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Trading binary options is easy, but that’s just as the fun part goes. However, it can also be a hell hole and a frustrating activity if you trade with real cash but keep making loses instead of profits.
Notwithstanding the losses, you should read this post to the end to turn things around. Start making consistent profits and be counted among traders who have beaten the odds and made it in options trading.
So brace yourself, hold your breath, open your mind to learning and let’s discuss these tips, tricks and cheats that traders use in tricking the Expert Option system.
If you don’t have an Expert Option broker account, register here (accepts Mpesa deposits in Kenya); Perfect Money, Visa and MasterCard in Nigeria and in other countries.
You can also fund your expert option account via Skrill in India, Netteller, Webmoney, FasaPay, Yandex, Kiwi and Crypto.
Below Are Our Top 10 Tips, Tricks and Cheats for Winning Consistently in Expert Option
1. Start Trading With a Demo Account
While most traders joint trading with too much expectations – and almost immediately want to start trading on a live account, that move is not recommended.
And if you ask me, I’d say that there is a reason binary option brokers provide demo accounts. And it is not to enhance their reputation as the best in the market (because if that statement was true, all binary option brokers would have good reviews on the internet. Rather, the essence of a demo account is to help you practice with real market data without risking your money.
You can also use a demo account to figure out the broker platform. Use it to figure out which charts work better, how to set technical trading tools and how to draw lines and use them to figure out your trading platform.
Simply put, practicing on a demo account is the only sure way to a trading Valhalla.
2. Join Social Trading
While most binary option brokers don’t have this option, social trading is good for newbie traders. You can use this feature to see what everyone else on the platform is trading and how much they have staked in that trade.
This can help you figure out fast which direction to open a trade on. Up or Down because sometimes, following seasoned traders who stake hug amounts on social trading is the only trick you need to master to win more in Expert Option.
Join Expert Option to Access The Social Trading Feature.
How to set Social Trading on Expert Option.
3. Activate The Expert Option Split Screen Feature
Splinting you screen into two while trading is a great way of monitoring trading charts and trading profitably while using the expert option platform. You can apply technical analysis tools and monitor other’s trades on one slip screen while you use the other to execute trades. This is essentially important when you don’t want to trade on a crowded chart.
How to Set Slip Screen on Expert Option
Login to your Expert Option account or register here to access the platform.
Now click on the split screen icon as shown in the image below.
4. Trade The Trending Assets
Trending assets are assets which show consistency towards a buy, a sell or a neutral option. You can chose to see these assets by activating the trends button on the right sidebar.
5. Use The Expert Option Martingale Strategy to Trade
Next, deposit at least $100 into your trading account and trade with $10. Strike the up button if you want to predict that at expiration, the price of the asset will rise. On the flip side, click the down button to predict that at expiration, the asset price will fall.
Now wait for expiration. If at the end of that trade, you loose; double your stake. Instead of $10 trade with $20 and click the Buy button (Up). Wait for expiration.
If the prediction is incorrect, try again. Trade with $40 this time. If the prediction is correct; you will make $75. Now you will notice that you have recovered all your stake and made a $5 profit. Keep doing this and you will make consistent profits trading.
6. Diversify Your Portfolio
While concentrating on one asset will help you focus on the price, opening up multiple trades will help you ensure profitability. It is called diversification.
Simply put, diversification involves purchasing various assets not connected with one another. Now this is a good strategy because while it is obvious that some assets can loose, some will win. And winning is what I want you to count on.
7. Trade Assets Which Are More Volatile.
Volatility is a financial indicator which measures the variability of asset prices. The higher the volatility in as asset, the more you will notice asset prices changing. And this only means one thing, traders have an interest in these assets and there is a high chance that you can make money when you trade during this time.
The flip side is when volatility is low and the prices remain the same for a very long time and it gets hard to pick a direction to trade.
8. Use Technical Analysis Tools to Trade
Trading profitably on trending markets means forecasting right the price behavior of assets on charts. You can do this right by either trading with the market news or using technical analysis tools to trade.
Technical analysis is a method of price movement forecasting on the base of price movement history. If you use the tool right, you will be able to tell which direction your asset will take in the near future.
There are some price types where you can find some repeating patterns. If you have studied and remembered them you will be able to forecast charts based on building method and time intervals.
In Expert Option there are different types of tools that you can use. Including,
- Moving average
- Bollinger bands
- Parabolic SAR
- Awesome oscillator
When used well and consistently, you can be able to pick trending directions and make the best decisions that will make you money.
9. Attend Options Trading Seminars
Most Forex and Options brokers organize trading seminars from time to time. You can register to attend these seminars which are often FREE to advance your knowledge in trading.
10. Don’t Trade With Small Amounts, You Will Loose.
Did you know that the majority of people who make money as either Forex or options traders don’t trade with $10?
You don’t believe me? Here’s some proof.
People are trading repeatedly with huge sums of money. See the number one Expert Option trader from India. He has a trading volume of $73,744,409, others from China, Thailand, Turkey, South Africa, Brazil, Saudi Arabia and Pakistan also fall in the top 20 traders in expert option with over $42,251,075 in trading volume.
Don’t start off your trading career with $10. Start with $100, $1,000 or more.