Trading Binary Options Without Indicators

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

We have shut to a chiliad articles and reviews to guide you to exist a more profitable trader in 2022 no matter what your current experience level is.

If you lot wish to discuss trading or brokers with other traders, we also have the world’s largest forum with over xx 000 members and lots of daily activity. Read on to go started trading today!

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If someone is claiming to work for Binaryoptions.cyberspace, it is a scam. Read the scams page to ensure y’all stay protected while trading.

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Forex Binary Options

What Is A Binary Choice And How Practice Yous Make Money?

A binary option is a fast and extremely simple fiscal instrument which allows investors to speculate on whether the cost of an asset volition go upwardly or down in the future, for example the stock price of Google, the cost of Bitcoin, the USD/GBP exchange rate, or the price of gold.

The time span can be equally lilliputian as 60 seconds, making information technology possible to trade hundreds of times per day across any global market place.

Before you place a trade y’all know exactly how much yous stand to gain if your prediction is right, usually 70-95% – if you invest $100 you will receive a credit of $170 – $195 on a successful trade.

This makes risk management and trading decisions much more than uncomplicated. You also know exactly how much you volition lose on a single merchandise.

The outcome is ever a Aye or No answer – yous either win it all or you lose it all – hence it being a “binary” pick. The risk and reward is known in advance and this structured payoff is i of the attractions.

Exchange traded binaries are also at present available, pregnant traders are non trading against the broker.

To get started trading you lot first need a regulated banker business relationship (or licensed). Choice one from the recommended brokers list, where only brokers that accept shown themselves to be trustworthy are included. The top broker has been selected as the best choice for most traders.

If you lot are completely new to binary options you can open up a demo account with most brokers, to try out their platform and encounter what it’s like to trade before yous eolith real money.

Introduction Video – How to Merchandise Binary Options

These videos will introduce you to the concept of binary options and how trading works. If you want to know even more detail, delight read this whole folio and follow the links to all the more in-depth articles.

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

Option Types

The most common type of binary option is the simple “Up/Downwards” trade. At that place are however, different types of selection. The one common factor, is that the consequence will have a “binary” result (Yeah or No). Here are some of the types bachelor:

• Up/Down or High/Low
  – The bones and virtually mutual binary choice. Volition a toll cease higher or lower than the current price a the time of decease.
• In/Out, Range or Purlieus
  – This option sets a “high” figure and “low” figure. Traders predict whether the price will end within, or outside, of these levels (or ‘boundaries’).
• Touch/No Touch
  – These take gear up levels, higher or lower than the electric current price. The trader has to predict whether the bodily toll volition ‘touch’ those levels at whatever betoken between the time of the merchandise an expiryNote with a touch choice, that the trade can close earlier the expiry time – if the price level is touched before the selection expires, then the “Touch” option will payout immediately, regardless of whether the price moves away from the bear on level subsequently.
• Ladder
  – These options behave like a normal Up/Down trade, but rather than using the current strike cost, the ladder will accept preset toll levels (‘laddered’ progressively up or downwards).These tin often exist some way from the current strike price.As these options generally need a significant price move, payouts will often go beyond 100% – only both sides of the trade may non exist bachelor.

How to Trade – Step past Step Guide

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

1. Choose a broker
   – Use our broker reviews and comparison tools to find the best binary trading sitefor you.
2. Select the nugget or market to trade
   – Assets lists are huge, and embrace Commodities, Stocks, Cryptocurrency, Forex or Indices. The cost of oil, or the Apple tree stock price, for example.
3. Select the expiry fourth dimension
   – Options tin elapse anywhere between 30 seconds upwards to a year.
4. Set up the size of the trade
   – Call up 100% of the investment is at adventure so consider the trade amount carefully.
5. Click Call / Put or Buy / Sell – Will the asset value rise or fall? Some banker label buttons differently.
6. Check and ostend the trade – Many brokers requite traders a chance to ensure the details are correct earlier confirming the trade.

Choose A Broker

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

These firms are thankfully disappearing every bit regulators accept finally begun to deed, but traders however need to look for regulated brokers.

Annotation!
Don’t EVER merchandise with a banker or use a service that’s on our blacklist and scams page, stick with the ones we recommend hither on the site. Hither are some shortcuts to pages that tin help you decide which broker is right for you:

• Compare all brokers  – if you lot desire to compare the features and offers of all recommended brokers.
• Bonuses and Offers  – if you want to make sure you get extra money to trade with, or other promotions and offers.
• Low minimum eolith brokers – if you desire to trade for real without having to deposit large sums of money.
• Demo Accounts – if you want to endeavour a trading platform “for real” without depositing coin at all.
• Halal Brokers  – if you are 1 of the growing number of Muslim traders.

Asset Lists

The number and diversity of avails y’all can trade varies from broker to banker. Well-nigh brokers provide options on popular assets such as major forex pairs including the EUR/USD, USD/JPY and GBP/USD, every bit well equally major stock indices such as the FTSE, S&P 500 or Dow Jones Industrial. Commodities including gold, silver, oil are likewise generally offered.

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

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

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

This data is also available within our reviews, including currency pairs.

Trading cryptocurrency via binary trades is too booming. The volatile nature of cryptos makes them a pop binary asset. Bitcoin and Ethereum remain the almost traded, only you can find brokers that listing 50 or more alt coins.

Expiry Times

The expiry fourth dimension is the point at which a trade is closed and settled. The merely exception is where a ‘Touch’ option has hit a preset level prior to expiry. The expiry for whatsoever given trade can range from xxx seconds, up to a year.

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

Expiries are more often than not grouped into three categories:

• Brusk Term / Turbo
  – These are usually classed as any death under 5 minutes
• Normal
  – These would range from 5 minutes, upwardly to ‘end of day’ expiries which expire when the local marketplace for that nugget closes.
• Long term
  – Any death beyond the end of the day would be considered long term. The longest decease might be 12 months.

Regulation

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

• Financial Conduct Authority (FCA) – Britain regulator
• Cyprus Securities and Exchange Commission (CySec) – Cyprus Regulator, often ‘passported’ throughout the EU, nether MiFID
• Article Futures Trading Commission (CFTC) – US regulator
• Australian Securities and Investments Commission (ASIC)
• Fiscal Manufacture Regulatory Dominance (FINRA)

There are also regulators operating in Malta, Japan and the Isle of mann. Many other authorities are now taking a keen a interest in binaries specifically, notably in Europe where domestic regulators are nifty to bolster the CySec regulation.

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

ESMA

Recently,
ESMA
(European Securities and Markets Authority) moved to ban the auction and marketing of binary options in the Eu. The ban however, only applies to brokers regulated in the EU.

This leaves traders 2 choices to keep trading: Firstly, they tin trade with an unregulated firm – this is extremely high gamble and not appropriate. Some unregulated firms are responsible and honest, but many are not.

The second choice is to use a house regulated by bodies exterior of the European union. ASIC in Australia are a stiff regulator – only they will not be implementing a ban. This means ASIC regulated firms tin can notwithstanding accept European union traders. Meet our broker lists for regulated or trusted brokers in your region.

At that place is besides a third pick. Traders who register as ‘professional’ are exempt from the new ban. The ban is merely designed to protect ‘retail’ investors.

A professional person trader can continue trading at Eu regulated brokers such as IQ Option. To be classed as professional person, an account holder must meet two of these 3 criteria:

1. Open 10 or more than trades per quarter, of €150 or more.
2. Have assets of €500,000 or more
3. Accept worked for two years in a fiscal business firm and accept feel of financial products.

Strategies and Guides

We take a lot of detailed guides and strategy articles for both general education and specialized trading techniques. Beneath are a few to get you lot started if y’all want to larn the basic before you start trading. From Martingale to Rainbow, you can find plenty more on the strategy page.

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

Signals and Other Services

• What should you look for when searching for a strategy, organization or service?
• Even Good SSP’due south Aren’t Worth Your Time

For further reading on signals and reviews of different services go to the signals page.

Beginners Guides

If you are totally new to the trading scene then scout this peachy video by Professor Shiller of Yale University who introduces the main ideas of options:

Pedagogy for beginners:

• Lesson 1: Best Fourth dimension to Trade
• Lesson ii: Tools for Trading
• Lesson 3: Trading Breakouts using Pivot Points
• Lesson 4: How to Use the Fibonacci Tool
• Lesson five: Take chances Management
• Lesson 6: Variable Binary Options
• Lesson 7: How to Postpone Expiration Times
• Lesson 8: When Not to Merchandise
• Lesson 9: Going Mobile
• Lesson 10: Using the FX Helpers Arrangement
• Lesson 11: Using the FX Turbo Marksman Indicator
• Lesson 12: Analysing a Merchandise

Types of Trades

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

How to Set Up a Trade

The ability to merchandise the different types of binary options can be accomplished by understanding sure concepts such every bit strike price or price barrier, settlement, and expiration date. All trades have dates at which they expire.

When the merchandise expires, the behaviour of the price action according to the blazon selected volition determine if it’s in profit (in the coin) or in a loss position (out-of-the-coin).

In addition, the price targets are key levels that the trader sets every bit benchmarks to determine outcomes. We will run across the awarding of price targets when we explain the dissimilar types.

At that place are three types of trades. Each of these has different variations. These are:

1. High/Low
2. In/Out
3. Bear upon/No Touch

Permit the states take them one after the other.

High/Low

Also called the Upwardly/Downwardly binary trade, the essence is to predict if the market price of the asset will end up higher or lower than the strike price (the selected target price) before the expiration. If the trader expects the toll to go up (the “Upwards” or “High” trade), he purchases a call option. If he expects the cost to head downward (“Depression” or “Downwardly”), he purchases a put option. Expiry times tin can be as depression as 5 minutes.

Please notation: some brokers classify Upwards/Down as a different types, where a trader purchases a phone call option if he expects the price to rise beyond the current price, or purchases a put choice if he expects the price to autumn below current prices. You may see this every bit a
Rise/Fall type on some trading platforms.

In/Out

The In/Out type, also called the “tunnel trade” or the “boundary trade”, is used to trade toll consolidations (“in”) and breakouts (“out”). How does it work? First, the trader sets 2 price targets to grade a price range. He then purchases an pick to predict if the price volition stay within the price range/tunnel until expiration (In) or if the price will breakout of the toll range in either direction (Out).

The best way to utilize the tunnel binaries is to utilize the pivot points of the asset. If you lot are familiar with pivot points in forex, then you should exist able to trade this type.

Bear on/No Touch

This type is predicated on the toll action touching a toll barrier or not. A “Touch” option is a type where the trader purchases a contract that will deliver profit if the marketplace toll of the nugget purchased touches the ready target toll at least once earlier expiry.

If the price action does non touch the cost target (the strike price) before expiry, the trade volition end up equally a loss.

A “No Bear upon” is the exact opposite of the Impact. Here you are betting on the price activity of the underlying asset not touching the strike price before the expiration.

There are variations of this type where nosotros have the Double Touch on and Double No Touch. Hither the trader can set two toll 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 Bear upon).

Normally yous would only use the Double Bear upon trade when at that place is intense market volatility and prices are expected to take out several price levels.

Some brokers offer all three types, while others offering ii, and there are those that offer only one variety. In add-on, some brokers as well put restrictions on how expiration dates are set.

In order to get the best of the different types, traders are advised to store around for brokers who will give them maximum flexibility in terms of types and expiration times that tin be gear up.

Mobile Apps

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

So the mobile version will be very similar, if not the same, as the full 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 upwards via the mobile site as well.

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

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

Trading FAQ

What Does Binary Options Mean?

“Binary options” means, put very simply, a trade where the outcome is a ‘binary’ Yes/No answer. These options pay a fixed corporeality if they win (known as “in the coin”), only the entire investment is lost, if the binary trade loses. So, in short, they are a form of stock-still return fiscal options.

How Does a Stock Trade Work?

Steps to merchandise a stock via a binary option;

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

The steps higher up will be the same at every single banker. More layers of complexity can be added, but when trading equities the unproblematic Up/Down trade blazon remains the virtually popular.

Put and Call Options

Call and Put are only the terms given to buying or selling an option. If a trader thinks the underlying price will go up in value, they can open a call. Simply where they expect the cost to go downwards, they can place a put trade.

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

Most every trading platform will make it admittedly clear which management a trader is opening an selection in.

Are Binary Options a Scam?

As a financial investment tool they in themselves non a scam, just there are brokers, trading robots and betoken providers that are untrustworthy and dishonest.

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

The image of these financial instruments has suffered as a result of these operators, only regulators are slowly starting to prosecute and fine the offenders and the industry is being cleaned up. Our forum is a keen place to raise awareness of any wrongdoing.

These elementary checks can assistance anyone avoid the scams:

• Marketing promising huge returns. This is clear warning sign. Binaries are a high risk / 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 banker. Some operators will ‘funnel’ new customer to a banker they partner with, so the person has no thought who their account is with. A trader should know the broker they are going to trade with! These funnels often fall into the “get rich quick” marketing discussed earlier.
• Common cold Calls. Professional brokers will not make cold calls – they do not marketplace themselves in that way. Cold calls volition oft be from unregulated brokers interested merely in getting an initial deposit. Go along extremely advisedly if joining a visitor that got in contact this style. This would include email contact too – whatsoever grade 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 deposit (in addition to the bonus funds) until a high volume of trades have been fabricated. The first eolith is the trader’s cash – legitimate brokers would not merits it as theirs before any trading. Some brokers as well offering the option of cancelling a bonus if it does not fit the needs of the trader.
• Do non let anyone trade for you. Avoid allowing whatsoever “business relationship manager” to merchandise for y’all. There is a clear conflict of involvement, but these employees of the broker volition encourage traders to make large deposits, and take greater risks . Traders should not let anyone merchandise on their behalf.

Which Are The All-time Trading Strategies?

Binary trading strategies are unique to each trade. Nosotros have a strategy section, and there are ideas that traders tin can experiment with. Technical analysis is of use to some traders, combined with charts, indicators and price activity research.

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

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

Are Binary Options Gambling?

This will depend entirely on the habits of the trader. With no strategy or enquiry, so whatever brusk term investment is going to win or lose based only on luck. Conversely, a trader making a well researched trade will ensure they accept done all they tin can to avoid relying on good fortune.

Binary options can be used to run a risk, but they can also be used to make trades based on value and expected profits. So the answer to the question will come down to the trader.

Advantages of Binary Trading

The principal benefit of binaries is the clarity of risk and advantage and the structure of the merchandise.

Managing Financial Risk

If you take traded forex or its more volatile cousins, crude oil or spot metals such equally gold or silvery, yous volition take probably learnt one thing: these markets carry a lot of run a risk and it is very piece of cake to be blown off the market.

Things similar leverage and margin, news events, slippages and price re-quotes, etc can all affect a merchandise negatively. The situation is dissimilar in binary options trading.

There is no leverage to contend with, and phenomena such as slippage and price re-quotes accept no effect on binary option trade outcomes.

Tax implications may also exist benign, depending on your location.

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

Flexibility

The binary options market allows traders to trade financial instruments spread beyond the currency and commodity markets likewise as indices and bonds.

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

Simplicity

A binary trade upshot is based on just 1 parameter: direction. The trader is essentially betting on whether a financial nugget volition finish up in a particular management.

In add-on, the trader is at liberty to make up one’s mind when the merchandise ends, by setting an decease date.

This gives a merchandise that initially started badly the opportunity to stop well. This is not the example with other markets. For example, control of losses can only be achieved using a stop loss.

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

Greater Control Of Trades

Traders have better command of trades in binaries. For example, if a trader wants to purchase a contract, he knows in advance, what he stands to gain and what he will lose if the trade is out-of-the-money.

This is not the case with other markets. For example, when a trader sets a pending lodge in the forex market to trade a high-impact news event, at that place is no balls that his trade will be filled at the entry price or that a losing merchandise will be closed out at the exit end loss.

Higher Payouts

The payouts per merchandise are usually higher in binaries than with other forms of trading. Some brokers offer payouts of up to fourscore% on a trade. This is achievable without jeopardising the business relationship.

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

Accessibility

In guild to trade the highly volatile forex or commodities markets, a trader has to have a reasonable amount of money as trading capital. For case, trading gilt, a commodity with an intra-day volatility of up to x,000 pips in times of high volatility, requires trading upper-case letter in tens of thousands of dollars.

However, binary options has much lower entry requirements, equally some brokers permit people to start trading with as depression as $10.

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 offering as much every bit 85% payouts per trade, such high payouts are possible but when a merchandise is made with the expiry appointment set at some distance abroad from the appointment of the trade.

Of course in such situations, the trades are more unpredictable.

Lack Of Good Trading Tools

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

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

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

Limitations On Gamble Direction

Unlike in forex where traders tin become accounts that allow them to merchandise mini- and micro-lots on small account sizes, many binary selection brokers fix a trading floor; minimum amounts which a trader can merchandise in the market.

This makes information technology easier to lose too much majuscule when trading binaries. As an illustration, a forex broker may allow you to open an account with $200 and trade micro-lots, which allows a trader to expose only acceptable amounts of his capital letter to the market.

However, you volition be hard put finding many binary brokers that will allow you lot to trade below $50, even with a $200 account. In this situation, iv losing trades volition blow the account.

Cost Of Losing Trades

Unlike in other markets where the chance/advantage ratio tin can be controlled and set to give an border to winning trades, the odds of binary options tilt the hazard-reward ratio in favour of losing trades.

Trade Corrections

When trading a market like the forex or bolt market place, it is possible to close a trade with minimal losses and open another profitable one, if a repeat analysis of the merchandise reveals the offset trade to have been a mistake. Where binaries are traded on an commutation, this is mitigated all the same.

Spot Forex vs Binary Trading

These are two dissimilar alternatives, traded with two different psychologies, merely both tin can make sense as investment tools. One is more Fourth dimension axial and the other is more PRICE centric. They both work in time/price but the focus you will find from i to the other is an interesting split.

Spot forex traders might overlook time as a gene in their trading which is a very very big mistake. The successful binary trader has a more than balanced view of time/cost, 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 hazard management.

In forex trading this lack of subject area is the #i crusade for failure to most traders as they volition simply hold losing positions for longer periods of fourth dimension and cut winning positions in shorter periods of time.

In binary options that is not possible as time expires your trade ends win or lose. Below are some examples of how this works.

Above is a trade made on the EUR/USD ownership in an under x minute window of cost and fourth dimension. As a binary trader this focus volition naturally brand you better than the beneath example, where a spot forex trader who focuses on price while ignoring the time element ends upwards in trouble. This psychology of being able to focus on limits and the dual axis volition aid you in becoming a meliorate trader overall.

The very reward of spot trading is its very same failure – the expansion of profits exponentially from 1 point in price.

This is to say that if you enter a position that you believe volition increase in value and the price does not increase notwithstanding accelerates to the downside, the normal trend for most spot traders is to wait it out or worse add together to the losing positions as they figure it will come back.

The acceleration in time to the reverse desired direction causes well-nigh spot traders to be trapped in unfavourable positions, all because they do non plan time into their reasoning, and this leads to a complete lack of trading bailiwick.

The nature of binary options force one to have a more consummate mindset of trading off both Y = Price Range and X = Time Range as limits are practical. They will merely make you a better overall trader from the get-go.

Conversely on the flip side, they by their nature require a greater win rate every bit each bet means a70-90% proceeds
vs a100% loss. So your win rate needs to be on average 54%-58% to break fifty-fifty.

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

In decision, when starting out as a trader, binaries might offer a better foundation to learn trading. The simple reasoning is that the focus on TIME/PRICE combined is similar looking both ways when crossing the street.

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

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

References And Farther Reading

1. A Study of Optimal Stock and Options Strategies (Nuance, Mihir and V., Kavitha and Thou.G., Deepa and S., Sindhu, 2007)
2. Is There Money to Be Made Investing in Options: A Historical Perspective (Doran, James and Fodor, Andy, 2006)
3. An Investor’southward 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 Firm 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 – Journal of banking & finance, Vol 3 Outcome iv, 2009)
9. Binary Option Pricing Using Fuzzy Numbers (A Thavaneswaran, Southward.S Appadoo, J Frank – Applied Mathematics Letters, Vol 26, Issue 1, 2013)