Cheating binary options: the best ways

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How to cheat binary options

There are often messages from traders on the Internet about how they manage to “cheat” binary options . The essence of such posts comes down to the fact that the authors tell how to beat any binary options broker . The appearance of such messages for some traders looks unusual, since many believe that binary options are a casino , and it is impossible to beat the casino. But you can constantly make a profit by trading digital contracts if you understand all the features of this area of financial activity. By following certain recommendations described below, many manage to “cheat” in a short time and start making money on binary options .

Content:

What are binary options

A binary option is a type of exchange contract that is based on a specific asset: a stock, a currency pair , an index, a cryptocurrency , and so on. To make money on it, a trader must place a bet. That is, users need to decide whether the price of an asset will move up or down, and then buy the corresponding contract, setting the expiration time (the moment when the deal will automatically close).

One of the main advantages of trading binary options is that the trader does not need to constantly monitor the price chart. Earnings depend on whether he guessed the direction of the asset's exchange rate or not. If yes, then he receives a certain, predetermined income. Otherwise, he loses the entire amount invested in the transaction. It is on this simplicity that all broker deception schemes are based.

Why brokers provide binary options trading

money and golden man Those traders who have learned to cheat binary options receive a source of constant and high income. This raises the question of why brokers provide clients with the opportunity to trade digital contracts. Companies take a high risk because if many professional traders cooperate with them, they will go bankrupt due to the fact that most of the transactions will be successful for speculators. But in reality , brokers make money from binary options . The reason lies in the fact that, as statistics show, the majority (more precisely, about 90%) of traders make mistakes and lose money. This high figure is due to the following:

Refusal to analyze. This is due to the laziness of traders. Binary options give the false impression that they are easy to make money on. As a result, traders, when making transactions, are limited to only superficial analysis.
A constant stream of newcomers. Novice traders also often immediately start trading without even understanding the basics. In addition, many beginners have the opinion that they are cheating with binary options and for them it will be easy money that does not require any skills.
Gamers. This group includes a large number of clients of honest binary options brokers . Such people do not work with digital contracts, but strive, like in a casino, to make a profit on luck by placing bets.

These groups of traders provide the bulk of brokers' income. Therefore, the success of professional traders does not affect the financial condition of such companies.

What you need to know about technical analysis in binary options

When we cheat with binary options, we often forget that the basis for successful trading of digital contracts is technical analysis . And for this, a trading platform for binary options or a MetaTrader 4 terminal is used. The broker's trading platform also provides access to live trading and a demo account .

Each terminal, regardless of functionality and interface, is distinguished by one feature: ease of implementation. Therefore, some professional traders experience certain difficulties when switching from MetaTrader 4. The latter is tailored for technical and fundamental analysis , which are usually not supported in broker programs. In the latter case, traders can only rely on a certain set of indicators that are allowed to be transferred to charts.

As a result, users are deprived of the ability to conduct analysis. In particular, many brokerage programs do not allow drawing lines on charts, thanks to which traders, for example, mark support and resistance levels necessary to determine the moment of price reversal.

Because of this, professionals and beginners make the same mistakes - they decide to open a trade, relying on signals from one indicator. Therefore, in order to learn how to really cheat binary options and get a constant income, you need to conduct market analysis on third-party charts. The functionality that is available in MetaTrader 4 is suitable for this. But it is worth remembering that indicators do not always give signals, when they occur, you need to immediately open a deal. They often anticipate events. For example, a trader trades with an interval of one hour, that is, the candle reflects the situation on the market for one hour, and the trader, using a signal from the indicator for the minute chart, opens a deal on an hourly candle with expiration in one hour. Accordingly, the transaction will automatically close only after an hour, which ultimately can lead to losses.

graph analysis Users who make decisions based on graphical analysis face great difficulties. For example, there was a strong rebound from the support line. In this situation, traders are waiting for the continuation of a new movement. But at this moment there may be some calm in the market, which lasts several candles. Therefore, when working with binary options, you cannot analyze the chart in the same period in which trading is carried out.

How to make money on binary options

To learn how to make money on binary options, you need to conduct analysis on other timeframes . That is, you need to assess the situation first on large time intervals (this allows you to understand the current mood of the market and determine the direction of price movement over a long period), then on smaller ones. Having received at least three signals to buy an option in the direction of the trend, you can open a deal.

Regardless of what program a trader uses to trade, it is important to learn how to analyze on a demo account. This will allow you to understand the features of the proposed functionality without losing money due to errors.

Also, before you start trading, you should choose a strategy and test it on a demo account. If the broker does not provide access to the latter, it is recommended to refuse cooperation with him.

To reduce the risks associated with incorrect analysis, you should work on long- or medium-term charts. Daily or 4-hour time frames are considered optimal. Earnings with this strategy may be small. But thanks to this approach, you can deceive binary options. That is, such strategies provide more time for analysis and allow you to immediately cut off unprofitable transactions.

In addition, for successful trading you always need to analyze profits and losses in order to understand whether the chosen strategy helps you make money and how you need to adjust the chosen approach to trading.

Why is it important to stick to a trading strategy?

Despite the fact that earnings on binary options depend only on whether the user guessed the direction of price movement or not, the principle of working with digital contracts comes down to market analysis. Moreover, in this case, completely different approaches can be used. In particular, trading terminals provide many indicators that simplify analysis.

For example, using RSI in combination with indicators, you can predict the direction of price movement with 90% accuracy. This index, taken with a period of 5 and a level of 50, in combination with the moving average (also a period of 5), draws a corridor on the chart, which helps to determine the moments of reversal (bounce from the lines) and constantly make a profit:

rsi and sma on the pocket option chart

Often traders, trying to increase earnings, look for moments of price correction. Therefore, they open trades against the current trend . But such a strategy almost always brings losses. To avoid losses, it is recommended to open trades only in the direction of the trend. If a correction occurs in the market, you should wait until the price movement recovers.

buying a call option on a pullback

Important principles that allow you to cheat binary options

Below we have listed several important factors that will allow you to beat binary options brokers. So, it is very important:

Adhere to the principles of money management and risk management . You can invest a small percentage of your deposit into each trade. If you have a large capital, you are allowed to invest up to 3-5% of the available amount in one operation. With a smaller deposit, you should minimize the amount of investment in the transaction. If you do not follow this rule, then after several unprofitable transactions the money in your account will run out.
Stick to simple strategies. The success of trading often depends on how well a person understands this activity. Therefore, you should not use complex strategies in trading. It is especially dangerous to use risky methods such as Martingale . It is important to thoroughly understand how the strategy works. Then it is easier to change it if transactions do not bring profit or the amount of income is lower than expected.
Cooperate with reliable brokers. Reliable binary options brokers are interested in long-term cooperation. Therefore, such companies offer trading terminals with extensive functionality and provide clients with all the necessary tools for successful trading. In addition, reliable brokers do not prevent the withdrawal of earned money.

Conclusion

Binary options are both a simple and difficult to understand tool for making money. By investing in digital contracts, traders can make large profits. But for this it is important to trade in an organized manner, constantly analyzing the market.