-Welcome to the second video in this binary options 300 training series. This is Binary Options 302 or BO302 Time Sensitive Trades brought to you by binaryoptions.education.
This video will be different when compared to other videos in this series and series previous in a sense that it’s going to be relatively short and to the point. It’s been made to give you an insight and to gain some advice from myself about time sensitive trading.
Obviously, some forms of binary options trading is more time sensitive than other forms of binary option trading. It’s generally down to the expiry times of the binary options that we’re trading. The longer the expiry time, the less time sensitive the option will be.
In the previous video, Binary Options 301 60 Second Options, I gave two examples of trading strategies for 60 second options. Analyzing 60 second charts or one minute charts. And both examples that I gave you were highly time sensitive.
It’s imperative with that sort of trading that we place a call or put when we have all of our signals and as soon as the minutes candle or 60 second candle closes. That’s how time sensitive this form of trading is.
So let me give you some advice and guidance to help you ensure you are placing your calls and puts at the close of candles. Firstly, why do we need to place calls and puts at the end of a candle as soon as a candle closes and a new one opens? The reason being, that potential winning trades could be losers.
If we were to open up a 60 second option five, 10 seconds late, it could be in those five to 10 seconds after the close of the next candle price moves against us and we end up having a losing option when it could’ve been a winner. But also, if we’re not paying attention, it’s easy to miss 60 seconds of analyzing a charts, and that may have been our 60 seconds to open a call or put and profit from binary options. So trades can also be time sensitive in the sense that we don’t want to miss out on opportunities.
So I have some advice for you. Some of this advice is better for slightly longer expiry times, but let me go through this advice. And I’ll explain as I go through. First of all, set an alarm of when a candle is going to close. Obviously you don’t need to set and alarm with 60 second trading binary options.
On a 60 second chance with 60 second expiry times is highly time sensitive and you’re going to have to be glued to your screen to trade such options. But perhaps, if we’re trading five minutes expiries, 15 minute expiries, 30 minutes expiries, it’s important to set my alarm, perhaps, two minutes before a candle closes to remind you to pay attention to the close of the candle. And get ready to open a call position or a put position.
And then, to go hand in hand with setting an alarm, my advice is not to sit and watch the ticks. Now what I mean by that is don’t be glues to your screen unnecessarily and watch every tick or every movement on the charts as price moves up and down. Once again, with have 60 second options you need to be glued to your charts and to pay attention.
But once again, with longer time expiries, anything from, I would say five minute expiries up, don’t just sit there and watch the ticks. Do something more productive with your time. You don’t need to be watching your positions go from red to green or green to red. Use that time to analyze other charts or do something totally unrelated, such as surfing the internet.
The reason I guess that bit of advice is we all have limited attention spans and our minds will soon drift off. But if we’re only coming to our charts and if we’re not looking at our charts when we need to, when our alarm goes off two minutes before a close of a candle then our concentration is going to be high at those times, when it needs to be high. When a candle’s about to close and we need to potentially look for signals and open a call or put position.
And then my third bit of advice for 60 second expiry times and any expiry time is to enable one click trading. And what I mean by that is have the amount you’re going to invest ready, and have the screen laid out in front of you in such a way that when the candle does close all you need to do is to make one click. It’s no good waiting for a candle to close, and then once that candle closes it takes you five to 10 seconds to get the position open or the binary option open.
Jump all those hurdles first so you only have to click the mouse once and the binary option will be open as soon as the candle of closes.