Are you currently trading in binary options, or are you perhaps investigating the possibility of trading in binary options? Are you a “newbie” trader or an experienced trader? Did you know that one of the most basic tools of the trade is a reliable source of Binary Options News?
Wherever you are on your binary options trading journey, there are many different elements to consider when trading on the global financial markets. Most of these elements are not in the scope of this content, however, the element that is pertinent here is that it is vitally important to take into account the latest global political and socio-economic news.
The levels of volatility, or stability, in the markets are largely dependent on what is going on in the world. Brexit, the war in Syria and Iraq, and the election of Donald Trump continue to dominate the news. There is something new every day.
We often forget about local news however, local news is important as well. In my experience it plays a lesser role in influencing the markets than the major global news events, but it does play a role. The question that we need to ask is how is today’s news going to influence the market?
How Binary Options News affects trading on the financial markets
A typical example of how today’s news affects the market is an article in the British newspaper The Telegraph by Tim Wallace, stating that “the US dollar has jumped to its highest level in 14 years as markets anticipate an enormous spending spree by incoming President Donald Trump, which should boost the economy in the short-term.” If you are trading in Forex, this will either be good news or bad news for you. If you read the markets correctly and anticipated that the USD would rise, then you are “in the money.” Conversely, if your prediction was that the forex markets would continue to perceive that the USD would continue to drop against other major currencies, then you are “out of the money.” All of this is a part of what we refer to as Binary Options News and in order to mitigate these potential types of losses, it is vitally important to keep an eye on the global Binary Options News while planning your trading strategy.
Keeping up to date: Global Binary Options News
The example above is a typical example of how the daily news affects the global financial markets. How do you keep up to date with the latest news? There is a glut of information available on the internet today. It is virtually impossible to read everything that is available. In order to solve this problem, most people use RSS (Rich Site Summary) news feeds to filter out the news that they are not interested in. This doesn’t help get at a source for top quality Binary Options News though.
What about market-related news?
Possibly the best way to keep up to date with the latest market-related Binary Options News is to subscribe to Stern Options’ daily market review video as well as their YouTube channel. Their daily market review video sums up all the important financial news that might affect the financial markets for the next 24 hours. In order to place successful trades it is prudent to take note of these news items when planning your day’s trading.
Keeping up to date: Geo-location news
Stern Options offers the opportunity to trade on a currency pair USD/ZAR. This combination is a perfect example of how you must pay attention to the news from both the countries that are represented by the currency pair. The United States (USD) is a world power so she is always in the news. South Africa (ZAR) is a third world country on the African continent; therefore news doesn’t always filter onto the global stage. It is important to subscribe to a news feed that returns South African news should you wish to trade on this currency pair.
Support during trying times
The challenge with the current global political, financial, and socio-economic climate is that it is very volatile or unstable, which then, in turn, impacts on the world’s financial markets. This makes it extremely difficult to plan your trading. Fortunately, Stern Options offers world-class customer support staffed by financial analysts who are able to help you interpret the market in these challenging times. Their online trading platform contains state of the art analytical and risk management tools as part of their holistic binary options trading package. These tools are designed to help you analyse and interpret the market as well as manage the risk of losing your hard-earned cash.
Fortunately, or unfortunately, global political and socio-economic events will always impact on the stability of financial markets. It is still possible to trade successfully in these trying times. You just need to ensure that you have researched the underlying asset thoroughly, and utilize the risk management tools available to you when making trades.