Turbo options or 60 second binary options trading

June 13, 2017 by in category Articles tagged as with 0 and 1
Home > Blog > Articles > Turbo options or 60 second binary options trading

Turbo options, which are usually associated with binary options with a 60 second expiration time, are the most popular type of options used to earn money on the financial market for beginners. Turbo options are any short-term bets where the expiration time varies between 15 seconds and 5 minutes. All professional traders suggest to avoid turbo options if you don’t understand the trading principles because then trading turns into gambling. In our in-depth article, we will discuss the pros and cons of one of the most popular types of options as well as share our opinion of a professional trader.

turbo_options_binary

“I am going to earn my monthly salary in a day!”, that’s how we can describe most binary options beginners. If you are one of them, just STOP trading and READ carefully. All of those who think this way are not traders, they are gamblers. A professional trader can’t even draw a trend line on a graph in 60 seconds and we are talking about making decision in such a short term. We are not saying you can’t earn money by trading on turbo options, you just have to be an experienced trader to do that. By “experienced” we mean a person who has been analysing different asset price movements for about 2-3 months; no less. So, let’s get back to our turbo options.

Pros of Turbo Options

  • Quick way of earning money
  • You only need technical analysis to assess the situation
  • Can be traded at any given time, as turbo options do not require thorough study of the news
  • Whilst working with small timeframes you will be unable to use any traditional analytical instrument; you can trade turbo options on the go via your mobile phone

Cons of Turbo Options

  • Works only with highly volatile assets
  • Sometimes you have to rely on luck
  • It’s pretty stressful and very risky
  • Some asset quotes provided by the broker vary by 0.01% against the real quotes, which could be very crucial for trading binary options with a short expiration time

We tried to earn money by trading turbo options with binary options broker 24option. We selected a 5-minute time frame and were keeping an eye out for market corrections (retracement) via the MetaTrader4 trading platform. So, in an hour we managed to earn more than £80 (a screenshot could be seen below):

24option_turbo_options

We chose 24option as our binary options because it has a trading platform (no delays) with a wide variety of option types and assets. More information about 24option could be found in our review.

There are golden rules which have to be taken into account whilst trading turbo options:

  1. Asset selection. Currencies usually have much higher volatility than other assets, thus better suited for short trades.
  2. Analysis of the market. Although you can trade with turbo options at any given time, they can often get fairly tricky when important information is released and, therefore, it is always an advantage to stay up-to-date with the latest news. In addition, the price movement should be monitored against the mean value. Every time the price of an asset jumps up you should open an option for the down position (PUT).
  1. Awareness of the high risks. It is important to understand that short intervals significantly increase risks. However, the high profitability of the trades with strict money management usually covers the costs. You should refrain from trading on a flat market, or use assets with low volatility, because then the price moves really slowly, meaning that more than 5 minutes could be needed for the price to return to its mean value.

There are a lot of strategies for turbo options, all of which are based on technical analysis, but you wouldn’t be able to find a 100% profitable strategy on the internet. There are a lot of indicators and signals which could help you make the decision, but after all it is you who is trading, and not some software. In addition, never try to buy strategies, signals or any other “quick methods to earn thousands by trading turbo-options on binary options”. Our suggestion for you is to start from the the basics of financial markets, understand the terminology and principles, and slowly start trading on demo-account. This will help you get used to financial markets, trading platforms and the whole process completely for free without the using any real money (so you are not losing anything). After all, your aim should be long-term and by investing your time into educating yourself to trade you are going to be the winner in the end.

Turbo options in the eyes of a trading expert

Overall it is really hard to take binary options as a serious financial instrument for trading, but money could be earned there for sure. Orders are not taken through the interbank foreign exchange market, but all the quotes which binary options brokers provide are 100% real. Also, there are several regulatory bodies in the EU which make the binary options market much more safe and secure. Binary options is a simplified version of Forex and Stock Exchange which is available for trading to anyone from £10.

Turbo options cannot be taken seriously because a small timeframe trend is very unpredictable and it’s impossible to imagine what kind of information is needed to guess in which direction the price will go in 60 seconds. Of course, we understand that it is real, but if you study the historical quotes then it could be seen straight away that the trends are more stable over longer periods of time. The reason is clearly the fundamental factors rather than technical levels and trading volumes. Economic factors are always more important so they need to be prioritised. For this reason, 60-second options should be considered as a game of chance rather than trading. But just to mention, in no way are we suggesting that gambling is bad, however, there’s a drastic difference between trading and gaming. Trading requires maximum experience and skills, but gambling entails none of that. Instead it relies on the theory of probability and emphasis on luck. At the time frames of less than 5 minutes, there is little to do in terms of forecasting price movements. This, in fact is very similar to tossing a coin and praying for coin “to give” you the desired result more often.

Of course, among my friends there are professional traders who have successfully used the turbo options for earnings. The way they work with the 60-second options is fundamentally different from the beginners blind-pushing on CALL/PUT buttons. For example, the pros can work with turbo options during the London spot fixing, which you probably haven’t heard of, and so you haven’t heard of 99.9% of all binary options and Forex traders. When I asked my friend how he works with turbo options, he provided me with the following “success list”:

  • analysis of the market structure;
  • analysis of the distribution of market liquidity;
  • identification of the levels of demand for liquidity and the stop orders activation;
  • full control over option positions;
  • various technical methods;
  • analysis of the motivation of other market traders.

We hope that our in-depth article about turbo options left you without any questions, but if you still have some then don’t hesitate to ask them in the comments below.

Open FREE binary options demo-account

Add comment

Binary Options trading involves high risks which may not be suitable for every person. Never invest money which you can’t afford to lose and make sure you familiarise yourself with the basics of binary options before you start. MrBinary.co.uk is not responsible for any losses, as all our pages should be used for informational purposes only.

Copyright © 2014-2017 All Rights Reserved. Website about Binary Options - MrBinary.co.uk, Author: MrBinary

binary-options-secure-website