As a binary options trader, you will no doubt be frequently searching for ways to save time while trading. One of the methods commonly used by expert traders is to pair underlying assets with the trade types most commonly used along with them. This does not mean that these pairings will be the only possibility, but instead that certain asset and trade types work well together more often than not and are an excellent place to start when searching for opportunities.
Nearly all binary option trade types are built to either work better with stable asset price performance or volatile asset price performance. With this being the case, consider simply sorting underlying assets into one of these two categories. For example, the USD/EUR currency pair tends to be volatile the majority of the time and could therefore be paired with the correct trade type such as basic binary or one touch.
The pairing of underlying asset and trade types should be done with some consideration of the trade types made available from your binary options broker in mind. Most brokers offer at least three trade types, while others may offer four or more. Should your broker not provide a solid variety of trade types, consider adding an additional broker to the mix. There is absolutely no reason to not partner with more than one broker should you feel the need to.
Of course there will be underlying assets which do not always exhibit the same type of price performance. Note that current events and financial market news can quickly cause even the most stable asset price to become erratic. Pairing can be a powerful shortcut, but never ignore market news as doing so could be a major mistake. You may also want to note which underlying assets are most frequently reported on. Stocks are a prime example, as not a day goes by during which stocks are not front and center in the financial news world.
Over time, the ability to pair specific underlying assets with specific types of binary option trades will become second nature. Until then, consider taking notes in regard to which trade types and assets bring you the highest amount of success and profits. Tracking is something that is always advised anyway. This would be just a small, extra step which can greatly cut down on the time it takes to select specific trade setups each day.
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