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How to Write a Trading Plan for Binary Options. If you serious about a business, you need to have a business plan. If you are serious about trading, you need a trading plan. Before you invest any of your hard-earned money, you need to create a trading plan which you will follow each time you trade.

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A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.

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