Technical Analysis Training For Binary Options

Welcome to the largest expert guide to binary options and binary trading online. has educated traders globally since 2011 and all our articles are written by professionals who brand a living in the finance industry and online trading.

We accept close to a thousand articles and reviews to guide you to be a more profitable trader in 2022 no matter what your current experience level is.

If you wish to discuss trading or brokers with other traders, we also take the world’south largest forum with over 20 000 members and lots of daily activity. Read on to get started trading today!

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What Is A Binary Option And How Do Y’all Make Money?

A binary option is a fast and extremely simple financial instrument which allows investors to speculate on whether the price of an asset will go up or down in the hereafter, for example the stock price of Google, the toll of Bitcoin, the USD/GBP exchange rate, or the price of gold.

The fourth dimension bridge can be as petty every bit 60 seconds, making it possible to merchandise hundreds of times per day across whatsoever global marketplace.

Before yous identify a trade you lot know exactly how much you stand to proceeds if your prediction is correct, unremarkably 70-95% – if y’all invest $100 you volition receive a credit of $170 – $195 on a successful trade.

This makes run a risk management and trading decisions much more than simple. You also know exactly how much you will lose on a single trade.

The consequence is ever a Aye or No answer – you either win it all or you lose information technology all – hence it being a “binary” option. The chance and reward is known in accelerate and this structured payoff is 1 of the attractions.

Exchange traded binaries are likewise now available, pregnant traders are not trading against the broker.

To become started trading you get-go need a regulated broker account (or licensed). Selection one from the recommended brokers list, where only brokers that have shown themselves to be trustworthy are included. The tiptop broker has been selected equally the best choice for about traders.

If you are completely new to binary options you can open a demo account with most brokers, to endeavour out their platform and see what it’south like to trade before you deposit real money.

Example of a binary options trade

Introduction Video – How to Merchandise Binary Options

These videos will innovate y’all to the concept of binary options and how trading works. If you desire to know even more detail, please read this whole page and follow the links to all the more in-depth manufactures.

Binary trading does not have to be complicated, but as with any topic you can educate yourself to exist an expert and perfect your skills.

Pick Types

The nearly common type of binary option is the simple “Up/Down” trade. In that location are even so, different types of option. The i common cistron, is that the issue will have a “binary” result (Yes or No). Here are some of the types bachelor:

  • Up/Downward or High/Low
    – The bones and most common binary pick. Will a price finish college or lower than the current toll a the time of expiry.
  • In/Out, Range or Boundary
    – This selection sets a “high” figure and “low” effigy. Traders predict whether the price will finish within, or outside, of these levels (or ‘boundaries’).
  • Affect/No Affect
    – These have set levels, higher or lower than the electric current price. The trader has to predict whether the actual price volition ‘touch’ those levels at any bespeak between the time of the trade an expiryNote with a touch choice, that the trade can close before the expiry fourth dimension – if the price level is touched before the option expires, and so the “Touch” option will payout immediately, regardless of whether the toll moves abroad from the affect level afterward.
  • Ladder
    – These options behave like a normal Upwardly/Down merchandise, but rather than using the current strike price, the ladder will have preset price levels (‘laddered’ progressively up or downwardly).These tin often exist some style from the current strike price.As these options more often than not demand a significant price move, payouts will often get across 100% – but both sides of the merchandise may not be available.

How to Trade – Step by Pace Guide

Below is a stride by footstep guide to placing a binary trade:

  1. Choose a broker
    – Utilize our broker reviews and comparison tools to notice the best binary trading sitefor yous.
  2. Select the asset or market to trade
    – Assets lists are huge, and cover Commodities, Stocks, Cryptocurrency, Forex or Indices. The price of oil, or the Apple stock toll, for example.
  3. Select the death time
    – Options can elapse anywhere betwixt 30 seconds upwardly to a yr.
  4. Ready the size of the trade
    – Retrieve 100% of the investment is at risk and so consider the trade corporeality carefully.
  5. Click Call / Put or Buy / Sell – Will the asset value ascension or fall? Some banker label buttons differently.
  6. Cheque and confirm the trade – Many brokers give traders a run a risk to ensure the details are correct earlier confirming the trade.

Choose A Broker

Options fraud has been a significant problem in the past. Fraudulent and unlicensed operators exploited binary options as a new exotic derivative.

These firms are thankfully disappearing as regulators accept finally begun to act, but traders still need to look for regulated brokers.

Don’t E’er merchandise with a banker or use a service that’s on our blacklist and scams folio, stick with the ones we recommend here on the site. Here are some shortcuts to pages that can help you determine which broker is right for y’all:

  • Compare all brokers  – if you want to compare the features and offers of all recommended brokers.
  • Bonuses and Offers  – if you lot want to make certain you get extra money to merchandise with, or other promotions and offers.
  • Low minimum deposit brokers – if you desire to merchandise for real without having to deposit large sums of money.
  • Demo Accounts – if you want to try a trading platform “for real” without depositing money at all.
  • Halal Brokers  – if yous are i of the growing number of Muslim traders.

Asset Lists

The number and diversity of assets you can trade varies from banker to broker. Virtually brokers provide options on pop avails such as major forex pairs including the EUR/USD, USD/JPY and GBP/USD, every bit well equally major stock indices such equally the FTSE, Southward&P 500 or Dow Jones Industrial. Bolt including gold, silver, oil are also generally offered.

Individual stocks and equities are also tradable through many binary brokers. Not every stock will be bachelor though, but generally you lot can choose from virtually 25 to 100 popular stocks, such as Google and Apple.

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These lists are growing all the time every bit demand dictates.

The asset lists are always listed clearly on every trading platform, and about brokers make their full asset lists available on their website.

This information is also bachelor within our reviews, including currency pairs.

Trading cryptocurrency via binary trades is likewise booming. The volatile nature of cryptos makes them a pop binary asset. Bitcoin and Ethereum remain the most traded, just yous can notice brokers that list fifty or more alt coins.

Decease Times

The expiry fourth dimension is the indicate at which a trade is closed and settled. The only exception is where a ‘Touch’ pick has striking a preset level prior to expiry. The decease for whatsoever given trade tin range from xxx seconds, upward to a yr.

While binaries initially started with very short expiries, need has ensured there is now a broad range of expiry times available. Some brokers even give traders the flexibility to set their ain specific death fourth dimension.

Expiries are generally grouped into three categories:

  • Brusque Term / Turbo
    – These are normally classed as any decease under 5 minutes
  • Normal
    – These would range from five minutes, upward to ‘cease of twenty-four hour period’ expiries which expire when the local market for that asset closes.
  • Long term
    – Any decease beyond the end of the 24-hour interval would be considered long term. The longest death might be 12 months.


While wearisome to react to binary options initially, regulators around the world are now starting to regulate the industry and make their presence felt. The major regulators currently include:

  • Fiscal Carry Authorization (FCA) – United kingdom of great britain and northern ireland regulator
  • Cyprus Securities and Exchange Commission (CySec) – Cyprus Regulator, often ‘passported’ throughout the EU, under MiFID
  • Article Futures Trading Committee (CFTC) – Usa regulator
  • Australian Securities and Investments Commission (ASIC)
  • Financial Manufacture Regulatory Authorization (FINRA)

There are also regulators operating in Republic of malta, Japan and the Isle of man. Many other authorities are now taking a keen a interest in binaries specifically, notably in Europe where domestic regulators are great to eternalize the CySec regulation.

Unregulated brokers nonetheless operate, and while some are trustworthy, a lack of regulation is a clear warning sign for potential new customers.


(European Securities and Markets Authority) moved to ban the sale and marketing of binary options in the EU. The ban even so, but applies to brokers regulated in the EU.

This leaves traders two choices to keep trading: Firstly, they can merchandise with an unregulated firm – this is extremely high take chances and not advisable. Some unregulated firms are responsible and honest, merely many are not.

The second choice is to use a firm regulated past bodies outside of the EU. ASIC in Australia are a stiff regulator – but they volition not be implementing a ban. This means ASIC regulated firms tin can still accept European union traders. Come across our broker lists for regulated or trusted brokers in your region.

There is also a third option. Traders who register as ‘professional person’ are exempt from the new ban. The ban is but designed to protect ‘retail’ investors.

A professional trader can proceed trading at EU regulated brokers such as IQ Option. To be classed equally professional, an business relationship holder must encounter two of these three criteria:

  1. Open up ten or more trades per quarter, of €150 or more than.
  2. Have assets of €500,000 or more
  3. Have worked for two years in a financial firm and have experience of financial products.

Strategies and Guides

We accept a lot of detailed guides and strategy articles for both full general education and specialized trading techniques. Below are a few to get you lot started if you want to learn the basic earlier you lot commencement trading. From Martingale to Rainbow, y’all can find enough more on the strategy folio.

  • The best binary options books
  • Goals for New Binary Traders
  • Binary Options Jargon You Should Know
  • How to Go a Binary Options Millionaire
  • Trading times
  • How to Trade Stocks
  • Simple Strategies for Newbies
  • The After Hours Trading Strategy
  • The Simple Balanced System
  • Trader Beware! Is That A Tool Or A Strategy?
  • Introduction to trends and timeframes
  • Trend analysis for brusque term traders
  • Iii Tools All Traders Should Know
  • How To Trade Butterfly Patterns
  • Binary Options Markets

Signals and Other Services

  • What should you look for when searching for a strategy, system or service?
  • Even Skilful SSP’s Aren’t Worth Your Time

For further reading on signals and reviews of different services become to the signals folio.

Beginners Guides

If you are totally new to the trading scene then watch this bang-up video past Professor Shiller of Yale University who introduces the master ideas of options:

Instruction for beginners:

  • Lesson i: All-time Fourth dimension to Merchandise
  • Lesson two: Tools for Trading
  • Lesson iii: Trading Breakouts using Pin Points
  • Lesson iv: How to Use the Fibonacci Tool
  • Lesson v: Risk Management
  • Lesson 6: Variable Binary Options
  • Lesson seven: How to Postpone Expiration Times
  • Lesson 8: When Non to Trade
  • Lesson 9: Going Mobile
  • Lesson 10: Using the FX Helpers Organisation
  • Lesson 11: Using the FX Turbo Marksman Indicator
  • Lesson 12: Analysing a Trade

Types of Trades

  • Affect/No Touch
  • Target Bet
  • Ladder Bet
  • Tunnel Bet
  • Loftier/Low

How to Prepare a Trade

The ability to trade the different types of binary options tin be achieved by agreement certain concepts such as strike price or price bulwark, settlement, and expiration date. All trades accept dates at which they expire.

When the trade expires, the behaviour of the price action according to the type selected volition determine if it’due south in turn a profit (in the money) or in a loss position (out-of-the-coin).

In improver, the price targets are cardinal levels that the trader sets as benchmarks to determine outcomes. We will see the application of toll targets when we explain the different types.

At that place are 3 types of trades. Each of these has unlike variations. These are:

  1. Loftier/Low
  2. In/Out
  3. Affect/No Touch

Let usa take them one after the other.


Also called the Up/Downwardly binary trade, the essence is to predict if the market price of the asset volition end upwards higher or lower than the strike price (the selected target cost) before the expiration. If the trader expects the price to go up (the “Up” or “High” merchandise), he purchases a call option. If he expects the toll to head downward (“Low” or “Downwards”), he purchases a put option. Death times can exist as low as v minutes.

Delight note: some brokers classify Up/Downwardly as a dissimilar types, where a trader purchases a call choice if he expects the price to ascension beyond the current price, or purchases a put option if he expects the price to fall below current prices. You lot may see this as a
Rise/Fall type on some trading platforms.


The In/Out type, likewise called the “tunnel trade” or the “boundary trade”, is used to trade price consolidations (“in”) and breakouts (“out”). How does it work? First, the trader sets two price targets to course a price range. He then purchases an option to predict if the price will stay within the price range/tunnel until expiration (In) or if the price will breakout of the price range in either direction (Out).

The best way to use the tunnel binaries is to utilise the pin points of the nugget. If you lot are familiar with pivot points in forex, then yous should be able to trade this type.

Affect/No Touch

This blazon is predicated on the price activity touching a price barrier or non. A “Touch” option is a type where the trader purchases a contract that volition deliver turn a profit if the market cost of the nugget purchased touches the fix target price at to the lowest degree in one case before expiry.

If the price activity does not touch on the price target (the strike price) before expiry, the merchandise will terminate up every bit a loss.

A “No Bear upon” is the exact contrary of the Touch. Here you are betting on the cost action of the underlying asset not touching the strike price before the expiration.

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There are variations of this type where we have the Double Touch and Double No Touch. Hither the trader can set up two price targets and purchase a contract that bets on the price touching both targets before expiration (Double Touch) or not touching both targets before expiration (Double No Touch).

Normally y’all would merely employ the Double Touch trade when there is intense market place volatility and prices are expected to take out several price levels.

Some brokers offering all three types, while others offer ii, and there are those that offer only ane diversity. In improver, some brokers likewise put restrictions on how expiration dates are set.

In club to go the best of the different types, traders are advised to shop around for brokers who volition give them maximum flexibility in terms of types and expiration times that can be set.

Mobile Apps

Trading via your mobile has been made very easy as all major brokers provide fully developed mobile trading apps. Most trading platforms accept been designed with mobile device users in mind.

And then the mobile version will exist very similar, if not the same, equally the total web version on the traditional websites.

Brokers will cater for both iOS and Android devices, and produce versions for each. Downloads are quick, and traders tin can sign up via the mobile site likewise.

Our reviews contain more detail about each brokers mobile app, but near are fully aware that this is a growing area of trading.

Traders want to react immediately to news events and market updates, so brokers provide the tools for clients to trade wherever they are.

Example of a binary trading app (IQ Option)

Trading FAQ

What Does Binary Options Mean?

“Binary options” means, put very simply, a merchandise where the outcome is a ‘binary’ Aye/No reply. These options pay a fixed amount if they win (known equally “in the money”), but the entire investment is lost, if the binary trade loses. So, in short, they are a grade of fixed render financial options.

How Does a Stock Merchandise Work?

Steps to trade a stock via a binary option;

  1. Select the stock or equity.
  2. Identify the desired expiry time (The time the option volition terminate).
  3. Enter the size of the merchandise or investment
  4. Decide if the value will ascent or fall and place a put or phone call

The steps higher up will be the same at every single broker. More layers of complexity can be added, only when trading equities the elementary Upward/Down merchandise blazon remains the most pop.

Put and Call Options

Call and Put are simply the terms given to buying or selling an choice. If a trader thinks the underlying price will go upwardly in value, they can open a call. Simply where they expect the toll to go downwards, they tin place a put merchandise.

Different trading platforms label their trading buttons different, some even switch between Purchase/Sell and Call/Put. Others drib the phrases put and call altogether.

Nearly every trading platform will make information technology absolutely articulate which management a trader is opening an option in.

Are Binary Options a Scam?

As a financial investment tool they in themselves non a scam, but at that place are brokers, trading robots and signal providers that are untrustworthy and dishonest.

The point is not to write off the concept of binary options, based solely on a scattering of quack brokers.

The paradigm of these financial instruments has suffered equally a consequence of these operators, but regulators are slowly starting to prosecute and fine the offenders and the manufacture is beingness cleaned upward. Our forum is a great identify to enhance awareness of any wrongdoing.

These elementary checks tin can help anyone avoid the scams:

  • Marketing promising huge returns. This is articulate warning sign. Binaries are a high hazard / high reward tool – they are not a “make money online” scheme and should not be sold as such. Operators making such claims are very likely to be untrustworthy.
  • Know the broker. Some operators will ‘funnel’ new client to a broker they partner with, so the person has no thought who their business relationship is with. A trader should know the banker they are going to merchandise with! These funnels oftentimes fall into the “get rich quick” marketing discussed earlier.
  • Cold Calls. Professional brokers volition not make common cold calls – they exercise not marketplace themselves in that manner. Common cold calls volition frequently be from unregulated brokers interested only in getting an initial deposit. Continue extremely carefully if joining a visitor that got in contact this way. This would include email contact as well – whatsoever class of contact out of the blue.
  • Terms and Conditions. When taking a bonus or offer, read the full terms and conditions. Some will include locking in an initial eolith (in improver to the bonus funds) until a high volume of trades take been made. The first deposit is the trader’s greenbacks – legitimate brokers would not claim it as theirs before any trading. Some brokers too offer the pick of cancelling a bonus if it does not fit the needs of the trader.
  • Do not let anyone trade for y’all. Avoid allowing any “account managing director” to merchandise for you lot. There is a clear conflict of interest, merely these employees of the banker will encourage traders to make big deposits, and take greater risks . Traders should not let anyone trade on their behalf.

Which Are The Best Trading Strategies?

Binary trading strategies are unique to each merchandise. We have a strategy department, and there are ideas that traders can experiment with. Technical assay is of use to some traders, combined with charts, indicators and toll action research.

Money direction is essential to ensure take a chance management is applied to all trading. Different styles will suit different traders and strategies will likewise evolve and change.

There is no single “best” strategy. Traders need to ask questions of their investing aims and risk appetite and then larn what works for them.

Are Binary Options Gambling?

This will depend entirely on the habits of the trader. With no strategy or inquiry, then whatever short term investment is going to win or lose based only on luck. Conversely, a trader making a well researched trade will ensure they have washed all they can to avoid relying on good fortune.

Binary options can exist used to gamble, simply they can also be used to brand trades based on value and expected profits. So the reply to the question will come down to the trader.

Advantages of Binary Trading

The main benefit of binaries is the clarity of risk and reward and the construction of the merchandise.

Managing Financial Risk

If you have traded forex or its more volatile cousins, crude oil or spot metals such as gold or silver, you will take probably learnt i thing: these markets behave a lot of gamble and information technology is very easy to be blown off the market.

Things similar leverage and margin, news events, slippages and toll re-quotes, etc can all impact a trade negatively. The situation is different in binary options trading.

There is no leverage to fence with, and phenomena such as slippage and cost re-quotes have no outcome on binary selection merchandise outcomes.

Tax implications may as well be benign, depending on your location.

This reduces the risk in binary pick trading to the barest minimum.


The binary options market place allows traders to merchandise financial instruments spread beyond the currency and commodity markets equally well as indices and bonds.

This flexibility is unparalleled, and gives traders with the cognition of how to trade these markets, a 1-stop shop to trade all these instruments.


A binary merchandise outcome is based on simply one parameter: management. The trader is essentially betting on whether a financial asset will end up in a item direction.

In addition, the trader is at liberty to determine when the trade ends, by setting an expiry appointment.

This gives a trade that initially started badly the opportunity to end well. This is not the case with other markets. For instance, command of losses can only exist achieved using a cease loss.

Otherwise, a trader has to endure a drawdown if a trade takes an adverse turn in club to give it room to plough assisting. The elementary bespeak beingness made here is that in binary options, the trader has less to worry about than if he were to trade other markets.

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Greater Control Of Trades

Traders accept better control of trades in binaries. For example, if a trader wants to buy a contract, he knows in advance, what he stands to gain and what he will lose if the merchandise is out-of-the-money.

This is non the case with other markets. For instance, when a trader sets a pending order in the forex market to trade a high-impact news event, there is no assurance that his trade will be filled at the entry price or that a losing trade will be closed out at the exit stop loss.

Higher Payouts

The payouts per trade are commonly higher in binaries than with other forms of trading. Some brokers offer payouts of up to 80% on a trade. This is achievable without jeopardising the account.

In other markets, such payouts can merely occur if a trader disregards all rules of money management and exposes a big amount of trading capital to the market place, hoping for one large payout (which never occurs in most cases).


In lodge to trade the highly volatile forex or commodities markets, a trader has to accept a reasonable amount of money as trading uppercase. For instance, trading gold, a article with an intra-twenty-four hour period volatility of up to 10,000 pips in times of high volatility, requires trading capital in tens of thousands of dollars.

However, binary options has much lower entry requirements, as some brokers allow people to start trading with as low equally $x.

Disadvantages of Binary Trading

Reduced Trading Odds for Sure-Banker Trades

The payouts for binary options trades are drastically reduced when the odds for that trade succeeding are very high.

While information technology is true that some trades offer as much equally 85% payouts per trade, such loftier payouts are possible merely when a merchandise is made with the expiry date set at some distance away from the date of the trade.

Of class in such situations, the trades are more than unpredictable.

Lack Of Good Trading Tools

Some brokers do not offering truly helpful trading tools such as charts and features for technical analysis to their clients.

Experienced traders can get around this by sourcing for these tools elsewhere; inexperienced traders who are new to the marketplace are non as fortunate.

This is changing for the better though, equally operators mature and become enlightened of the need for these tools to attract traders.

Limitations On Run a risk Direction

Dissimilar in forex where traders can become accounts that permit them to trade mini- and micro-lots on pocket-size account sizes, many binary option brokers fix a trading floor; minimum amounts which a trader can trade in the market.

This makes it easier to lose likewise much capital when trading binaries. As an illustration, a forex broker may permit you to open up an account with $200 and trade micro-lots, which allows a trader to expose merely acceptable amounts of his capital to the market.

All the same, you will exist hard put finding many binary brokers that volition allow y’all to trade below $fifty, even with a $200 account. In this situation, 4 losing trades volition blow the business relationship.

Cost Of Losing Trades

Dissimilar in other markets where the risk/advantage ratio can exist controlled and ready to give an edge to winning trades, the odds of binary options tilt the risk-advantage ratio in favour of losing trades.

Merchandise Corrections

When trading a market like the forex or commodities market, information technology is possible to shut a trade with minimal losses and open up some other profitable one, if a repeat analysis of the merchandise reveals the first trade to have been a mistake. Where binaries are traded on an exchange, this is mitigated however.

Spot Forex vs Binary Trading

These are two different alternatives, traded with ii different psychologies, but both can make sense as investment tools. One is more TIME centric and the other is more PRICE centric. They both work in fourth dimension/cost merely the focus yous volition notice from ane to the other is an interesting separate.

Spot forex traders might overlook fourth dimension as a factor in their trading which is a very very big mistake. The successful binary trader has a more balanced view of time/price, which simply makes him a more well rounded trader.

Binaries by their nature force one to exit a position within a given time frame win or lose which instills a greater focus on discipline and risk management.

In forex trading this lack of subject area is the #1 cause for failure to near traders as they will only hold losing positions for longer periods of fourth dimension and cut winning positions in shorter periods of fourth dimension.

In binary options that is non possible as fourth dimension expires your trade ends win or lose. Below are some examples of how this works.

forex binary options

Above is a trade made on the EUR/USD buying in an under 10 minute window of price and time. As a binary trader this focus will naturally make yous ameliorate than the below example, where a spot forex trader who focuses on price while ignoring the time element ends upwardly in problem. This psychology of being able to focus on limits and the dual axis volition aid you in becoming a better trader overall.

forex example chart

The very advantage of spot trading is its very same failure – the expansion of profits exponentially from i bespeak in price.

This is to say that if you enter a position that yous believe will increment in value and the price does not increase yet accelerates to the downside, the normal tendency for almost spot traders is to wait it out or worse add together to the losing positions as they figure it will come up dorsum.

The acceleration in time to the opposite desired direction causes most spot traders to be trapped in unfavourable positions, all because they exercise non programme time into their reasoning, and this leads to a complete lack of trading bailiwick.


The nature of binary options force one to accept a more than complete mindset of trading off both Y = Price Range and 10 = Time Range as limits are applied. They volition simply make you a better overall trader from the start.

Conversely on the flip side, they by their nature require a greater win rate every bit each bet means alxx-90% gain
vs a100% loss. So your win rate needs to be on boilerplate 54%-58% to suspension even.

This imbalance causes many traders to overtrade or revenge trade which is just as bad as belongings/calculation to losing positions as a spot forex trader. To successfully merchandise you need to practice money management and emotional control.

In conclusion, when starting out as a trader, binaries might offering a amend foundation to learn trading. The uncomplicated reasoning is that the focus on Fourth dimension/PRICE combined is similar looking both ways when crossing the street.

The boilerplate spot forex trader just looks at toll, which means he is only looking in one direction before crossing the street.

Learning to trade taking both time and cost into consideration should help in making one a much overall trader.

References And Farther Reading

  1. A Study of Optimal Stock and Options Strategies (Dash, Mihir and V., Kavitha and K.Yard., Deepa and S., Sindhu, 2007)
  2. Is There Money to Exist Made Investing in Options: A Historical Perspective (Doran, James and Fodor, Andy, 2006)
  3. An Investor’s Guide to Trading Options (Virginia B. Morris, Bess Newman – Lightbulb Press, Inc., 2004)
  4. Trading Binary Options: Strategies and Tactics (Abe Cofnas – John Wiley & Sons, 2011)
  5. Binary Options: Fixed Odds Financial Bets (Hamish Raw – Harriman House Limited, 2011)
  6. Binary Options: Strategies for Directional and Volatility Trading (Alex Nekritin – John Wiley & Sons, 2012)
  7. How to Trade Binary Options Successfully: A Complete Guide to Binary Options Trading (Meir Liraz – Liraz Publishing)
  8. Option Trading and Individual Investor Performance (R Bauer, M Cosemans, P Eichholtz – Periodical of banking & finance, Vol three Issue 4, 2009)
  9. Binary Choice Pricing Using Fuzzy Numbers (A Thavaneswaran, S.S Appadoo, J Frank – Practical Mathematics Letters, Vol 26, Issue 1, 2013)