Make Money Trading Binary Options
Make Money Trading Binary Options
April 16, 2012Sometimes in markets, as in life the solutions present themselves as you progress. When I started trading online the internet was a relatively new and unknown medium. Today, some of my best friends engage in financial betting; either in Forex options, commodity trading, or indices.
So when I started out I was clueless and had no experience, but I had a very strong desire to succeed, a good grasp of figures, and since I was young and with no commitments I could afford to take risks. Today, I’m 10 years older with a tremendous amount of trading experience both offline as well as online.
So let me offer you some free advice. First of all, trading is not for everyone. You need an iron will and an ability to read the market. You have to stay sharp all the time and be prepared to take a loss here and there; in fact you should expect it.
I meditate every now and then just to clear my head of all the static out there, and when I finally sit down and get into the figures, these are the main tools and/or methodologies that I use.
Japanese Candlesticks (see image below): I will always use a candlestick formation when analyzing stock patterns. In fact, its the first thing I do. I always look for the pattern on the hollow bars. I have aggregated historical data on specific energy and blue chip stocks that I have compiled and ran deltas through an SPSS statistical formula I have whipped up. This is one of my bigger trade secrets so I can’t get into the details, but I can tell you it works best for long term investments on commodities and the S&P 500.
The SPSS modeler allows you to engage in predictive modeling without having to know or understand programming. I have found it to be an amazing tool, and since I’m a numbers freak I crunch my data all day on my formulas using SPSS.
The second methodology I have developed has to do with news and information gathering. I have found out that seemingly unrelated events influence the indexes. Here’s an example, if there is a certain rise in semi-trailer or full-trailer sales in certain developing countries you can pretty much predict that certain commodities will peak. Let’s say corn production is increasing in a South American country, this means that exports will grow or local consumption is on the rise or both. But people don’t know that corn is also being used as an alternative energy source as a substitute for oil (biofuel), that is why on the local indexes I will put a long hold on related stock where corn production and/or export, particularly to developed countries. This is just one example.
Making money trading binary options online does not have to be done on a full time basis. God knows we all have commitments and obligations, and for all of us who don’t, doing it part-time from home is a great way to educate yourself and learn the markets. I was recently asked about binary options trading strategies, and which are the best ones for making some fast cash trading online.
I made a conscious decision to tell this friend to stay away from investing online, its a very unforgiving niche and many people can’t take the pressure. So I spoke my mind and sent him his way. The following day he called me and thanked me, I advised him that there are other ways he can supplement his income, and it does not have to be related to trading binary options. I referred him to a webmaster friend of mine and told him to start looking in e-commerce destination sites like ebay and magento. He already understood what he needed to do.
Click Here if you think you have what it takes to be a successful trader.
