The Secrets to be a Successful Binary Options Trader

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Learn Binary Trading Options Using This Secret Tips – Make over $1000 Daily

Table of Contents

Just like trading forex, there are several binary trading tips you need to know to become a successful trader. Binary options can simply be regarded as financial instruments that assist every trader to run all types of transactions like stocks, crypto, forex, indices, and futures. It is considered as one of the easiest forms of trading wherein a trader can maximize profit within a short period of time.

The way it works is that a potential trader needs to open a live trading account, foresee the later price of a specific asset, select the low and high limits of your trade, and then submit the transaction. For a binary trader to succeed in every transaction, there are certain vital steps to consider.

This piece offers five (5) binary trading tips for every successful trader.

Learn how to trade Binary Options like a Pro

5 Best Binary Trading Tips for Successful Trader

Begin with a Demo Trading

After selecting a particular trading method, the next to do is to opt for a demo to fully understand some strategies in the market situation.

Past examples indicate that this strategy that worked successfully in the past may not be feasible when applied in the current market situations.

One fantastic benefit of a demo account is that it offers a trader the opportunity to develop profitable trading skills and abilities without putting their money to risk.

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    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Therefore, this step is helpful for traders who are new to binary trading.

Start Investing with a Small Amount of Money

It is imperative to start your trading with a very small amount of money at first to start your first trade. In my honest opinion, you should start your trading with as little as $50 or less. After you trade and feel comfortable with your trade or even make a little profit, then you can be free to increase your trade investment.

This is one of the secret binary trade tips that most successful traders use to beat the system and acquire lots of profit.

Get a Professional Broker

There are several novice traders who are very quick to choose a broker. It is ideal you consider factors like minimum deposits, withdrawals, payout percentage, and customer support before opting for a binary options broker.

Getting the required broker is one of the most vital binary trading tips that can guarantee an immeasurable success in binary trading. It is always wise to review and test the best binary broker that can guarantee you a fantastic trading experience.

You can find a good number of experienced binary brokers on the internet.

Update Your Knowledge

Trading binary assets require deep knowledge. This is a strategy that can keep you in business for a reasonable period of time. One way to achieve this feat is to constantly research current trading tips that are applied in the market.

This strategy is very helpful especially if you choose to have it as a passive income. If you go into trading without adequate knowledge, then you should not consider going into binary trading.

The end result of this is a colossal loss of resources. Therefore, to be on a safe side, it is ideal you first decide why you want to trade before venturing into it.

Strategy is Important

It is a fact that every trading requires strategy. In this case, traders make use of signals to successfully trade binary assets. These signals work like beacons which serve as a guide for both new and experienced traders.

Another benefit is that the signal helps a beginner to clearly understand binary options. Signals guide the new trader to develop a personal strategy, which makes that trader very unique.

In the process of learning new strategies, a beginner trader gets the opportunity to improve their practical skills.

Both experienced and beginner traders make use of signals to maximize profit in their trading. The importance of this is that it helps traders to predict the high and low- price limits of certain binary assets. They predict transactions that have high chances of profitability, provided they come from the sound analysis of financial instruments.

Understand Risks and Rewards

To succeed in binary trading, you need to first understand that there are no perks or giveaways. Even with the ease in binary trading, a trader needs to pay special attention to every transaction.

It is very important for a trader to understand that binary option is not a game, but a profitable job.

This is the reason you need to have adequate knowledge of binary trading tips; the assets involved, how they work, tools used, types of options, and the experience of other traders.

Develop Trading Plans

Normally, every trading is backed up with an expected goal. If this is not in place, the trader may not advance in his trading career. This clearly means that every trader needs to have a road map of their trading activities.

In addition to this, it is vital to have a second plan for any task. In the event of any uncertainty, the trader will be able to remain stable.

How to start? Write down a trading plan, develop a sheet to track your trading activities, and be realistic in all your dealings.

Normally, most of the trading platforms have a function to track all trading strategies and activities.

Do not overtrade

Overtrading is a regular mistake for beginner traders – especially for traders who are in for just the short term trade. It is difficult not to overtrade if you are one. Overtrading means to trade a high volume in different trades.

To avoid this mistake, you must make a rule of a certain amount you shouldn’t exceed while trading – win or lose. The problem is the concentration of human consciousness

Also, it’s imperative to take breaks – a long one from trading just to relax and recap for a while. Short-term trades are one of the hardest to trade in the market because the price fluctuates very fast.

Binary trading price graph

I personally do recommend to trade a maximum of 2 hours and then do a break for 10 minutes. Don’t become addicted to the markets. Your account would get blown up frequently if you don’t trade rationally.

Here are some quick tips

  • Spend one-hour trading the markets
  • Take a break after it
  • Start again for just an hour
  • Create a daily time limit and trade limit

Live a Balanced Life

Most times, a successful binary trading does not count on the amount of money you have made, but the fun you got from it during the day.

You are free to set a personal target. After said and done, you just have to stay away from work or making money and enjoy your life.

It is very important to have a balance between personal life and work life. With this, you would get to the zenith and achieve the much-expected results.

Always Learn and Test

Once you succeed in your demo trading, it is expected that you move immediately to trade on live platforms. Always try to learn and test new things. Trying new things means taking new challenges. Nevertheless, it is ideal to test new things in a demo platform before using real money to trade.

Please note that every successful trader has different styles of trading. To know more of this, kindly contact guru traders and get some helpful ideas from them.

Conclusion

Though I have meticulously listed the various binary trading tips to help your trading, it does not mean you must follow the steps. You are free to draft your personal trading plan based on your daily schedules.

The steps listed in this piece will help you begin your trade at the early stage. Therefore to succeed, you need to lead a disciplined trading life.

Don’t read for just yourself, share with your friends – because you love them. Please.

Successful Options Traders Understand The Secret To Success: Liquidity

Professional Options Traders use numerous methods to evaluate the worthiness of a prospective trade. A laundry list of tools is evaluated in anticipation of establishing a trade which will provide an excellent rate of return on investment. The list of factors to review might include: fundamental analysis, charting, Implied and Historical Volatility and a multitude of other Option Valuation techniques. All of those factors are important however, if one is trading options in an illiquid market, the likelihood of making money in the long-run is greatly diminished.

As a former market-maker on the floor of various exchanges, I am acutely aware of how significant a portion of profit or loss can be attached to the simple analysis of the bid/ask spread. The bid/ask spread, is also known as liquidity, edge or vig. When markets are liquid, the costs of implementing positions enable traders to establish positions without significant cost. Whether you are Selling Options for Income or establishing more complicated positions, without liquid markets, the long term success of the trader is compromised.

Whenever you are establishing a position you should calculate the cost of initiating the position as a percentage of the underlying options they are trading. For example, if a Call has a Bid of 1.00 and an offer of 1.01 then it would have a market that was 1% wide. This is a way of measuring liquidity. The Table below shows the liquidity percentage for numerous options contracts for Stocks and ETFs with May expiration. The wider the spread, the more difficult it is to make money. For example, if an option has a Bid of 1.00 and an offer of 1.15 then it has a 15% spread. Depending on the Delta (the movement of the Option Value compared to the movement of the underlying contract) of the Options, you have to have a significant move in your favor to make money. If you Buy the Option on the Offer at 1.15 and are going to Sell it on the Bid in order to liquidate, then in order to make a profit on a .50 Delta Option the underlying would have to move in your favor more than 30 Cents. Establishing a position in this environment, where you are constantly giving up such an edge, will prove disastrous.

As you can see from the Chart below, it is relatively simple to calculate the liquidity percentage, but it is an essential part of the analysis for any trader. In addition, liquidity should only be evaluated for the out-of-the money portion of the Option. If one uses the in-the-money portion, it places too much value on the portion of the option that relates to the underlying contract instead of focusing on the bid/ask spread of the “time value” portion of the option. Also, keep in mind the Delta of the Option that you are trading. The smaller the Delta, the more difficult it is to compensate for the liquidity costs. The Option only moves at the Delta’s percentage of the underlying. Therefore, an Option with a Delta of .25 will only gain 25 cents for every one dollar move in the underlying. Whenever analyzing an Options Trade evaluating Liquidity Costs should move to the top of your list. Instead of establishing positions in illiquid options, you can look for trading proxies by using other instruments that provide a high correlation to the underlying contract you intended to trade, but with significantly greater liquidity.

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Examining the fundamentals, charts and a multitude of Options Greeks and Trading Strategies is a necessary requirement for all Options Traders, but without the liquidity test, your success as an Options Trader will be short lived. Options Markets are unforgiving, but with the aforementioned due diligence, profitable trades are more likely.

OPTIONS TRADING INVOLVES SIGNIFICANT RISK AND IS NOT SUITABLE FOR EVERY INVESTOR. THE INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE, BUT IS IN NO WAY GUARANTEED. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS.

The Truth About Binary Options: #11 Facts

#1 Avoid Unlicensed Binary Options Brokers

Why are unlicensed binary options brokers dangerous? Although officially outside EU/USA it’s not required for a binary options broker to be licensed, it is very much recommended to trade with a licensed broker. Some traders and many governments doesn’t care if a broker is licensed or not and they treat all them the same way, as if license doesn’t provide any advantage or goodwill. Actually, it does.

There are a few advantages for a trader. First, you have a chance to complain if you face any kind of fraud, like delay of payments, blocked account or manipulation of market data. CySEC has fined many brokers and the fines were not nominal. Second, a licensed broker cares of his reputation, because when a fine happens, this is a huge news in the industry and competitors will be happy to make such case as loud as possible. So in many conflicts you will be able actually to negotiate effectively, just telling the broker, you can go all the way to the regulator.

CySEC, based in Cyprus, is the most widely used regulator and it is also very reachable and active, but there are others, who work with binary options brokers, like UK’s FSA, BaFin from Germany, Spanish CNMV, Indian SEBI, – all good.

Only make sure, that the broker’s license is currently valid, as in some cases brokers were deprived of licenses due to various wrongdoings, or have abandoned regulators voluntarily.

#2 More Than 50% of Traders Lose Their Deposit on the First Day of Trading

How not to lose your deposit on the first day of trading? Unfortunately, it’s a common situation. A person comes to binary options or to forex trading or to any market all and loses all the money he has got to trade during the very first day. So how to avoid this? The strategy is very easy – don’t use the whole of your deposit during the first day.

The first day of trade is your first test. Can you stay cool, can you keep your head cold, can you limit yourself and keep your trading within firm borders of 10 – 20% of the deposit. If you can, you can be a successful trader.

Control your emotions, control your behavior, stick to your strategy,- those are the main qualities of good traders. Knowing how to use the charts and trading tools is secondary.

You will master the market if you can master yourself.

#3 Shady Brokers Will Try To Convince You To Keep The Money (Until You Lose Them)

How to withdraw large earnings from binary options brokers? So, you made it and you have earned thousands, or even tens of thousands dollars on binary options! Congratulations, but it will not be a complete feeling, until you don’t have a significant sum in your pocket. And here are a few moments you should know about withdrawing lots of money form binary options broker.

  • First, a broker will try to convince you to keep the money. Of course, brokers are not really used to deal with winners, only as little as 1-10% of traders win and withdraw significant money. But they have strategies to make the numbers of withdrawals less. They will offer you huge bonuses, a personal manager, risk free trade, secret strategies,- everything to keep you trading, trading big, risking and eventually making a mistake. Don’t succumb. If you have in mind a certain amount of money you want to withdraw, stay cool and stand firm. Get your hard earn profit, celebrate, and then risk with the remaining bank.
  • Second, there are limits. In all the advertising brokers promise 1 hour withdrawal and usually it works with small sums. But deep inside terms and conditions you will find, that a broker actually can be very slow in sending your money, they can start a very slow so-called “confirmation” process, and sometimes it will take months to get your winnings in full, particularly with small brokers.

So trade with a large licensed broker (like IQ Option, Binary.com or Olymp Trade) and have a clear strategy – how much money you are ready to keep and don’t let any “exclusive” offers shake that.

#4 What Are The Three Worst Mistakes Of A Beginning Trader?

First of the worst mistakes is trading on a very short timeframe, when you can’t predict anything and rely on fortuity, not on calculation.

Second, lack of risk management. You must know and control your risks. Don’t do too many deals in a short period, or don’t bet on vey “costly” deals when you use too much of your deposit. Those are the ways to lose everything, in case of mistakes it will be pointless even to analyze them, because you will have no money to strike back and use the experience you always gain from your losses.

Third, choosing the wrong broker. You can be a genius or you can learn to be a very good trader and make lots of profits, but if you choose the wrong broker, you will be cheated and the broker simply will not pay you. So always choose a licensed broker with good reputation.

#5 What Is The Main Quality Of A Successful Trader?

Self-control is the main quality of any successful trader, you will not find a really successful trader who makes rush decisions and keeps braking the borders of his strategy.

You need to set the limits, how much you can afford to lose, how much you are ready to spend on one deal, how much risk you are ready to afford in your strategy,- and stay within those limits.

Before each deal you need a clear idea, why are you doing this and why it will work, if you are mistaken – recognize this, take time to analyze, make new strategy and keep going.

Remember, you need to limit yourself both in situations of losses and high wins, so that you will not lose too much in one case, and leave the game as planned, taking the profits in another case.

#6 How To Double The Amount Of Successful Deals?

The answer is – make less mistakes in your trading. How to do it? Trade on longer timeframes.

Why longer timeframes are better? You will have more time to analyze the situation and make a decision on whether to make a deal or not. The more time you have to decide, the less mistakes you make.

By the way, if you choose not the first class broker, shorter timeframes are even more dangerous, because lots of frauds and cheating on the broker side are carried out with traders, who choose shortest timeframes.

Reduce the amount of your deals, increase the time between your deals – and you will lower your risks and raise your profits.

#7 Why 99% Of Trading Systems Don’t Work?

Lots of brokers offer trading systems to their clients nowadays, as well as other parties on the market, like financial consultants and various market gurus.

There are two reason why most of those systems don’t work.

First, those ideas may have been brilliant at first. But any successful strategy, when it is promoted and offered for copying by many traders, eventually simply stops working.

Second, some strategies are actually designed to work against you, those are the strategies offered by brokers. Yes, you may benefit from them for some time, but in the end the broker wants you to lose and you will lose if keeps working within the inflicted strategy.

The only strategy that works is your own strategy, when you choose the required risk tolerance, trading instruments that you understand, and timeframes that are not too short.

#8 What Are The Three Common Delusions About Binary Options?

  • People see the high profits of binary options trading and lose sight of high risks. Risks and profits are interrelated, if there’s a chance to win a lot, there’s a high chance to lose everything.
  • People want instant success. With binary options you can earn quick money, yes, but this will not last. If you are a beginning trader, who instantly wins, you will probably experience losses very soon. Be ready for a long game and, lots of high and lows and keep control of your emotions in good times and in bad times.
  • Easy money – people think binary options trading is a very easy thing, but it’s not. You will have to learn to be a successful trader, and you will have to pay for that education – with your nerves and with your money.

#9 Is It Possible To Become A Millionaire By Trading Binary Options?

Many people ask the same question: How to make millions by trading binary options? First, there are no credibly cases of millionaire traders, who made fortune on binary options. A more realistic strategy to earn millions, is start with binary options and forex, build small fortune and move on to other markets, where you can earn millions.

There are two things to consider, if you want to make millions with your trading.

First, you can’t just come to the market and become a millionaire immediately, the secret of millionaire traders – they all have vast experience, that helped them to create a unique trading strategy, backed by some brilliant ideas. To have a brilliant idea, that will be a base for a winning strategy, you’ll need to have lot’s of ideas. And that means test lots of ideas and lots of strategy, losing and winning on the way.

So as a beginner you should be ready for a long game.

Second, how much money you make depends on how much you can put in to start with, and to earn millions you’ll have to put in hundreds of thousands. But for hundreds of thousands binary options market is simply not safe enough.

#10 Why You Shouldn’t Trust Your Binary Options Broker?

Whatever your binary options brokers tells in his advertising, he makes profits only when the traders lose, so he is not interested in your success.

Of course, it doesn’t mean that you can only lose. On the one hand, there’s regulation, and good binary options brokers are accountable, on the other hand, there’s competition, and brokers value their reputation and don’t want scandals.

But you should be ready, that even the best brokers will want to cheat you.

First, some brokers offer you managers, that give trading advice, to some extend that advice could be helpful at the beginning, but the broker will not want you to end up with huge winnings, so on later stages advice will be misleading.

Second, the brokers will try to convince you to trade more and to take more and more risks. They will offer exclusive conditions, only to keep you trading. Don’t listen, have your own limits and take out money when you win.

#11 Do You Read Terms And Conditions?

In any industry terms and conditions will contain surprises, that will go against what you see in advertising or what sales people tell you.

In binary options there are several things to consider, so make sure you read terms and conditions before you choose the right broker.

First, some brokers will charge you with 2-5% of the money you want to withdraw, sometimes there’s even a minimum limit of this charge, 10-30 USD (but no maximum limit), so if you withdraw 50 dollars of winning, your broker will want to keep 30 of them. This is not because a broker wants that 30 dollars badly, this is because a broker wants you to keep going, keep trading. So in such case just understand, that your broker charges this money and withdraw your winnings anyway, if such was your strategy.

Second, your broker may have the right to keep your money if they are not satisfied with your documents, officially it is said to be targeted against money laundering. But in fact it is often used to keep the money of hugely successful traders. Your broker doesn’t reject your withdrawal, it just puts it on hold and keeps asking for more and more documents, that may last forever. So trade with a licensed broker, in this case you will have an option to complain.

Finally, there are commissions, and with commissions you can do nothing. Some brokers charge commission if your trading account was inactive for 60 days, some – charge several dollars every month from every trader, others charge commissions on your winning. For this you just need to be aware of.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

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