Binary options are classified as highly unpredictable, since they are based on the all-or-nothing principle. As a result many traders see it more like gambling than actual trading. Considering that the binary option nature is erratic, it seems reasonable to adopt a strategy popular among the full-time gamblers.
Grind like Oscar
Oscar’s Grind strategy (a.k.a. Pluscoup Progression) emerged back in the 1965 and is still being largely in use in every major casino from Las Vegas and Macau to Baden-Baden and Monaco. The idea behind this tactic is elementary: losses and wins come in series that succeed each other at a certain interval of time.
In other words it’s almost like tossing a coin: a few times it will be only heads or tails in a row. In binary option trading, this strategy is used to minimize potential risk and increase the possible profit. This is how it is done:
Due to its enormous simplicity, Oscar’s Grind strategy is regularly implemented through a bot usage. It’s possible to either use a trading bot with the pre-made increase/decrease options. Or create your own, regulating the contract size for each trade the way you want. An example can be seen here: https://shop.binary.com/products/oscars-grind-strategy.
How reliable is the strategy?
Brokers and some of the traders claim that Oscar’s Grind does help to mitigate losses and ultimately strike gold, when the streak of profitable trades finally comes. On the other hand, it is believed that Oscar’s Grind strategy implies that a trader must have a very big amount of time/money to invest. Basically, it may take a very lengthy period of trading, before the lucrative streak of good trades comes.
However, Oscar’s Grind is one of the most popular strategies, whenever it comes to binary options. After all a trading bot will nullify the time factor, doing all the work for the trader. The two other components of success include a sizeable amount of funds to invest and patience. And of course the ability to tame the gambling passion, which many of the traders have and stop before the loss streak returns.