Currency binary options trading is the act of trading pairs in the binary market. While many traders focus on other assets since I’ve come from an advanced background in Forex trading you will find that my focus is generally on pairs.
When I trade binary options I generally look at the majors.
- EUR/USD: The euro and the U.S. dollar.
- USD/JPY: The U.S. dollar and the Japanese yen.
- GBP/USD: The British pound sterling and the U.S. dollar.
- USD/CHF: The U.S. dollar and the Swiss franc.
I find that these pairs have the most consistent market movements and thus are the easiest to predict. They are staples in just about every binary options software that I use in my daily trading.
Currency Binary Options Trading
I mentioned I have a background in Forex which is helpful and this also relates to pre-built strategies. While currency binary options trading has been available for years it’s only just recently started to gain a larger following. On the other hand, Forex has been popular for a much longer period of time. This has made it easy for me to take Forex strategies and systems created by successful traders and adapt them to binary options.
This doesn’t always work, but there are definitely systems and binary options indicators that have been used in the Forex market with some success. Traders who like short term expiry times could find Forex scalping strategies and have quite a bit of success (if the strategies are good of course).
So that’s pretty much it for today. I hope that my article on currency binary options trading opened your eyes to some different areas of the binary market you can attack. You don’t have to trade specifically stocks, or indices the binary options market is open to a lot of opportunity and flexibility so take advantage of it.
Later today I will be putting together my binary trading income report for the month of April so please come back and check that out as well. I had a really strong month and I expect it to get even better moving forward. If you have anything you would like to add to this educational article please leave your thoughts below.