Binary options trading is a boon for any beginner investor out there who wants to try his or her hands in this particular field. The best thing about binary options is its simplicity. You can exactly know how much you are going to make if your prediction comes to be right. This usually amounts to 70-95%. Now, there are usually two types of binary options signals available online. For one you have to pay to get its services while others offer you its services for free. Now, many people think that free signals for binary options must be a scam as why a company will offer its signals for free when they can make money from it. The objection is quite valid but not entirely true. Most companies, later on, monetize these free signals by legitimate means.
This is how you can set up a trade as a beginner:
In order to win a game, one must need to know its fundamental features first. The same principle applies here in the binary options trading. You need to know about certain terms like strike price, expiration date, settlement. Every trade that exists has an expiry date. When this expiry date comes to an end, the price varies according to the type you have selected which determines whether you are in profit or loss.
Know about different types of trades with their different variations:
There are mainly three types of trades namely; In/Out, High/Low, and Touch/ No Touch. In High/Low, one has to predict if the price of an asset will go up or down. Here expiry times can be quite low. The trading involving price consolidations and breakouts come under In/Out. Touch/No Touch option depends upon whether the price action will touch a price barrier or not. Knowing all these while testing waters will help you to boost your career in the field of binary options signals.