Binary Options trading is all about staying ahead of the market trends, learning the strategies and improvising accordingly. Whether it is about reading the signals or devising your own strategy, everyone (even the most experienced ones) would need some outside input about the trading strategy every now and then. Such guidance may be sought from other traders but so far, I haven’t found anything better than a good ‘read’ (on any topic)!
Top 3 Books in Binary Options
While I rely mostly on binary options signals and software to grow my trading accounts, I still see the benefits of reading. Having a better understanding of the market, can be the difference between winning and losing a trade in very short order.
Books are not only enriched with practical information, but they serve to widen our perspective as well. So, with the goal of presenting some of the most helpful books on binary options trade, here are some that I endorse.
1. Binary Options Unmasked by Anna Coulling:
If you are among those who are still testing the waters and have not yet decided whether they want to step in the binary options trade or not, this is the perfect book. It gives your explorative nature the right direction by addressing to the very question that often revolves around your imagination; i.e. “should I go for binary options trading? Is it the perfect field for me?”. This simplistic question may appear innocent at first however, with a saturation of information in the market, it becomes nearly impossible to sift right from wrong. Therefore, when newbie traders set out to find answers for themselves, they may not be able to understand the risks that this trade (every trade has some risks) holds.
Anna Coulling approaches this problem with a very open yet critical minded approach and does a great job at offering an unbiased view of pros and cons around the binary options trade market. The book also offers invaluable advice on how to navigate around the market trends and outlines some fundamental trading tactics. After reading this book, you would be confidently aware of the basics of binary options and would understand the presence of potential scammers in the market that merely try to lure a customer for the money. All in all, this book can be crowned as a great knowledge bank for beginners.
2. Binary Options: Fixed Odds Financial Bets by Hamish Raw
It would be safe to say that this book is as old as the binary options trade itself and, to date, is regarded as one of the best knowledge banks of how the mechanics of binary trade work. The best aspect of this book is that the author takes a great interest in the simplicity of binary trade options. Theoretically, according to the author, binary options offer a smart way to apply the market knowledge in an environment with seemingly limited risk factors. After establishing this perspective as a starting point, the author then builds on the argument around it; by exploring a range of bets that one can place, role of volatility and price towards value of a bet and importance of time. Now, this book doesn’t dismiss the fact that binary options trades are a gamble. However, after reading this book you get a refreshing perspective in a very contextually rich language with a simplistic style of writing. It wouldn’t be wrong to say that Hamish Raw did a great job in making mechanics of financial instruments and binary trade, a fun topic.
3. Candlestick Charting for Dummies by Russell Rhoads
You can’t help but fall in love with this series “…for Dummies” because they always come up with a logical, to-the-point and quick snapshot of any complex topic and are a great getting started manual. The best things about this book is that it breaks down complicated chunks of information into bite-sized packets that take the overwhelm out of the whole thing. If you are a newbie binary options trader or are trying to learn how to become a pro, this book can be a very good starting point. It has a lot of diagrams to explain relevant content and they use various examples to ensure that their readers are really grasping the underlying concepts.
Fortunately, this series holds various titles for the binary options trader, such as ‘Technical Analysis for Dummies’ etc. This particular book, ‘Candlestick Charting for Dummies’ is focusing specifically on candlestick charting. It is a good book for those who are struggling to get a firm understanding of this area of binary trade. As a binary trader, you would acknowledge that Candlesticks are undoubtedly loaded with information. Now, this overdose of information can become easily disorienting and may confound your success; or you may use it to your advantage by identifying trends.
In essence, candlesticks equip traders with details of closing-or-opening prices, the ups and downs, overall range. So, candlesticks are valuable and to understand them appropriately this “…for Dummies” series on candlestick charting is the book to go for. This guidebook walks you through the chart construction process and trains you to interpret them. It also enables you to identify bearish and bullish markets, or how to steer clear of false signals and how to use candlestick charts with other indicators and make an educated prediction.
So, which one of the above three of our top picks would you be skimming through this week? Or are there other books on binary options trade secrets that you simply adore? Share with us in the comments below.
Binary Options Books 2020
Trading binary options can only be profitable if you pay a lot of attention to educating yourself about the market. Yes, we live in the era of tablets, phones and all sorts of smart gadgets. But when it comes to binary options trading, none of these pieces of technology will ever replace the good old way of studying by picking up a binary options book to read. Many of the trading topics covered by these books are still relevant today. Reading and studying binary options books is one way to enhance your knowledge of the markets. Traders who have actually studied the market structure and all that is contained within this structure actually come to the market front better prepared than those who did not.
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We can better understand this by taking a cue from the military. Before any mission is undertaken, a missions briefing is done. That way, soldiers are very clear of the mission objectives and how they can be attained. It is the same thing with binary options. The information from educational resources are like the briefing notes. With them, you can determine your strategic objectives in the binary options market and set about achieving them. Arming one’s self with information obtained from binary options books is a step towards achieving trading proficiency.
What Kind of Binary Options Books Should You Read?
It is now wise to simply spend money buying every binary options book that there is. In school, every course has a curriculum. In binary options, there should also be a structure to the learning process, and this should form the newbie trader’s curriculum. Components of this curriculum should be arranged in such a way that the basics are covered first, before advanced topics are treated.
a) The Basics
The trader must be ready to cover the basics of the trading process. The basics will include an overview of how trading binary options is done. Introduction to topics such as regulation, the various trading platform types available, the software, the trading process, etc, are things that come under basic knowledge. By the time a trader is done with the basics, he or she is expected to have gained knowledge on how to navigate around the platform as well as understood the basic market lingo. The trader should be able to know what an asset-or-nothing option means. At this stage, the trader should aim to know the various option types such as the Ladder option, Up/Down or High/Low options, and understand the circumstances when each option type is used. Opening of trader accounts and broker selection should be the popular topics treated here. Traders should also know how to operate a demo account and practice with no deposit accounts that offer risk free trades.
b) Intermediate Level
The intermediate level of knowledge assumes that the trader has had a grasp of the market basics discussed earlier. At this stage, the trader should get introduced into more complex topics such as trading with binary options news. This is also where the concept of automated trading with robots should be introduced.
Trading strategies as well as the psychology of trading, are topics which should come under advanced level content. However, what you tend to see in many websites and online/offline resources as well as seminar teachings is a situation where trading strategies are taught first without allowing the trader to understand where he or she will be putting these strategies to work. The US military would never place an airman who is only one week on the job in the cockpit of one of the billion-dollar stealth bombers. Why? It is just so simple: the lack of experience of such a green horn will lead to the loss of the most expensive military plane in history. The same thing goes for binary options. You don’t go teaching strategies to new traders who are not even familiar with things as basic as making distinctions between a line chart and a candlestick chart. Stuff like this should only be introduced to the trader after the basics have been covered.
Now that the various knowledge levels for binary options education is known, it is time to introduce the binary options books that every basic level and intermediate level trader should read.
Books on Binary Options
We now explore some of the books binary options traders must read and become acquainted with before they start trading real money. These books cover the various levels of information that binary options traders require.
Book 1: Trading Binary Options: Strategies and Tactics
This book by Abe Cofnas can be called the bible of binary options trading. Written from a mostly American-style binary options standpoint, this is one book binary options newbies simply must read. This book covers a lot of market basics, intermediate level binary options topics as well as advanced topics. Any new trader who is looking for a binary options book that serves as a one-stop shop for binary options education at all levels, should get this book. For a price of about $48 for used versions and as much as $113 for new, hardcover versions, this binary options book is pricey, but certainly worth every dime.
Book 2: The Binary Options Book Of Knowledge: Everything I Wish I Had Known Before I Started
Written by Christopher D. Carlson and released in 2020, this is a book binary options beginners should read. This book will enable them understand how to break away from the damaging misconceptions that most beginners have about the market. It also helps break the damaging mindsets which beginner traders have about binary options. At $14, it is a good way to get introduced into the market. One of the best ways of learning binary options is to view it from the eyes of those who have been there and done it all. In this book, binary options trader Carlson talks about the missteps he took as a beginner trader. He also takes time to address many of the questions beginners have about binary options.
Book 3: Call or Put: How I Profit Using Binary Options
Released in November 2020, this binary options book is actually an Audible audiobook which was written by Dennis Preston and narrated by Mike Norgaard. It details specifics of how Preston has been able to make money trading forex binary options. Preston started off as a forex trader, and was able to adapt his forex trading success to the equivalent market in binary options. This audiobook goes for $19.99. You don’t have $19.99? No problem. This audio book can actually be accessed for free if the reader undertakes a 30-day free trial of the Audible app.
Book 4: Binary Trading Strategies: Learn Binary Options Profit Making Strategies
For those who are stuck on getting more information about the latest binary options strategies, this is finally the book for you. This binary options book was written by Wayne Walker and was released into the market in May 2020. This makes it one of the latest books on strategies out there. The financial markets are highly dynamic. You need something that works now, not something that worked way back in 2020. Therefore, any intermediate level binary options trader that wants to trade the latest Up/Down asset or nothing strategies should get this book. It costs just $7.99, making it very affordable too.
Q: I am at a loss as to where to buy the latest binary options books. Where can I get them?
Answer: A lot of binary options books are available on Amazon.com. Some binary options brokers also offer ebooks as giveaway products.
Q: Amazon does not ship to my country. What alternatives do I have?
There are companies which help international users to buy books and other stuff from Amazon, and have them shipped to their own countries. Examples are Bongo and MyUS. Search online for more companies.
Q: Should I read binary options books alone as a source of my binary options education?
Answer: A complete binary options education entails reading binary options books, studying resource materials, reading articles on binary options from authoritative sources and self-study of your past trades to see where errors were made.
Where to Get the Latest Books on Binary Options
The best source for buying your binary options books is Amazon. There are many new titles there. The best part is that you can buy new and used versions, as well as buy versions that are optimized for the Kindle device. This gives you a lot of options when deciding the format you want to acquire for yourself.
Binary options books are there to educate and inform you. Grab your copies of the binary options books listed above and get yourself empowered to tackle the market.
What are the best books or courses to learn binary options or forex?
A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.
Top Binary Options Online Courses:
Binary options are deceptively simple to understand, making them a popular choice for low-skilled traders. The most commonly traded instrument is a high-low or fixed-return option that provides access to stocks, i.
The 8 Best Books on Options Trading of 2020
Brush up on this high-risk investment strategy
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If you’re looking to branch out a little in your portfolio beyond stocks, bonds, and mutual funds, options trading is something you might consider. Trading options is an alternative investment strategy that focuses on adding contracts to buy or sell a particular security to your portfolio, rather than investing in the underlying security itself. You can realize gains (or losses) when exercising options.
Options trading can be risky but also lucrative for investors who understand how it works and how to do it effectively in the market. If you’re a beginner where options trading is concerned, a good place to start is with learning the basics. If you’ve been trading options for a while, on the other hand, you may be ready to explore more advanced techniques for investing in options. Or, you could be in the middle between being an options novice and an expert.
Wherever you are with options trading, these books are the best you can read on the subject.
Top 7 Forex/Binary options books that every trader should know
There are hundreds of books about trading, some of them focus on technical analysis or on specific indicators and some of them on psychology. It is very hard to determine which books about trading are the best and definitely worth reading. That’s why we came up with the following list of the most comprehensive educational materials for you to read. The books are usually sold in two versions, in electronic form and in a regular hardcover. The main difference in them is simply just price because very often you are able to get electronic books for 1/2 the price of a regular hardcover.
How I made one million dollars last year trading commodities
Author: Larry Williams Hardcover: 130 pages Price of hardcover: $36.42 – Amazon
One of the most famous stock trader, Larry Wiliam, describes his astonishing journey how he managed to transform 10 000 $ into a little bit over one million dollars in a one year time. He is recognised as the only trader who was ever able to increase his initial capital by more than 10 000% in a one year in Robbins World Cup Trading Championships. Many traders regarded this success as a cheat, but a few years later Larry proved them that his trading is no coincidence when he again turned 10 000 USD into 1,1 million of dollars (This year of trading is more described in the book “Long-term secrets to short-term”). In the book How I made one million dollars last year trading commodities accurately describes what methods and strategies, he used for trading practically all commodities. The book is very illustrative and it provides specific trading tips so it reads itself, especially with all those motivational “speeches”.
Long-Term Secrets to Short-Term Trading
Author: Larry Williams Hardcover: 272 pages Price of hardcover: $54.19 – Amazon
The second book which I highly recommend to all traders is also from a collection of Larry Wiliams. In this book, he focuses on 11 months of trading which he spent at Robbins World Cup Trading Championships. In this period of time, he managed to surpass his previous successes and he multiplied his initial deposit by 11 376 % to a 1,1 million of dollars. About his achievements which he accomplished by using position techniques, we could read in the book mentioned above (How I made one million dollars last year trading commodities). But as you may read in this book he dropped from this strategy and he started to trade as a swing trader. He remained in his position only for a couple of days (usually 1 to 5 days) and he especially focused on trading index market S&P and stock market US T-Bonds. Methods which he had been using are described in a very simple and understandable way, that’s also one of the reasons why are his strategies used by thousands of traders around the globe.
Author: Joe Ross Hardcover: 329 pages Price of hardcover: $150 – Amazon
For traders who focus on day trading, this book is in my opinion, a mandatory reading. The author of this book is a living legend – Joe Rosse. In the book day trading Ross will teach you how to identify a trend before it even occurs on the market and before other traders notice it as well. He will also guide you thru his complex forex method which focuses on piercing densified areas, this technique can be applied to any market.
The Intelligent Investor
Author: Benjamin Graham #1 Best Seller in: Business Finance Price of hardcover: $12.89 – Amazon
Another very well known book in the world of trading is called the intelligent investor. One of the most famous and richest people of planet Warren E. Buffett consider this book as far as the best book which was even written about investing. The book comprehensively explains the most important principles of long term trading. As you may know, Warren Buffett is very well known for this trading style. Buying undervalued stocks, holding them for as long as possible and then again selling them with a huge profit.
Trading for a Living: Psychology, Trading Tactics, Money Management
Author: Alexandr Elder Price of hardcover: 21.95 – new, 13.05 used
The author of this book, Alexander Elder, covers in this book all aspect with which day trader has to count if he decides to make his trading more than just a hobby but as a day job. As with any other major life changes, we have to be sure what we are getting ourselves up to and we have to know whether we are capable of adapting to a different financial situation. Alexander Elder is an excellent writer and he describes the psychology of a successful trader as well as an unsuccessful trader in great details.
Trading Binary Options for Fun and Profit
Author: José Manuel Moreira Batista Price of hardcover: $28.34 – Amazon Kindle: $6.04 – Amazon
In comparison to other books provided in this list, this one focuses just on problematics of binary options and their trading. Trading binary options for fun and profit offers information from Money Management to creating your own profitable strategies. The beginning of the book describes the basic information about what binary options are, they are meant for people who never came across with binary options. You can freely skip those at your discretion.
Trading in the Zone
Author: Mark Douglas Price of hardcover: $21.73 – Amazon
Mark Douglas is an author of two very famous books in the world of trading, the first one is called disciplined trader and the second one trading in the zone. Both books are definitely worth reading, but personally, I like the second one more. In this book, Douglas thoroughly describes that trading is just a game of probabilities in which we try to find a spot where the likelihood is on our side. Once you read this book you will understand techniques that are being used by responsible traders who know what are their risks and their probabilities of winning a position.
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