These days, many traders are into 60 second binary option trading because they appreciate this fast-paced alternative to make a profit. Consequently many offshore brokers are now offering this option on their trading platforms. Here we will discuss the what may be the best 60 second binary options strategy for you.
Advantages of Trading 60 Second Binary Options
Some traders complain that 60 second binary options have a relatively poor payout, at around 70 percent. However, this aspect is compensated by the high frequency of trades. It may also help shift your mindset to put it in perspective. After all, how many other ways are there to gain a 70% return on your investment in just 60 seconds?
Due to the inherent noise level on the 60 second chart, it’s also generally considered more difficult to be accurate with these trades than with 15 minute (or longer) trades. You are dealing with a small amount of price data in each candlestick when you are trading 60 seconds options from the 60 second chart. However with the right 60 second binary options strategy, it becomes fully possible to make winning trading decisions and correctly predict what may happen in the next minute in relation to the price movement.
Best 60 Second Binary Options Strategy
We believe that the best 60 second binary options strategy is based on support and resistance levels in the market. Step one is to find these support and resistance levels where short-term bounces can happen. For this purpose you can use Fibonacci retracement levels and Pivot points. You would use them in the same way you do while trading longer-term instruments on other time-frames.
Trade Set-ups On The First Touch Of The Level
Placing a higher volume of trades when you’re trading instruments with a high level of noise can potentially play to your advantage. However, our best 60 second binary options strategy is based on a lower volume of trades taken with higher accuracy setups.
Look for an initial reject of a price level that you already marked off ahead of time. In case it actually does reject the level, this will further validate the robustness of the price level. Then you can get in with your trade on the subsequent touch. If you’re trading 60 second options you need to keep the proper balance between being super conservative and over-trading setups that aren’t actually there. Be patient!
Select Your Trades Well
In our 60 second binary options strategy you shouldn’t blindly trade all touches of support and resistance line. Consider price action expressed in candlestick formations. Also look at types, momentum, trend direction, and other signals that take into consideration how your markets of interest behave.
What You Need To Know
Before trying to apply our best 60 second binary options strategy as described above, you need to know how to draw a trend line in an uptrend as well as in a downtrend. The trend line is your primary tool in this strategy. Another thing you need to know is how to draw support and resistance lines on the overall trend line.
Tools To Use
The tools to use with this 60 second strategy are the binary Indicator Laquerre_BO set for gamma 0.25 and analysis tools for trend lines, as well as support and resistance levels. The time frame of your analysis is on the 1 minute chart. You can use this strategy in any trading session.
The assets suitable to trade for this 60 second strategy are commodities such as gold, and currency pairs such as EUR/USD, EUR/JPY, USD/JPY, AUD/USD, USD/CAD, and GBP/USD. You have to open and close your trades at the same bar. Your expiry time is 60 seconds.
How To Execute Your Trades
The idea behind our 60 second binary options strategy is to wait for the price action to test the support and resistance points, and consequently take your trades on the subsequent touch after validating the robustness of the price level. For best results execute put trades in down trending markets, and call trades in up trending markets.
Trades Algorithm Rules
In up-trends buy Call binary options:
- When the market is oversold as indicated by the Laquerre_BO tool that goes back above 0.15 from below
- After the support line is validated and when the price falls back to the lower support trend line
- Buy your Call Option at the open of the next bar
In downtrends buy Put binary options:
- When the market is overbought as indicated by the Laquerre_BO tool that goes back below 0.75 from above
- After the price of your asset rises back to the upper resistance trend line
- Buy your Put Option at the open of the next bar
Conclusion
Today, 60 second binary options have become very popular because they provide a fast track to profits. With the right strategy, traders can keep their trades on the winning side. By following the best 60 second binary options strategy as presented in this post, you too can benefit from consistent winnings with 60 second binary options. Good luck!
