Binary options tip 1: 1 hour options trading One should trade at least 1 hour options so that binary options do not turn into pure gambling. Although the 60-second options are exciting, they almost become complete gambling here. To allow a precise measurement of more than 65 percent, the1-hour options or longer durations should be used.
Binary options tip: Credit management Those who wish to profit long term need disciplined cash management. Cash management As a merchant, only 5% of trading capital should always be allocated per trade. Many traders also attempt to offset losses with higher market prices, but with this strategy one usually loses even more. Therefore, play with the same market price relatively quietly.
Binary options tip 3: Trades with binary options are not emotionally traded if you are calm and balanced at best. Everyone who is emotionally upset risks often more than they need, and the returns are quite obviously lost.
Binary options tip 4: Knowing the market very closely As a dealer, keeping an eye on the markets and knowing them well is very important. At best, you should trade with stuff that is well known. If you know the shares, for instance, but you don’t know about commodities, trade with the shares. To react to them, you should take a look at the most important news and events.
Binary options tip 5: maintaining a trades diary One should also learn from mistakes to become a successful trader in binary options. That’s why a diary on all revenue and losses is very important, so that we learn about your mistakes not to turn them up for a second time, hopefully.
Binary options tip 6: You have made a loss? Then take a break for yourself! If your trader has just lost, you are often emotionally upset and want to make up for that loss as fast as possible. However, a lost business can burden you too very quickly. Therefore, just take a break and only keep dealing with it once you have relaxed. You can deal with it in the same way with a profit and start a small break, since even the profit can cause emotional upheaval.
Binary options tip 7: Additional education As a merchant, as you are always up to date, is very important. Hence traders should, for example with reference books or different websites, always expand their knowledge.
Binary options tip 8: Always mobile In order to enable traders to react to events as quickly as possible, a platform should be selected that also has an application for your mobile phone. You can thus react anywhere and any time to news and events and profit as much as possible. Traders are tested here on all the key points and the necessary background information on binary options is provided for those who are interested. We wish you a successful beginning!