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The process of creating a profitable binary options trading strategy combines analysis, risk control, and strict adherence to a predetermined plan. It's crucial to remember that trading is always risky and that there is no surefire approach to make continuous gains. Nonetheless, the following are some typical approaches that traders in binary options trading could employ:

Trend Following Strategy: Examine price charts to determine the dominant trend.
Select the right binary option (Put for a decline, Call for an uptrend).
To verify the trend, use technical indicators like the Relative Strength Index (RSI), Bollinger Bands, or Moving Averages.

Support and Resistance Strategy: Examine the price chart to determine important levels of support and resistance.
Put options at resistance levels and call options at support levels.
Keep an eye on how prices respond at these levels.

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Here's a step-by-step guide to binary trading:

Select an Asset: Choose the underlying asset you want to trade. This can include currencies (forex), commodities (gold, oil), stocks, or indices.

Choose the Expiry Time: Decide on the duration of the trade. Binary options have fixed expiration times, ranging from a few seconds to months. Short-term traders may prefer minutes or hours, while longer-term investors might choose daily or weekly options.

Determine the Investment Amount: Specify the amount of money you want to invest in the trade. This is the amount you stand to lose if the trade is unsuccessful.

Predict the Direction: Decide whether the price of the chosen asset will go up or down before the expiration time. If you believe it will rise, choose a call option; if you think it will fall, choose a put option.