Trading binary options is much simpler as compared to trading forex. You don’t need to worry about the stop loss and the take profit targets. Return is fixed per trade. It is 75-85% per trade depending on your broker. Risk is also fixed. It is the amount that you invest. However just like forex, in order to succeed with binary options, you need a system that makes more winners than losers. Developing your own system can be time consuming and can take a lot of hard work. Another option is to buy an already developed system that has a high winrate. It will cost money plus trading with this system daily will require work that might involve sitting infront of the charts for many hours.
I generate my own signals. It takes time to generate a good signal. You need to sit infront of the charts for 4-6 hours daily to generate 2-3 good signals. In trading, timing is of essence. If you miss the train at the right time, it becomes late to catch the move. Once you miss a good move, you will have to wait for a few hours for the next move to develop. What I have seen with experience is that maximum that I can generate is 3 signals daily after that I start making mistakes and lose.Trading is a game of patience and discipline. You need to avoid over trading as it will tire you and force you to make costly errors. What I have seen is that when I try to rush, I lose. The maximum signals that I can generate daily is 3. Most of the time, the winrate is 100%. When I become greedy and try to generate more signals something like 4-6, I lose. So I don’t generate more than 3 signals daily.
In this post, we are going to learn a very simple binary options signals strategy that only requires you to read the email and enter the trade on your smart phone as recommended in the email. After that the trade is set and forget. You don’t need to check the trade again.So in essence, you will be reading 9-10 emails daily on your smart phone with this strategy. You might have read my earlier post where I explained a simple binary options strategy that does not require you to generate your own signals. It is easy. You might want to read that simple binary options strategy post again. This is a simple strategy that can be easily implemented. This is a good signals service that I also use in addition to generating my own signals. You get 3 signals around the same time daily. So once you get the signals daily at the same time, you can enter them and that’s it. As I pointed out in the above post, proper money management is the key to long term success in trading. Just follow the money management plan explained below and you will see your account grow exponentially. First implement the simple strategy that has been explained in the above post. Once you have successfully implemented the strategy, you might want to increase the ROI per month. If you want to increase the ROI per month, read below how you are going to do it.
This binary options signals service has a consistent winrate that is around 70% with 3 trading signals daily. Now they also offer more signals. You can get a total of 9 signals daily. Suppose the average monthly winrate is 70%. With 9 daily signals, you will get a total of 180 signals in one month. 70% average monthly winrate means you will win 126 trades and lose 54 trades in one month on average. If you start with $20 trades, in one month you make a return of $4410 and lose $1080. So your account equity at the end of the month will be $3330. You will need to start with a capital of at least $500 in order to successfully implement this strategy. However with this strategy on average you should be doubling your account per week.