If you are into crypto currency trading, you might as well try Binary Option. Don't worry if you don't know how to do it. I will be giving you a way to better earn with the help of my tutorial. This is a simple analysis, you don't need to be an economist to learn all these. In fact it is better not to learn all these because you'd over analyze it if you do.
Day Traders has this thing we call "paralysis by analysis" to which a trader just can't decide whether he go short or long all because he sees all possibilities that the trend will go against his position in the market. Bitcoin users like you are lucky enough to have binary option trading because you don't need to register and submit documents to the brokers as compare to FOREX traders. All you need is an email and your bitcoin.
Anyway, lets just move on and learn quickly how to play binary trading with bitcoin. First things first, in order to win you will have to decide whether the market is going to go up or down. Lets say you bet that the market of BTC/USD is going up within the 5 minute time frame, so you hit UP button and waited. If indeed that BTC goes up over USD, then you get to win the 180% bet. What does 180% mean? so this is it. if you just bet $1 worth of BTC and you won, you'll receive $1.80, got it? If you bet $10 worth of BTC, its going to be $18.
Now, in order for us to forecast whether the market goes UP or DOWN, we need to also learn how to read the chart. This is important, in fact the most important thing you would like to learn is to know the future. Having the right information ahead of time is exactly what you need to have. its somewhat like cryptotrading, the news is very important that you would have to subscribe the developers newsletter.
I'm making this pretty straight forward though so you learn this quick. One thing that you need to install to have the information ahead of time is the metatrader, download it from Oanda.com or FXCM.com, they are Forex Brokers. Its free so no need to worry and its going to look like the one you see below once you're done installing it.
You can see that I've picked 1Hour time frame, that means those vertical green and red candlesticks has worth 1 hour of information. if you click the other time frame like 15minute, that means every candle sticks has 15 minutes worth of information. The above set up with moving averages (MAs) and RSI indicator applies to 1Hour time frame and here are its settings.
5 Exponential Moving Average (EMA) is YELLOW
10 Exponential Moving Average (EMA) is RED
RSI indicator (10 - Apply to Median Price: HL/2) -- One level at 50.
To add moving average you click > Insert > Indicators > Trend > Moving average. To add Relative Strength Indec or RSI, click Insert > Oscillator > Relative Strength Index and then you set up these parameters (10 - Apply to Median Price: HL/2) -- One level at 50.
Now, here is how to bet on binary option:
Bet UP if the Yellow 5 EMA crosses the RED EMA from underneath.
Make sure that the RSI is also be approaching 50 from the BOTTOM or had crossed 50.
Bet DOWN if the Yellow 5 EMA crosses the Red EMA from the top.
Before doing so also make sure that the RSI must be approaching 50 from the TOP or had crossed 50.
But this is for the 1Hour Time Frame, and we don't have this on secondstrade.com, the only they have is 30minutes and 720 minutes, but this applies to them as well if you do it on EUR/USD on 30 minute time frame of secondstrade.com
Now, I just need to emphasize this to you that in the pair BTC/USD, BTC is the base currency and on EUR/USD its the EUR.
Its not safe to say that BTC/USD chart is also on bull trend if the metatrader chart of EUR/USD is on bull trend. So be careful, if possible just bet when the chart is obvious like how its been demonstrated here. You might assume because the USD is going down and so BTC and EUR's value goes up as well. if you find yourself betting which you wonder why you suddenly did it, then you probably have not waited the obvious trend. Too late though because binary option doesn't let you get out of the position unlike when you do it on FOREX trading.
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