One of the biggest allures of binary options trading for many new traders is the 60-second binary option trade. This is a type of trade which lasts one minute from start to finish—that’s the expiry period. The draw is of course that if you win, you win in a minute. And if you get antsy and don’t like to wait, this can be an appealing proposition. You can’t forget the flipside though, which is that you can lose in a minute as well. 60-second options typically allow you to invest a smaller sum of money, which is a good thing for new traders, but not as good as choosing to use longer expiry periods.

Beginner Traders May Want Longer Expiry Period

Why should you trade a longer expiry period just because you’re a beginner? A lot of it just comes down to learning your way around binary options trading. Let’s say that you deposit 250 USD in your brand new account. Maybe your binary options broker is flexible and allows you to invest as little as 5 USD in a 60 second binary options trade. Assuming you don’t get anything back if you lose (for the sake of simple math), that means each of your trades is 2% of your account (not a bad amount to be trading for money management purposes). You could lose 50 trades in a row before you lost all your money. Consider that if you had an amazingly bad streak though and really did lose 50 trades in a row, that’d take you under an hour—less than an hour to burn through 250 USD.

While it isn’t likely you’d lose all your money in an hour this way, you could still pretty easily do it in a day or several, if you weren’t constantly trading. Wouldn’t you rather make your money go farther, especially if you’re actually trying to learn some strategies? If you give yourself longer expiry periods, you have the chance to take your losses more slowly and build up your skills. If your trades last an hour, a day, or even a week, you have a lot more time to learn your lessons and apply them without losing everything in your account.

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  90% $10 $1
 
  200% $50 $10
 
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200% $50 $10
 
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  85% $250 $10
 
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  85% $250 $5  
 
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The downside is that most brokers set a minimum trade size for other trade sizes of 25 USD. That’s 10% of 250 USD, so if you made the minimum deposit, you could only lose about ten trades in a row before you blew your account—which is not acceptable. So if you do trade longer time periods and more money, you should rationally have more money in your bankroll to begin with. If your trading bankroll is 500 USD and you trade 25 USD, that’s 5%, which is a more reasonable number. You could lose 20 trades in a row before you blew your bankroll. Calculating this stuff may not be fun, but it can help you get more out of your money and stay in the game for longer.