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Silver as an underlying asset in binary options trading is often used by traders to dilute their investment portfolio.
In binary trading, you can use a huge number of underlying assets, however, many of them are often ignored by traders. In this context, we mean metals and their bright representative - silver.
How to trade silver online?
In financial markets, precious metals are most often used by stock market players as an asset to save their investments and mainly in difficult market situations. But silver has a fairly wide use in industry, so it is in steady demand.
That is why, its use as a means of accumulation will not be effective, because it has great value precisely as a raw material, and not as a place for financial savings.
However, during the development of the crisis in the global economy, production on the global silver market is falling, which is why a steady downward trend can be observed for several years. Here is a change in price can be observed for a year and a half:
However, in recent years, silver has been gaining popularity as the underlying asset for binary trading, and there are simple reasons for this.
- Firstly, silver as a trading asset can be found on all binary options trading platforms. For example, at the terminal this broker, silver is established as one of the main assets of binary trading:
Yes, and the profitability of options on this asset at the broker can be called quite high - 65%.
Given the minimum contract value of only $5, this asset’s liquidity can be considered sufficient to quickly increase your capital, even trading with a minimum deposit value of $100:
- Secondly, during the trading fluctuations of silver, its quotes have a small volatility, so you can choose an average pace for option trading.
Thus, it is possible not only to increase the efficiency of the forecast, but also to significantly reduce trading risks, and hence increase the effectiveness of binary trading.
Trading binary options using the silver asset is the most effective using indicator strategies.
At the same time, there is no need to look for strategies with many working indicators, because several trend indicators or even one will be enough for performance.
Here is an example of a simple trading system that demonstrates very high performance on the specified underlying asset. This strategy is based on the classic way to use the RSI indicator:
Fluctuations in silver quotes, as you can see, are quite predictable. At the same time, the indicator itself quite accurately predicts the upcoming change in the direction of price movement.
Signals for opening trades
Transactions UP binary options occurs after the indicator mewing makes a reversal in the oversold zone (under level 20).
And for deals WAY DOWN binary options, it is necessary that the RSI MA reverses in the overbought zone (above the level of 80).
These are the simple signals from this indicator, which can be worked out with transactions with an expiration of 5 minutes, at a measured pace, you can get a good profit with little financial risk.
In addition, with this asset, you can make great money using the tactics of news trading, in which transactions are made on the basis of macroeconomic data.
Positive macroeconomic statistics lead to an increase in the cost of silver, and negative - to a fall.
Another factor affecting the price of silver is the price of gold. This means that silver can be perfectly used for hedging when trading gold, or as a tool for diversifying risks in trading.
Objectively evaluating silver as a basic asset in binary options trading, we can definitely say that it will be the best option for beginners in binary trading.
In this regard, it will be easier for a beginner to track any market changes, test their own trading tactics, and, of course, improve their binary trading skills without losing a lot of money.