Even though trading periods can last for hours in binary trading, it still belongs to the group of short-term trading. All trades are usually supposed to end when the trading day expires, and time frames can go from as short as 30 seconds, to as long as the whole day. In this article, we will focus on 10 minute trades, their characteristics and how you can benefit from them.
How do they work?
With 10 minute binary options, there is an expiration time which lasts this long for every trade. It means that, from the moment the trade is open for buyers, you have 10 minutes to call or put an option. This is one of the most common expiration times binary traders choose for their options, so it is easily found on many platforms and it is available for all sorts of options.
Benefits of 10 minute options
10 minute options have a wide range of benefits in comparison with those with longer and shorter expiry times. First of all, they are very easy to find. For example, 30 and 60 second options are still not offered by all brokers. On the other hand, if you want to trade 10 minute options, you can choose whichever broker you like. What’s more, you can even trade them if you subscribe for a binary robot, like Qbits MegaProfit.
Next, they are available for all assets offered on binary trading platforms, as well as for different types of options. You can trade traditional Cal/Put options with 10 minutes expiry time, but you can also do it with, for example, Tunnel options. Together with availability on all brokers’ platforms, this makes 10 minute options widely available and easy to find.
10 minute options are considered to be short-term options. However, they are between extremely short 30 and 60 second options, and those that have longer expiry periods. This means that they are not too fast-paced, so even the traders with no excessive trading experience can trade them. On the other hand, they last short enough that you can make more trades during a day and gain more profit.
Who can use 10 minute options
10 minute options are a golden mean between the shortest and the longest options. Because of this, you do not have to be a trading master to trade them. However, no kind of short-term options is suitable for complete beginners. If you have just started trading, you should go for binary options with longer expiry times, before you master the trading skills and become fast enough and accurate in your predictions.
If you want to trade 10 minute options, you need to know at least the basics of technical analysis and other techniques for analyzing the market. Since the changes can seem rather dramatic over such a short period,you need to know how to read the charts and make correct predictions,
so more of your trades end in the money. If you are just switching to this type of binary options, we recommend that you try it out on free demo account first, and then start real trading with 10 minute options.