How 30 Second Trading Can Benefit a Busy Schedule
Are you a full-time employee working during the day and trying to somehow squeeze in a secondary career as a binary options trader around your work hours? Learn to balance your trading life here. If so, you are very much in the same position as most other traders. Very few people are able to immediately start trading binary options for a living, both because it is not that easy to learn to trade profitably, and because most people do not have the money it takes to fund a life and a trading account without a full-time job.
If you have a full-time job, it can keep you in the business of trading, but it can seem to take you away from the business of profiting when you are struggling just to find time to trade. You may be trying to trade during your lunch break, on your commute, after work while you are eating dinner, or even overnight while you are trying to get a little sleep.
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Pros and Cons of Long Term Trades
There are a couple of different approaches which are common when it comes to dealing with a tight schedule. One is to trade much longer-term trades, and the other is to trade very fast binary options. The longer-term trade solution sadly does not apply all that well to the world of binary options, and is more applicable to Forex and other types of trading. Why? Because the binary options market is aimed largely at short-term traders to begin with. Not that many brokers offer longer-term trades. You may find a few that allow you to remain in a trade longer than a day, but certainly not a majority.
The benefit of that strategy for managing your time is that you only need to check the charts about once a day for trade opportunities. This means you will spend a lot less time in front of your computer when you are not in a trade. The drawback is that depending on your system and how closely you need to monitor trades once you are in them, you may have a challenging time checking regularly on your trades. What if you need to pull out of a trade early, or rollover? You might miss your chance because you are talking to a customer at your day job or sitting through a meeting, and that could cost you money.
Again though, the main drawback with long-term trades and busy schedules is simply this: Very few binary options brokers have “long-term” trades available. But most offer fast binary options, so now I will tell you how 60- and 30-second options can help you solve your scheduling problems and balance your trading with your work.
Fast Binary Options
60-second trades were only offered by a few brokers in the beginning, but now they are one of the most common types of binary options trades available. These trades start and end in one minute, just as their name implies. One newer type of trade which will be offered by GOptions is the 30-second trade. This is just like a 60-second trade in how it works, but of course instead of ending in one minute, it unfolds in just half a minute!
When you trade 30-second options, you can also limit the amount of time you spend sitting in front of your computer looking for trades—or monitoring the ones you are in. If you are trading longer-term options, you really only are going to find a few opportunities to trade. But with 30-second options, opportunities will abound, so each day you have a good chance to find one or more excellent trades if you sit down for just a few hours to look at your charts. In fact, you may only end up doing this several days a week if you are really good at it, which frees up the rest of your time.
Since you get in and out of your trades in just half a minute, you no longer have to worry about monitoring ongoing trades throughout the day and night. That means no more surreptitious checks of your mobile phone at work, and no more need to wake up in the dead of night because your trading platform is alerting you that you might want to consider an early exit to a trade. You can instead focus on work while you are at work, focus on trading while you are trading, and sleep when you are in bed.
Learn How to Trade 30 Second Binary Options
Before you start trading 30-second binary options or any other type, you need to go in armed with a plan for success. A good trading plan will keep you focused, which becomes incredibly important with fast binary options, because it is easy to lose your head in the heat of the moment. There is a lot of pressure and excitement when you know you could gain or lose it all in just half a minute! Use this strategy to ease from long-term trades to 30-second trades.
With any good trading plan, you will need the following at a minimum:
A method. This could be based on technical analysis, price action, or fundamental analysis. In fact, 30-second trades are perfect for trading the news. The price movements caused by news events often last only a very short time before the market self-corrects, and a quick expiry time lets you get in on the action and out in time to keep your profits. The rules of your method will determine when and how you enter and exit trades.
A money management plan. No trading plan is complete without this aspect which governs how you invest your bankroll. I recommend that you only invest about 3% of your account on any trade, and that you use a consistent amount each time. 30-second trades are great for traders with small accounts for this reason, since the minimum investment amount is typically lower than it is for other types of trades.
A schedule. Come up with a schedule that lets you make the most of your time and energy, without overwhelming you.
Rules on what you will trade, including types of trades and assets.
Discipline and a sound trader psychology. New traders may think that trading psychology is fluff, but it is just as important as learning the technical skills involved in turning a profit. Without discipline, you will achieve nothing, no matter how smart you are on a technical level. Discipline is what lets you apply what you have learned for success!
Demo test after you come up with a trading plan, and ensure that you are profitable on paper before you invest real money in 30-second options. Once you have achieved a good balance of trading with your real time job and other obligations and start profiting regularly, you will be on your way toward a full time trading career. Hang onto your full-time job until you are making enough money that you can pay all your expenses without a problem each month and continue building up your trading account.