Eight years ago, when I first came in trading, many aspects had me incomprehensible, then on the Internet was not so much information about this area, therefore, had to learn from its experience, make mistakes and sometimes stepping on the same rake. You often ask me what advice I would give today “from the past”. Well, I decided to write 9 basic tips for beginner traders.
Binary options traders tips from the professionals
Who does not risk, he does not drink champagne? Risk-management trade
Remember, risk management (the size of each wager must be 1-5% of deposit) you want to use ALWAYS. Because money management is a direct path to stable earnings. No need to be greedy. If your trading system shows good results today, it will show them tomorrow.
So, if you see that the fifth consecutive transaction closes at plus-not worth a raise and even more so to go all-in. Next sixth deal may prove to be fatal. And another tip from successful traders: never need to override the loss rates to recoup, to use the martingale in trade, etc.
- Kreks! FEX! Pex! Magic trade strategy
You often ask me to share my strategy or suggest another 90 per cent yield. Dear friends, please accept, as an axiom- Grails on binary options no. At least no one has found them yet. I understand that it would be very handy to get an easy win-win working strategy that would provide a stable 80-90 percent profit. But! In the real world this is not the case, only hard work is able to bring this result. So, my advice to newbies to binary options-filter strategy, study indicators, graphic patterns, trade volumes, the impact of the news. Together, these tools will give a very decent result without Grails. And forget about their “strategy” on the heads of bulls and “signals” for binary options with investing…
If you ask for advice from experienced traders, they will recommend starting with the amount of “not sorry” to lose. I’m certainly not saying that this amount would have to lose. But, as practice shows, if a trader is very afraid for their money, they do it, or the trade credit was the taken-the result will be disappointing. Because, being in a State of stress and, fear, traders are starting to make mistakes, to open in the wrong direction, recheck all (while keeping the excellent points for entry) and so Trade to idly out, calmly, not ” play faster and more “, and the result will be stable. On the features of Psychology beginners, I wrote here.
- Who gives away their money? Choosing a broker to trade
Selection of binary options broker -perhaps the most important step for a successful trade. Let me give you an example, my VEHICLE consistently gives 75-80% profitable trades. Not long ago I decided to try the one touted by the broker. And what kind of result you ask? The order of 40% profitable trades closed in minus! This is a catastrophically unacceptable result. So my advice to all traders of binary options, as a professional, trade only proven major brokers. No small basement» kontorok. Firstly, the trade will not give, secondly, profits then may not withdraw-will have to start all over again. Also, do not contact brokers binary options that build their reputation in the advertising and focus primarily on massification. Imagine how many traders and relevant to them. And percentage profitability and cut, without a twinge of conscience, will shuffle their quotes. Then quietly pay their fine and will continue. In such cases, alas, very much.
I strongly advise all newbies to use only those tools you understand. If you do not understand the principle on which “magic” strategy gives signals for binary options-do not use it. Let’s give an example. Remember the strategy spread points with investing, where hundreds of traders lost their deposits? None of them understood what basis these data points. Always try to understand the interaction of the indicator or strategy, before starting to use any tool.
- Choice assets for trading
My next tip for beginners: don’t focus on the currency pairs. Traditionally traders begin to trade the EUR/USD. There’s nothing wrong with that, but you should consider that at your disposal with the broker presents more than 100 assets. If you try to expand your horizons, it turns out that almost every day in the market you can find a pronounced trend. This need not be the currency pairs. Stocks, indices, commodities, futures-all these group of assets exactly amenable to technical analysis, and therefore on them you can earn. Moreover, the percentage of profitability can be higher than the notorious EUR/USD.
- Country fools: DN, pamm, robots
Dear traders of binary options, my advice to you are to never need to provide data to log in to your account with the broker and even less money. This is equivalent to just give away all their savings stranger on the street. I recommend you first read what DO, what kind of relationship he has with pyramids, known to us from the times of Leonid Golubkov. About robots, I can say only one thing: that robots can operate in your account, the creator gets permission from the broker (technical, including). So here’s a question-whether the broker will allow binary options to connect a robot that is able to earn hundreds of thousands of traders (depending on the size of the deposit). In my opinion, the answer is obvious. Moreover, if the broker himself luring you Robot (by the way, be careful, IQOption created a new robot and actively promote). Not worth it to fill the cones and associated with notorious scams.
- Study, study and study again!
Well, this time the binary options Board gives us Grandpa Lenin. Not a secret that you need to continually improve, acquire new knowledge, then and only then will you begin to understand the market. For example, very often trade undeservedly overlooked. I advise you to explore:
- Support and resistance levels,
- Pin Bars,
- Models of Japanese candlesticks,
- Fibonacci Levels,
- Elliott wave theory,
Here you can get acquainted with the teaching step-by-step guide for beginners. And, by the way, I totally recommend buying trade courses BO.
- Practice trading binary options
Well, the theory is certainly good, but the practice has not been canceled. The best advice on trade binary options: practice at least 2-3 hours a day. If you want to learn how to see the market eye traps on the market feel, etc. -will have to practice every day. But do not trade too much (more than 6:00), otherwise, the eye will start to “trading”, and instead, you will receive invaluable experience of very questionable porridge in the head.
Perhaps this is all basic recommendations to traders. Hopefully, these tips will help you quickly become professionals on binary options. In any case, learn new aspects of the topic, practice, ask-get experience, much needed in this case. And another tip for traders. Always check all incomprehensible points, ask for opinions from other traders. Perhaps the answer lies on the surface. Oh and about my predictions for the world of binary options in the 2019 year you can read here.