Binary options are still very popular because a trader can literally achieve great results in a very short period of time. To prove it, in this article we will take a look at a contract type like the 60 second option.
What are binary options for 60 seconds
Binary options at 60 seconds (60 second options, 1 minute options, turbo, turbo options) – is a contract with a term of transaction of one minute. So, accordingly, the approach to work with such options must be special.
Most traders find 60 second binary options very attractive. This is due to the fact that literally in a short period of time, the investor is able to get up to 70-80% of the investment. However, everything is not as simple as it may seem at first glance.
Peculiarities of trading binary options 60 seconds
First of all, given the limited time, such contracts require a high level of concentration. Naturally, they are very similar to the usual binary options. But it is the fact that the expiration occurs in 60 seconds that requires a clearer analysis. Otherwise, it is possible to incur losses.
One of the peculiarities of trading turbo options is that a decision needs to be made in a short time frame. The fact is that we work mainly with the one-minute chart, where the time of formation of each candle is exactly 60 seconds. Accordingly, if a signal appears, it is necessary to make a decision immediately.
Binary options 60 seconds are very popular among the beginners. However, the practice shows that only professionals are able to cope with them and work profitably. For the others such contracts turn into a regular roulette.
Indicators for Binary Options 60 Seconds
It is necessary to say a few words about the 1 minute binary options indicators, which can be used to get trading signals.
The best sources of signals are oscillators like RSI or Stochastic. Why? The fact that these algorithms are ahead of the price and, accordingly, provide more valuable signals to the trader. We can say that these are the most accurate indicators for turbo options.
If you study the subject carefully, many recommend various indicators like moving averages or Bollinger Bands. But in fact, such indicators for the 60 second option are not really suitable. The fact is that trend algorithms always lag behind the price. And a decision has to be made quickly.
Finally, there are a lot of different indicators developed lately, especially for 60 second trading. Most of them are not freely available, they are sold. What can we say about these algorithms? First of all, they are based on the classical indicators or their formulas. Accordingly, there is nothing new or supernatural in such developments. This means that there is no sense in paying for them. In fact, any experienced trader can set up an indicator on their own as they consider necessary. To find best indicator for 60 second binary options strategy that will be really useful, you will have to spend a lot of time.
Advantages and disadvantages of 60 second turbo options
Let’s start with the pros.
They include fast transaction results. You don’t have to sit by the monitor for hours, waiting to see what happens in the end. A trade only lasts for 60 seconds.
Another advantage is the ability to open quite a large number of positions during the day. With a competent approach, this will allow you to earn significantly more than on binary options for 20-60 minutes.
As for the disadvantages, there are also several.
In particular, such contracts present increased risks, because trading is conducted on the one-minute chart, where there is the so-called market noise.
Binary options 60 Seconds are also dangerous for beginners as the lack of knowledge and experience increases the risk of taking losses. Some experts think that the 60 second turbo options for beginners is a roulette or a lottery.
Another negative side of these contracts is that the trader needs to concentrate a lot. Fatigue sets in much faster than working with standard contracts. Consequently, there’s more chance to make a mistake.
The attraction of trading turbo options is obvious, but you mustn’t forget about the high risks, so treat trading not as a game, but as serious work, because it’s your money. There are quite a few traders who work only with this type of trades, so with a responsible approach you can achieve results as well.
