It can live off binary options? How long do you want to live on financial assets? , because this type of speculative trading is not high risk but very high risk. In a very short time you can earn an amount of money that you cannot imagine and in that same small time you can lose as much or more money than you did.
Well, they are operations that are carried out in a short time, it may be that your financial situation changes in 60 seconds, half or an hour, because what you earn will depend on whether you get the prediction on the low or high of currencies.
Is it possible to live on binary options?
If it is possible to live on binary options? Saying yes would be a very quick response, since in a matter of seconds or minutes you can win a lot or lose everything, so it is a business aimed only at certain people who follow strategies and have analytical skills.
Strategies for living off binary options
Assuming that you are an organized and decisive person when following guidelines without getting lost along the way, then follow these strategies:
You are about to start in a financial market from which you must collect information. It collects information on all the news that may appear on the financial market along with analysis, currency quotes and everything that may arise from rumors on this topic.
- Before starting to operate in this market, trace capital management. Analyze the diversification of risks, what is the best percentage of reinvestment ?, that is, you will start investing defining a certain amount of money, well if you have analyzed the market correctly, it is very likely that you will win and you can multiply or triple that amount initial money. So now you will reinvest, but what percentage of the capital + earnings will you allocate to reinvestment?
- You have made a plan, always keep it in mind. Never get carried away by emotionsBecause how little or how much you earn should not be a condition for you to exceed the percentage you planned to reinvest.
The initial capital to live on binary options
Initial capital is essential for live off binary optionsIt is not the same that you start with an investment of 10 dollars than 100 dollars, nor is an expectation of real profit the same as the fanciful idea that binary operations can save your financial situation in a short time.
If you have decided and you are a person with real expectations, start with a DEMO account, since through virtual operations you will gain experience and you will know how your trading plan works.
In this way you will have 0 money risk and you will be learning to operate with your virtual account for no less than 6 months, as it is the ideal time for you to realize if you can obtain positive results.
So while you practice with your DEMO account, keep a record of your operations in an Excel spreadsheet, because it will allow you to realize if you are making mistakes, correct them and refine your strategy until you have drawn up a winning strategy.
Only with your winning strategy will you be able to leave the DEMO account and start trading with a real account, for which you will have to find a good broker.
In fact, platforms abound, but not all of them are reliable and that is why it is convenient that only regulated platforms ship because they are those that comply with legal requirements and have the possibility of DEMO accounts.
Basics for living from binary options
You can live on binary options, but what are its fundamentals?
- In principle, binary options or binary operations belong to the Forex market, an internet currency market from which by speculating between two of the possible results and investing down or up you can earn depending on your investment.
- The economic operator with the currency pairs, predicts the movement of that currency pair. In a few seconds or an hour the binary option will give its result and if the movement predicted by the operator occurred you will find yourself in a winning position, commonly called in the money or in the money because your investment was profitable.
- By predicting short you can increase your initial investment by up to 72%, but if the prediction was wrong you will lose your initial investment with the only possibility of maintaining the minimum percentage of the initial investment, but it depends on each broker and policies that you have read before. to have chosen it.
- With binary options when belonging to the Forex market, you must understand that all speculation on currency pairs will be carried out in a virtual market, currencies are not tangible.
- On the other hand, in the same way that you must have adequate knowledge about this type of market, handle yourself with organization and coherence, not investing more than you have planned and it is also important that you inform yourself and analyze the market and look for an operator that Be aware and adequate in knowledge about this market that can make you earn a lot of money in a short time and depending on the initial capital and your cunning will allow you to live off speculative trading.
- Speed is a quality that stands out in binary operations, which gives you more than immediate satisfaction, since in 60 seconds or in a maximum of an hour you know the result.
- On the other hand, with a minimum of experience that, as you read before, is stipulated in 6 months, you can know a market that is simple, since it is only about analyzing downward or upward trends, familiarizing yourself with the financial market and its tools. They include the charts and indicators that give you the guideline on how you should invest your money.
- In fact, it is the operator who decides if the value of the currencies will rise or fall according to the analysis that has been carried out, since if it was a technical or fundamental analysis it will have resulted in its prediction.
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