AurumTech
Step 2: Choose an expiration time limit of your option. This step comprises of deciding how long you want your option to remain open. However, this also depends on type of asset that you have chosen. This time limit may range from a minute to an hour. A time limit of a week or a month is very rare.
Step 3: Bet on speculation & determine the trend in which the asset will move. It is the key objective of a trader to predict the trend for a particular stock, commodity or currency that whether it will go above or below the preset strike price within the decided expiry limit. The term "Call" is used when a prediction of higher strike price is made & the term "Put" is used when a prediction of lower strike price is made for a particular asset.
If the spot price is achieved correctly, the binary option settles in the money & the trader is paid about 70 % or more profit, depending upon the broker used. Nevertheless, if the spot price is not achieved correctly, the trader loses what he has invested only; and hence out of money settlement is made. In some cases, the trader is paid a certain amount of his money, if he is unsuccessful in his bet.
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