Binary Turbo Options: Basics for Beginner Traders

What are turbo options?

Turbo options are a type of binary option with an expiration time of one to five minutes. This means that the trader must predict the direction in which the price of an asset will move within this short period of time.

Turbo options offer high returns - up to 80% of the invested amount, even if the trade is closed within a few minutes. However, they also carry high risk. If a trader makes an unsuccessful trade, they lose the entire amount they invested in that trade.

Turbo options are available for trading on various assets, including currencies, stocks, indices, and commodities.

Main characteristics of turbo options:

• Short expiration time: 30 seconds to five minutes

• High return: Up to 80% of the invested amount

• High risk: If the trade is closed at a loss, the trader loses the entire amount they invested in that trade

• Availability for trading on various assets

Image: PocketOption platform

Turbo options can be a profitable way to make money, but they also carry high risk. Before you start trading turbo options, it is important to study the market and understand how they work.

Risks of trading turbo options

Trading turbo options is associated with high risk. Here are some of the main risks to consider:

• Risk of an unsuccessful trade: The likelihood of an unsuccessful trade in the case of turbo options is significantly higher than in the case of other types of binary options. This is due to the fact that the trader has less time to assess the situation and make a decision to make a trade

• Risk of losing your deposit: If a trader makes an unsuccessful trade, they lose the entire amount they invested in that trade

• Risk of emotional stress: Due to the high risk of trading turbo options, a trader may experience emotional stress, which can lead to unreasonable decisions

• Risk of fraud: There are many fraudulent companies that offer trading in turbo options. These companies may deceive traders, promising them high profits and minimal risk

• Risk of volatility: Turbo options are particularly sensitive to market volatility. If the market is very volatile, a trader may lose money even if their forecast was correct

• Risk of news impact: News can have a significant impact on asset prices. A trader should monitor the news to make informed decisions about trades

Best binary option brokers

1

9.4/10

Go to broker

Your capital is at risk.

Minimum deposit:

$5

Review

CloseOption is a binary options broker that was registered in Georgia in 2013 and operates under the supervision of the National Bank of Georgia. It provides its clients with trading in pairs with fiat currencies and cryptocurrencies through a proprietary web platform. CloseOption’s services are used by over 2 million traders worldwide, including the United States. The broker specializes in active options trading but also offers an affiliate program to generate passive income. More than ten payment systems are available to CloseOption clients for depositing and withdrawing funds, with the majority of them allowing fee-free transactions.

Pros/Cons

•licensed by a reputable financial regulator;

•loyal first deposit of $5;

•size of payments increases as trading volumes increase;

•money prizes for trading with virtual funds;

•many ways to contact technical support that operates 24/7.

•a small range of trading assets;

•clients cannot trade with leverage;

•payments on accounts with small deposits are lower than those of competing brokers.

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2

9.2/10

Study Review

Minimum deposit:

$250

Review

Nadex is a binary options broker working mostly with US and EU traders. The company was founded in 2009, officially registered in the State of Illinois, and regulated by US law. The broker's regulator is the CFTC (Commodity Futures Trading Commission). The main competitive advantage of Nadex is its completely transparent work, controlled by one of the most reputable regulators in the world. A distinctive feature of the broker is unique binary options products and direct access to the US exchanges.

Pros/Cons

•regulation by CFTC;

•binary options toolkit is easy to use.

•the broker works through an intermediary from the EU;

•commission for each trade is US$1;

•limited range of offered products (3 types of options);

•all information on the site is in English only;

•complex verification procedure that meets the requirements of US legislation;

•high entry threshold - $250;

•there is a flat fee for withdrawing money - $25.

Study Review

3

9.1/10

Go to broker

Your capital is at risk.

Minimum deposit:

$5

Review

The Pocket Option broker is part of Gembell Limited holding, which was founded by a group of professionals seasoned in trading and investment activities. The company is mass-market requirements-based, therefore, it provides quality services to binary options trading in the OTC market access. The broker strives to make the trading process as simple, clear, and convenient as possible. For this reason, Pocket Option has developed a unique trading platform to ensure stable trading for traders and investors.

Pros/Cons

•low threshold for entering the market; the first deposit starts at $5;

•social trading platform generates passive income.

•not licensed by any reputable regulator;

•to trade Forex through MetaTrader 5, you need to deposit at least $1,000;

•support service responds within 24-48 hours, which is also too slow.

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Turbo options trading strategies

To trade turbo options successfully, you need to use effective strategies. Here are some of the most popular turbo options trading strategies:

• Trend following strategy: this strategy is to trade in the direction of the current trend. The trader can use various indicators to determine the trend such as MACD indicator, stochastic oscillator and RSI indicator

• Breakout strategy: this strategy is to trade after price breaks through an important support or resistance level. The trader can use various methods to identify support and resistance levels such as chart analysis and indicators

• Scalping strategy: this strategy involves making many small trades throughout the day. Scalpers usually use very short execution times such as one or two minutes

Let's take a closer look at a few examples of specific strategies.

Trend channel strategy

A trend channel is a price range in which the price of an asset moves over a period of time. A trader can use a trend channel to identify trend direction and potential entry points for a trade.

To determine a trend channel, a trader must first find two price extremes that are at the same level. Then he must draw two lines connecting these extrema. The upper line will represent the resistance level and the lower line will represent the support level.

Once the trend channel is identified, the trader can look for entry points to enter the trade at the support and resistance levels. If the price of the asset reaches the support level, the trader can open a buy trade. If the asset price reaches the resistance level, the trader can open a sell trade.

News scalping strategy

News can have a big impact on asset prices. A trader can use this influence to make profitable trades.

To trade on news, a trader must keep an eye out for news that may affect the market. Once the news is released, the trader must quickly assess its impact on the market and decide on a trade.

Strategy of trading using indicators

Indicators are tools that help traders analyze the market and make informed trading decisions. There are many different indicators that can be used to trade turbo options.

Some of the most popular indicators for trading turbo options are:

• MACD indicator: this indicator helps traders identify the trend and entry points in the market

• Stochastic oscillator: this indicator helps traders to determine when the market is overbought or oversold

• RSI indicator: this indicator helps traders to identify trend strength and potential pivot points

Traders can use different indicators in combination with each other to increase their chances of success.

These strategies can be used to trade turbo options on a variety of markets and assets. It is important to test any strategy on a demo account before using it on a live account.

How to choose a turbo options trading strategy

When choosing a turbo options trading strategy, it is important to consider the following factors:

• Your level of experience: if you are a novice trader, you should choose a strategy that is relatively simple and straightforward

• Your investment horizon: if you want to make trades on a short-term basis, you should choose a strategy that is suitable for this

• Your risk profile: if you are willing to take a high risk, you may want to choose a strategy that offers higher returns

Tips for trading binary turbo options:

1. Tips for beginner traders:

• Start with a simple strategy: don't try to learn a complex strategy right away. Start with a simple strategy that you understand and are comfortable with

• Start small: don't put too much money into one trade

• Don't be afraid to lose: all traders lose from time to time. It is important not to get frustrated by failures and keep learning

• Practice on a demo account: before you start trading on a live account, test your strategy on a demo account. This will help you understand how the strategy works and how to make trade decisions

• Study the market: the more you know about the market, the better you will be able to make trading decisions. Read the news, study the charts and follow the trends

2. Tips for intermediate level traders:

• Don't rely on one strategy: it is important to use multiple strategies and combine them. This will help you reduce your risk and increase your chances of success

• Analyze your results: track your results to understand which strategies work best. This will help you improve your trading skills

• Don't be afraid to experiment: don't be afraid to experiment with new strategies and approaches. This can help you find new ways to maximize your profits

3. Tips for experienced traders:

• Develop your skills: keep learning and growing as a trader. Keep an eye on new trends and develop your analytical skills

• Manage your risk: always manage your risk. Do not invest more money than you can afford to lose

• Be patient: trading turbo options can be a lucrative way to make money, but it requires patience. Do not expect quick profits