There are a lot of products for you to choose in IQ Option. However, not many products are profitable. In this article, we will introduce you to some trading products that are the most potential for earning money.
Choose profitable products (pair of currency) in options trading
When trading options in IQ Option, there are 2 tabs for you to choose: (i) Binary and (ii) Digital. Most of the traders will choose Binary to trade because the products in this tab are more profitable.
Balancing profit in IQ Option is very important. It affects the amount in your account. For example, if winning probability is 60%, you will win 6 out of every 10 trades you make. If IQ Option pays you 60% of the investment for every won option, in the end you may still lose your money.
To make it more clearly, you invest 10$ in each trade for 10 options. You may make 36$ with 6 options. But you may also lose 40$ in just 4 options later, which means you lose 4$ in the end.
However, if the payout ratio is 70%, you have the opportunity to earn profit at the end of the day with 60% winning probability. If you invest 10$ in each trade for 10 options, you may earn 2$ in the end.
Conclusion: The higher payout ratio IQ Option offers, the more possibility you can earn a profit.
The fewer products you trade, the more profit you make
Trading options is a typical game of probability. There’s no way you can get a 100% probability of winning. You can only find a strategy that gives you the highest probability to win. Therefore, the more choices you have, the more reasons you want to open options. And it is easy to lose money in this case.
Another key to succeed in IQ Option is the ability to focus. When you have a lot of choices, you cannot focus and your strategy is no longer effective.
Conclusion: You should only trade 3 pairs of currency at most. You will concentrate better with only 3 choices and give better decisions in trading.
Choose popular pairs of currency
You should choose popular pairs of currency to trade, such as EUR; USD; AUD; JPY, etc. These are widely-used types of currency in the world. The price movement of those products is so obvious that you can spot trends and candlestick patterns for tradings.
If you choose unpopular currencies, price movement is often neutral and difficult to buy an option. Therefore, the probability of loss is high.
Choosing a suitable pair of currency for each trading time
Situation control is an important skill to ensure your success in IQ Option. Therefore, besides choosing profitable trading products, you have to know the profitable time to trade.
A good time to trade is when you can fully focus on one market. Experience of professional traders is avoiding dramatic fluctuation time (when there’s a lot of news affects your trading products). That is the time when price movement does not follow any pattern and price action is unpredictable. You may lose in every option you trade.
If you trade AUD and JPY in the Asian time zone, you will see price movement rises and falls dramatically. The same situation happens when you trade EUR in the European time zone.
Conclusion: There are two time zones that you can focus: 9 am – 11 am and 3 pm – 5 pm. When trading, just choose the pairs of currency that are not affected by market news. For example, in Asian time zone, you should trade EUR/USD and in European time zone, you should trade USD/JPY.
Recommendation for trading products in IQ Option
In all of my articles, I only mention 3 pairs of currency: EUR/USD, USD/JPY và AUD/USD. My trading time is from Monday to Friday, from morning until the afternoon in Vietnamese time (UTC +7).
At the same time, I only trade in profitable periods when the payout ratio rises to 70%. It is how I protect my account.
Leave your thought about this article and we will discuss together to improve our trading strategies.