More than most widely-used technical indicators and widgets. Always stay up-to-date on what is happening in financial markets with our customizable price alerts. Risk Management. Trading Community. Join massive IQ community, discuss trading ideas and opportunities, or simply follow other traders with features like Traders' Sentiment and Community Live Deals. Start Trading in 3 Steps Register. Master your skills with a practice account and educational content.
More than instruments with null minimum deposit for your ultimate trading. Best Technology Application. Award-winning broker recognized and praised by the most respected experts of the industry. View all awards. Licensed and regulated since , IQ Option is a broker to millions of loyal clients all over the world. More about regulation. The first thing to do is to identify when different markets open based on your timezone. For example, a trader in Vietnam will benefit from the open Asian and European markets during the day.
The North American markets on the other hand are open when it's night time in Vietnam.
How to Succeed with Binary Options Trading 2021
Your next step will be to identify when news releases are common in different markets. All market news are usually released in the morning. But, consider the markets. If a news item affecting USD is released, it will be late evening in Vietnam.
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If a news item affecting GBP is released, it might be afternoon in Vietnam. Using this knowledge, you will have a good idea about when it's best to trade a particular currency pair without being affected by a news release. You're probably wondering whether you should trade dozens of currency pairs trying to avoid volatility caused by news releases.
I'll address this question next.
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I know you think this would be leaving money on the table. With over 80 currency pairs on offer on IQ Option why would you want to concentrate on just 1 pair? The reasons are explained below. In trading, knowing your market plays a huge role in your success. How much time would it take you to truly understand the over 20 currency pairs — and profitably trade them?
Choosing just one pair shortens the time between learning and trading. It also makes it easier to transition between trying out a strategy on the IQ Option practice account and implementing it profitably on the real account. Now using the steps to avoid news releases when trading, you'll know the exact time frames it's safe to trade your currency pair. So you won't be pressured to trade every single hour of the day just to make profit. Think about this scenario.
Now which one will you follow more closely? You want to make profit in all trades. But what if they all lose? That's a lot of money to lose at once.
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Trading one currency pair allows you to follow the market closely. Even if a trade loses, you'll be able to analyze the charts and discover what it is you did that led to the loss.
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Also, trading just one pair means you won't need to learn how to use many strategies and indicators. It's time saved and potentially more profit for you. Consider the scenario I shared above. Having more than 1 open trade means you are increasing pressure on your mind. Anxiety, fear, greed and other emotions are will eventually take over especially as the trades near their expiry.
It becomes harder to concentrate. Once concentration is lost, it's very likely that your trading performance will decline leading to losses. Trading a single currency pair reduces this mental strain. It allows you to focus on that specific trade without having to worry about how much money you could make or lose if you had several open positions. Choosing the currency pair to trade should be a subjective decision only you can make.
Following the steps I outlined above it should be easy. IQ Option offers hundreds of options derived from different asset classes. Your main objective is to find the right financial instrument to trade from these assets. In many instances, you won't find many suitable trade entry points when trading currency pairs.
But whenever you find one, profits are almost assured.
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Trading options is a waiting game. Now, to increase your chances of making money trading currency pairs, I would suggest using strategies that work both when the markets are trending as well as ranging. This will open up more opportunities to trade profitably. What is your favorite currency pair on IQ Option? Why did you choose it and what's your trading strategy.
Introduction Video – How to Trade Binary Options
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