Best Binary Broker!
Perfect for beginners!
Free Demo Account! Free Trading Education!
Only for experienced traders!
7 Tricks To Be Professional At Binary Options Trading
Are you a professional at binary options trading? If not, then you are in the right place to boost up your energy.
Most of you already know what binary options are, as you are here for the top tips and tricks on trading binary options. But, for the uninitiated, we will give a short brief.
Binary Options are financial instruments that allow you to trade on all kinds of assets such as forex, stocks, futures, crypto, indices, and much more. There are only two directions in binary trading and this is where it gets its name from.
By accurately predicting the outcome, you win a payout. If you are wrong, you get nothing and lose your initial investment. The time from when you place the trade till the time the trade lasts is the expiry time.
When you think the price of the asset will increase, you buy a call option. Moreover, when you believe the price will decrease, you purchase a put option.
It is just a short introduction to binary options. Head on over to our introductory guide on binary options trading that covers all the concepts of options trading in great detail.
Can Anyone Be A Professional At Binary Options Trading?
Binary Option is simpler and far less complex compared to other forms of trading. It is easy to understand as well as beginner-friendly. But, does that mean it is easy to score profits when trading binary options?
Let’s take a look at statistics and probability.
In a study conducted by FinanceMagnates , they covered on Japanese binary trading industry. The average payout ratio was found to be at 95.69%. On an average 74.1% of traders ended up facing losses trades.
Roughly 1 in every 4 traders ends up making money trading binary options. By now you have realized even if they are simple to trade, it doesn’t mean everyone’s making off it.
- What’s the difference then?
- Why are some traders expert while the majority keep losing money, and blame their broker?
- Are they missing out on some secret information?
Sorry to burst your bubble, but there is no secret mantra or formula that will make you rich overnight. There are, however, a few tricks and tips that you can apply in your trading. It will help you stay ahead of the curve.
Best Binary Broker!
Perfect for beginners!
Free Demo Account! Free Trading Education!
Only for experienced traders!
Via this article, we will share with you the 7 best tricks to become a professional Binary Options trader. We will suggest you read till the last to find out what these tricks are.
Quick Binary Options Tips and Tricks
There are a lot of tools, tips and tricks that can turn you into a better binary options trader. One of these tools is a good pack of binary options trading signals. In spite of the usefulness of binary options trading signals, there are a lot of small tips that can help you become a better trader without the need to use fancy indicators – throughout this article we will go over 8 binary options trading tips.
Know about the Binary Options Market and Get the Right Tools
One of the things that you must bear in mind is that binary options trading is, like any other kind of trading model, something you must study and delve into to – the binary options market requires proper study.
You must understand how the economy works as a whole in order to better predict what will happen to a certain asset–in order to bet accordingly and get your profits to roll into your account.
Another thing to consider is that there are a lot of tools that can help you succeed–and knowing what they are and how to properly use them can make or break a profitable trader.
We discussed binary options signals in the first paragraph, but there are a whole lot more to discover.
Choose the Right Binary Options Broker
In order to launch yourself on a successful journey that includes trading binary options, you have to get a trustworthy partner–a legitimate, reputable, professional and honest binary options broker. Summing up–the binary options broker that’s able to fulfill your needs.
We will recommend a certain binary options broker by the end of this article, but the rule of thumb is – if it looks too good to be true, then it probably is (and you should stay away from it).
Always read the binary brokers’ terms and services.
Trading Requires Practice
One of things you must know about binary options’ trading is that it requires practice and practice, when it comes to investments, requires money.
So, bear in mind that you should have a small fund that you can lose in order to learn and get better. Be sure to avoid investing with money you can’t lose, as on your first trades you’ll likely to kiss your money goodbye.
Design a Binary Options Trading Plan and Research Assets
Traders can’t jump in and out of binary options’ orders by impulse or ruled by emotions–they should build and design a trading plan from the ground up and research every single asset they think about investing with in order to maximize profits and minimize losses.
Proper preparation is needed, and you shouldn’t be caught off guard–do your homework!
Don’t Choose “Interacting” Assets
There are assets that affect how each other perform. For instance, the USD and EUR affect each other inversely–this means that when the USD rises, then the EUR goes down and vice-versa.
So, you should avoid investing on the USD going up and place a similar bet on the EUR going up too–you’re probably going to win one bet and lose another, which will cause you to get a loss overall.
Make Use of Practice Accounts
Most brokers provide their users with practice accounts, accounts that have “play money” and allow users to invest using that money in order for them to learn trading and to get better at it.
The practice accounts are there for a reason, and you should use them to their fullest–this can save you quite a lot of expenses.
Risk and Money Management is Vital
If you’re going to get serious on binary options’ trading then you’ll have to dominate your e-wallet and become a pro at risk management.
Try to research on this subject and get informed–you’ll thank us later.
Hourly Binary Options Trading: Something to Consider
Finally, if you want to really feel the difference overnight, you should consider getting in hourly binary options trading–as profits can grow pretty quickly. Beware though, losses can add up quickly too.
Consider these tips and try to apply some of them as soon as possible–and don’t forget to practice trading often!
If you want to start walking down the path towards binary options’ trading success, consider checking Call and Put out, they are professional, trustworthy and have a stellar customer support team – the margins are also quite attractive, and you’ll see that they have a lot of tools available to help you improve.
9 Tips for New Traders to Trade Binary Options
From earning a little extra money to making a full time living, or making a lot of money in a short span of time, binary options trading is an excellent way to achieve all of this. As it slowly gains popularity all throughout the world, thousands are making good money with little or no prior knowledge of the subject, however, binary options trading isn’t a cake walk: success can be achieved and risks can be minimized by following the tips mentioned below:
9 Tips for New Traders to Trade Binary Options
- The first and foremost advice to be given to any beginner trader is to select a good binary options broker for your help in this field. A good broker, who knows his work, makes all the difference. There are various comparison websites available to make this choice easier for new traders, so one can quite easily consult these websites and choose a good binary options broker of their choice.
- Secondly, it is advisable to increase your knowledge in the field of binary options trading and to know that there is always more to learn. There are training courses available for imparting binary options trading knowledge to new traders. Reading new books on the subject matter and discussing with other traders about the matter also adds to the benefit. This type of trading is a constantly-evolving experience, hence knowledge on the matter is ever expanding.
- Thirdly, trading long term serves better returns, and binary options trading is a long term activity. Developing a long term plan for your binary trading and playing the right cards will ensure that you ultimately come out on top. Resist the temptation to get drawn into fads that do not fit into your overall strategies and strictly stick to your drawn plans.
- Fourth is to reduce your risks by resisting the urge to over-invest. Beginners tend to get carried away to make that one big score but they must employ some self control as that may be a game changer. New traders lose more money by getting carried away and over investing. Binary options brokers advise to invest not just with courage but also with rational thinking.
- Fifth, it is essential to keep a clear head while making any decisions about binary options trading. Beginners should avoid trading when they are emotionally disturbed, as emotions can create havoc with your trading. It is very easy to make the wrong decisions in an emotional state, so it is advisable to stay away from any form of trading until you’ve calmed down and cleared your mind.
- Prepping yourself before trading in binary options is the sixth advice. Studying the market and viewing graphs over time can help new traders predict behavior of any binary options asset, thereby helping them to make well-informed decisions.
- Another very important piece of advice would be to keep apprised of trading news. Keeping ears and eyes open to catch breaking news about the market condition can get the binary options trader a clear view of current situations, making it easier for him to trade during market crashes. By understanding the root cause for market changes, the new trader can help corner the market when it rallies or crashes.
- Hedging trades against each other just ends up decreasing the statistical probability of earning more profits as opposed to increasing them.
- Last, but not least, it is very important to have fun while trading binary options. Beginning binary options traders must ensure that it does not become a bore or a drag; if a trader has fun while trading, then he or she will be naturally inclined towards it and will pay more attention and make better decisions, thereby increasing profits.
- Pin it
More by this author
Trending in Money
More by this author
Trending in Money
8 Leg And Butt Workouts To Reshape Your Lower Body
4 Simple Desk-Based Stretches for Effective Lower Back Pain Relief
Why You Should Go For Vitamin D But Not Vitamin C To Prevent The Cold
Why an Attitude of Gratitude Is Essential (And How to Develop It)
Last Updated on March 25, 2020
How to Set Financial Goals and Actually Meet Them
Serial entrepreneur and working towards Early Retirement Read full profile
- Pin it
Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?
In this article, we will explore ways on how to set financial goals and then actually meet them with ease.
Table of Contents
5 Steps to Set Financial Goals
Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:
1. Be Clear About the Objectives
Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.
It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.
Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.
2. Keep Them Realistic
It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.
It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.
3. Account for Inflation
Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.
Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.
For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.
4. Short Term vs Long Term
Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.
As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.
More on this later when we talk about how to achieve financial goals.
5. To Each to His Own
The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.
It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.
By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.
11 Ways to Achieve Your Financial Goals
Whenever we talk about chasing any financial goal, it is usually a 2 step process –
- Ensuring healthy savings
- Making smart investments
You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.
Ensuring Healthy Savings
Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.
This is the focal point from where you start your journey of achieving financial goals.
1. Track Expenses
The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.
Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.
2. Pay Yourself First
Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!
Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.
The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.
Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.
3. Make a Plan and Vow to Stick with It
Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.
Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.
At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.
Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.
You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.
4. Rise Again Even If You Fall
Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.
If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.
Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.
All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.
5. Make Savings a Habit and Not a Goal
In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.
Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:
Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.
If you are travelling buff, try to travel during off season. Your outlay will be much less.
If you go out for shopping, always look out for coupons and see where can you get the best deal.
So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.
6. Talk About It
Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.
Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.
7. Maintain a Journal
For some people, writing helps a great deal in making sure that they achieve what they plan.
So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.
Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.
When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.
At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.
Making Smart Investments
Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.
8. Consult a Financial Advisor
Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.
Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.
9. Choose Your Investment Instrument Wisely
Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.
Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.
Do you remember we talked about bifurcating financial goals in short term and long term?
It is here where that classification will help.
So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.
10. Compounding Is the Eighth Wonder
Einstein once remarked about compounding,
Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.
So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.
Start investing early so that time is on your side to help you bear the fruits of compounding.
11. Measure, Measure, Measure
All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.
If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.
If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.
Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!
The Bottom Line
This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.
As you can see, all it requires is discipline. But guess that’s the most difficult part!
Tips for New Traders
You will learn about the following concepts
- Use a user-friendly and reliable broker
- Set a limit on your bets
- Control your emotions
- Stay informed
- Learning process is endless
In the beginning of our tutorial we explained what binary options are and we told you why this type of trading is becoming so popular. It isn’t as easy as most of you would want it to be, but it is certainly not as difficult as Forex trading. Unfortunately, binary options trading is not simple at all, so in order to achieve satisfying results, you’ll have to spend a lot of time learning. Nevertheless, you can rest assured that eventually all the hours spent reading and testing different trading strategies will pay off.
There isn’t a formula accurate enough to instantly teach you how to trade binary options, but we are here to give you some valuable lessons about binary options trading. However, in this article we won’t be teaching you any technical skills related to binary options trading, rather give you some hints on how to be a more successful trader and how to make sure that your trades will have a higher chance to expire “in the money”.
Best Forex Brokers for United States
Use the Services of a User-Friendly and Reliable Broker
If you haven’t picked up a binary options broker yet, we advise you to take a look at this article and start looking for a binary options broker, who meets your requirements and needs, and most importantly – is a good choice for beginners.
Set a Limit on Your Bets
Don’t forget that you should spend at least several weeks trading with a demo account before switching to a real money account. Of course, switching to the real money account means that your trades will now bring you profits or losses. This is why you should set a limit on the amount of money you are ready to place on a single trade. Naturally, risking your entire balance on one single position isn’t a good idea, although the thought of a big payout may seem rather tempting.
Our advice to you is to determine what part of your bank balance you are ready to put on a single trade and stick to your decision. Most binary options traders stick to either 10% or 15%, but braver traders easily bet with $20-25 of their bank balance. Since you are a beginner, it is a better idea to trade with smaller sums of money, thus you can begin by trading with 5-10% of your budget. As you complete more trades and gain confidence and experience, you can start increasing the amount of money you bet until you reach a percentage that suits your needs.
For example, if you’ve made an initial deposit of $250 and you’ve decided that the maximum amount of money you are ready to place on a single trade is 10% of your bank balance, then the size of your positions should not exceed $25.
Control your Emotions
One of the most common mistakes novice traders make is letting their emotions lead the way. Don’t forget that binary option trading is a job that is entirely based on analysis, complex calculations and understanding of the global markets. Every experienced trader knows that factors as luck, good feeling etc. do not exist. You can only rely on your skills and analysis based on the news and data provided by the technical tools you use. If you are having a bad day and you’ve lost a lot of money, it is probably a good idea to stop trading for the day, because you won’t be thinking clearly and you may make some mistakes which you’ll regret on the next day. Trust your strategy, develop your analysis skills and never rely on things such as luck, intuition or ‘having a good day’.
Binary options trading is a time-consuming activity. You must always read about the latest events in the global markets in order to keep up with the most recent information and updates. Experienced and successful traders usually trade with several assets and they rarely change them. This is why as soon as you learn how to trade binary options you should pick 5-6 assets that you think are the easiest to predict. Always read the news related to the assets in order to be able to react adequately in case the market news predict a drastic change in the price.
It’s Important to Be Quick, but it is More Important to Be Wiser
Depending on the types of binary options you are trading with, you may be forced to make swift decisions. However, acting fast doesn’t mean you should leave everything to your instinct. Every binary options trader is responsible for opening positions by quickly making a well-informed decision that has a solid foundation in the form of fundamental and technical analysis. One of the principles you should remember about binary options trading is that you should first minimize your losses and only then start working on building up your profits.
Learning Process is Endless
Don’t think that binary option trading is something that you can learn in a day, week, month or even a year. Trading platforms are regularly updated with new information and new technical tools, and you can find hundreds of binary options trading strategies on the Internet. The goal of the binary option trader is to constantly improve – keep reading on this topic and never lose your desire to learn. With each book, article and idea you read about, you’ll gain valuable knowledge which you’ll be able to apply in your trading strategies sooner or later. Some of the most successful binary option traders say that one of the main secrets behind their success is the fact that their learning process has never stopped, which allows them to keep in touch with the latest changes to the market and always be the first ones gaining profit from the newest strategies.
You are just in the beginning of your binary option trading career, but you’ve already learned something useful thanks to our tutorial. The tips & hints above are just some of the things that you should be aware of before advancing with your binary option trading career. Don’t forget our pieces of advice, because they can make the differences between success and failure in many cases.
5 simple Binary Options Tips & Tricks
What is the key to success with Binary Options? – On this page, I will show you the best and simplest Tips & Tricks for trading Binary Options. That is a piece of advice for beginners or advanced traders. With more than 5 years of experience in trading, I know what I am talking about. It is always the same mistakes why traders lose their money to the markets.
It is important to go through all the steps and techniques on this website because only one mistake can cost you a lot of money:
1. Know the risk of trading (Risk management)
If you start trading you have to risk money on the stock exchange in order to make a profit. Most of the time this fact is misunderstood and traders care less about the risk. Binary Options are very risky to trade because you can lose the invested amount of money. That means you have to have a higher hit rate than 50% to make a profit over a long time horizon.
Sometimes there are loss stikes for beginners or advanced traders. It always can happen to you because the market is different and flexible in his price movements. Sometimes you lose more than 10 trades in a row. That’s why you need sensible money management.
Sensible money management means long-term success.
It is important to use your funds wisely. That means that you should protect your account against loss strikes. Most traders risk too much money of their account balance and then they wonder why they start trading irrational and with emotions. It is harder to lose 100% of the account balance than 10%. Sensible money management means that you only risk 1% of the account balance per trade.
Example: You got an account with the balance of 10.000$. Risk of 1% is 100$ investment in each trade. That allows you to lose more than 10 trades in a row and so it is easier to accept the loss.
Also, you should always use the same amount of money for your invest (percent of account balance). Professional traders know this fact and they are growing their accounts continuously and not in huge steps.
2. Start investing with a small amount of money
Nowadays you can start trading with a small amount of money like 10$. In my opinion, you should start with a small deposit like 50$ or less. After you feel comfortable and do a profit with the small account balance you can invest more money. It is important to stack up risk if you trade well and profitable. You never should do it the way around. That can be very bad for your hard earned money.
- How much money do you want to fund into your account?
That is another question for traders. As mentioned before I always start with a very small amount in a new trading account. After I gained some profit I feel comfortable and able to invest more funds into my account.
3. Choose a regulated Binary Options Broker
Another tip to improve your results is to choose a regulated Binary Options Broker. It is much safer for your funds. This is the shocking truth! Unregulated brokers sometimes scam their clients. That is what should be avoided by this tip. I personally cannot trust an unregulated company that´s why I created the comparison below. In the table, you will find regulated brokers for trading Binary Options. The funds are safe with them and you will get your payout directly.
|1. IQ Option||(5 / 5)
|CySEC (EU)||up to 100%+|
High Yield 92%
4. Develop a strategy and trading rules
Trading without a plan is not a good idea. Every professional trader got his own strategy. From my experience, it is not a good idea to copy a strategy for 100% too. First of all, you should practice trading in the demo account for getting new experience in the markets. In addition, you can learn strategies and get higher knowledge through the education center of the broker or the internet.
On my site “Binary Options Strategy” you can learn about my best method to trade the markets. It is important to get a trading routine by strict rules. It should be lite a system which is working correctly. In conclusion, there are a lot of good working strategies on the internet but most traders do not follow the rules exactly. It is very hard to trade the exact rules for a human.
Create a checklist for your trading routine, I will give you an example:
- Check out the market news
- Which time is it?
- Which markets are open?
- Where was the open of the markets?
- Are there any support and resistance prices in the market today?
Development of a trading strategy
Personally, I got strict rules for entering the market. My “false breakout strategy” allows me to trade only on certain levels in the market. I am searching for highs and lows and wait for the break. That’s all that I am doing. Very simple and clean. But it is hard to follow the rules every time because the market always moves and maybe gives you other opportunities to trade. I try to ignore the other opportunities for better results of my strategy.
5. Do not do overtrade
This is the last tip for trading successful Binary Options. Overtrading is one of the most common mistakes of beginners. Especially for a short-term day trader, it is difficult to do not overtrade. That means to trade a high volume in a lot of different trades. In my opinion, you should make a rule that you do not trade more than a certain amount in one hour. The problem is the concentration of human consciousness.
In addition, it is important to take breaks from trading to get a recap and relax for some time. Short-term trading is one of the hardest methods to trade the markets. The price always moves very fast from the one end of the chart to the other end. I recommend to trade a maximum of 1 hour and then do a break for 10 minutes. Do not become addicted to the markets. Often it will blow up your account if you do not trade rationally.
- Just spend one hour by trading the markets
- Do a break after it
- Start again for one hour
- There should be a daily time limit and trade limit
How to win Binary Options every time?
Did you ever ask this question to yourself? From my experience, it is impossible to win every trade. The best traders got a hit rate of more than 70%. They also got lose trades or strikes. It is all about the probability to win in the markets. The probability cannot be 100% because there are other humans who react to the markets. You can not make a forecast for 100% about to a human reaction.
Another possibility to get knowledge about the hit rate of your strategy is to do research and analyze bar by bar the last price movements. Do it by yourself and you will find out that there is not the same price movement occurring every time. In addition, you should never trust somebody who says that he always win Binary Options.
In conclusion, the key to success is practicing trading and get more knowledge about the markets. The best way to practice is a free demo account with virtual money. It is simulating the real money trading and you trade without any risk. After you learned a proven strategy the way is open to earn a lot of money.
What are the best trades for beginners?
Binary Options is a flexible financial product. You can customize the trade like you want before you click the call or put button. But what are the best options for beginners?
From my experience, I recommend for beginners to do not do short-term trading like 30 or 60-second trades. It is a way too fast for beginners. All in all, it is easier to use higher timeframe because you got more time to react to the markets. Beginners are too slow for watching 30 or 60-second charts. Furthermore, beginners should trade the most traded assets by their broker because they give them the highest profit of 80-95%.
- Avoid 30 – 60-second trades
- Trade the most traded assets by your broker
Beginners should avoid short-term trading
Review of the Binary Options Tips and Tricks
On this website, I showed you different techniques to improve your trading results with Binary Options. You will get more profitable trades if you follow my tips and tricks. In conclusion, there are a lot of different mistakes traders make. Often they do not know what they are doing and then they wonder why they lose a huge amount of money.
As mentioned before knowledge is the key to success. That’s why I created this page for you.
- Risk Management
- Start with a small amount
- Regulated Broker
- Strategy and rules
The tips complete each other. Every bad trader starts with wrong risk management. Stop increase the risk if you are losing. Professional traders increase the risk if they are winning. It makes no sense to risk more money in a losing strike. It will make the losing strike even bigger. On the other side, you should increase the risk in a winning strike. Start with a small amount of money for your first trades. If you do it well and feel comfortable with the platform, you can increase the risk. You will gain more and more self-confidence after you won some trades in a row. That allows you to trade better and accurately.
The most beginners ask: which is the best Broker for Binary Options? – I recommend using a regulated broker like IQ Option, Olymp Trade or Expert Option. Check out the upper table and create a free demo account or read the big reviews of the brokers on my website. It is important for me to use a regulated broker because I cannot trust unregulated one. I want to be safe by investing money and not get scammed.
The last 2 tips are supporting each other. By using a professional strategy you will not overtrade in the markets. Strict rules and knowledge is the key to success with Binary Options. I hope you enjoyed this page and you will make less losing trades.
Best Binary Broker!
Perfect for beginners!
Free Demo Account! Free Trading Education!
Only for experienced traders!