Guide to selecting the financial instrument that will get you the most profit on IQ Option
With options trading, you get a fixed return. So why not choose to trade the assets that will bring in the highest returns? Choosing an asset is one of the crucial tasks you'll have to undertake if you're to become a successful trader.
Why? You need returns that even if you have incurred losses, a few wins will cover those losses and even possibly leave you with some profit. In this guide, I'll teach you the steps you should take when selecting the financial instrument that will give you the most profit on IQ Option.
Your objective should be currency pairs that have a return of 80% or more
trade currency pairs for options trading on IQ Option
Start by clicking on asset (+ sign at the top of your interface). Next, select options and then binary. This will produce a list of the available currency pairs you can trade. 1 minute trades provide higher returns. But I recommend you focus on 5 minute plus trades that still offer 80% returns or more.
Your main objective when trading options is to minimize the losing trades and increase the winning trades. And thus your profitability. However, there are times when losers exceed the winners. If you'd chosen instruments with low percentage returns, it would have meant that your cumulative losses would have been greater than if you'd have traded instruments with higher payouts.
Another thing to note is timing. The return percentage on IQ Option for a particular currency pair varies with time. For example, you might find the EUR/USD pair having a return of 78% during the early trading hours. This might rise to 82% a few hours later.
Beginner traders should stick to a single currency pair on IQ Option
Successful traders are patient. They always wait for the right time to trade a particular asset. This is a skill every beginner trader should develop. The best way to do this is to initially trade one currency pair.
This means you'll have to patiently wait until the return is favorable. It also means you'll need to continuously study the pairs' price movements and behavior. In doing all these, you're increasing your chances of making money trading options.
Beginner traders should focus on a single currency pair only
Trying to trade many instruments simultaneously scatters your concentration. Loss of concentration is one of the easiest ways to lose money as a trader. Trading a single asset at a time on the other hand allows you to fully focus on that market.
Trading weekends on IQ Option
Most markets will close over the weekends. Only cryptocurrencies and Over The Counter (OTC) assets are available for trading. These offer lower returns and longer trade sessions. My advice is to avoid trading on weekends completely.
Use these two days to go over your previous week's trading and find out what you did right. What assets do you trade on IQ Option and what returns do you aim for. Share your thoughts in the comments section below.
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