Very often, newcomers to binary options trading think that there are some secret methods, techniques or approaches that reveal all the secrets of binary options. But in fact, everything is much simpler and all the secrets and secrets of successful binary options trading have long been known.
Of course, you should not think that, having learned these secrets of binary options trading, trading will immediately become simple and anyone can start receiving a large and stable income. Proper trading, in addition to secrets from professionals, requires knowledge, experience and the most serious approach.
So, what binary options secrets are worth knowing so that it can start making a profit?
Secret No. 1: Learning to trade binary options
In this case, the essence of the secret of trading binary options is not that professional traders undergo paid training from binary options trading “gurus” or any similar training , but that every professional is always engaged in independent work on himself and improves his level knowledge.
Everyone knows the saying: “You can’t pull a fish out of a pond without effort.” And in this case, the “labor” is the process of learning, self-improvement and acquiring new knowledge, and the “fish” is the future possible profit.
To learn how to trade binary options profitably as quickly as possible, you should pay attention to:
- basic knowledge of trading;
- literature on trading ;
- articles on trading;
- training on a demo account ;
- trade analysis.
Basics of binary options trading
Beginners should definitely learn the basics of binary options trading at the initial stage. You can learn more about the basics of trading both from materials that are freely available and from binary options brokers who provide such training absolutely free of charge.
Books on trading
Those traders who already have basic knowledge should pay attention to books on trading, from which you can gain both some useful knowledge and get acquainted with the experience of the authors themselves, who often give their stories of successes and defeats.
Articles about binary options
To get information about a specific topic, you can refer to articles on binary options trading , from which you can learn a lot of new and useful information about the trading process and binary options trading methods .
Training on a demo account
Many people believe that a binary options demo account is not capable of providing any new knowledge and experience and that such trading is just a waste of time, but this is absolutely not true.
By trading and practicing on a demo account, a trader begins to notice various situations, which he can then see during real trading, since a demo account is always provided with real quotes and differs from real trading only in that it is conducted with virtual funds.
If a trader has a strategy or indicator , then on a demo account it will be possible not only to check it, but also to understand how to behave in certain situations on the market (for example, during news, increased volatility , flats , and so on).
Analysis of binary options transactions
It is also very helpful to gain new knowledge and improve binary options trading by analyzing your own transactions, which include not only unprofitable, but profitable options.
Thanks to the analysis of each situation, in the future it will be possible to immediately understand what can happen if you take this or that action, and therefore it is always worth analyzing your trading at the initial stage.
Secret No. 2: Risks of binary options
In fact, this binary options secret is one of the most important, and at the same time one of the most neglected by many traders.
Many beginners turn a blind eye to high risks, hoping that they will still make a profit, and if not, then they can always increase the transaction amount and apply the Martingale or Anti-Martingale system to “recapture” all the resulting loss. But in most cases, it turns out quite the opposite and a small loss is followed by a large loss, which ultimately leads to the loss of the deposit on binary options .
In order not to lose, but to earn, you should adhere to the secret of trading binary options about risks and always follow the rules of money management and risk management , which in fact are not so difficult to understand. Simply put, the investment amount in one transaction should never exceed 2-5% of the deposit. Also, a big advantage of taking risks in trading is that even with a long series of losing trades, the trader will always have the opportunity to gain profit, provided that his strategy is profitable.
Secret No. 3: Reliable binary options broker
Also an important secret that is often forgotten is reliable binary options brokers , since it is through the broker’s platform that all transactions will be made, as well as the profits made.
A platform for trading binary options is important for other reasons that can affect trading, but the main thing when choosing is not to fall for scammers , of which there are a huge number now.
There are many types of fraud in binary options , and the most famous are banal blocking of trading accounts with large amounts without compelling reasons, as well as non-payment of profits. Therefore, before starting trading, it is important to choose a company that will allow you to trade binary options comfortably and profitably.
Secret #4: The Binary Options Grail
In this case, we are not talking about risk-free ways to make money (which do not exist) and not about the “Grail” for binary options , but about the fact that one of the secrets of profitable traders is the understanding that there are no paid or free strategies, indicators, robots and any other systems for making money on binary options that will bring profit only after clicking on the “Call” or “Put” button.
Even if a trader purchases some kind of paid product, it is always worth checking it on a demo account, and also using a certain approach, if, of course, the purchased instrument can generate at least some income at all.
The same should be said about transferring funds to management, which in 99% of cases ends in losses and loss of funds, since managers do not risk anything and therefore can trade without taking risks.
Secret No. 5: A working strategy or indicator for binary options
As has already become clear, there is no point in spending time looking for systems that bring profit in 100% of cases and it is better to spend this time selecting an effective indicator for binary options, a trading strategy or any other working method. Therefore, secret number 5 is that a professional trader has a trading system that he knows and understands perfectly, and that is why it brings him profit.
It is also important to understand that it will not be possible to take someone else’s system and start using it successfully, since each trader has his own vision of the market and the situation. Therefore, it is important to work through and understand how the selected trading strategy works, and then test it on a demo account.
When testing, trading should be carried out not only on “ideal” areas of the chart, but also on problematic ones. Full testing should include trading on:
- trend areas of price;
- flat price areas;
- volatile price areas.
Thanks to this approach, you will be able to see all the strengths and weaknesses of your strategy, and then apply it only when it can bring maximum profit.
It is worth noting that all this may take a lot of time, but in the end it will provide both the necessary experience in binary options trading and a working trading method.
Secret #6: Trade only with the trend
No matter how profitable a trading strategy is, it can be improved by trend trading , and this binary options trading secret is even more often ignored than trading risks.
About 90% of trading methods do not bring profit only because most of the signals are made against the trend. The only exception is scalping on binary options , since it does not matter what the current trend is and transactions do not last longer than 1-5 minutes.
In other cases, even the most popular methods will bring losses, and traders who used them will believe that all these approaches do not work. Examples of such techniques that can bring profit when working with a trend include:
For example, you can consider a candlestick pattern such as the “Pinbar”, which appears quite often on any market and any time frame :
As you can see, when trading with an expiration of more than one candle, Pinbars against the trend will more often bring a loss, and since it is difficult to predict how the price will behave on the next candle, most traders prefer to trade with longer expirations, and therefore trade trend trading will be more profitable in the long run when used in conjunction with other techniques.
Secret #7: Psychological preparation
Psychology in trading is a very important secret of binary options for all professional traders, since discipline and the right emotional state are directly related to profitable trading.
In trading, it is very important to control your emotions in any situation, and we are not only talking about losses, but also about profits, since they can also negatively affect subsequent trading, no matter how strange it may sound.
When you receive a loss, there should be no desire to win back and return what was lost, since losses in trading are normal and everyone receives them. The loss must be systemic and must be taken into account by the trading system, since if the losses are uncontrollable, then the trader’s emotional state will be very unstable, which will ultimately lead to a loss of funds in 100% of cases. This is why it is important to adhere to the established risks, since a small loss is unlikely to affect the situation, and if they are followed correctly, it will not grow.
When a trader makes a profit, it is also important to stay in the right frame of mind and not let emotions take over, since a good trade can lead to strong euphoria, which in turn will entail making new trades already on emotions, and not because a signal has appeared. system. And if these transactions bring a loss, the next ones may already be made due to negative emotions and the desire to win back, which will only make things worse.
Secret #8: Using Volumes
This secret of binary options trading is not the most important and understanding it will not give special advantages to beginners, since the use of volumes in binary options trading is quite difficult to understand at the initial stage and includes different approaches that use both horizontal and vertical volumes.
Professional traders use volume trading quite successfully, and both real and tick volumes will do. The vertical volume indicator is available in every MetaTrader 4 terminal and also on the TradingView platform , and horizontal volume indicators can be downloaded from our website:
Conclusion
Now, knowing all the above secrets, every trader will be able to take their trading to a new level and start making money on binary options. But it is worth remembering that this will require a lot of effort and a lot of time, since trading is a serious business that requires a serious attitude and approach. We wish you successful trading!
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