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When you step into trading, it takes you some time to develop a command over the different trading strategies. Now when you are a new trader, then the best approach is to go slow and go with those trading strategies that are simple to understand. This way the implementation of the strategy will not be a difficult process for you to follow. There are many different trading strategies to choose from. However, there is one strategy that has become quite popular with the traders. It is the 60 seconds trading strategy. There are endless incentives of opting for this strategy so let us look at what it has to offer to us.
Why 60 seconds trading, strategy is popular with new traders
There are traders out there who can make accurate calculations based on their experience. They can predict the market. However, it is an entirely new story with the new traders. They cannot make huge deposits and huge investments so what a new trader need is a quick way to earn profits. The 60 seconds strategy is an answer to their concern. However, even a new trader needs basic market understanding to implement this strategy with ease. Another reason 60 seconds trading strategy is more popular with the new traders is that long-term investments require experience, so in this situation the 60 seconds trading strategy can be a good alternative.
The following brokers are good for 60 seconds trading.
What are 60 seconds trading?
60 seconds trading strategy came on the forefront way back in 2012. It can be defined as Call/Put trading option that has an expiry of 60 seconds. The general rule of the thumb is that if you believe after 60 seconds the price of an asset will increase then you will go with the call option. If you feel that the price of the asset will decrease after 60 seconds, then you will go with the put option.
Step by Step guide to 60 seconds trading
Follow the three basic steps below if you want to be a success in 60 seconds trading.
You have first to find an asset that is doing well. For example, if the asset trades above the middle of the chart this means that popularity of Put is more than the Call option. If the asset trades below the middle of the chart, this means that the popularity of Call option is more than the put option. Most trading platforms also offer a trader’s choice bar that gives you the relevant assistance in choosing the call or put.
Now as per the chart and the results of the trader’s choice bar you will go for a Call or put option. You will set the expiry time to 60 seconds when you trade. Both the indicators, the chart and the popularity bar have to agree for 60 seconds trading strategy to be a success.
Now let us understand the 60 seconds trading with the help of a real example.
If you decide to go with the EUR/USD asset, then look at the chart, and you will see that the trading asset is doing quite below the middle of the chart. However when you look at the trader’s choice bar, you will see that the popularity of Put is about 62 percent, and the call popularity is about 38 percent. Thus, the 60 seconds strategy will not be a success here. It is essential that you keep an eye on both the chart and trader’s choice when trading an asset and just do not depend on just one indicator.
Now look at another example. The chart shows a GBP/CHF trade. Now if you look at the chart, the asset is doing well below the middle of the chart. The Trader’s choice bar also shows that more traders are in favor of the call option, so this is an ideal situation for 60 seconds trading strategy to work.
Possible outcomes with the 60 seconds trading
There are three possibilities when you are trading with the 60 seconds trading strategy.
- If the trade expires in the money after 60 seconds, then this is an ideal scenario for the trader because this will help earn a profit. This means that the asset reached the predicted increase in the price.
- Another possibility is that the trade expires out of the money. Well, this is less likely if you have the relevant knowledge about the market. This means that the asset price prediction was not correct on the part of the trader.
- There is a third case as well. This situation is known as at the money. This means that the asset expired at the same price with which it started.
Benefits of 60 seconds trading
You must be quite keen by now to know the benefits of 60 seconds trading so here are the details.
- There is no limit to trading. You can make as many trades as you want. This will help you to cash on all the short-term opportunities.
- The best part is the quick returns that will be coming your way. You will not have to wait for a long time. You can earn the profit and re-invest the profit again.
- Using the 60 seconds trading strategy is so simple. Simply select your asset, choose call or put and set the expiry to 60 seconds. Trading cannot get easier than this.
- You have the opportunity to trade with multiple assets at the same time.
The strategy towards 60-second trading
Now before placing the trades the most important step is to select a reputed broker. There are many credible and regulated brokers available. You have to choose the broker. Try their demo account. You can try out the 60 seconds trading strategy with the demo account first, and if you are contented, then you can switch to the live trading account. A credible broker will offer you loads of assistance in the form of educational material, signals and webinars so avail this help. This way you will be able to execute the 60-second trades in a better way.
Essential tips for 60 seconds trading
The following tips can be quite helpful when you are making 60 seconds trades.
- It is very important to trade with those assets for which you have a fair amount of knowledge. This way trading will become less complex, and there are little chances that you will end up with losses when trading using the 60 seconds trading strategy.
- Most platforms offer a list of popular assets to trade with. You can try out these assets. What the popular assets show is that those assets are currently doing well in the market so it would be a smart idea to go with those assets.
- You should try to place multiple trades a day. This is the biggest incentive of 60 seconds trading because you get quick results, so you know how your trades have been doing.
- Initially, it is always better to use 60 seconds with those trading platforms that offer rebates. When you get out of the money refunds, the risk factor reduces significantly.
Best Brokers for 60 seconds trading
Now before we move on to the list of brokers that are perfect for 60 seconds trading let us look at the criteria to evaluate the efficiency of the broker.
- The broker should be having a great reputation in the trading community.
- The return rates should be good enough.
- Now the new traders often need the assistance of the customer support when trading binary option so the trading platform should offer adequate customer support.
- Make sure that your broker allows timely withdrawal as it is the most important factor when you are trading binary options.
- The broker should offer a great trading asset selection so that you learn and earn well at the same time.
The following brokers are ideal if you are into 60 seconds trading.
Now that you have acquired the basic perception of 60 seconds trading try the strategy today and start earning your profits.