STRATEGY 5 of binary options. Bonuses In Trading Binary Options. Methods of Winning Back
A lot of brokers offer bonuses to their traders. These bonuses amount to 10% to 100%, and even more. On the Internet, I have seen a lot of comments saying that bonuses are a bad thing. From my own experience, I can say that bonuses are quite the opposite. Below you can see a screen shot of my personal OptionBit cabinet showing amounts of bonuses I have received from this broker.
As you see from the table, I have received 4 bonuses. We will not consider the bonus amounting to 4,529.00 rubles: I was given to me for 7 consecutive successful trades and I didn’t have to win it back. However, I had to win back the other three bonuses. The amount you have to win back is a bonus amount multiplied by 15. I managed to win them back, which helped me make 428,000 rubles.
I think that this is the matter of human psychology: I asked for bonuses only when I had no my own money left on my trading account. I knew that the bonus I was granted is the only money I’ve got, so I managed it carefully. I will explain below what „carefully” means.
Let’s start with a definition.
Bonus is not the money that you get as a gift. This is some kind of support or a tool that helps the trader survive in a difficult situation and gives them a chance to continue trading, cover losses from previous trades and make profits. After the bonus has been won back, you can use it again in the future or withdraw the profit you’ve earned. Once you’ve placed a withdrawal request, the bonus is cancelled.
At Optionbit platform, I had no difficulty winning back my bonuses, because I bought 30-minute or 1-hour options. For these options, you can use such functions as Close Now or Extend. I used Close Now function most.
Close Now – allows to cancel an option before it is due.
Here you can see how this function works.
E.g., you bought a call 1-hour (ABOVE) option for EUR/USD currency pair. In 10 minutes, you have an opportunity to cancel your option, and if the price is moving as you expected you can make a profit.
Information on your potential profit is constantly updating depending on correctness of your prediction. The longer your prediction is true, the larger will be the amount of potential profit in case of pre-term option cancellation.
However, there is a possibility of the rate going down. So if after a short-term rise the price will start falling, you may close the trade with a small loss.
For this reason, it is better to close the trade with a small profit or no profit at all.
Note that the option can be cancelled not later than 10 minutes till it’s due.
If I see that my prediction for a 1-hour option is correct and the price has been moving in the predicted direction for 50 minutes after the option was bought, I don’t use Close Now function, as it’s highly probable to get 81% profit.
My advice is to monitor the price carefully in order to close the option as soon as the situation has changed.
Remember that you have less than 10 minutes till the option is due and if the price makes an unexpected swing, you won’t be able to use Close Now function. In this case you will have to use other strategies to save your money (Catching a Trend, Martingale Method, Trade Signals).
Extend function allows to extend validity period of the option for a certain amount of money. If your prediction turns out to be false, you can extend validity period of your option and increase your chances of getting a profit.
I have not tried this function, because it seems quite expensive for me. It makes sense to use it if you are sure that your prediction is correct and you have large amount of money on stake.
In the Remaining graph in your personal cabinet, you can see what amount you have won back.
I have had some situations when I was so tired of trying to win back a bonus that I was ready to lose 19%. E.g., I have 100,000 rubles on my account, including a 50,000 bonus. Remaining graph shows 40,000 rubles. In this case, I enter my personal cabinet on a Saturday when there is no trading and all prices (rates) stand at the same level. I buy two 20,000-ruble options with the same periods of validity but for different directions – ABOVE and BELOW. On Monday, two of my trades work: the first brings me 81% profit (16,200 rubles) and the other brings a 20,000-rubles loss. Thus, I have lost just 3,800 rubles.
As a result, the bonus has been won back and you can withdraw the earned money.
Note that on working days you can’t buy opposite options at the same time: the system says that option must be bought with certain time apart. As you know, the price can change its direction in several seconds or even faster.
Below there are several VIDEOS which will give you answers to some questions concerning OptionBit platform:
How I Make Profit at OptionBit My profit increased to 433,000 rubles!