| Updated: October 30, 2024You will learn about the following concepts
- What are 60 seconds options and how to trade them
- Experience returns in one minute
- Short term strategy
- Examples
Introduction
The trading mechanism that stands behind the gambling is pretty simple – if you knew the result of a certain game you would naturally get really rich. Well, there is another way you can get rich and it is not through gambling. The answer to your question is binary options trading. Since we have introduced you to some of the well-known binary options types, it is now time to talk about the 60 seconds binary option.
Basically, 60 seconds binary options can be described as a short-term strategy, because the trader has to predict the movement of an asset within the next 1 minute. Since the price is able to move up and down really fast, the trader has to be really careful and needs to possess some really good trading techniques. This is why you’d better not start with the “60 seconds”, if you do not feel confident about your trading skills.
Short-term strategy
When it comes to 60 seconds options, there are two really important moments that you need to consider – choosing a binary options broker and what the charting software is. If you prefer to go for this type of trading, make sure the broker you have chosen offers it, and then, make sure that the software you are about to use supports charts and will allow you to be flexible and to use various tools.
Since everything happens quite rapidly here, all the time you have is 60 seconds, and you need to be really fast and learn how to use the charting software in order to make projections and determine the underlying trend. Generally, the event, wherein the prices are going up, is called an uptrend, and the event, wherein the prices are going down, is called a downtrend.
People who enjoy trades at high frequency use this type of trading, so if you make the right prediction, you will earn. As time is of the essence, it is highly recommended to use caution, when making a decision, because everything may change in a matter of seconds. Any hasty and emotional decision might lead you to financial ruin.