Binary Trading — Making Money On Your Mobile
The high popularity of trading binary options among online investors stimulated the evolution and modernization of trading terminals for this type of trade. Today, most of the major brokerage service providers offer their customers applications for trading on mobile gadgets that turn a simple smartphone, a mere communication tool, into a tool for earning money. In this article we will provide several effective examples of trading options on a mobile app, based on classical forecasting strategies that help to achieve high financial results.
Let’s start with the mobile applications. Of course, most of those are not very effective since they don’t provide a full choice of technical services for effective market forecasting, and that is a fundamental factor for effective work in the binary market. However, there are several products that fully meet the needs of traders. To ensure stable profit, we recommend working on an application that is offered free of charge by a professional broker — Binomo.
This technical service for binary trading offers a sufficiently high-quality set of tools necessary for trading and expanded technical features that contribute to great results. Among the main advantages of the Binomo application are the following:
- Wide-format trading chart with functional settings (price display mode, time frame, scale)
- Indicator tools for analyzing trading quotes
- Option contracts with yield of up to 90%
- The choice of assets wide enough to make the trading most profitable (over 40 items)
- Statistical indicator
- The mode of displaying the registered position in the form of price levels — very convenient for evaluating the effectiveness of an option
- High level of stability of the app
- Minimum requirements to the starting investment capital (balance from 10 USD, minimum option price is 1 USD)
- Convenient and intelligible technical interface of the mobile platform
The potential player of the binary market gets the entire list of analysis and trading tools in order to obtain consistently high results. It should be noted that the application is available for both Android and iOS systems:
Let’s move on to practice, and consider a few simple strategies for working on a mobile phone that will allow you to obtain excellent trading results. The first example is a classic trend strategy based on the levels of resistance and support formed during price fluctuations. This method is simple, available to anyone and works effectively with any type of underlying asset. Also, it does not require additional technical tools. To register lucrative contracts under this strategy, you need to connect either the quotes highs or the lows (for a down or up trend, respectively) with the help of a visual line. This way you will identify the price level of the asset, from which the quotes chart will be forming cyclical turns:
For trading, we use a simple and apparent signal of the strategy in the form of a price rebound from the trend level. This method of trading on the Binomo mobile app allows you to receive more than 85% of contracts with positive results,ensuring stable growth of your trading capital.
The next example of a profitable trading strategy on a smartphone is a simple mono-indicator strategy based on the standard MA indicator. After installing the technical analysis tool, the investor must identify the price reversal signal to build a new trend movement, which is displayed as a breakdown of the indicator level in a certain direction:
Such an indicator format for assessing quotes allows to register contracts with over 87% of profitability.
As we have just shown, simple strategies that can be used on the Binomo operator’s mobile application allow you to use your gadget as an effective and efficient mean of making a profit. What’s even more exciting is that you can earn anywhere, as long as there’s Internet access, and at any convenient time!