There is a lot of crappy products and services available for social trading binary options and the bad news is that most of them are scams. The good news is that not all of them are scams and there are even a few that provide a real value to traders. The services, books and other trading tools listed here are ones that I have tried out myself and have used in my own trading, and the only ones to come with The Geek’s seal of approval.
Investoo.com is a full service educational resource and signal provider for binary options. The website is a video library filled with instructional courses useful for traders of all types. Courses cover topics like trading tools, strategies, candlestick signals and even NADEX trading. Incuded with the low cost, only $100 or free with a confirmed broker deposit, are a set of MT4 indicator systems that generate trading signals. Signals are based on well known tools like stochastic, MACD and PSAR and are specially designed for binary traders. If you don’t care to use the indicators the website also delivers signals from these systems directly to you.
Reminiscences Of A Stock Market Operator – Lefevre-
This is by far my most favorite and most read book on trading. This story is the story of all traders and a source of personal inspiration. This is the story of Jesse Livermore, the greatest stock trader of all time. He was so good and so powerful a trader that the stock market crash of 1929 was blamed on him. The story is told by Lefevre, a reporter who supposedly meets up with a stock trader by chance. The trader tells the tale of how he learned to read the ticker tapes trading in the bucket shops of 19th century New York and parlayed that skill into several fortunes. In the end it’s not what you trade, it’s how you trade… attitude is everything.
- Reminiscences is not just a book for traders. It is a great read telling the a story of the early part of modern American life. The story ends just after the great depression, a market event blamed in part on Jesse Livermore.
I read this book at least once every couple of years. Every time I read it I learn something new, gain a new perspective or realize the solution to a problem. The insights on trader psychology, market timing and wealth management are as timely today as they were 100 years ago. Once you read it I think you will agree that the bucket shops where Livermore first got his start are akin to the binary trading brokerages of today. These shops were places where people had access to trade short term all or nothing positions with the house. The experience and knowledge in this book will help you whether you trade in a bucket shop, trading floor or binary options brokerage. This is one trading book that will surely stand the test of time.
Technical Analysis Explained – Pring
This is the bible and the all time go to reference on technical analysis for me, my personal copy is well worn from years of use. Technical Analysis Explained is well regarded as one of the first definitive books on the subject of technical analysis. We recommend this book for new and experienced traders as it holds information ranging from basic trend following techniques and chart patterns all the way through complex strategies utilizing multiple techniques.
- Learn trend determination, support and resistance, Fibonacci, moving averages, volatility and chart patterns. These tools apply to stocks, commodities, forex, currency, futures and binary options trading.
The greatest thing about technical analysis is that it can be applied to any market. The same techniques that work on futures or commodities will also work on index or forex binary options. This book is not the final word on any form of technical analysis but it is the best first step for anyone interested in learning technical analysis or anyone seeking to expand their knowledge. Pring goes over the basic principles of technical analysis, charting, candlesticks, trend determination, indicators, oscillators, volatility and strategy.