Binary Options trading has become a popular online financial trading and it can act as a second income. With changing economic climate, many people look for a second income to complement their primary source of income. But, what actually is binary option trading? Binary Options Trading as a second income in this industry many falsely believe has only two possible outcomes, win or lose. When you trade, the most common outcome could be earning a predetermined amount of money such as 83%.
As an example you invest $10 and you are ITM (in the money) then you are paid $18.30. If you are OTM (out of the money) you may earn nothing at all. If you are paying attention you may have several other ways to handle your trade. You may choose to rollover to a later expiry and be ITM. You may choose to the sell or buy me out option prior to expiry. This will normally reduce your loss. If you reduce your loss to a small portion you can be even or perhaps profitable in the next trade.
Binary option trading is structured in such a way that it allows traders to trade all days of the week with a very small initial deposit. One good thing about binary options trading is that you as a trader can work with a predefined risk-reward ratio which will greatly help in deciding the amount you want to risk. With the recent plunges in the world markets a known loss may be the smart move. There is hardly any form of trading that allows trade expiry times as low as 60 seconds or 30 seconds. Only in binary options trading can you have such opportunity. Besides, this type of trading can help traders like you to make a good second income in a very short time.
There are many financial instruments you can trade such as stocks, commodities, currency pairs, oil, among others. Of course, trading is one area that anyone with a minimum risk appetite can explore to earn extra cash without leaving home. It can help you fulfill your dream of financial independence. When compared to Forex trading, binary option trading is new. In fact, binary as we see it today was first introduced to investors in 2008, which has since then become a multi-billion dollar industry where thousands of participants earn more money in a single day and under few minutes than they did at work. It can provide flexible schedule earning opportunities that can you make more money, even better than your primary job. But, you must use the right trading strategies and systems before you can have a chance to make a dependable second income.
Advantages of trading binary options
One of the advantages of binary options trading unlike investing in stocks is that it provides a fast way to get results. In binary options trading, you can complete a trade in as little as 30 seconds. However, not all brokers – the platform that make trading possible – offer 30 seconds time frame for trading. Most brokers usually offer a minimum of 60 seconds trading time frame.
Another advantage in this kind of trading are the markets are open around the world about 20 hours on trading days. Not all assets are available all the time but the majors normally are available to trade. For busy people, it opens the opportunity for them to trade whenever busy schedules allow. Also, if you have a day job, you can trade during the night and vice versa to achieve that second income.
Moreover, you can trade from anywhere in the world as long as you have access to the internet. Besides, most brokers have mobile trading platforms, this can help you as a trader to trade on the go. Therefore, binary options trading may be one job that can act as a viable second income to you.
If you are looking to trade as a second income take a free look at Michael Freeman’s Manual Signals Facebook group. The top traders and admins there provide signals daily with an over 72% ITM ratio. Mention this blog and he will approve you to join.