Are Binary Options Safe?Trading 60-second options is a fun, thrilling way to get to fast profit—or losses. When you are first starting out trading, it is more likely than not that you will experience a substantial number of losses before you get really good at trading, especially if you have not done a lot of testing. What’s Testing? Testing alone may not make you profitable, however, if you are intent on starting out fast. If you have already traded longer expiry times, you may be ready to make the leap to 60-second trades. If however you are completely brand new to trading binary options and have never traded them before, you may want to take some time to become successful with longer expiry periods before you try your luck or test your skill with 60-second options. Why?

Here are 3 excellent reasons.

1. It is easier to learn the platform when you aren’t in a rush.
2. You have more time to make and correct trading mistakes.
3. You can learn your personal trading style.

I will break these points down one by one. Hopefully by the time you have read through these reasons, you will be ready to give slower expiry periods a chance before jumping into 60-second options. None of this is intended to dissuade you in any way, just to give you some perspective which should help you to become profitable, no matter what expiry times you ultimately decide to trade.

Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
200% $50 $10
 
85% $200 $20
 
85% $100 $5
 
85% $10 $1
 
95% $250 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
95% $250 $1
 
80% $10 $0.10
 
160% - 180% $50 $2
 
95% $250 $1
 
90% $250 $1
 
80% - 90% $250 $5
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
200% $50 $10
 
95% $250 $1
 
90% $50 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  200% $50 $10
 
  85% $200 $20
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
200% $50 $10
 
85% $50 $1
 
85% $200 $20
 
85% $100 $5
 
95% $250 $1
 
85% $10 $1
 
80% $5 $1
 
80% - 90% $250 $5
 
80% $250 $25
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
90% $50 $1
 
85% $100 $5
 
85% $10 $1
 
85% $50 $1
 
85% $200 $20
 
95% $250 $1
 
80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  85% $50 $1
 
  200% $50 $10
 
  95% $250 $1
 
  85% $200 $20
 
  85% $10 $1
 
  85% $100 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $250 $10
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $100 $5
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $50 $1
 
  90% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $10 $1
 
  85% $50 $1
 
  95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
90% $10 $1
 
85% $200 $20
 
85% $100 $5
 
95% $250 $1
 
80% - 90% $250 $5
 
85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  85% $100 $5
 
  85% $50 $1
 
  85% $10 $1
 
  95% $250 $1
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  90% $10 $1
 
  200% $50 $10
 
  85% $250 $10
 
  85% $50 $1
 
  85% $100 $5
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
200% $50 $10
 
95% $250 $1
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  200% $50 $10
 
  85% $250 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  85% $250 $5  
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
  85% $50 $1
 
  200% $50 $10
 
  85% $200 $20
 
  95% $250 $1
 
  85% $100 $5
 
  85% $10 $1
 
  80% - 90% $250 $5
 
  80% $250 $25
 
Broker reviews Blacklist rating Trade now Early expiry Avg returns Min deposits Min trade Ratings Trade now
95% $250 $1
 
85% $10 $1
 
80% - 90% $250 $5
 
85% $50 $1
 

 

1. It is easier to learn the platform when you aren’t in a rush.

Binary options platforms are designed to be simple and easy to learn to use. Another great thing about them is that there are really only a few basic software platforms out there. Most binary options companies use those same few platforms, so once you learn how to use one, you know how to trade at many different websites. They are also pretty similar in design, so after you have gotten acquainted with your first platform, you will likely find the others very intuitive.

That does not mean you cannot make stupid mistakes though when you trade. Wouldn’t it be terrible to lose money just because you forgot where the early closure button was, or because you entered your wager into the box incorrectly to begin with? Demo testing is a good way to get to know the ins and outs of a binary options platform, but another great step to take is to do some trades on longer expiry periods. Click here for demo testing

Picture this scenario. You have entered long on a 60-second trade on gold, and then it occurs to you that you made a mistake, and missed seeing an important line of resistance which is going to probably prevent your trade from winning. Realizing that things are going against you, you look for the early closure button, only to realize that you are now 50 seconds into your trade and you forgot how to close out.

You find the option, but not before 60 seconds elapses and you lose your full wager. If you had managed to get out earlier, you could have cut some of your losses and saved money. How much easier would it have been to get out of that trade in time if you had a whole hour to make your decisions, or a whole day? You might even have managed to cancel entirely without losing any money, depending on the broker and situation. Doing some trades on longer expiry periods like this can help you learn your way around so that when you are under pressure in a fast paced situation, you can do what you need to quickly.

2. You have more time to make and correct trading mistakes.

While I just discussed having more time to learn how to avoid making mechanical errors in your trading, now I want to talk about having more time to make and correct actual trading mistakes, meaning problems with your trading system and how you follow it. If you do not have a trading system, you should get one. (Why? Use http://www.binaryoptionsblacklist.com/tips/should-you-use-a-binary-trading-system/ for details) If you are a serious trader who wants to make serious money, it is an absolute must. If you are a gambler who wants to have fun and maybe make some money, it cannot hurt to turn things to your advantage as much as possible.

No trading method is perfect, and no trader is either, so you should expect some mishaps when you start out. Some losses are unavoidable, but many are. It is especially common when you are first starting out to make mistakes which could be avoided in the future.

Here is a scenario of what could happen if you made these mistakes while trading very short expiry times:

You make your first trade, and you have $200 in your account and $10 invested in your trade. 60 seconds later, you have lost that trade, and with it, $9 of your investment. Now you only have $191 in your account. Figuring the loss was just a fluke, you invest another $10, hoping for a turnaround. You lose that trade too, and now are down to $182. You invest another $10, and this time you win 70%, so three minutes into your trading you have $189. You lose your next two trades, bringing you down to $171.

You’ve only been trading for five minutes, and already you’ve lost more than 10% of your account. You trade for another hour, still figuring that you are doing okay, and in that time, you win 5 trades and lose 8. If you continued investing $10 on all your trades, you’d be down to about $134 by the end of the hour. You’d be out of almost a third of your money in only an hour!

That’s a lot to lose in a short time period, and you could be just minutes away from falling under $100 if you kept trading, and you probably do not have the slightest idea what is going wrong or how to fix it. Now imagine if you had taken the time to start trading first on one hour or one day expiry times. You would have all those hours and days to think about what was going on while you were trading, and you would be far more likely to notice errors in your trading method or how you were applying it, and you would probably fix them in time.

If you needed to stop trading altogether for a bit to get things together, you would be more likely to actually see the need and do it. If everything is happening within minutes, you can lose perspective and not realize how far in the hole you are until you have lost everything. Once you get used to trading on slower expiry times, and find your trading method is working great, you can start trading faster expiry times. A trading method which already works great on hour long expiry periods may work great on one minute expiry times once you are used to applying it correctly.

3. You can learn your personal trading style.

Every trader is a unique individual, and that means every trader has his or her own personal style for trading. Part of your style entails figuring out what expiry times you are most comfortable with. Some traders do best with really long expiry times, and prefer position trades which last weeks or longer. Others do best with very short expiry times, like five minutes or 60 seconds. The majority perform best somewhere in the middle, staying in their trades for hours or days.

There are many factors that can impact trading style and expiry times. Your preferences might stem from psychological factors, or they might have something to do with your personal schedule and how you fit trading into your life. They also may be related to how many trades you feel comfortable placing each day. There are many different elements to consider. You should not assume that 60-second trades are your style automatically, since most traders are not good at scalping.

Try a few trades with hour long expiry periods or longer to see how you feel about the trades. You may well find that you are perfectly happy with those trades. Or you might feel the need to do even longer expiry times. Or perhaps you’ll feel a need to speed things up, and discover that you really do perform at your best while trading 60-second options.

Looking for a place to test out a 60 second trade? Try Traderush today!