Making money with binary options has never been easier. We tell you how new and advanced traders can earn a fortune with CherryTrade in our CherryTrade guide!
The complete CherryTrade guide
Here are the two most important things you need to know when you work with CherryTrade.
New traders should start with iFollow options
iFollow options are a blessing for any new binary options trader. Instead of spending years and a lot of money to learn the basics of binary options trading, iFollow options allow you to learn binary options quickly, for free, and make money while you learn.
How do iFollow options accomplish this incredible feat? They allow you to copy the trades of professional traders. You can sit back and watch while a professional trader makes you money. Not only will this approach improve your account balance, it will also give you a first row seat watching professional traders at work. You can see when they invest and why.
Over time, watching a professional trader will teach you a lot about binary options – more than you could learn from simply trading on your own. When you keep reading sites such as this one, you will quickly understand the technical background of the professional trader’s decisions. After a while, you will become a first class binary option trader yourself.
Experienced traders should trade ladder options
Ladder options are the swiss army knife of binary options. With ladder options, you can trade any market environment and create higher returns than with any other binary option type.
Ladder options work in a simple way: You have to predict whether the market will trade over or under a certain price level when the ladder option expires. Instead of forcing you to use the current market price as the measuring point for your option – the way high / low options do – ladder options allow you to choose one of five price levels.
These price levels are stacked in 5 steps. The closest price level is near to the current market price, the furthest price level is far away from the current market price – further than the target price of a one touch option. You can predict whether the market will close above or below any of these five price levels, thereby creating a wealth of options and tactical possibilities.
You need some experience to judge which price level will combine the best odds of winning a trade and getting a high payout, which is why ladder options are the ideal trading tool for experienced traders who know how to read the market.