Binary options trading is a type of financial trading that involves predicting the future price movement of an underlying asset, such as a stock, commodity, currency, or index. In binary options trading, you're essentially betting on whether the price of the asset will go up or down within a certain timeframe.
Here's a simplified explanation:
- You choose an asset: Select the asset you want to trade, such as a stock, currency pair, or commodity.
- You predict the price movement: Decide whether you think the price of the asset will go up (CALL) or down (PUT) within a certain timeframe.
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