All You Need to Know on Trading 60 Second Binary Options

Binary options traders will be aware that as well as classic High/Low binary options most brokers of this fun, simple and controlled way to trade the financial markets, most brokers have introduced a number of additional alternatives. One of the most popular of these alternatives on binary options trading is 60 Second Options.

Taking short-term trading to a whole new level, 60 Second Options works in the same way as classic High/Low options but with traders taking a position on a micro timespan of just one minute. While often represented as an alternative ‘type’ of option, 60 Second Options are really simply an alternative trading timeframe. Nonetheless, this in itself makes trading 60 Second Options a very different proposition to classic High/Low Options.

Super short trading positions are traditionally referred to as ‘scalping’ and it has long been a popular approach to trading by professionals. Scalping proponents like the fact that opening large numbers of quick trades helps spread risk efficiently, which is a key component to any successful trading strategy.

Like any trading timeframe there are traders who won’t trade any other way than very short time frames and others who will find it easier to finish consistently in the money using longer time frames. Every kind of trading timeframe has its pros and cons and it’s really about finding what works best for your trading style, knowledge, skill set and psychology. For those keen to give this rapid investing style a whirl, we’ll take a look here at the pros, cons and considerations unique to 60 Second Options.

 

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60 Second Binary Options Pros

Spreads Risk: the first advantage to 60 second trades is that binary options traders can take a far greater number of positions over a few-hours session. This spreads risk far more thinly and as long as the trader has the skill to generally come out ahead the greater the number the trades they make the lower the possibility that anomalies in market movements will negatively impact on any given session’s profitability.

Breeds Consistency: more of a natural extension to the previous pro than stand-alone but being able to spread risk thinly during every trading session can have a huge impact in assisting consistency in trading profits from session to session.

Quick Capital Growth: successfully trading very short timeframes allows a trader to very quickly compound their account’s trading capital.

Short Trading Sessions: being able to take large numbers of positions over a short period of time means that a trader can spread risk efficiently over a much shorter trading session. Pro 60 Second traders would only be expected to trade a few hours per day which not only saves time but allows them to remain fresh and alert throughout the entire session.

Trades Not Left Open: short trading position timeframes reduce the risk of unexpected influences that can change the underlying conditions a trade has been based on. The longer a trading position is open the greater the likelihood for an event to take place or news to break that leads to a turnaround in a market’s direction.

Less Specialised Knowledge Necessary: super short-term trading timeframes mean traders need to know less about the market being traded. Correctly calling direction over a short-time frame is purely about technical analysis and calling momentum. There’s no need for background knowledge on the instrument, its historical behavior patterns, the wider market and the many other influences that impact price direction over longer periods. The benefit of this is that traders can trade almost any instrument available at any given moment rather than being restricted to those they have greater expertise in. As a result, they will have a wider degree of choice when looking for the right trade opportunities.

Less Starting Capital Required: because 60 Second Options trading means opening numerous small, quick positions one after the other, smaller initial capital is required. If the trader has a successful strategy and the knowledge and skills to execute it correctly, they can quickly build the account in a short space of time. Smaller positions are also generally taken when the trader is opening lots of short term trades and brokers also often offer lower minimum trade values on 60 Second Options compared to other binary options formats.

Scalping Cons

Specialist Technical Analysis Skills: super short-term trading means being able to do technical analysis on a busy short-term chat as well as adapt analysis to very short-term patterns. The underlying logic that applies to any technical analysis is essentially the same whether the trader looks at a 60 second or 1-day chart but spotting the same patterns in a far more concentrated timeframe is a more specialised skill.

Quick Decision Making: 60 Second Options mean a trader must spot a pattern and decide almost instantaneously to take a position. There is not time to reassess original analysis and confirm a supposition to oneself. Not every trader is comfortable in or able to take such rapid decisions.

Concentration Requirement: the ultra short-term nature of 60 Second Options intensifies the requirement for a high level of concentration. The trader must do the same thing over and over again in a short space of time, which requires a level of concentration not everyone has.

Incremental Gains: a successful 60 Second trading strategy necessitates that traders accept they will never take big profits from any single position. Psychologically it can be difficult to limit returns to those achievable in a minute when the trader subsequently sees the direction continuing. It is of course possible to place an additional trade on the same instrument moving in the same direction but each individual position taken will only result in a very small profit or loss if risk is spread appropriately.

Exhausting: while 60 Second Options trading sessions would be expected to be relatively short, up to a few hours at any one time, they are intense. To make the number of trades required for a balanced trading strategy the trader will have to be constantly focused, which even for 2-3 hours is tiring.

Conclusion

60 Second Options trading is often mistaken for a trading style that is purely down to pot luck with many critics suggesting it is not possible to analytically predict market movement over such a short timeframe. However, the reality is actually quite the opposite. The shorter the timeframe the lower the lower the chance of unpredictable variables interfering with good technical analysis. The ability to be able to make many trades over a short period of time also spreads risk which reduces the element of luck, giving the trader more control.

However, as we’ve outlined, 60 Second Options trading is a specialist approach and traders should educate themselves properly in the specific skills it requires and probably practice on a demo account first. There are plenty of good resources available on how to read shorter term charts and traders would do well to take the time to prepare themselves properly to increase their chances of success.