If you are looking for some form of trading that is fast paced and exciting, 10 minute binary options are definitely for you. These options are quick and this can equal big profits for you if you go about it the right way. You can fit several of these trades in each hour and at 75 to 85 percent returns on each trade, this can equal big money. As such, you can definitely fit these into your trading strategy in order to help you make as much money as possible in this exciting new form of trading.
How do they work
All forms of Binaries have expiration times. If you think the price of the asset will go up between now and the expiration time, you want to select a call option. If you think that the price will go down, go with a put option. A 10 minute trade has an expiration time ten minutes from the time the trade opens for buyers. This is perhaps the most common type at many sites online.
You don’t have to just trade call and put options in ten minute increments. You can also choose one touch and boundary options for this timeframe, depending upon the broker, of course.
Using 10 minute options
If you want to trade options, 10 minute options are one of the best places to start. You can use many of the same tools and thought processes that you would use if you were day trading stocks or currency pairs. The good thing about this is that if you have prior trading experience in these areas, you don’t really need to do a lot of extra work to learn how to trade binary options. Instead, you will want to focus on learning the software and platform that your broker uses.
If you are new to binary trading, 10 minute options are a good place to start because they are a happy medium. They are not too fast paced and they are not too drawn out. The skills that you use to analyze will translate over into any other type of expiry, too. The skill set here is universal, which is always a good way to introduce yourself to more in depth topics. You might find that you prefer 60 second binary options or even hour long ones, but either way, having knowledge of how ten minute options work is extremely beneficial to you.
Benefits of quick paced trading
There are a few benefits that come with the quick paced atmosphere that 10 minute options provide you with. For starters, you will have more trades that you can fit in each day. If you are trading them, you will naturally be able to fit more trades in per day than if you were to trade hour long options. If you are a successful trader, more trades equals more profits. Be careful here, though. If you are not a profitable trader, more trades equals more potential for losses. Make sure you have the know-how that you need before you tackle this type of trading on a consistent basis.
Next, they are great because they allow you to exert more control over your money. Even if you are wrong from time to time—and this will definitely happen now and then—the short term nature allows you to better manage your money. The shorter the amount of time that your money is tied up, the more often you can use that money to help create more wealth for yourself. Think about it this way: if you have $100 invested in a trade, that $100 can only be used for that trade. But after you are out of the trade, the same $100 (plus whatever profit you made) has limitless potential. $100 is more valuable to you in your account than it is tied up in an investment. This might not make sense at first, but $100 is most beneficial to you when you have more control over it. In the middle of an open trade, you temporarily lose control of your money. Therefore, you want to make sure that your money is always working for you and this is only accomplished when it is tied up for short periods of time. Check out the winning trade above taken at 24option. It was quick and easy after we put our strategy to work.
What you need to do to be successful
To be successful with 10 minute options, you will need to be familiar with short term asset price charts. If you’re looking at stocks or currencies, you will want to be able to expertly interpret one and five minute price charts. You also want to be able to look at longer charts so you can get a feel for overarching trends that the asset might be experiencing.