Trading Binary Options: Strategies and Tactics

Overview

Trading Binary Options

"Are you interested in trading but don't like to wait weeks and months for a return?Are you following news events and want to financially benefit from your knowledge?Or maybe you are new to trading and want to participate but avoid the long learning curve in mastering trading skills. If these questions are on your mind, this book is for you."
—From the Preface

Binary option trading is one of today's fastest growing areas of finance. The greatappeal of ...

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Trading Binary Options: Strategies and Tactics

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Overview

Trading Binary Options

"Are you interested in trading but don't like to wait weeks and months for a return?Are you following news events and want to financially benefit from your knowledge?Or maybe you are new to trading and want to participate but avoid the long learning curve in mastering trading skills. If these questions are on your mind, this book is for you."
—From the Preface

Binary option trading is one of today's fastest growing areas of finance. The greatappeal of binary options is that they are less complex than conventional optionsand provide a simple method to trade based on an opinion of where the marketis headed over a certain period of time—one week at the most.

In Trading Binary Options, author Abe Cofnas puts this exciting new product inperspective, and shows individual investors and traders how it works, when to use it, and what strategies are most effective. While there are many variations to this typeof trading, this reliable resource focuses on the regulatory approved weekly binary option trades of the North American Derivative Exchange (Nadex).

Engaging and informative, Trading Binary Options:Provides insights on how binary options allow for opportunities to speculate on the direction of a market and receive a substantial payout

Identifies the various markets in which binaries are availableOffers suggestions as to which markets provide the best liquidity and lowest trade execution expenses

And much more

If you're looking to get more out of today's markets, look no further than binary options. With Trading Binary Options as your guide, you'll quickly discover how specific strategies and tactics will allow you to capture consistent profits on a weekly basis.

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Product Details

  • ISBN-13: 9780470952849
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 12/6/2011
  • Series: Bloomberg Financial Series , #134
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 256
  • Sales rank: 991,254
  • Product dimensions: 6.00 (w) x 9.10 (h) x 0.90 (d)

Meet the Author

Abe Cofnas has been the forex trading columnist for Futures magazine since 2001 and has writtenover 100 columns on forex trading strategies and tactics. He is also the author of three Wiley titles,Sentiment Indicators, The Forex Trading Course, and The Forex Options Course. He has, for over two decades,provided fundamental and technical analysis on trading strategies in currencies and inter-markets. He is the founder of learn4x.com, which provides private coaching and seminars on currency trading. In 2008, he formed FXDimensions Inc., a third-party trading system and signal development company that has pioneered the concept of algos that detect trader behavioral patterns. He is a recognized expert in technical analysis and has lectured in London and Dubai (with appearances on CNBC Arabia) and continues to work with students and businesses abroad. Cofnas generates weekly alerts on binary options for Agora Financial's Strategic Currency Trader newsletter. He holds a master's in political science and a master's in public policy from the Graduate School of Political Science, University of California, and the Goldman School of Public Policy, University of California, Berkeley, respectively.

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Table of Contents

Foreword

Preface

Acknowledgments

Introduction: What Are Binary Options and Why Are They Important?

Nadex versus CBOT Binaries

References

Chapter 1: Key Features of a Binary Option Contract

Defining the Key Features

Strike Price vs. Underlying Market Price

Currency Pairs as an Underlying Market

MoneyNess

Moneyness and Trader Direction

The Role of a Market Maker

Sample Bid Ask at Nadex

Chapter 2: Profit Opportunities in Binary Option Trading

Expected Probabilities

Winning Occurrence Analysis

Chapter 3: Sentiment Analysis: The New Predictive Tools

Defining Sentiment

Applying Sentiment Detection Tools

References

Chapter 4: Tracking Economic Forces that Impact Markets

The Fundamental Forces

Correlations Involving Binary Markets

Fear and the U.S. Dollar

Foreign Ownership of U.S. Treasuries

Crude Oil

Implications of Historic Commodity Plunge

Carry Trade and Interest Rate Differentials

Central Bankers Move the Markets

Evaluating Currency Pairs

Using an Economic Calendar as Trading Tool

Chapter 5: Basic Technical Analysis

Key Candlestick Patterns

Trend Lines

Support and Resistance

Confirming Strength with Price Break Charts

Key Patterns for Trading Analysis

Fibonacci Resistance Lines

References

Chapter 6: Advanced Technical Analysis: Volatility Tools

Defining Volatility

Bollinger Bands

VIX: The Fear Index

Option Volatility and Sentiment: Put/Call Ratios

Volatility Smiles

Cycles as Trading Tools

Reviewing the Tools

Chapter 7: General Binary Option Trading Strategies

Core Strategies

Examples for Strategy Selection

Combination Strategies

References

Chapter 8: Strategies for Analyzing Event Risks

Key Steps in Analyzing Event Risks

Putting Strategies and Tactics Together: Timing and Managing Trades

Intermarket Uses of Binary Options

A Word on Intraday Strategies

References

Chapter 9: Risk Management in Theory and Practice

Deal or No Deal?

The Confidence Index

Lot Size Management

Offsetting Trades: Failing Forward

Leverage and Margin

References

Chapter 10: Evaluating and Improving Trading Performance

Key Performance Metrics

Strategy Scorecard

Performance Challenges

Analytical Challenges

Know Your Trading Personality

Targeting Total Returns

Chapter 11: Algorithmic Approaches for Binary Option Trading

What is Algorithmic Trading?

Advantages and Disadvantages of Automated Trading

Developing a Trading System

Evolving Your Approach

Conclusion: The Future of Binary Option Trading

Appendix A: Test Your Knowledge

Appendix B: More Training Tools and Tests

Appendix C: Nadex Contract Specifications

Appendix D: Examples of Cycles in Binary Option Underlying Markets

About the Author

Index

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