This website is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail traders in the EEA.

60 seconds or “Turbo”

It's time to read the article: 8 minutes
iqoption logo

Trade Binary Options with IQ Option

Trade with popular assets such as Tesla, Google, Amazon, EUR/USD, and 66 more with profitability of up to 95% in just 60 seconds

Open a free demo account

60-second binary options, also known as “turbo”, are incredibly popular with newbies. In fact, they always start with them. Why wait when you can almost double your profit in such a ridiculously short time?

You are not yet registered on IQ Option? Register now and get a free rotating demo account with $10,000 virtual funds with real-time quotes.

Tell you what. Let’s ask 6 experienced Western binary options traders (I’ve translated their answers) what they think about these short-term options. Then I’ll add my personal opinion and you can draw your own conclusions.

60 seconds: Opinion 1

I have a trader friend who loves binary options. He’s been working with it for a long time and has a complete picture of how things are with binaries.

So I asked him: “What’s in these 60-second options?”

The answer is simple: if you spend enough time studying technical analysis, special 60-second trading strategies (scalping), looking at the chart every minute, you can achieve a certain level of technical intuition, which allows you to get good results.

It will take a lot of time, money and effort, but an experienced trader can work with turbo. The key word here is experienced.

Newbies often brag about their quick success with turbo trading

If this tool is used by a beginner, there is a good chance that he will run out of money quickly. After all, he’s only looking for how to “win” with binaries, he’s Googling “the best strategies for 60 seconds”. Meanwhile, binary is a system in which some people profit and others don’t. And all those citizens who chose 60 seconds simply put their money in the pocket of the broker and the professionals.

That’s life. You or me. The binary reflects this principle well.

Ad ADS | Trade Binary Options with IQ Option. Open a free demo account

Unfortunately, in 60 seconds it is extremely difficult to draw the line between trading and gambling. Both activities are very similar. Probability plays against us and the markets tend to contradict our predictions all the time.

Therefore, outsiders often look at it as a game of luck or chance. Like, a bunch of speculators get together and play with numbers, on binary platforms or in normal trades.

So what do you call people who like 60-second options? Are they traders? Or gamblers? The question is debatable. The professional consciously chooses this tool. They are aware of its power and understand what they are getting in return.

For most ordinary traders, 60 seconds is a thrill and an adrenaline rush. That feeling of pressing the up/down buttons in a hurry in that short period of time is well known to everyone.

60 seconds or "Turbo"

An example of working with 60-second options with equal offers

But is that trading? Unfortunately, not yet. I recommend working with longer expirations. Only use 60 seconds if you clearly understand what you’re doing and have developed a very effective trading strategy for them.

60 seconds: Opinion 2

Let’s divide the turbo options into pros and cons.

Advantages

Trading is stressful and you shouldn’t accumulate stress, but rather reduce it. So people decide to go fishing, play computer games and maybe even play sports.

There are many ways to relieve stress, but I read an interesting study that showed that stress is best relieved by short-term actions. And whose potential outcome is extremely clear.

Maybe that’s how you’ll perceive 60-second options. Not as a trading tool, but as a fun tool for entertainment. Sure, you can work with them, but not as a serious trading method. That’s what I think.

Disadvantages

“Man, I’m going to earn my monthly salary today!”. This is perhaps the way to describe a 60-second options trader. Yes, let’s call them “traders”. Actually, they’re gamblers who want to look like traders – but they’re not.

Let me be real. Sometimes I don’t have time to draw a simple trend line in 60 seconds. I simply can’t normally predict where the price will be in a minute’s time. So what do I do?

60 seconds or "Turbo"

When working with turbos, novices often make a mess of the charts in search of profitable signals

You’re not getting stable results, right? How can you achieve them at such short intervals?

Sometimes turbo traders get lucky, really lucky, and cash in, believing they’ve discovered how to make money on binary options with a profitable strategy. However, I insist – name me one successful trader who has been working steadily with turbo for at least six months? There are some, right? The question is rhetorical, I haven’t met one.

60 seconds: Opinion 3

What people find in 60-second options is understandable. It’s an opportunity to make 70% profit in 1 minute. Of course, adrenaline boils in the blood and fingers tremble with excitement. However, what is the right psychological state for a trader?

Ad ADS | Trade Binary Options with IQ Option. Open a free demo account

Don’t forget – to work in binary options, you need at least 60% of successful trades. The reason is clear – we win from 70% when the option is profitable. However, we lose 100% – the full amount in the event of a mistake.

Therefore, we need to rely not on luck, but on a trading system or strategy that usually guarantees an accurate entry or signal.

However, here’s the thing – with 60-second options, the statistics are extremely negative. Indicators aren’t very useful and the market is extremely fast and chaotic. This is why many scalping strategies simply don’t work in 1 minute.

60 seconds or "Turbo"

Bollinger Bands are a popular indicator for 60 seconds

So are 60-second options just a method of getting excited? Well, not really, because there are still people who work steadily with a short expiry. The strength of the price movement helps with this. For example, let’s say we’ve studied 12 previous candles and their average size is 50 points. If the price starts to indicate 60-70 points, there is an opportunity to take advantage of this.

There are also many advisors for the Metatrader terminal that give signals for short periods. But you’ll have to check the quality of their work. You can do it yourself. Buying a totally effective system is impossible, unfortunately – otherwise we’d all have been rich a long time ago.

So my advice is not to mess around with 60-second options on 1-minute charts, despite all the opportunities for quick money. That’s gambling, not trading. Maintaining a 60% return here is incredibly difficult.

However, if you handle it professionally, you can succeed. Remember – first test the strategy you’re interested in on a demo account and only then work with real money.

60 seconds: Opinion 4

These short-term options are a disaster. Novice traders ask about it, it’s the first thing. Newbies are attracted by the impressive potential profits. And they can’t resist this temptation.

However, it’s worth getting to know more experienced traders – hardly anyone works with 60-second options. The problem is obvious – these options are more unpredictable than the long expiry.

60 seconds or "Turbo"

Newbies often sell outrageously expensive and useless turbo systems

If you look at historical data, you immediately notice that trends are much more stable over longer periods of time. The reason is clear – fundamental factors, not technical levels or volumes. Economic factors are always more important, and that’s what you should focus on first.

For this reason, 60-second options should be considered more like gambling than trading. And nobody is saying that gambling is bad. Not at all. However, there is a huge difference between professional trading and gambling.

Trading requires the utmost experience and competence, but gambling involves probability theory and trivial luck.

On timeframes shorter than 5 minutes, there is little that can be done in terms of predicting price movements. This is, in fact, a lottery with no chance of “pushing” the bar to get the desired result more often than not.

Bear this in mind if quick profits from turbos are a temptation.

60 seconds: Opinion 5

Few people remember their first swimming experience with pleasure. Most of them simply drowned and swallowed a lot of chlorinated water. That’s why most people return to the pool upset, and sometimes even coerced. It takes time to get used to a new environment.

Almost all traders come here with incredibly high expectations. They think that the market will give them everything they need. But over time, they realize that the market is a sea of possibilities, full of storms and hurricanes, sometimes completely unpredictable.

60 seconds or "Turbo"

The channel strategy for turbo options is good – but the channel can stop working at any second.

Conclusion: don’t enter these 60-second options. Yes, sometimes you’ll get lucky, but rest assured that you’ll encounter bad luck much more often. Do you really want to start your trading career based on luck?

First you need to find out what exactly drives the market, what technical and fundamental factors affect it.

And with 60-second options, it happens that a person comes in, full of dreams, quickly loses their money and gives up immediately.

But experienced traders can try 60-second options. But only in market situations where it is highly likely that the price will go in the direction you need. And such situations do occur – for example, on influential news.

60 seconds: Opinion 6

I think 60-second options are a real trap. It’s the fastest way to lose your money, that’s all. These time frames and short expirations are only for people who have extra money and want to get rid of it as quickly as possible.

Even if the market is clearly going up or down, it always happens in waves, making the risks of short-term trades almost fatal.

60 seconds or "Turbo"

Brokers like to advertise turbo options because it’s the main source of money for them.

The minimum expiry I use is 10 or 15 minutes. Not below that. And with 60 seconds, you’ll only make your broker richer.

The only good thing that can be said about these options is their fundamental difference from other expirations. In other words, if you need exactly 1 minute, the broker gives you that opportunity. But you’d better ask yourself why.

Binary Invest opinion

Let me put it this way. You can make money with turbochargers, that’s a fact. There are thousands of traders in the world who earn from scalping on Forex and binary options.

However, this is the key – professional scalping is only available to experts. In Forex, trading robots are used for this. For everyone else, 60-second options are just a way to lose your money.

And not because the 1-minute market is full of such noise. Only partially. Sometimes you can’t tell a 1-minute chart from a monthly chart because the candles and market movement are so similar.

The root cause of the problems with turbo options is that the market is full of emotional noise in our heads.

Turbo options trigger dozens of trades and a beginner can’t control themselves psychologically, they don’t manage their money properly. Therefore, 60 seconds is harmful first and foremost from an emotional point of view.

For professionals, there is no difference. I know a bank broker with 15 years’ experience who, after leaving the banking sector, dealt specifically with 60-second binary options for various Western brokers.

I remember that many readers of his books (he’s quite famous) were shocked, given the current reputation of binary options as gambling.

That’s a classic. While novices do badly with turbos, professionals win with them.

The way a professional works with 60-second options is fundamentally different from the blind novice who just pokes at buttons. For example, a professional can work with turbo options during the London correction, which is unknown to 99.99% of binary options traders and Forex traders too. When I asked how it works, I heard the following:

  • market structure analysis;
  • analysis of the distribution of market liquidity;
  • identification of liquidity demand levels and stop order activation zones;
  • options position management;
  • various technical methods;
  • analysis of the motivation of market participants.

Isn’t that clear to you? But the professional understands. This is what separates the professional from the novice who enters 60-second options and opens trades, in effect, at random.

So professionals in 60-second options can do whatever they want. Beginners need to avoid them. But the opposite is true – turbo is where everyone starts. The results are obviously disappointing.

Don’t bet on it unless you know what you’re doing. That’s the best advice I have. Also on the forum we found several dozen strategies for working with 60-second options. All of them are designed for at least 1-2 months of work each and do not allow you to earn in the “set – I profit” mode. There are simply no guaranteed reliable strategies for turbos.

Avalie o artigo em uma escala de 5 pontos:
0

Ranking da página:

Share:
Ad
IQ Option logo
Sign up

RISK WARNING: INVESTING INVOLVES A HIGH DEGREE OF RISK

Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. Therefore, please be aware that we are not responsible for any losses incurred. All manuals and instructions are entirely free.

Until 2016, I worked as a cook in a small restaurant. I know very well how challenging it is to stand all day and receive a salary that barely covers the needs of a family. I ventured into trading with the goal of earning extra income by trading during my free time. Like most people, I had a difficult start, but fortunately, with a lot of dedication, I reached a point where I could resign from my main job and fully dedicate myself to binary options (with much improved quality of life).

Leave a Comment