Binary Options News and Media: Important Tools for Today’s Traders

Binary option trading has been described as a gambling activity in many quarters. But this is not really true. Trading with certainty is possible, and one of the methods to achieve certainty in trading is by using the binary options news. It is possible to use the news to trade binary options and to get accurate information to enable you post profitable trades. This article will attempt to answer some questions that many users may have about binary options news and media for sourcing such news.

 

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Importance of Binary Options News

Binary options news refer to those economic and political events which are capable of affecting the direction of the assets that are traded in the binary options market. The binary options market is unique in the sense that it allows for the trading of several assets in the market place. These assets belong to several different classes. Therefore, it would require an assortment of various news items to be able to gather information on the fundamental influences that affect the various assets listed in the binary options market.

What kind of news is referred to here?

  • A political event that shook financial markets was the June 2016 Brexit vote. The effects are still being felt in UK-based binary options assets such as the British Pound.
  • An example of an economic event is the US Core Retail Sales report. This event has implications for US and Japanese assets such as the USDJPY currency pair.

The news is what moves the markets. However, many binary options platforms do not provide appropriate news that would enable accurate news trading of binary options assets. It is therefore necessary to acquire more news sources to complement what the brokerages offer in order to accurately trade binary options assets.

For instance, a trader may want to trade stocks based on earnings reports. But details of earning reports may not be available on the news feeds, or the news feeds may not be specific enough with details of earnings of companies the trader may want to trade. There has to be a source to obtain the full details of the binary options news on earnings to enable accurate trading of the affected stock assets.

Sources of Binary Options News

Here are some sources for obtaining accurate binary options news.

  • Forex Platforms

Many retail forex platforms such as the MT4, have the capacity to deliver accurate news feeds and do provide up to the minute binary options news. News items such as earnings reports are delivered in detail, and usually at the very moment that the conference calls are done. This allows binary options traders to take the information and implement it directly on the trading platforms. Traders whose binary options brokers offer trading on the MT4 actually have an advantage in the sense that whatever binary options news they get can immediately be applied to binary options trading.

The advantage of using these news feeds as the source of binary options news is that the news service usually comes at no cost. Once traders have access to the platforms, they automatically get access to the news. On the MT4, the incoming news can be set to have sound alerts so that traders can hear these alerts and get the information they need as it comes in. Typically, the news comes in with a slight delay, but for binary options traders, this is usually enough to enable them take the decisions they need to take on asset direction.

  • Independent News Sites

When talking of independent news sites, the two sources that readily come to mind are those of Bloomberg and Thomson Reuters. Bloomberg actually has an online TV service and a few brokers incorporate this plug-in into their trading platforms. So while traders are watching the market for opportunities, the online TV service is dishing out the latest financial news.

The advantage of using these independent news sites is that they provide a very robust news provisions structure. Provision of news is their core business, so these news media sites provide the entire infrastructure that delivers the news at speeds that are much faster than can be achieved on regular forex platform news feeds.

A distinct disadvantage of using independent news sites is the cost. These services are very expensive. Therefore, they can ideally be used only by traders with high net-worth, or traders with large VIP-level accounts. But there is a way around this. It is also possible for several traders to come together as a group and collectively contribute funds to subscribe to these services, which the group can now collectively benefit from.

  • Social Media

Social media are becoming an increasingly important source of binary options news. However, the lack of social media regulation can make it difficult to identify the real news from fake news. This can be avoided if the user subscribes to news feeds from reputable organizations and individuals working within the financial market space. For instance, the recent news of the impending listing of Bitcoin futures on the Chicago Board of Options Exchange (CBOE), working in partnership with a digital exchange owned by the Winklevoss twins, was first broken on Twitter by industry experts. Such news, which is capable of impacting Bitcoin prices in the near term, is an example of how a potentially market-moving event was picked from social media before it got to mainstream news services.

The advantage of using social media is that it is free, and can be an instant source of breaking binary options news. However, the trader is still required to get the details of such news from other mainstream financial sites.

Other equally important media through which binary options news can be accessed include the economic news calendar. Some sites have more advanced versions that can be used for trading purposes.

Utilizing Binary Options News and Media for Trading Purposes

As part of lessons that those who want to trade binary options have to learn, it is imperative that a study of how to interpret the news correctly and apply it to the binary options assets is carried out. This is best done using a demo platform initially, and then a small deposit binary options account. Practice is the only way to achieve perfection.

The trader needs to know how to implement the news on the platform’s assets, and understand what trade types will respond best to certain kinds of news. It is pertinent to point out that market news with high impact, which usually lead majority of traders on a platform in one direction, will cause excessive risk for the broker and may lead to freezing of certain assets from trading for a period.

Traders have to understand how to bypass these restrictions. One way is to trade correlated assets. For instance, copper has a correlation to the Chinese Yuan and the Aussie Dollar. Australia supplies China with most of the copper it needs. So industrial and manufacturing data from China, will have an impact on copper prices as well as the value of the Australian Dollar. So if one of these assets is frozen for trading, it is still possible for the trader to trade the correlated asset using the binary options news.

Conclusion

Binary options news and the media through which these news can be obtained are key tools that can be used by binary options traders. The news moves the markets and is usually superior to any form of technical analysis. Technical analysis has to follow the direction of the news. The trader simply has to ensure that the news is accurate and is actually trade-worthy. Practice is the only way to master how to trade binary options with the news.