ALT IDX from «Binomo» broker: making money on AltCoin
- VFX Blog
At the mention of cryptocurrencies, the majority of people think of Bitcoin as the most famous and expensive digital money. In this article, we will show how to make money on binary options using its “clones” or AltCoin.
Cryptocurrency exchanges work 24 hours / 7 days, before opening an option; we look at the percentage of profit offered by the broker. For any money management strategy, it should be at least 75-85%, otherwise, it will not be possible to compensate for losses free binary signals in an acceptable time frame. Unfortunately, most brokers offer a lower percentage. Or is it constantly changing over a wide range!
An alternative may be ALT IDX – synthetic (derivative) cryptocurrency asset from Binomo:
- Altcoins and all crypto-currencies available including weekends and holidays;
- The percentage of binary signals profit is stable at 83%, an option from 1 dollar. The following 2 profitable options are sufficient to cover the loss, which is not a problem even on short-term strategies;
- It is calculated as the average value of four currencies: Ethereum, Ripple, Litecoin и Monero. Thus, speculative impulses are “smoothed out" and more reliable forecasts can be made.
The principle of calculation is the same as stock indices (Dow Jones, S&P 500). If asset quotes rise on an uptrend index, fall on a downward trend.
Exact binary options strategy on standard indicators
Any in the range M1-M5. In our case, M1 is used, but with an increasing period of analysis, the accuracy of the signal an increasing.
Any currency pair. The main requirement is a fixed (2-3 points) spread and no hidden fees.
24 hours/7 day
Percentage premium option:
Not less than 80-90%.
The strategy uses three technical indicators:
- Simple (SMA) Moving Averages with period 12. Trend indicators by which we determine the opening point of the option. The strategy is not intended for trading during flat periods. We trade only if the range is between at least 15-25 points! A breakdown will become a binary signal of a new trend. This method is recommended only for experienced traders!
- RSI with a period of 5 and a standard level of 80/20. Trend indicators must necessarily be confirmed by at least one oscillator indicating an overbought when buyers can no longer move the price up, or oversold where there is almost no one in the market to sell at lower prices.
- Stochastic with standard parameters − the oscillator will assess the current balance between buyers and sellers: the predictor above level 80 − the end of the uptrend (overbought), below 20 − the end of the downward (oversold).
After installing the tools, the terminal's working window looks like this:
Binary options signals:
- CALL option. The price chart is above the Moving Average or breaks it from bottom-up, both oscillators are directed upwards.
- PUT option. Opposite conditions: the price is below Moving Average or breaks it from top to bottom, oscillators move down to the overbought zone.
You can open options to bounce prices from Moving Average and the vfxAlert signal. For beginners, this transaction is not recommended, it is better to wait for confirmation from two oscillators!
Open a deal on the next candle after binary signals. The expiration time of the options should be at least 5-7 minutes, even if a minute is selected as the working timeframe, as in our video.
Recommendations for use:
- Despite the small-capitalization compared to Bitcoin, altcoins are real trading assets that allow you to earn a lot and steadily;
- First of all, look at the movement of Bitcoin. Most altcoins are moving after it, even with a delay. The exception to Ethereum is the opposite trend, rollbacks and corrections. This is usually the case when publishing important events about the currency, speculative actions are short-term and almost do not occur.
Binomo has a reputation as a reliable broker and offers binary options trader some of the best conditions. Options are opened with minimal delays, there are no problems with the withdrawal of profits and each trader can receive additional income without the need to change the strategy and style of trading.