i have to tell you the honest truth that many self claimed guru will never tell you, binary options trading is not that easy for a beginner,you need to have
Forex trading knowledge to become a professional in trading binary options.
many people make use of Forex indicators to trade binary options and you too can do same but you must learn the in and out on how to trade binary options else you would have your self to be blamed.one of the mistakes lots of beginners have made and still making is not learning how this market works.
binary options trading is far from just placing bet on whether an instrument will rise or fall,there are other types of trade options which includes touch, No touch, in and out (stay between ,goes outside), tick trade,up and down, etc.
the most popular binary options trading type is the rise/fall trade which you will have to predict if the price of an instruments will rise or fall from its current price when you entered the market.if you want to enter the market (buy or sell in the market),then you will either choose
CALL or PUT.CALL/PUT is a binary options terms used in placing buy or sell order.
CALL means you want to place a bet that the market will rise within a specific time frame from its current price while on the order hand, PUT means that you want to place a bet that the price of an instrument will fall within a specific time frame from its current price.
if your predictions is right when the time expires, then you have won the bet but if the trade goes against you, then you lost the bet.
you don't have to predict the amount at which the price will rise or fall,you just have to place your bet that the price will rise or fall after watching the price movement on your chart and making analysis.
there is a chart software which you can use to monitor the price movement of any instrument you wish to trade and make analysis.they have two kinds of chart client for checking price movement of the instruments you want to trade and this includes a
web base charts client and
software base chart (for computer and mobile phone) which you can use provided you are comfortable with it.
the most popular chart client software being used is called
Meta Trader4 (mt4, mt5) which i will also recommend because that is one of the best free software you can use to check price actions movement and also make analysis. most of the others like Fibonacci, ninja trader are not free.
so download meta trader 4 online and install it on your computer to get familiar with it.
you may say, why do i need meta trader4 software when i am not trading Forex,you need it because the price feeds in Forex market is also same with binary options.so the movement of price in your chart will reflect on your binary options trading platform because it makes use of same feed price movement data.
regardless whether you are into binary options trading or Forex trading, the price are same for the instruments you intend to trade on except random index which is being controlled by the binary options broker.
the instruments you will be trading on include USD,EURO,POUNDS (GB),YEN,AUSTRALIAN DOLLARS(AU),SWISS FRANC, STOCKS ETC.which ever you know you can trade perfectly well,it is up to you.
so if you want to start making money from binary options trading, you will need to learn and have a binary options trading strategy.the best knowledge i will advice you to seek for when it comes to binary options, is knowing how to read candlestick charts and Price Action.this is one of the important knowledge you should have before engaging in this type of money making scheme.do not start with all manners of indicators as a beginner because that is one of the mistakes newbies make and you should not make same mistake,indicators work best when you have candlestick chart knowledge and top it up with price action technique.
in my future posts, i will be sharing a lot of binary options trading strategy and also Forex trading strategy,all this will be shared on this website,so i will advice you to subscribe by email so as to be among the first to be getting latest updates on binary options,sport betting, Forex trading strategy.
one of the popular binary options trading website being used in Nigeria and lots of other country is called
betonmarket (binary.com). you can create an account with them ans start practicing using their demo trading options which has a virtual $10,000 for you to use in practicing without involving your real money.so after you have practiced and learn how to trade from the demo, you can then upgrade your account by clicking the upgrade button At The Top from the website Using The Email You Used For Practice And Your Real Information to start placing your bet with real money.so create an account with today to start trading binary options at Betonmarket
Binary
if you have not created BETONMARKET BINARY ACCOUNT,
CLICK HERE TO REGISTER FOR FREE
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