Binary Options Trading
Trading Binary Options is very straightforward. A new trader can create an account, fund it and complete his first trade in less than 3 minutes.
STEP 1:Create and fund your Beast Options trading account. You will be asked for basic personal information and then be prompted to head to the secure banking window to fund your account.
STEP 2: Choose what type of trade (Digital, Range, Touch), the asset class (Currency, Stock, Commodities, Indices) and the actual asset (EUR/USD, Gold, Facebook Stock). For your first trade, it’s best to choose an asset and asset class that you are familiar with.
STEP 3: Select the Expire Time (when the option ends).
STEP 4: Decide if the underlying asset will move up or down in value, and chose Call or Put respectively.
STEP 6, Choose an amount to invest.
You may initiate as many commission-free trades as you like and monitor your trades via the Open Trades Dashboard.
There are two very important tools available to Beast Options traders – “Close Now” and “Roll Over”. Be sure to get to know these tools and identify when to use them while trading.
The Close Now trading tool enables a trader to cancel a Digital Option before the time of expiration. The perfect time to use this tool is when the trader is currently in the money, but believes that the value of the underlying asset he purchased is going to expire at a value that is outside of the money.
For example, a trader buys a one-hour Call option. After 50 minutes he sees that the price of the underlying asset is beginning to fall after having risen for a while. If trader were to “Close Now,” he would insure that he makes a profit. On the other hand, if the price of the option has decreased steadily, he could “Close Now” to cut his losses.
The Roll Over trading tool enables traders to extend the expiration date and or time of an option to give said option a greater chance to expire in the money.
For example, a trader purchases a one-hour Call option. During the first 55 minutes of the option, the price did not perform as expected. Nevertheless, in the final 5 minutes the value starts to move in the direction the trader had hoped. For a one-time fee, the trader could extend the time of expiration to allow the option to finish in the money.
Anatomy of a Trade
Every binary options trade is based on three essential elements – the underlying asset, the binary options contract and the forecast or prediction.
The Underlying Asset
Beast Options trading platform offers binary options on a range of underlying assets including stocks, commodities, currencies pairs and indices. Traders generally become more familiar with a specific underlying asset or area of the market and become specialists in trading those assets.
The Binary Options Contract
Binary options contracts typically last anywhere from one hour to one month, but Beast Options offers traders the ability to buy contracts that are as short as one minute. To make accurate predictions, it is important to know exactly how much time is left before an option expires.
The Forecast or Prediction
The job of a trader or investor is to determine which direction the price of an underlying asset will move before the option’s time of expiration. Traders who believe that an asset price will rise should buy a Call option. Traders who believe that an asset price will fall should buy a Put option. Correct predictions can earn traders high returns that nearly double their investments.