Binary Options Hacks

The internet is awash with so-called binary options hacks offering a painless solution for trading challenges, but most investors would be rightfully sceptical of claims that there is a quick fix to win all trades. While there is no “cheat code” guaranteeing binary options riches, the good news is that there are some relatively quick and easy-to-learn methods and tools that will hone your binary options trading skills and potentially boost your profit potential and win rate.

This guide will give a rundown of some of the top binary options hacks in 2024, touching on different types of binaries and some of the simple tricks and strategies you can use to profit from them.

Beginner Binary Options Hacks

These are among the most elementary ways to improve your binary options game, and even beginners can benefit from them.

Copy Trading

If done right, this could be the easiest way to earn money from binary options as it delegates the planning and decision-making to a more experienced trader.

Many binary options brokers are compatible with platforms that support copy trading, in which traders adopt a hands-off approach to their trades and replicate moves made by other investors.

Binary options copy trading is usually achieved through software that allows the user to browse expert traders and choose one to emulate, though the top platforms explain how it works before signing up.

Bear in mind that you may have less capital available than the experts, so ensure that you set a limit to the amount placed per trade.

Doubling Up

The method for “doubling up” a winning binary options position and earning twice the profit is dead simple and suitable for beginner traders. Brokers which offer this binary options hack will provide a button on the interface where trades are placed. Investors can click the double-up button display while they have a binary options contract open to double the stake and the potential profit from a trade.

Importantly, the binary options double-up strategy is only available during a specific window, and brokers will not allow you to use this function when the contract is very close to expiry. Thus, doubling up increases the risk from a trade as you could lose double your original stake. However, if your position is looking very secure, this is a quick and easy way to double the profit from it, making it one of our top binary options hacks.

Intermediate Binary Options Hacks

These binary options investing tricks require a little more knowledge to get the most out of, but they are still accessible for relatively new investors.

Binary Options Bots

Sometimes known as binary options robots, these binary options hacks allow investors to automate a strategy they are comfortable with and confident in. Binary options bots are available ready-made, or you can build your own and programme it to your own specifications and data. There are also paid and free binary options bots available to download.

Traders can use bots to carry out binary options trades while they are otherwise occupied, allowing them to profit from markets while they go about their daily lives. The bots are also helpful at removing the element of human emotion and its sometimes-messy consequences from binary options trading.

However, the bots will need to be monitored carefully and adjusted to account for new developments or for fine-tuning. Additionally, it may be necessary to take them offline altogether if a major event causes waves on the cryptocurrency market, for example. They are therefore recommended only for traders with some experience who can anticipate ripples and adjust their bot and strategy accordingly.

Rolling Forward

The double-up button gives investors a simple way to capitalise on a winning trade, but what about a trade that isn’t quite in the money with expiry creeping up? Some binary options brokers allow investors to pay money to “roll forward” an expiry time, a feature that if correctly used can allow investors to rescue a position from ruin.

This is obviously a risky manoeuvre, since if the rolled-over trade goes the wrong way, you will have thrown good money after bad. However, if a trader has enough experience to use it sparingly and in the right place, rolling forward can be a binary options hack that improves their overall win rate and raises their net profits.

Binary Options Signals

Some online brokers and other companies offer binary options signals, which send updates on important market events or conditions either through a mobile app or directly to your email address or messaging programme. There are both free and paid signal services, with some sending automated messages about market events and others offering specific tips from pro traders.

A paid forex service, for example, is not going to guarantee profits, but at the same time, it is wise to be wary of free services advertised on Telegram or Github that are likely to seek profit from binary options investors in other ways.

Signals can count as a binary options hack if used right, as they can cut down investors’ screen-time by informing them of the optimal time to place a trade according to their prerequisites. The important thing is choosing the right signal service – some of the free services aren’t worth using – and you need to know how to set it up so you receive signals which are relevant to the asset and market you trade, whether that’s forex or stocks.

Advanced Binary Options Hacks

These tricks require more knowledge and expertise than most binary options hacks, so they should be used by traders who are already confident and experienced.

End-Of-Day Trading

While not exactly a binary options hack, trading near the close of the market can provide such a boost to canny traders that it may act as such. An end-of-day binary options strategy allows investors to take advantage of the heightened volatility that usually occurs at these times. Using the right signalling methods, investors can spot gaps in the market and exploit them in lucrative binary options trades.

Arbitrage

Binary options arbitrage is a strategy that allows investors to profit from price discrepancies in different markets, and if implemented correctly it can be a “hack” that allows traders to make low-risk profits from binary options trades.

In binary options arbitrage, traders will need to have accounts with more than one broker and to be able to spot discrepancies in the prices and payouts of an asset traded by both. If there is a market inefficiency and the gap between the two values is sufficiently wide, you can open simultaneous put and call trades and profit regardless of which way the price moves.

The kind of inefficiencies that can be exploited with arbitrage are rare, so it requires an experienced binary options trader to find them and set up a trade that yields a profit.

Martingale Strategy

This old gambling strategy is risky, but some traders use it effectively as a way to recoup their losses and maximise profits while investing in binary options.

The binary options Martingale strategy works by doubling your stake in the next trade after you lose. If your £10 binary options contract with an 80% payoff contract loses, and you lose your £10 stake, you would open a £20 contract on the subsequent trade. Winning this trade would net you a £16 return on top of the stake, cancelling out the £10 loss in the previous trade and leaving you with a net £6 profit.

In binary options, the Martingale system works on a double basis – the first being that since binary options have a simple win/lose outcome, the law of averages means your losing streak will eventually end, and when it does the raised stakes will cancel out your losses. The second significant factor in using the Martingale system is that binary options investors should already be using signalling and analysis to improve their chances of winning trades.

This means that the Martingale system in the right hands can be an effective tool, but beginners should treat it with caution. Doubling the stakes with each losing trade is a good way to rack up losses, and without effective wallet management and a cool head, you could find yourself quickly wiped out.

It’s also worth noting that the maths doesn’t always add up if you only double your trades. Depending on the payouts offered, you may need to more than double your stake on the subsequent trade.

More Binary Options Tips & Tricks

While not all would consider these binary options hacks, there are several other things that can help a binary options trader:

Trade Safely

Always keep an eye out for binary options scams. Avoid any binary options brokers that are blacklisted and make sure they have a good reputation online or a regulated – but also be vigilant for secondary companies that may offer to assist you in your binary options journey.

Some supposedly free signalling services or bots and indicators may railroad you to a certain suboptimal or dishonest broker, and binary options courses that purport to teach “hacks” that ensure 95% accurate results or a 90%–100% win rate may be both dishonest and have a hidden catch. Remember there is no “killer accuracy strategy” when it comes to binary options, so be careful of any company that claims they can sell you the secrets and winning signals.

Practice

While many people are on the lookout for shortcuts to success, in the long run, it is always hard work, patience and research that pays off. Traders should seek out brokers which offer binary options demo accounts to practice paper trading before they risk real money, and this will also let them safely implement all the binary options hacks on this page to see how they fit in with their investing style.

Note, the top binary brokers also offer demo accounts available to download on Android and iOS (iPhone) mobile apps.

Keep Records

As well as being very handy for tax purposes, keeping track of your history of winning and losing trades in a journal or excel spreadsheet will help you analyse what is working and judge whether these binary options hacks are a good fit in your system.

It is also a good idea to track how many binary options trades you are making per day and to understand when it’s a good time to stop trading as your concentration wanes.

Study

An awful lot can be learned by binary options beginners simply by practising and getting used to different markets and platforms, but at some point, everyone will need to look elsewhere to polish their game.

Nowadays it is not just books that provide the right kind of insights and binary options hacks – traders can learn a lot from educational content on YouTube; from free download websites and questions on Reddit and Quora; on self-testing apps like Quizlet; and even on social media sites like Twitter or chat rooms like Discord.

Practice Money Management

An important part of risk management involves binary options money management, to ensure that you do not risk too much of your total capital on a single trade and you regularly take profits. You may find a limited money management calculator online, or you might be able to keep track of your wallet using your trade journal, but careful attention to your wallet is as important as any binary options hack.

Learn Technical Analysis

Technical analysis is not a binary options hack so to speak, it’s the bedrock of most successful binary options traders’ strategies. As such, it is highly recommended for investors to make the effort and pick up at least the basics.

Traders can hit the strategy books, pdfs, videos or online guides to learn how to analyse lines and other charts and gain an understanding of important factors such as trading volume. They can then move on to learning specific binary options strategies or indicators, such as the Heiken Ashi strategy; ZigZag strategy, Keltner channels; Japanese candlesticks and more.

Focus On Contract Lengths

New binary options investors should make the effort to try out several different binary options contract lengths and focus on learning hacks and strategy tricks that work on the contract times that suit them best, whether that is a 30-seconds, 60-seconds/1-minute, 5-minute, 1-hour, 4-hour or a longer binary options expiry strategy or indicator.

Bottom Line On Binary Options Hacks

There is no silver bullet when it comes to binary options, but some simple tricks and techniques can give traders an edge. Novice investors may benefit from copy-trading experts or by doubling up when they’re sure they have a winning trade, while more experienced traders may want to take advantage of technical analysis and the latest technology to boost their winnings.

While these binary options hacks are useful for sharpening your trading abilities, remember that consistent success is hard-won, so you should also put the hours and effort into educating yourself and keeping track of your trades.

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