Binary Options - Currency Pairs Trading With The Opteck Platform
In this brief article we shall introduce you to the trading of currency pairs using binary options on the Opteck binary options trading platform. Trading currency pairs using binary options is really quite simple which allows those who are just getting into financial markets and forex to take their first steps without previous experience and with the very modest minimum initial investment of $200 - though $500+ is recommended for proper money techniques to be implemented.
Opteck Forex Binary Options Trading W/Pictures
With Returns up to 85% per trade being offered, Opteck leads the pack when it comes to the potential for making high returns in very short time frames. We will be discussing and showing the trading of hourly binary options contract in this article as they are both the most common and the most profitable...when done correctly that is. Aside from the potential for amazingly returns probably the biggest draw for traders is the ability to strictly limit their risk and control exactly how much it is they are willing to potentially lose should things go against them. Unlike traditional forex, which is traded on leverage - a dangerous beast for inexperienced traders (and even experienced traders), with forex binary options you can only lose a maximum of up to the amount of your original investment. Opteck offers traders the ability to trade binary options on all the most popular forex currency pairs traded on the markets today including:- EUR/USD
- AUD/USD
- USD/CAD
- USD/JPY
- NZD/USD
- USD/CHF
- EUR/JPY
- EUR/GBP
- EUR/AUD
- GBP/USD
- More Being Added All The Time!
This shot of the EUR/USD currency pair is prior to opening any trade and simply shows us the price history of the pair over the last couple of hours and our options for trading on the pair. As you can see we are approaching expiration for this option. At what point during the life of the contract you open your trade can be very important but most important of all is simply listening to what the charts are telling you.
Fast forward to expiration: this trade was unsuccessful. What happened? It looked good on the Opteck charts. Well, is what happened is that these charts show only so much detail and with binary options trading even the smallest movements can affect the outcome of a trade. You should not depend exclusively on the charts provided by Opteck or any other binary options broker. You should most definitely use them but you should not ONLY use them. So, how should you time you entries? Good question and one that can have several correct answers. Our preferred answer, however, is to use split-screen trading with the Opteck charts as one-half and some advanced, real-time forex charting software (or for stocks and indices stock charting software) being used as the other half. We recommend using Meta-Trader 4 software for forex and ThinkOrSwim from TDAmeritrade for stocks and indices. Both can be had for free. Lets look at an example.
Now that's a trading setup. We can take in a lot more information at a glance with this setup than by using the Opteck platform alone, as you can see. On the left side there we have 4 charts all showing the EUR/USD currency pair but on different time-frames. Our preferred setup is to have daily, hourly, 15 min., and 5 min. bars showing simultaneously when planning our entries. This allows you to see the larger overall trends (clearly down in this case) as well as a more detailed view of recent price action (choppy to up in this instance). Generally speaking your best bet is to find trades and entries that go with the larger overall trend. However, if the detailed charts of current price action are suggesting a rebounding process, and the expiration isn't too far off then the "micro-trend" can very much be your friend.
Lets quickly look at one more example of this split-screen binary options trading strategy at Opteck. In this example we'll use our personal favorite currency pair to trade on the Opteck binary options trading platform: the popular AUD/USD currency pair.
This provides an excellent example of trading with the larger overall trend. In this case that overall trend has clearly been a downward one for several weeks now. A very strong trend. When we look at the more detailed, smaller time-frames we see some choppy action and that currently the AUD/USD currency pair is nearing the top of its range for the day. Given the strong downward trend of this pair it seems a reasonable bet that it would experience at least a temporary pullback from this resistance level. And, happily for us this contract is nearing the end of its life so if we were to buy a binary put option on it we would only need it to be a small and "temporary" pullback from that level. This is a near textbook ideal setup for forex binary options trading.
Register Your Account With Opteck Today And In Addition To Your Special Welcome Bonus Of $100 In Risk-Free Trades And The Regular Deposit Bonus Get Our Binary Options Trading Guide: "From $100 To $1000 In One Day: How Its Done - With Pictorial Progression" Absolutely FREE! Simply Contact Us After Making Your First Deposit With Opteck And Receive Your Guide Within 24 Hours.
