Binary Options Trading is often attractive to beginners because it’s said that one can make lots of money from this type of trade. But the every first question any newbie would ask is whether it is really a money making platform. Yes of course you can make money with it. The only thing a trader needs is a single hot strike. Making money with binary options is not a rocket science but many beginners consider themselves smarter and better than any other trade and that is what really hits them. You cannot just simply start making money out of the blues; you have to learn if you want to win. This will take a lot of hard work, dedication and commitment. Simply beginning with reading articles is not enough. You have to learn from your losses, your wins and your experience. Even if it has been years since a trader is making money with binary options, he will even say that the process of learning just does not stop. There is no such trade from which a trader cannot learn anything.

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How to make money with binary options?

To make money, a trader will first have to approach a broker. But if the trader comes unprepared, then the brokers are going to feast on him. Prior knowledge of the market is necessary and it’s important to be aware of what binary options trading is all about. Also, some traders try to take away big positions from a single trade and end up with losing huge money. Winning on small trades can be easy but large trades are not that easy and they are hardly predictable.

Steps to Make Money with Binary Options

List of steps involved in making money with binary options trading are explained below:

Step 1: Know What’s Binary Options Trading

The first step is to know what exactly Binary Options Trading is. Some traders have quite vague idea about binary options and they are not aware of the risks involved. Buying a fixed asset and trading in binary options are two totally different things.

Step 2: Choosing the Binary Options Broker

Once you are familiar with the risks involved in trading and you have chosen the asset you wish to trade in, the next thing you have to look for is some reliable binary options broker. Some of the common brokers that are providing legitimate and trusted platforms for binary options trading include  24option and StockPair.

Step 3: Compare the Brokers Before the Live Trade

This is the part where the real deal starts. You have to deposit the minimum amount for trading to sign up with the broker and get started with live trading. You will receive welcome bonuses and other special offers. But before signing up, check out the minimum deposits, bonuses offers, payout ratios and returns of each broker and compare each one. Later, choose the one that’s best.

Step 4: Have Your Nose for the Trading Market News

Once you start the trading, you have to keep yourself updated with the stories in the market. All the ups and downs and high and lows of the market should be in your knowledge. These financial stories can help you in making good decisions in binary options as you trade.

Step 5: Go for Short Term Investment Only

If you really wish to make money out of binary options trading, the best option is to choose short term investments. The deals which last for minutes or hours have more earning potential than the ones that last for years. Short term investment is less risky and the chances for earning returns from short term investment are high too.

Step 6: Learn from your Mistakes

Not all trades are going to make you earn profits. Loss will be a part of the trade too but that does not matter. What matters is how much you learn from your mistake. With these mistakes, you will get to become a well-informed binary options trader.

Step 7:  Do Experience Real Life Trading with a Demo Account

Most of the online brokers let you open up a demo account before starting the real life trading. This is a great way to test how trading is actually done. Even if you go wrong somewhere, there won’t be any heart feelings because no real money will be involved. Once you get a good grip of different aspects of trading, you can start with real money trading.

 Is it easy to Make Money with Binary Options?

Now that you are aware of the steps to get started with making money through binary options trading, the next important thing to consider is whether it’s easy to make money with binary options or not. This is a question which needs to be addressed in the time when more and more traders are getting attractive towards binary options. Honestly, it is quite easier than any other type of trade.  Even if a trader has no experience of the trading market at all, he can still have plenty of chances to make money. The binary options platforms come with lots of trading tools and features that can facilitate a newbie to make the best trading decisions and earn profits.

Here is another truth; it is only going to be easy to make money if you know what you are doing. Without prior market knowledge and trading exposure, no trader can make money with trading.  A trader has to have a definite thesis to what he is doing and why is he doing. Never take trading rationally. Even if a trader is using the best trading platform, he has to be aware of the market conditions and the latest financial news to make the best trade decisions.

Never emotionally get involved in any type of trade. Winning or losing, both are going to help you. Just avoid the two big sized trades and make decisions wisely. Don’t go into trading without getting yourself well educated about binary options trading. Otherwise, making money will not be a big deal.