Trading Guide: How Fast Should Binary Options Be Traded?
by
Vasil Velev
Trading is about making money. Traders should pick the time frame and option type that will best match their personality and make it easier to win. Depending on the prism, the market can be seen as green or red.
Apart from analyzing the market and using specific indications to make trading decisions, the frequency of order placement is probably one of the most important factors that affect the account balance when binary options are involved.
It is often the case when traders make several winning turbo trades and decide; "This is easy and fast. This is what I am going to trade," alternatively, they make several losing turbo trades and decide, "This is not for me. I will try the hourly options." These are normal human reactions, but not necessarily the right ones.
The market is fractal in nature. Fractals have a property called self-similarity, meaning that they are the same on all scales. For example, if you look at a chart that has no X and Y axes for price and time and there is no label on the chart to tell you what it is, you will not be able to tell if it is a 1, 5, 15, 20 minute, daily or yearly chart. From a purely objective point of view it does not matter if you pick a 1 minute chart or a monthly chart. This also means that whatever strategy works on the 1 minute chart will also work on the monthly chart, just a lot slower.
Try guessing what the time frame and instrument are in this chart. This is very important to understand, because the point of trading is to make money, not scratching an itch that won't go away. Picking which time frames or options to trade is entirely subjective.
This means that you should trade whichever time frame or option you feel comfortable trading. If you have no problem calling or putting every 2 or so minutes, then do it. If you don't have the time to follow the market all day - trade daily options. If you get emotional too easyily, keep your distance from the market, trade daily options.
If you can maintain analyzing the market at a constant rapid pace for a short period that you've decided to trade for, then keep to the lower time frames, trade turbo options. But firstly, there should be a solid mental framework that doesn't let the emotions of quick wins or losses Cloud analysis.
Humans in general cannot, do not and should not trade constantly. They cannot make the analysis needed to trade fast and efficiently enough. That role is reserved for HFT or high- frequency trading systems that make up 80% or even more of the total trading volume worldwide.
In any case, trading fast and furiously or trading in a relaxed and long-term way depends on your goals and personality. There are no set rules in trading and everything that can happen will happen. There is also a saying in trading that goes: "There are only old traders and bold traders. There are no old, bold traders."
Apart from analyzing the market and using specific indications to make trading decisions, the frequency of order placement is probably one of the most important factors that affect the account balance when binary options are involved.
It is often the case when traders make several winning turbo trades and decide; "This is easy and fast. This is what I am going to trade," alternatively, they make several losing turbo trades and decide, "This is not for me. I will try the hourly options." These are normal human reactions, but not necessarily the right ones.
The market is fractal in nature. Fractals have a property called self-similarity, meaning that they are the same on all scales. For example, if you look at a chart that has no X and Y axes for price and time and there is no label on the chart to tell you what it is, you will not be able to tell if it is a 1, 5, 15, 20 minute, daily or yearly chart. From a purely objective point of view it does not matter if you pick a 1 minute chart or a monthly chart. This also means that whatever strategy works on the 1 minute chart will also work on the monthly chart, just a lot slower.
Try guessing what the time frame and instrument are in this chart. This is very important to understand, because the point of trading is to make money, not scratching an itch that won't go away. Picking which time frames or options to trade is entirely subjective.
This means that you should trade whichever time frame or option you feel comfortable trading. If you have no problem calling or putting every 2 or so minutes, then do it. If you don't have the time to follow the market all day - trade daily options. If you get emotional too easyily, keep your distance from the market, trade daily options.
If you can maintain analyzing the market at a constant rapid pace for a short period that you've decided to trade for, then keep to the lower time frames, trade turbo options. But firstly, there should be a solid mental framework that doesn't let the emotions of quick wins or losses Cloud analysis.
Humans in general cannot, do not and should not trade constantly. They cannot make the analysis needed to trade fast and efficiently enough. That role is reserved for HFT or high- frequency trading systems that make up 80% or even more of the total trading volume worldwide.
In any case, trading fast and furiously or trading in a relaxed and long-term way depends on your goals and personality. There are no set rules in trading and everything that can happen will happen. There is also a saying in trading that goes: "There are only old traders and bold traders. There are no old, bold traders."
US Operator of Binary Option Brands Fined $516K for $10M Scam
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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