Creating a strategy is a very important step in successful binary options trading. This strategy will dictate how you trade and how much you trade. However, there is no correct answer for everybody. You need to try 1 strategy for some period of time. If it does not work, then you switch to a new strategy and keep your discipline.
All binary options strategies are separated into 2 basic categories: Fundamental and Technical.
Fundamental strategies focus on the performance of companies, indices, countries, and economies. This is basically the macro part of setting up your strategy. While this is important in helping you structure your vision and outlook, in order to make money we should look at the technical aspect of trading.
Technical trading, or technical analysis, is the measurement of charts and price movement. First, you look at data and then make speculations from those patterns.
This is the golden rule: Having a strategy will simplify your trading and help you minimize risk.
To help you formulate a good strategy, please consider creating a free demo account at IQ Option or ExpertOption, because these 2 binary options brokers offer $10,000 of free trading money, along with a wide selection of educational material to help you make money.