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by Sid Bhattacharjee (Author)
This book is pragmatic and is not theoretical or conceptual. The book is intended for newcomers to learn to earn a daily income from financial market by trading a relatively new investment vehicle called Binary options. With binary options being available to retail traders through electronic trading platforms and a variety of brokerage firms offering a range of assets to trade, it has become easier than before to take advantage of this short term investment vehicle and make a decent daily income for a disciplined trader. The book provides a detailed insight into binary options as traded in financial markets with a view to improve upon the odds by using a range of tools and resources. This book introduces a reader to the financial market with a brief discussion on various types of markets and what instrument and assets are available for trade. This is followed by a detailed discussion on the tools of trade or the set of tools required by a trader for technical analysis and understand the market, learn to use those to predict the possible price movement of an asset. A complete chapter has been devoted to mental preparation as trading is in the mind and the best tool one can posses for being successful in any kind of trading. Because of the short term nature of investment, a trader will have to make relatively quick decision on a range of aspects of the asset being traded. As such, several setups have been discussed at lengths which are predicated on certain outcome. From how to configure the platforms for best possible results to taking trades, all discussed with charts and explanations. Alternative timeframes have also been discussed so as to make trading little more relaxed. Advanced concepts of trading are included covering progressive trading methods to improve the results. All these are followed by author's personal trading statement so that readers know what sort of results to expect from trading binary options. Finally, there is a four week action plan for a newcomer to get started, covering trading on trial platform, taking trade with paper money till confidence is gained to trade a real money account. While the book deals with the basics of financial market and provides complete details of a trading strategy for one of the many instruments available to trade in the financial market, it is intended to be a first step towards this fascinating world of financial market. Readers are encouraged to study the books referenced in the bibliography and learn about other instruments that's available to trade. This is in order for readers to build on the newly learnt skills and compliment this with more advanced knowledge to be able to explore other possible instruments that suits individual style of trading.
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