How to select an asset in derivatives trading on Binomo
You open the Binomo account, you log in to it and get access to the platform. On top, just right to Binomo name, you will see a plus. After you click on it the list of available assets will expand. Next to each instrument, there is information about the payout. It will be different depending on the length of the position you are going to open. This will allow you to estimate a potential profit you can earn.
Payout rates for derivatives on Binomo
Payout rates are not fixed. They change according to the situation and activity in the market. But you should not have a problem with finding an instrument with a potential payout rate that exceeds 80%. And this is what you should aim at. 80% and higher payouts are good, provided you are aware of the associated risks.
How to open a position on Binomo
You will need to fill a few fields. The first thing is the amount you are ready to invest in this particular trade. You can choose one available on the left side, use plus/minus buttons or simply write it down.
Then you set the expiration time. Similarly, you can choose the time from the automatic suggestions or use plus/minus keys.
The last thing is to decide whether you buy or sell. This should be preceded by a profound analysis of the market. Once you are pretty sure your assumptions are correct, hit the corresponding button. Press the green arrow when you believe that the price will go up, and the red one when you think that the price will go down.
After you open a position you can monitor your current trade and review all your past trades by clicking the clock icon in the top right corner of the Binomo platform.
Fixed expiry time derivatives are constantly gaining popularity. Their simplicity attracts new traders. Remember to be considerate. Always do some research and practice on the free Binomo demo account. It is the best place to check how financial derivatives s suit you without risking your funds.
Good luck!