Forex is closed? We trade cryptocurrencies on weekends.
- VFX Blog
Weekends or holidays? Everyone is resting and stock traders too, because the currency and stock markets are closed. Well, let them rest, we know but how to make money on binary options on cryptocurrencies.
The main problem of cryptocurrency binary options trading signals is a low percentage of profit from the transaction. 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. Or is it constantly changing over a wide range!
An alternative may be Crypto IDX – synthetic (derivative) cryptocurrency asset from Binomo:
- Like other digital money is available without days off and holidays;
- The percentage of auto 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: Bitcoin, Ethereum, Litecion and ZCash. 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 CALL-option on an uptrend index, PUT-option on a downward trend.
The strategy uses one standard indicator and two types of cryptocurrency signals from the vfxAlert service.
- Bollinger Bands (BB) − the horizontal direction of the BB lines confirms the presence of a flat, the breakdown of the lines will be the binary signal of its end. If the range is wide enough, you can open options to roll back from the borders. This method is recommended only for experienced traders!
The «narrower» the Bollinger Bands price channel, the higher the likelihood of strong movement after flat completion. The opposite situation is necessary for trading on the edge of borders: the corridor must be at least 30-40 points, otherwise, the options will be unprofitable, even if free binary signals show the right direction;
- Trending and reversal signals of vfxAlert. They work on classic trend indicators with supporting statistics. Therefore, no additional tools are required on the chart and we look at the reversal or continuation of the trend only along the "price corridor" of Bollinger.
After installing the tools, the terminal's working window looks like this:
Binary options signals:
Once again, we remind you that options are opened when the current trend ends with a confirmed price reversal.
- CALL option. Most vfxAlert signals show a reversal and the beginning of the uptrend. Bollinger goes up from the bottom border or centerline. The second option is only for professional traders!
- PUT option. Opposite conditions - most vfxAlert signals show a reversal and the beginning of a downtrend. Bollinger goes down from the bottom border or centerline.
Another condition is patience. You can try to enter the first candle of a different colour, but it is better to wait for the full 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.
Let’s summarize: despite the small-capitalization compared to currency pairs and stock assets, cryptocurrencies are a real trading tool that gives a good and stable profit.
- Bitcoin will be the basis of any top binary options signal. Other currencies follow, albeit with a delay. The Ethereum exception - there are opposite 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 trusted broker and has been offering Crypto IDX for several years now. Binary 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.