Binary trading is done by making estimates about the position of the value of shares at a certain time on a particular day. This type of trading is also called prediction trading and offers an easier way to make money. There are several strategies, which can be used in binary options trading to get the most out of it.
Some of these strategies include Straddle, Reversal, Hedge, and 60-second strategies among many other strategies. You can have a look at optiontiger.com/ to know the latest binary options strategies in detail.
The straddle is one of the most efficient and reliable approaches to trading binary options. This strategy requires the use of put options and call options. Remember, a trader uses call options when he thinks that the value of a stock will rise above a certain value. Instead, he uses the put option if he thinks that the value of the stock will fall below a certain value.
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In this binary options strategy, traders place call options on values, which according to him are as low as possible. Similarly, he places the put option on a value that he thinks is as high as possible.
In this way, the two options are trapped between two extreme values and the probability of loss is lowered to the minimum level. Most binary traders use this strategy because this is one of the safest.