Binary options are the simplest way for the traders to earn profit from the market movement in value of an underlying asset. There is no need to actually purchase the asset; the traders can simply predict what will be the direction of price of an underlying stock over a given period of time.Here is a8 step guide for all those traders who have attended all live webinars and seminars but have not understood the basics of binary options trading because of complicated account opening and account verification process.

Trades to place- The first decision which traders need to make when they think of starting binary options trading is seceding the asset, commodity or stock exchange the traders should place chose.  Once they have decided that, the traders just need to decide which way they think the value of that trade will move.

Choose the best broker:For placing trades and earning a good amount of profit, traders have to select the best broker in the industry to place their trades with. They should go through each option which is available.

Choosing correct expiry time: It is very important for traders to select an expiry which will get them maximum results. There could be lot of events and market fluctuations which could affect the value of the asset. So they should select the expiry time of the very carefully.

Knowing Potential Gains: While placing the order, a trader must keep a check and analyze potential gain before placing any trade.

Placing trades instantly: Traders will never get to know in advance about the profitable trading opportunity they might get in running market so they should be always ready for placing the trades instantly.

Hedging Trades:traders will always look into the possibility of hedging any live and active trades so that can minimize their losses and increase chances of earning profits.

Roll Forward: This is a medium of extending the expiry time on any live trades the traders have placed. When they chose this option the expiry time of the asset is extended to the next available one.

Early Exit: If trades can see the value of their trades swing in opposite direction of their prediction, then they should consider taking an early exit. Many live webinars teach about this strategy.