Binary options trading has completely changed Jimmy`s life and he wants to share his story with other traders and 7 Binary Options readers.
Everyone dreams, as I did, of earning additional income with little to no time or effort. After years of wasting my time on unprofitable means of making additional income, I knew there had to be a better way. Now I can honestly boast that I am earning about £800 – £1500 every week with little time or effort, just a few hours. And I can do so from the privacy of my own home. I can even make trades while I am on the go. The additional income has been more than enough to provide me with the lifestyle I have always dreamed of for myself and my family.
Let me introduce myself. My name is Jimmy and I am an average white collar worker with a job that brings in a mediocre, but consistent, paycheck. However, when my wife surprised me with the news that she was expecting twins, my entire world was shattered. I really wanted her to be able to be at home with our babies so I needed to figure out how to provide for my quickly expanding family.
A colleague at work introduced me to the exciting and lucrative world of binary options trading after I opened up to them about my impending anxieties regarding my lifestyle changes. I was quite trepidatious at first, as I was sure that was just another dismal attempt to earn some extra cash that would fail miserably. However a few days in, I was feeling quite confident about my decision to go with binary options trading. It was a real eye opener. It not only gave me the extra income for which I so desperately yearned, but it gave me extra time to spend with family as well as enjoy my hobbies which include gardening and fishing.
Admit it, you are interested and want to know how binary options can work in your behalf. If I can do it, anyone can make a go at binary options trading. It is really simple from the science behind it to the process of executing trades. I had no prior knowledge about the money market or any of the financial lingo, as well as zero trading experience. Binary options trading was indeed the most beneficial type of trading for those who have little to no experience in the financial trading market and want a simple solution that can easily earn them £350 from the comfort of their own home.
The only things you require to begin trading a few minutes a day online with a decent internet connection (either at home or mobile) and an account with a binary options trading broker. I prefer to execute my trades on the commute to and from work as it saves time. Actually, my trading has reached such a level that I am considering quitting my job and making binary options my full time job. I believe i have formulated a binary options strategy to perform my trades that is both simple and highly profitable.
Allow me to break it down for you. Of course, when I first begin trading I was not aware of the amount of risk involved in this industry so I did not want to wager high amounts of money in case it did not go in my favor. I opened a basic account with the initial minimum deposit which was £250. I also did not allow myself to bid higher than this amount until I was able to ensure that I was able to control the risk factors. I occasionally lost a few trades initially, but the losses were small and I was nothing each mistake so I could avoid it in the future and improve my strategy. It was only a matter of time before I was able to determine a fairly easy and highly effective strategy of trading which now gives me an accuracy rate of about 90%. As i execute trades, know can earn a substantial income that provides me with a comfortable lifestyle that allows me to make future plans. For example, I execute trades by predicting the movement of an asset of an expiry time, for a just a few hours a day.
You are probably wondering what exactly is my winning strategy, correct? I have no problem sharing this with you in the hopes that it you will find it straightforward and simple to both understand and execute. The best thing about my strategy is it’s not necessary to have presupposed knowledge of the binary trading market. It also does not strictly follow the news that may affect trading rates. These factors work in the favor of others, but in my opinion, I focus solely on the market trends. In other words, I simply thoroughly examine the price charts of each asset thus focusing on determining specific trends in these charts that will indicate in which direction the trend of each asset will follow.
I have determined that certain patterns tend to repeat themselves. If you can quickly spot these trades you will be able to profit greatly as all you need to do is determine if the trade will do UP or DOWN. In order to understand this process a little better, please see the below charts for specific examples.
The UP Trend Chart obviously exemplifies the UP trend, when the price of the questionable asset is continuing to increase during the expiry time. Once you think you notice a trend, you must immediately execute a “Call trade.”
This chart illustrates the Down Trend. The price fo the asset has rapidly been declining since roughly around 14:00. Once you notice this trend, you must execute your trade urgently.
NEUTRAL trend chart
When you notice the asset price has remained the same for quite some time, this is referred to as a Neutral Trend, when you spot this type of trend it is wise to not execute a trade and hold out until you notice an UP or DownTrend.
With time and experience you will be able to spot these trends quite easily in order to generate the most profitable traces. All it takes is the ability to analyze and execute trades as quickly as possible. This has really worked wonders for me and I believe it can do the same for you.
Here are three simple steps in order to start profiting with binary options trading:
- Create an account with a reliable broker
I personally am registered with “Banc de Binary” for the following reasons. They have established a long history in the market. They are also regulated which instills both a sense of confidence in security in their traders. Their trading platform is extremely user-friendly as well as effective and very efficient. The mobile app they offer their traders enables me to execute trades while on the go. I am extremely happy with this broker and highly recommend them if you want to start trading.
- Make an initial deposit to fund your account
In order to start trading, you are required to make an initial deposit to fund your account. I find that funding my account with “Banc de Binary” is not only simple, but highly secure. I t can be done with bank transfers, digital payment or credit cards (Mastercard and Visa). I recommend that new traders only make the required low minimum initial deposit, which is most often £250. Also start by making small trades until you gain experience and confidence and are able to spot trends. Once you are able to do so you can execute higher trades thus increasing your profits and gains.
- Begin to execute trades
Once you have a funded account with a binary options broker, trading is quite simple. All you have to do is choose the amount you wish to trade, the expiry time and most importantly, the asset. Once you decide the direction of the trend you would hit the UP (Call) or Down (Put) Button. It’s that simple!
Trading binary options has made a huge impact on my life and I guarantee it can do the same for yours as well!
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