Strategy 15 min timeframes
Binary options differ from Forex in that there is no need to set stop-loss and take-profit levels, and the duration of the trade is always fixed and equal to the expiration time. The main task of the trader is to correctly predict the direction of the price at the expiration time: whether the price will be higher or lower than the current position. If an increase in price is expected, a Call option is purchased, and if a decrease is expected, a Put option is purchased.
Thanks to this simplicity, a trader can execute up to 10-15 trades per day, trading only on one currency pair. Moreover, they are not required to constantly monitor the charts and be in front of the computer. It is enough to analyze the market every 3-4 hours for 20-30 minutes. The web platforms of most binary options brokers are adapted for mobile devices, so trading can be conducted from anywhere with internet access.
The principle of trading on a 15-minute chart (M15) in binary options is similar to trading in the Forex market. As an additional tool for signal filtering, it is recommended to use the hourly timeframe.
The main difference lies in the need to set the expiration time. When trading on M15, it is recommended to set the expiration time of the trade to 3-5 candles. However, this is not a mandatory condition, as there are trading strategies where trading is conducted with expiration in just one candle.