Good day, dear reader! If you want to make money on binary options, but there are so many strange and different information — this is a guide for you. We assure you that if you follow all that is written here, you will reach a stable income in 5 months after the start of trading on this benefit. Sounds like a challenge, doesn’t it? Go ahead, you will succeed!
With respect, author of this book
What does a trader need to not lose his money on binary options?
Let us examine in details each of the sections:
— “The psychology of the trader” includes many factors, but most importantly you need to remember — your enemies are greed and pity. Greed breeds pity, because of the desire to earn more in a short time, we all lose. This should be accepted and try not to let it into your life. Go back to this section every time you want to make an “extra” trade.
— “Money management” — is how much the trader puts for 1 transaction; “risk management” — the number of transactions for a certain period of time. In general, a trading plan is made up of money-and-risk managements.
— Finally, the last thing a trader needs for successful binary options trading is a profitable strategy. Yes, you heard right — it is the last thing a trader needs for successful trading. This does not mean that you can not take it into account, it just means that it is not more important than psychology and the trading plan. A trader who makes 80% of successful trades without a well-thought-out trading plan will easily lose money during those same 20% of unsuccessful trades, while a trader who make 65% profitable trades and a well-prescribed trading plan will withdraw larger amounts each time.
Now you know that it is really important to know the trader, regardless of size of his deposit and abilities.
Before you begin to follow the guidelines in this manual, you should consider a few things: do not trust 100% of each number. The market is a market, nothing can be predicted with absolute accuracy, however, following the instructions, you will be able to restore order in your binary options trading and, at least, stop draining money, and then really start withdrawing.
Let’s moving on to the main — the trading plan.
Our goal is to reach 500$ 5 months. To do this, we need about 500 trades (about 100 transactions per month). Let’s divide the whole period into equal blocks; each block is equal to 100 trades. On the day we will make no more than 3 transactions. Make a table for yourself, as shown below. Each column must contain 100 transactions. It is not necessary to prescribe all the trades at once, just add them as they are completed. We will trade at a fixed rate, start with $ 1 (10% of the deposit), and gradually we will increase profits, reducing risks, that is, to put 5%, and then less and less and 2% and will stop in 2%. We will choose assets only with a yield of 80%.
First, let’s make a table for the first block.