A binary option is when a trader chooses either a yes or no option on the price of any finance asset and always the end result is that the trader takes either the all assets or nothing at all,sometimes that nothing means something small only if the owner option expires.Some of the things that will help you understand the binary options are:
Learn the two possible outcomes.
If you are a trader if binary options you should always know the chances of your outcomes between the two choices,always there are two options usually call put and call,put means that your prediction of price will most likely decline while call is a show of price increase,therefore one should be able to predict whether the price will be high or low. Binary Trades by binary can teach you so many cool ways to earn from day trades.
Determine your position
Check the current market terms around your chosen asset and know whether the price is likely to rise or drop If what you feel is correct definitely your payoff will be a good value. Always the back rate on every winning trade will be established by the brokers on time.
Know the advantages of trading binary options over traditional options.
It is always very simple to trade with binary options because what you only need to know is the direction of the supposed price of the assets,while traditional options requires both direction and magnitude,with traditional options no assets are ever purchase or marketed,it is good to know the the different advantages.
Confirm the implicit transaction price of a binary option.
This kind has many brokers who normally don’t take payments for any trade done,it is always good to go for such ,an option with no commission nor fee..
Understand the percentages of time.
Always the amount of time you will be given to predict the correct option,it is good to know because the more time you are given the higher your chances of getting something.
Check the terms and conditions.
It is good to know the rules of any option,some have different term and conditions,others can be directly opposite,as a buyer or trader you will be force to put yourself in a position that will help you predicting and directing you for a nice price.
Always know the transaction costs ahead of time
Sometimes transaction cost changes depending on different type of options and usually the traders have to undergo many transactions before getting the real profit,if you want to make profits with either options just familiarize yourself with transaction options.