Trading binary options for a living is a dream most traders have. This is what it looks like and how to get there.
In this article, Trading binary options for a living, you will learn:
- What the day of a typical professional binary options trader looks like,
- How you can find out whether you have what it takes to become a professional trader yourself, and
- Where you can find all the information you need to start your trading career.
With this information, you will immediately be able to know whether you want to become a binary options trader and how you can become one.
What would my day look like if I am trading binary options for a living?
|8 AM||You get up. Your country’s stock exchanges open at 9 AM, which leaves you enough time for a relaxed breakfast and a shower.|
|9 AM||Your country’s stock exchanges open. You take a look at the first market data and find a few stocks that look like a good investment today.|
|9.30 AM||You check today’s financial news. The government will release new unemployment statistics at 1 PM, which should provide you with more trading opportunities.|
|9.45 AM||You check back with the assets you found in the morning. About half of them do exactly what you predicted what they would do. You invest in them, placing your first three trades of the day. Your expiries range from 15 minutes to 2 hours. You decide to get another coffee before you get the first results.|
|10 AM||With your coffee in hand, you get the result of your first trade. It’s a winner, a good start. You’re up 70 percent for the day and decide to catch up on your favorite TV series until you get the results of your other trades.|
|11.45 AM||The results of your other two trades are in. You won one and lost the other. You are two for three on the day and have already made a nice profit. As you check back on your three assets, you find that one should provide you with another sure trading opportunity. You invest again. With an expiry of one hour, you have enough time to go for lunch in your favorite restaurant.|
|12.45 AM||Your last trade was a winner, too. While you have already made enough money for the day, you still want to wait for the unemployment numbers that your government will release in 15 minutes. You open your broker’s trading calendar, which tells you exactly which numbers the market expects, and which numbers would be a positive surprise and which numbers would be a negative surprise.|
|1 PM||The unemployment numbers are released. They are better than expected. With your broker’s guidelines in mind, you immediately know that you should invest in rising prices.
You decide to split your investment into three trades:
|2 PM||Your first two trades of the afternoon are over. Since they were relatively safe predictions, you won both of them. While you would now be free for the rest of the day, your success convinces you to take a risk: you make a high-risk/high-reward trade with an expiry of 10 minutes. It might not win, but since you have traded well so far, you can afford to make things exciting.|
|2:10 PM||As expected, you have lost your risky trade. While you are a little sad, you regret nothing. You could afford the risk, and trading should be fun, too. You decide to enjoy the weather and meet your girlfriend in the park.|
|5 PM||Your stock exchange closes, and you get the result for your end-of-day trade. While you are in the park, you pull out your smartphone, open your broker’s app, and check your result. You won. Trading the unemployment data was a great opportunity, and you made the most of it. You are proud of yourself and a bit richer.|
If that vision of a day sounds appealing to you, there is an easy, risk-free way to find out whether you have what it takes to become a binary options trader. This way is a demo account.
With a demo account, you can test binary options with play money instead of real money. With all the features of a regular account, you can test yourself and your trading skills under realistic conditions. If you have what it takes, great. Invest real money, and you could soon live the life you read about above. If not, you have not lost anything, but had some fun.
This offer is too good to pass up. Check our top list of the best binary options demos available, and you will find the ideal demo for you.