Downloading a software program is not required to trade binary options, however, there is binary options software that helps you to find potential trades. Many popular binary options programs provide binary options signals. The best binary options trading software is clean, efficient, and simple for the user to learn. For example the binary matrix pro.

## Binary Options Matrix – Binary Matrix Pro:

Binary options are not necessarily easy to master, but the concept is simple and binary signals can help. Because of how quickly profits increase as a traders winning percentage increases, there is no room for trader to make mistakes if high profits are the goal.

Read the Binary Matrix Pro Review here.

A logical matrix, binary matrix, relation matrix, Boolean matrix, or (0,1) matrix is a matrix (in mathematics) with entries from the Boolean domain B = {0, 1}. Such a matrix can be used to represent a binary relation between a pair of finite sets.

Binary relation: In mathematics, a binary operation on a set is a calculation involving two elements of the set (called operands) and producing another element of the set (more formally, an operation whose arity is two, and whose two domains and one codomain are (subsets of) the same set). Examples include the familiar elementary arithmetic operations of addition, subtraction, multiplication and division. Other examples are readily found in different areas of mathematics, such as vector addition, matrix multiplication and conjugation in groups.

A binary file is a computer file that is not a text file; it may contain any type of data, encoded in binary form for computer storage and processing purposes. When downloading, a completely functional program without any installer is also often called a program binary, or binaries (as opposed to the source code).

In finance, a binary option is a type of option where the payoff is either some fixed amount of some asset or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.

U.S. Government Required Disclaimer – Commodity Futures Trading Commission. Trading financial instruments of any kind including options, futures and securities have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in these markets markets.

Don’t trade binary options with money you can’t afford to lose. Please visit the CFTC for more about binary option risks and fraud.

## Day Trading or Swing Trading with Candlestick Patterns and Pivot Points.

Now I want to introduce you to another valuable lesson using this method of price forecasting. By taking the daily, weekly or monthly numbers you can target a price level and wait for confirmation from a recognized chart pattern. This can help you in taking advantage of the price swings from the market reacting off of those numbers. By having the calculations based on the different time frames, one can use them for day trading or swing trading.

Below in figure 4.5 is the Dow 10 dollar per point futures contract. Here you will see an hourly candlestick chart pattern. I normally use the 60-minute and or a 15-minute time period for my studies. In this example we see once again a good example of why this is not exact science. The S1 Support target for the trading session of 1/25/02 was 9751. The actual low was 9735. That is 16 ticks of slippage, which equates to 160 dollars on the 10-dollar per tick contract. By watching the hourly closing time period to see if a Bullish candlestick pattern appears at an important level of support or a Bearish candlestick pattern at an area of resistance, I am able to determine a trading plan with a higher degree of confidence.

In the example below, using the data from 1/24/02 (high 9855, low 9760 and close 9794) we calculated the S1 SUPPORT for the next day (1/25/02) at 9751. The second hour of trading on 1/25/02, a Bullish Engulfing pattern formed and generated a strong buy signal. The opening of the third 60-minute period gave an opportunity to go long near 9790 using a stop below the low of 9735. In fact, a stop could have been placed below 9750 so the risk would be down to 400 dollars (10 times 40 equals 400). Within one hour the market advances up to the 8960 and gives an opportunity to move stops up or get out of a long position near the R1 resistance number of 9846. Three hours later the price advances up to a high of 9895 generating an opportunity to liquidate the long position near the Daily resistance R2 of 9898.

(Figure 4.5)

The reaction of the market when it trades near these pivot numbers can be a significant bounce when near a support number or the market can simply stall before blowing through the support number and then continuing the trend lower. In my experience there is usually a “reaction” from the numbers. The longer time period (weekly or monthly) the calculation is from, the bigger the reaction can be. Really the only thing you as a trader needs is to get in the market, capture a significant price move, get out and profit from it with this Simple Strategy for Day trading or Swing Trading

The chart below in figure 4.6 is a 60-minute chart starting on Tuesday July 16th and ending on July 30th 2002. I am going to demonstrate how the Pivot Point Analysis, based on the weekly numbers, in one of the biggest down months in S&P history targeted the support level and called for the low within 9 points!

The week ending 7/19/02 had a high of 929.5 the low was 840 and the market closed at 844. The fundamental backdrop was so pessimistic with all the corporate accounting scandals, doubt that the economy could sustain growth, Middle East tensions were flaring and earnings were coming in weaker than expected. There were not many indicators that were calling for a low or a turn around in the equity markets.

# What is the best day trading strategy for beginners?

A day trading strategy that beginners can easily use to make money.

A day trading strategy that beginners can use as a starting point to learn and improve, while minimizing losses.

Novice traders should not be driven by profits. Instead, their day trading strategy should focus oncontrolling risk and developing the trader.

Day traders who are just starting out should not be led into the glamour of raking profits day after day without first understanding the risks of day trading.

To ensure their longevity in the market, day traders must be able to learn from their trades and develop the right trading attitude.

Look out for day trading strategies with the following characteristics to start your day trading journey right.

## 1. INFREQUENT DAY TRADES FOR BEGINNERS

Beginners should trade infrequently. For traders who are still grappling with their trading edge, trading less is definitely better than trading more. It is a form of risk control.

Trading infrequently also gives you time to learn from your trades. You will also be able todevelop a greater awareness of your emotions and keep them in check. Taking dozens of trades in a flurry will only cloud your analysis and fuel your feelings of fear and greed. Follow these tips to to trade with a lower frequency.

1. Avoid scalping strategies.
2. Trade higher time frames. (Use 5 minute charts instead of 5 seconds charts)
3. Be very selective and take only the best trades.

## 2. DAY TRADE WITH THE TREND

Day traders love to boast about picking the top of the day or low of the day. When you do catch the top or bottom of the trend, you feel like a hero. When you do not, you feel like a loser trying to fight the trend that seems to go on forever.

Trading is not about heroes and losers. It is about patience and persistence.

A trend trader must be patient and wait for a trend to develop. A trend trader must also be persistent in taking trades with the trend and not be tempted to pick the top or bottom. Trading with the trend helps a beginner focus on the right state of mind necessary for consistent profitability.

## 3. PASSIVE POSITION MANAGEMENT FOR DAY TRADING

A novice day trader should set the stop and target for each trade, and leave them alone. Do not adjust your stops and targets.

This is because a beginner is prone to adjusting their stops and targets emotionally. They make adjustments because they are affected by the blinking profit and loss figure on the screen. Only confident and experienced traders who can manage their trades based on objective analysis should do so.

Rather than meddling with the position when you have neither confidence in your skill nor control of your emotions, leave your stop and target alone. Take out a piece of paper and write down what you would have done if you were managing your position actively. This is a learning process.

Once you have a sizeable sample (>30 trades), compare the the results of passive management versus if you had managed it actively. You can then evaluate if you should be actively managing your trades.

This rule of passive management will also deter a beginner from cancelling the stop loss order, our ultimate risk control tool.

## EXAMPLE: ADAPTING THE 9/30 DAY TRADING STRATEGY FOR BEGINNERS

Most day trading strategies can be adapted for beginners. Let’s take a look at how we can adapt the 9/30 trading setup for beginners according to the characteristics discussed above.

1. The best trades of 9/30 trade setup are the first pullbacks after a new crossover. We will restrict our day trading strategy to taking only these infrequent best trades.
2. 9/30 trading strategy capitalizes on retracements. Following its rules will naturally keep you with the trend.
3. Place your target at the previous trend high/low and place stop a tick below/above the signal bar. Do not adjust.

There you go, a sound day trading strategy for a beginner. Remember that the best day trading strategy for beginners is not the perfect trading setup, it is the best starting point towards success.

Take a look at our Day Trading Strategies collection for many other day trading strategies that can be adapted for beginners.