CherryTrade’s pair options offer you a great tool to trade new market environments and make more money. Learn how to use the CherryTrade pair options now!
How to trade CherryTrade pair options
Trading the market with regular binary option types such as high / low option sometimes creates tough investment decisions: If there is little movement or much indecision in the market, predicting whether the market will rise or fall might be tough for an asset.
As a binary option trader, there is little you can do in such a situation:
- Trading in an uncertain environment would cause your winning percentage to drop, thereby losing you money.
- Stopping to trade would also stop you from making money, thereby reducing your profits.
To solve this dilemma, you need a new binary option type that allows you to keep trading successfully, even in a market environment that is not perfect for regular binary option types.
With pair options, CherryTrade offers exactly this kind of tool. Pair options do not only use one asset, they compare two assets with each other. You have to predict which asset will outperform the other until the option expires.
This type of binary option allows you to trade markets that are unsuited for regular high / low and one touch options. For example, if you do not know whether gold and silver will rise or fall, but you know that gold will outperform silver (either raise more or fall less), then you can trade this knowledge with pair options. You could trade neither asset on its own, but in combination, both assets give you a good investment opportunity.
To invest in a pair option with CherryTrade, access CherryTrade’s trading platform and click on the “pairs” button. You can now select your asset from the drop down menu at the top left. To make investing easy, CherryTrade displays a large “Which will perform better?” line and the two assets involved right next to the investment buttons.
You can also see a price chart. This price chart displays the price of both assets in relation to each other. If the price of this relation is going up, the first asset in the pair is currently outperforming the second asset. Vice versa, if the price of this relation is going down, the second asset in the pair is currently outperforming the first asset.
To complete your investment, select your expiry time from the drop down menu at the top, type in the desired amount you wish to invest, and click on the asset you think will outperform the other.