In the dynamic world of Binary Options trading, nothing can be taken for granted. The constant fluctuating prices, vague market forecasts and countless trading strategies have made the Binary Options trading rather intimidating for beginners.
However, there are a few things that are promised to help the trades regardless of their trading experience: the thorough market analysis combined with the Price Action Binary Options strategy never fails to success.
Though being aware of the external factors that influence the price of the asset you are trading is important, a successful trading session cannot be executed without analyzing the movement of price through time.
Here is where The Price Action Binary Options Strategy enters the stage!
By using the Price Action Binary Options strategy, you, as a trader, make all your investment decisions based on a simplified price chart that excludes studies such as moving averages, oscillators or momentum indicators.
So, in order to execute the trade using this, you need a price only chart that enables you to modify specific time periods.
The charts used in this process can vary from bar charts to candlestick charts; as long as they are clean and simple to use and as long as they deal only with the price movements over time, they can do the job well.
What makes the Price Action Binary Options strategy different from the others out there, is its simplicity. Its main feature: the uncluttered charts that are easy to follow, are newbie-friendly. Therefore, they are recommended to use by pretty much everyone who wishes to profit while trading binary options.
What makes is even better is that this strategy gives you the chance to observe the situation from different perspectives by analyzing multiple time frames.
Analyzing 60 minute, 240 minute as well as daily charts while trading on a 15 minute expiry time increases your chances of profiting and closing ‘in the money’. By doing so, you can scan the price movement in multiple time horizons thus enabling yourself to make the profitable decision.
However, even though analyzing can be of great importance, over-analyzing can have an opposite effect. Studying all time frames available is not only time-consuming but counterproductive! It makes you overly-intimidated by the risks thus making you afraid of taking any action at all.
Understandably, striking the right balance is difficult, especially for beginners for they tend to get carried away easily! The key is in approaching it with a clear vision: The Price Action Binary Options strategy is nothing but a helper on your way of Binary Trading success.
Knowing all this, the only thing left to do is to apply this Price Action Binary Options strategy in real life. Look into the charts, follow the historical data, keep in mind all the data collected from the Fundamental Analysis and invest! Hope for the best but remember, not every outcome can be ‘in the money’, and that is perfectly fine.
No one, not even the best of traders with years of experience wins all the time. So do not beat yourself up for the amount you lose. Instead, focus on improving and learning from your mistakes because, at the end of the day, life in the Binary Options World revolves around “you lose some, you win some more“.