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 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.
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.
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.
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.
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. Information taken from internet and added as per people opinions.