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Q: What are binary options?

A: Binary options are a type of financial tool that have only one of two outcomes: a profit or loss. Traders can speculate regarding the future price movements of various underlying assets and gain profits of up to 85% depending on the platform of choice.

Q: What do you mean by trading psychology?

Trading psychology is the ability of investors to manage their emotions while trading financial instruments of all types. Trading discipline involves setting time limits and knowing when to exit a trade. It also relates to how you choose to react to negative outcomes. Recognizing your strengths and weaknesses is also part of trading psychology and enables you to refine your skills over time.

Q: What option formats can be traded on most platforms?

A: It depends on your platform of choice, but most brokers offer Classic, Ladder, Rollover and Double Up formats.

Q: How can I select a trusted broker?

A: A trusted broker will have proper regulation from a certifying body. Other criteria to consider are ease of transactions and withdrawals, customer support and security standards.

Q: What kind of profits can I make by trading binary options?

A: Many platforms offer up to 85% profits, but it is important to verify payment structures prior to depositing personal capital.

Q: What do you mean by underlying assets?

A: Underlying assets consist of commodities, currencies, stocks and indices that can be traded through broker platforms.

Q: What are the best times to trade?

A: The most active trading hours occur during the London and US trading sessions. This is typically between 13:00 GMT and 16:00 GMT.

Q: What are economic calendars?

A: They are a schedule of global economic events such as interest rate decisions, non-farm payroll numbers, gross domestic product (GDP), Consumer Price Index (CPI) and Purchasing Manager’s Index PMI).

Q: What is technical analysis?

A: This type of analysis uses economic history and statistics. Charts are studied using technical gauges while observing patterns that arise such as those in candlestick diagrams.

Q: What is fundamental analysis?

A: This consists of influential global events, political, economical or otherwise that have an impact on the financial markets.

Q: What are the various charting tools that are available to me?

A: There is an abundance of charting tools, but the most mainstream types include line, bar and candlestick charts.