Binary options are a relatively new financial instrument. They came on the world in 2007 with the approval of the United States Securities and Exchange Commission. Ever since many traders prefer to invest in binary options trading due to their simplicity. Since binary options are a new, a lot of people are not familiar with their functionality. So today we will reveal some of the best binary options books for beginner, intermediate and advanced traders.
Quick Look: The Best Binary Options Books
- The Binary Options Book Of Knowledge: Everything I Wish I Had Known Before I Started Trading by Christopher Carlson - Get this book
- Binary Options: The Beginners Guide to Trade and Profit by Edward Dorsey - Get this book
- Binary Options: Powerful Strategies To Dominate Binary Options by Jordon Sykes - Get this book
- Call or Put: How I Profit Using Binary Options by Dennis Preston - Get this book
- High Probable Japanese Candlestick Patterns by Theodore Kekstadt - Get this book
- Day Trading: Vital Strategies for Intermediate Traders by Brian StClair - Get this book
- 60 Second Binary Options Sniper: 60 Second Binary Options Sniper by Jack Swift - Get this book
- Advanced Technical Analysis: The Complex Technical Analysis of Assets by Wojciech Jakub Podobas - Get this book
- How To Master The Psychology Of Forex & Binary Options Trading: The Definitive Guide To Developing A Winning Trading Mindset by William Allen - Get this book
What Makes a Great Binary Options Book
Binary options are different than other financial instruments only in the way they implement trades and the final goal of a trade. In binary options, you need to guess if the price of the security will be higher or lower after a certain period of time. And you bet a certain amount of money at your call.
If you are right, you will make about 80% interest (rate depends on the binary options brokers) on your investment. But if you are wrong, you lose your full bet.
You will see a lot of similarities between binary options and standard forex or stock trading. This comes from the analysis part. Binary options analyzed same as other financial instruments. For example, if you have a binary option of the EUR/USD, you analyze it the same way as some other contract type of the EUR/USD. After all the EUR/USD is in focus.
In this relation, a lot of books that will help you with binary options are actually books about forex trading or stock trading. But one is sure, a good binary options book will never be overcomplicated. Make sure you look for books that are simple and free of comprehensive financial language. After all, your goal is to understand the theory and not to complicate this process.
Here are some of the topics included in some of the good binary options books:
- Binary options fundamentals
- Trade management
- Strategy building
- Risk management
- Volatility
- Volume
- Technical analysis
- Indicators
- Moving average
- Oscillators
- Momentum
- Inflation
- Monetary policy
Some of these topics are for beginners, others are for intermediate and advanced traders. But each of these topics is essential for your successful binary options trading career. You will find each of these topics in different books that are useful for binary options trading.
The Best Binary Options Books
The different books about binary options will include different theory. And this theory is suitable for the different level of expertise in trading. This is why we will separate the best binary options books in three different groups.
1. The Binary Options Book Of Knowledge: Everything I Wish I Had Known Before I Started Trading by Christopher Carlson
- Who’s it for? Beginners
- Price: On sale
The Binary Options Book of Knowledge is a book for people who are about to enter the binary options market. The reason for this is that the book is like a guide, which aims to clear out the entry-level confusions of binary options trading.
Some of the topics covered in the book are:
- Which currency binary options to trade
- What is the best time to trade
- How to recognize winning opportunities on the chart
- How to avoid scam
These topics are essential for people that have not started trading binary options. If you are already a trader, then maybe you already know the answers to these questions and you need to look for a more advanced book.
2. Binary Options: The Beginners Guide to Trade and Profit by Edward Dorsey
- Who’s it for? Beginners
- Price: On sale
Another good book for binary options trading is The Beginners Guide to Trade and Profit. In this book, Dorsey reveals the ways you can make a living from binary options trading.
The book focuses on some raw basics like how binary options work in general and also covers trading strategies and risk management.
One of the main topics of this book is how to lower your risk when trading binary options. However, this book also covers some fundamental analysis parts as it reveals which world events are likely to affect the price of a respective financial asset and its binary option.
3. Binary Options: Powerful Strategies To Dominate Binary Options by Jordon Sykes
- Who’s it for? All levels
- Price: On sale
This book is written by Jordon Sykes, an author that concentrates his writings on trading topics for beginners. Sykes shares his vision about how to make money from trading binary options. The best of the book is that it also includes some technical analysis insights, which are helpful in trading with binary options.
Sykes admits that his books won't help you master the subject of trading, but will help you go deeper in some subfields, which can pay you back well later.
The book compares different strategies and shows you what works and what doesn't. Although the book is for beginners, it will also introduce you some a bit more advanced practices, which makes the book a good transition to intermediate readings for binary options.
4. Call or Put: How I Profit Using Binary Options by Dennis Preston
- Who’s it for? Intermediate traders
- Price: On sale
This book is created by Dennis Preston, an author whose field is currencies and day trading. Preston is remarkable with his ability to state his points in easy-to-understand language. His book Call or Put concentrates on strategy building and the way Preston achieved success on the binary options market.
This book is suitable for established binary options traders as it gives strategic tips on how to increase the success rate of your binary options strategy. This boom might be what you are missing to reach a consistent profit on an ongoing basis.
5. High Probable Japanese Candlestick Patterns by Theodore Kekstadt
- Who’s it for? Intermediate traders
- Price: On sale
Candlestick patterns are an important part of the technical analysis in binary options trading. This is why we introduce you the book High Probable Japanese Candlestick Patterns by Theodore Kekstadt, a veteran trader.
This is a small book that includes illustrations of some of the best candlestick patterns for finding market momentum. These patterns will help you discover more opportunities on the trading chart.
The goal of the book is to let you put the odds in your favor in trading by giving you another perspective in technical analysis. Reading it you will get better in risk management, cutting on drawbacks in your trading style, and increasing your earning potential.
6. Day Trading: Vital Strategies for Intermediate Traders by Brian StClair
- Who’s it for? Intermediate traders
- Price: On sale
This book reveals a higher a way to take binary options, stocks or ETFs.
The author works the book around the strategic part of binary options trading revealing solutions for many tactical issues like how to position your trades in the market and what expiration diapasons to choose.
The book starts with some basics and then it switches to intermediate level topics like:
- High-level chart patterns
- The RSI indicator
- How to avoid common market mistakes
The book ends with some more advanced techniques, which makes it a good transition to the expert level of study.
7. 60 Second Binary Options Sniper: 60 Second Binary Options Sniper by Jack Swift
- Who’s it for? Advanced traders
- Price: On sale
The 60 Second Binary Options Sniper is a boom by Jack Swift. The book fits traders with more experience in the binary options market as the strategy it reveals requires a great dose of discipline and persistence.
The book introduces a strategy for binary options with an expiration time of only 60 seconds. This way the author Jack Swift aims for higher profitability as the number of trades will grow dramatically due to the low expiration time.
This book puts on the table a topic that is usually taboo in the area of financial markets and trading - the topic for quick profits. And Jack Swift actually reveals an approach, which lets us think of a quicker way to earn.
8. Advanced Technical Analysis: The Complex Technical Analysis of Assets by Wojciech Jakub Podobas
- Who’s it for? Advanced traders
- Price: On sale
This is another book for experienced traders. It is perfect for investors that are looking for ways to expand their technical trend analysis skills.
In this book the author Wojciech Jakub Podobas introduces some indicators that most of the intermediate binary options traders have probably never heard of:
- General trend indicator
- Options arbitrage index
- Personalized moving averages
- Personalized RSI indicator
The book includes insights about how to add a personal touch to most of the technical indicators that we know for a better adaptation to our personal trading conditions. This is likely to help a trader to understand a trend in a better way.
Notice that this book is not especially for binary options. It is for general technical analysis. Therefore, it also applies for binary options trading.
9. How To Master The Psychology Of Forex & Binary Options Trading: The Definitive Guide To Developing A Winning Trading Mindset by William Allen
- Who’s it for? Advanced traders
- Price: On sale
The last book of our choice covers an area that most of the traders totally forget about - the psychological part of trading.
In this book, the author William Allen explains the mass psychology and the frustration of loss in trading. The book continues by gradually switching to individual psychology and data interpretation.
You will learn how your mind affects your decision-making process in trading, which at the same time reflects your performance.
One of the useful features of this book is that it teaches how to identify tilt phases of your mind before they start affecting your estimation in trading. The book teaches how to distinguish conscious actions from habits that we have subconsciously.
The goal of this book is to train your mindset to act the right way in trading without actually thinking about it.
Final Thoughts
Although binary options are a very easy-to-understand trading instrument, they are probably the least understood. The line between trading and gambling is very thin when dealing with binary options. And a lot of people don’t realize when they have stopped trading and have started gambling.
This is why one should take the necessary training and education before jumping into binary options trading. A demo account is a good start to check your preparedness.
If you go through the nine books that we suggested, your expertise will reach new highs in the technical and psychological level - the two most important parts of binary options trading. You will understand that the single trade doesn’t deserve your anger or your joy. You will realize that single trades themselves are just the small mean to reach the big goal - consistent profit on a regular basis.
Looking for more trading books? Check out Benzinga's picks for the best option trading books, best investing books and best Wall Street books.