In this section, we are going to enlighten you with some useful hints and strategies. These tips are not guaranteed that they will always make you sustainable profits, but will drastically improve your chances of winning Binary Options trades.
Take Advantage of Bonuses
As you are going to be gifted with many welcome and sign up bonuses by the Binary Options trading website, you should make the most of these bonuses. Here are few ways you can utilize them:
Hedge Binary Trade Using Bonus Cash
When you join two different Binary Options trading websites, you will be having welcome bonuses of both of them at your disposal. You can hedge your trades by placing opposite trades at each website. So if you end up with a loss at one website, you will naturally win on the other; hence, in this way you will make a guaranteed profit and bonus cash.
Look out for Re-Deposit Bonuses
Most Binary Options trading websites offer bonuses, called Re-deposit bonus, to their most loyal customers. These are offered to them occasionally when they make a qualifying deposit, after which they are credited with a bonus in their trading account. So the more money you have in your account, the more chances there are for you have of winning a trade.
Questions about Binary Options Bonuses
Here are some FAQs relating to Binary Options bonuses, answers to which traders must know:
How Big Are Binary Options Bonuses?
The amount of cash offered as bonuses varies from website to website. But usually, the bonus is worth equally or sometimes more than the deposited amount. Also, websites offer bigger bonuses from time to time to their loyal customers.
Can I Open More than One Account per Site?
The answer is no. Most people have tried to do this in order to gain double welcome and sign up bonuses, but their bonuses were later on voided and removed from their trading account.
Do Mobile Binary Option Sites Offer Bonuses?
Yes. In fact; there is no change in bonuses that are offered to mobile Binary Options traders and are similar to ones that are given at the online website.
Should I Follow the Money?
A lot of traders do not have their own plan of action and simply try to copy what other traders are doing, that is, which trades they are considering, where they are placing their money, etc.
Don’t just follow the money. Although most people have made profits by following other traders, but sooner or later, you will have to learn how to take risks and improve your judgment skills in regards to placing money on Binary Options trades online.
Should I Utilize Early Exit Trades?
Deciding on whether you should go for early exit from trades do not always reap profits. It is like a double edged sword, as you have to pay a fee for pulling out of a trade. So make sure that there is no hope left for the trade to be profitable before you take an early exit. Otherwise, we recommend you don’t.
Should I Use a Pay Per Tip Site?
The answer is a big NO. Any site that claims it has proven shortcuts to making big profitable trades is a scam, so steer clear from wasting money on any of those sites.
Additional Tip
Stay yourself up to date with the news regarding changing values of commodities like Gold and Silver as they have direct influence on currencies and other factors influencing Binary Options trading. Most websites even have a sidebar where top news is displayed so that traders can quickly view and assess the impact of it, and make their trading decisions accordingly.