By Darrell Martin
Have you ever noticed that sometimes the cost of a daily contract and an intraday contract can be exactly the same but with different strike prices?
This may mean the difference between winning and losing when you’re trading binaries where even a tenth of a tick matters. It can sometimes be hard to notice this difference in price if you are constantly having to click between numerous screens to see various expiration times.
This can be maddening especially if you are not able to take advantage of the winning strike contract.
If you were trading on any one of numerous platforms available on the internet, you would have to click back and forth from screen to screen to locate the contract you want. In doing so, you have probably had the experience many times when you barely missed getting in at the price you wanted because you clicked off that screen to check another screen.
At Apex Investing, there is a tool that is easy enough for new traders to use, but sophisticated enough for seasoned traders to use every day. It is the Binary Option Scanner. This tool was created to help traders like you be able to pick the trades that have higher probability, that are deeper in the money, for less or the same risk. It is a no brainer.
When you first look at the Binary Option Scanner, it may look like there is too much information, but it is easily simplified. All you have to do is know what you want. Do you want In The Money (ITM) contracts? Then click that box on the scanner. Did you get a signal to buy? Click the box for buy and the scanner will eliminate all the sell contracts. Do you want to see only the contracts expiring in the next two hours? Then you’ll mark that on the scanner. Doing these things makes it incredibly easy to find just the contracts in the markets you are looking for.
The image above shows the perfect example of an Intraday and a Daily USD/CAD contract having the same price, same risk and same expiration, but different strike prices. If you bought the 1.1182 and the market dropped down to 1.1181 or 1.1180, you would lose. But if you bought the 1.1180 for the same price and it expired above 1.1180, you have no more risk, but two ticks more room to move which could be $80 difference on one contract. If it was $80 on one contract, then it would be $800 on 10 and $8000 on 100! When using the Binary Option Scanner, you would have been able to see, on one screen, that there were actually two options available for you to choose from without having to jump back and forth between screens. The Binary Option Scanner was designed to save you from making little mistakes that would ultimately cost you lots of money.
To experience how this Binary Option Scanner works for yourself, go to www.apexinvesting.com. Apex Investing Institute offers free education, and free access to the Nadex Binary and Spread Scanner Analyzers. Member traders are invited to trade in the chat rooms, take advantage of trade signal services, have key indicators and access the Apex Forum. The forum content is updated daily and includes over 8000 members. In a supportive learning community of seasoned as well as up and coming traders, traders of all levels learn how to trade Nadex binaries and spreads in depth, as well as futures, forex, stock and options, and gain an edge for successful trading overall.