In standard form, trading the binary options is most simple process. Else, at least this should be. All you should do as if trader is just to guess the direction of market or in financial products. Specifically, if you really think that the price of the underlying some security will move to upside, then you have to trade call options. In other hand, if you think that this will fall, that time you will trade put options. Try to note that you can only but an options, the put for bearish set up and calling for bullish one.
When this thing is compare with the forex trading, the great difference is that the forex traders can buy or goes long way, and sell or goes short way. Still, they need to give some general direction. Moreover, when the thing comes to binary trading, the traders should set the expiration date. As how the binary trading is common, like that the online binary scam is also common these days. While using the online binary trading, you asked to be careful from the fraudulent over internet.
In fact, the binary options originally have two elements in it, which the traders have to decide upon, expiration date and striking price. Not only the traders have to indicate the direction, but they also have to indicate the point in time while the option will expire. Frankly said, the point in time when the comparison between the current price and striking price made. Based on outcome from this, this said that the option will expires in money or sometimes this is out of money. Even though, scam is popular in the binary options, still some pros come from simplicity of products. Moreover, with money management plans and in avoiding some short terms of expiration date, trading the binary options would be nice way to diversify portfolios. Since there are many pros in it, the cons overtake the pros. So, be aware of the cons when you are looking to invest in the online binary options.