Most people are familiar with high/low, call/put or up/down binary option trading type. All of these are the same and the only difference between them is in its name. As binary options trading is becoming increasingly popular, mostly because of its simplicity and high returns, people are looking for ways to trade faster and gain more. This is where 60 second trading comes in.
What is 60 Seconds Trading?
60 second trading is one of the shortest possible binary option trading types known (now there’s also a 30 second trading available). You will find this feature integrated in most broker trading platforms. In some cases it’s even more demanded than standard binary trading or High/Low trading which is recognised more.
This type of trading is very popular among traders who are taking decisions based on technical analysis. By analysing graphs and price changes, traders can easily predict what’s going to happen with an asset in next few minutes. Despite the fact that this type of trading is very short, decisions can be also based on news, recent changes in companies, markets etc. (depends on what are you trading). If you understand in which direction a price goes all day long, many short trades can be made during a day and you can benefit from that.
Similarly as it’s with High/Low binary option trading (which it actually is but with shorter expiration times), in 60 Seconds trading you also need to decide what’s going to happen with a price of an asset. You need to predict if it’s going to increase or decrease. Also, you must bear in mind that your trades are going to be very short – 60 seconds, and to get profit, your prediction must be correct at the end. If you believe that a price of an asset is going to increase after 60 seconds then high, call or up option must be chosen, if you believe that a price is going to decrease then low, put or down option must be chosen to gain profit.
The only difference between standard High/Low and 60 Seconds trading is that these trades are very short deals and they end after 60 seconds.
Few tips when trading 60 second binary options
- Consistency – when trading quickly, traders tend to lose their focus and trading discipline. Try to develop a pattern that helps you make decisions faster based on rules developed by you or a trading expert. Once you have a set of rules, try to update the rule list with more precise features. It may drastically change the way you trade and provide you with better returns.
- Diversification – try to split your account money in portions and trade no more than 1/12 of your account balance per trade. If your account is larger (i.e. more than €1,000), it would be smart to divide every trade even in smaller portions to hedge against a potential loss as well.
- Don’t get greedy – know your limit. If you’ve decided that you want to achieve a certain amount, make sure you step out of the game once you do that. Set a goal for each day and don’t get greedy. If you’ve achieved your goal, go out and do something else and return the next day.
- Don’t gamble – guessing may be profitable for some time but it’s not a long term strategy. Make sure you have a binary option trading strategy that you’re following and developing further every day.