Best 60 Second Binary Options Strategies To Use
Best 60 second binary options strategies:
Signal trading - receiving signals from a broker or traders.
Trend trading - earnings on a minute option with a strong trend.
Pinocchio's strategy is trading with a reversal pattern.
Those seeking a fast-paced trading strategy may find potential in 60-second binary options. Due to their short timeframe, these options allow traders to profit from even minute price movements—but they also bring increased risk. For the savvy speculator hoping to navigate this high-stakes market, a carefully constructed approach is key.
This guide shares insights on both the pros and cons of 60-second binary options, as well as detailing several strategies demonstrated to optimize outcomes with this approach. Novice traders, in particular, will benefit from the risk management advice and techniques for effective analysis. Overall, with discipline and rigorously backtested systems, these options may fit well within a diversified approach — provided one's risk tolerance aligns with the inherent volatility of this nascent trading segment.
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How many trades should I aim to make per day?
There is no set number, but most new traders start with 5-10 trades per day, focusing on quality over quantity as they gain experience.
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Is technical analysis useful for 60-second strategies?
Definitely, technical analysis can help identify short-term trends and price action patterns.
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Is it true that trading 60-second binaries is basically just gambling?
While 60-second binaries involve analysis skills like other trading, the risk is extremely high compared to other timeframes.
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Is it possible to earn a living from 60-second binary options trading?
While profits can be made, it is highly unlikely to generate consistent enough income to rely on as a sole source of living.
What are 60 Second Binary Options?
Before reading this article, you have to know that binary options are financial contracts with an all or nothing reward. That is why they are called binary options: there are no other options for settlement. A binary option is based on a simple yes or no proposition: Will an asset be worth more than a certain amount at a specific moment in time? For 60 second binary options that moment in time is exactly 60 seconds after that trade was placed. See why they are called 60 seconds binary options?
Pros and cons of 60 Second Binary Options
Many binary options traders prefer trading 60 second binary options because they allow you to make profits more quickly. Here are its pros:
👍 Pros
• You can profit from the most insignificant price fluctuations that might take place in 60 seconds
• Because of the short time, you can make multiple successful trades during one hour
• You only have to analyze the graphics for that day or even only a few hours to be able to accurately predict how the price will fluctuate in the next 60 seconds
• It is a quick way to make big profits if you place a successful trade because the whole process only takes one minute
Although 60-second binary options have very attractive pros, they also have some cons you have to be aware of before trading them. Here they are:
👎 Cons
• You can quickly lose your whole investment if you are not careful with the trade you execute
• During a longer-term binary options trade, the value of an asset might fluctuate considerably, but in the end, to hit the desired price and make you win that trade. While in a 60-second binary option, lots of things might not go as expected and make you lose that trade
• It is considered riskier than trading longer period binary options
Example of 60 Second Binary Option
To make it simpler for you to understand how 60-second binary options trading works, the Traders Union experts have created a simple example for you.
Let’s say that the trading pair EUR/USD price is 1.1256 at 3:30:30 PM, and you think that its price will grow in the next 60 seconds. In this case, you select the “High” or “Call” option, and you purchase that binary option. The 60 seconds begin the moment you lock in that trade. Then, if the price increases by even as little as one pip at 3:31:30 PM, you win that trade. In this case, you get your initial investment back, and also make a profit that can be as high as 85% or more of your investment. However, if the price did not increase at 3:31:30 PM, you lose your initial investment.
Now if you think that the price will decrease in the next 60 seconds, then you select the “Low” or “Put” option, and you purchase that option. So, if the price is lower at 3:31:30 PM, you win that trade. But if it ends up being higher, you lose that trade.
What is a Binary Options Strategy?
In short, a binary options strategy is a set of factors you should take into account before placing a binary options trade. Some of these factors are studying the market, reading charts, news, indicators, using signals, and others.
The basics of every strategy are risk management and emotional control. They are very important for every 60-second binary options trader because this is a very risky market, and many traders let their emotions get in the way while placing trades, and this is a high risk of placing unsuccessful trades.
Best 60-sec binary options Strategies
Now that you know why you should have a well-put-together strategy for trading 60-second binary options, let’s discuss four simple strategies beginner traders can follow for increasing their chances of winning a trade. Here they are:
Use signals
Binary Options Signals
Trading signals represent triggers to take any action in trading and are one of the easiest ways to predict a trade’s success. Trading signals can be generated by humans, as well as algorithms and bots. Although they are generally doing a great job at guiding traders while placing binary options trades, they are not always accurate because binary options trading, especially 60-second binary options trading, is very unpredictable. So you should rely on signals only, and you should also examine the charts, and pay attention to the news.
Follow Trends
Binary Options Strategy
A great strategy with binary options, regardless of market or asset, is to follow trends. Asset prices will vary in response to trends. This is because the binary options market is relying on trader speculation, which occurs in real-time. Trends will move in a zigzag pattern, and traders who use this strategy will trade current trends or swings. Examine your chart and pay attention to the trend lines. If a line is flat, consider trading a different asset. If the line is rising, the price is likely to rise as well.
The Pinocchio strategy
Pinnokio strategy
This strategy is the opposite of the previous one, and it implies a trader is betting against a trend. If the price of an asset is soaring, the trader should put an option with the assumption that the price will go down. With that in mind, the trader should select an option with the assumption that the asset's price will rise if it is in a declining trend. Examine your candlestick chart and determine whether the candle is light or dark, indicating whether the market is bearish or bullish at the time. Place your call option if the wick is pointing down. Place a put option instead if the wick is pointing up.
Have great risk management
Although 60-second binary options trades are very risky, every risk you take should be a calculated risk, and you should never place binary options trades for the sake of placing trades. Before placing any binary options trades, you should do comprehensive market research and consider all the risks associated with that trade. Also, you should not risk more than you can afford to lose on a single trade. Experienced traders usually do not risk more than 1-2% of their budget on a single trade, and you should have this habit, as well.
Where To Trade 60 sec binary options
While trading binary options, you should use the right broker because the broker you use might influence your trading success. If you are looking for the best 60-second binary options brokers, here is a short list of brokers that offer great conditions for trading 60-second binary options:
1. Pocket Option
Pocket Option is a very good trading platform for 60-second binary options because it has a $50 minimum deposit, a $1 minimum trade, no trading fees, and a variety of deposit methods such as crypto, wire transfer, cards, and eWallets. There are numerous advantages to using this platform for binary options trading, such as security, high profits of up to 128%, and a big bonus opportunity. Pocket Option also provides a free binary options trading demo account. The Financial Market Relations Regulation Center, or IFMRRC, also regulates Pocket Option. In addition, the platform provides high/low and turbo trades, as well as decent social trading capabilities.
2. Binary.com
Binary.com is a great trading platform for 60-second binary options because its users can benefit from a minimum $5 minimum deposit, a $1 minimum trade, and no fees. The maximum profits are 85 percent. Also, there are multiple deposit methods, including Bitcoin, Wire Transfer, Skrill, and others. Binary.com is a very popular platform for trading 60-second binary options because it has over one million users.
There are numerous advantages to trading binary options on this platform, including over a hundred tradable assets and cutting-edge technology. Binary.com also provides a free binary options trading demo account. Binary.com is also regulated by the British Virgin Islands Financial Services Commission (BVIFSC), the Malta Financial Services Authority (MFSA), the Vanuatu Financial Services Commission (VFSC), and the Labuan Financial Services Authority (LOFSA).
3. IQ Option
In Europe, the IQ Option broker provides services such as binary options, stock trading, and Forex trading. IQ Option is a very good broker for trading 60-second binary options because it offers up to 95% commissions for winning trades, a minimum of $1 per trade, and no fees. The minimum deposit for trading with IQ Options is $10, and you can use credit cards, debit cards, and eWallets.
The company was founded in 2013 and is now a market leader, thanks in large part to its proprietary platform. This broker is regulated by the Cyprus Securities and Exchange Commission (CySEC).
How To Trade 60 sec binary options? Step-by-Step Guide
If you were wondering how to trade 60-second binary options, the Traders Union experts have created a short, step-by-step strategy to show you how to trade 60-second binary options. Here it is:
1. Create a brokerage account
The first step towards trading 60-second binary options is creating a brokerage account with a binary options broker. We recommend using the Pocket Option, Binary.com, and IQ Option brokers because they have great trading conditions, such as low deposits, no fees, and high win commissions.
2. Fund your account
To trade 60-second binary options, you should have enough funds in your account to pay for them. The brokers we recommended to you have low minimum deposits, which is a great advantage for many beginner traders.
3. Perform market analysis and apply your strategy
Before placing any trade, you should perform throughout market analysis and apply your strategy to increase your chances of winning that trade. This includes monitoring charts, using signals, reading news, and other strategies.
4. Buy the option
While purchasing the binary options, you first have to select how long that position will be open, in this case, you should select 60 seconds. After that, you have to choose the amount of money you are bidding on that trade. Lastly, you should choose the option for that trade, whatever the price of the asset will grow or will decrease. With the brokers we recommended to you, the minimum amount of money that you can spend on a trade is $1, which is a great opportunity for beginner binary options traders to gain experience without risking too much capital.
Why Should I Have a Binary Trading Strategy?
Every binary options trader needs to have a well-structured strategy before placing any binary options trades because it makes the results of the trade more predictable.
Meanwhile, trading 60-second binary options without a strategy is like riding a motorcycle without wearing a helmet. All you can do is put your faith in the hands of luck and hope that you will win that trade.
However, that does not mean that you will win every single trade if you use a good strategy. That is because trading is unpredictable even for professionals; they are not immune to mistakes. The difference is: they make a lot fewer mistakes and lose less capital than traders who do not have a good strategy.
Is 60 Sec Binary Options Trading Profitable?
Just as any type of trading, binary options trading can be profitable. But this does not mean that it will always be profitable. There are very high risks of losing your initial investment if things do not go as expected, so you should not take uncalculated risks with the hope you will win big money if you take big risks.
A great way to increase your win rate at winning 60-second binary options trades is having a well-put-together strategy and using a broker that has great conditions for 60-second binary options trading.
Lastly, remember that trading 60-second binary options is very similar to gambling at a casino, and you should treat it as a source of additional income, rather than something you can do full time.
Summary
Finally, we hope that you have enjoyed reading this article and found answers to your 60-second binary options trading questions. An important thing to understand about binary options trading is that it is a quick way to make some profits, but only if you have the right strategy.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.