Conspiracies and signs for good trading at the market or in a store. Forex trading methods
Sales is one of the most controversial and promising professions in the world. Sales are carried out by people, both without higher education and with three educations and an academic degree. Sales are carried out by salespeople behind the counter and by managers of large companies in large, spacious offices.
A lot of people love to sell, and a lot of people hate doing it. But sales can help you always have an interesting job, generous bonuses for your efforts, and opportunities for self-development that you will not get in any other profession.
Salespeople are not born; every person, man or woman, young or old, with an economic or technical education, can learn to sell.
Here are 17 rules of success that will help you learn how to sell:
1. Set yourself a goal.
Until you tell yourself the following phrases, state your intention, and believe in your own abilities, you will not be successful in sales. Phrases for self-motivation for sales training:
- “Yes, I want to learn how to sell!”
- “It’s important for me to learn how to sell!”
- “I take responsibility for my development and my successes”
“I promise myself to achieve my goals”
2. Imagine the future.
Imagine yourself in a year, you know how to sell perfectly and earn several times more than now. Imagine what you would like to achieve in a year, what to buy, where to go, where to live. Imagine it all in such a way that you want to achieve it. Do you really need this? Why are you going to learn to sell? It's worth it! Then go ahead!
Think about what you do best when communicating with people. What is most difficult for you? Every day, choose one of your strengths and one of your weaknesses and set yourself goals to make them stronger and stronger. Strengthen what is given and tighten up what is weak. For example, if it is difficult for you to work with client objections, then devote time to this every day (write down the most important ones, and look for information on how to respond to them, so that you always have convincing answers to “Expensive”, “I’ll think about it”, “I I’m just looking”, “I don’t need anything”, “You haven’t convinced me”, etc.)
4. Study your product and competitors' products.
Find out everything about your product, ask customers what they especially like and why they buy. What did you compare it to when you chose it? You will soon become an expert and will be consulted.
5. Watch other sellers.
Notice what you like about the behavior of other sellers and try to do the same. The most interesting finds include your seller's arsenal. Look at other people's mistakes. Think about how you could serve the customer differently.
6. Ask buyers for advice.
Never argue with a buyer. It’s better to find out why he thinks this way, what he will advise, what he thinks is better in this or that situation. If the Buyer has refused the purchase, ask if he can give you advice for the future as a seller.
7. Find a mentor.
8. Read 2 books on sales per month.
Yes. Two books a month. You already know everything, there is nothing new in them. Sales books are for beginners. It is precisely because you think so that you now have such results. Look for diamonds, don't reinvent the wheel. Download the materials from the book “111 Tips for Sellers. How to Become a Better Seller” (link to Google Drive)
9. Analyze your work.
At the end of each day, ask yourself what you did best and worst in sales that day. Analyze your work and draw conclusions. No conclusions - no development.
10. Work for the future.
Do your job 10% better than what is required of you. And in a year you will receive 50% more than you expected. To receive, you must first invest.
11. Show persistence, confidence and patience.
Try to help the person as much as possible; at the moment of communication with the buyer, this is the most important person in the world for you. Listen, clarify, demonstrate confidence and a desire to help. Take as much time as you need. It may seem to you that this buyer will never buy, but if you analyze 100 of your buyers, you will see that they made the largest purchases thanks to your attention, and you could not always imagine that they would buy so much from you.
12. Create loyal customers.
Think ahead, offer something that the buyer will only think about tomorrow, help him see the future, take advantage of new opportunities and get rid of problems. Incorporate personal touch, charm, and invite customers to come back for more. Exchange contacts with buyers, sell to friends and friends of their friends.
13. Be a good listener.
Ask questions, ask more and talk less. Successful salespeople know how to make the client tell everything about himself, and even sell to himself what you wanted to tell him. Learn to be doubly attentive listeners on the phone, be sure to develop your phone sales skills at!
14. Never give up.
There will always be failures. Enjoy them - they develop you. What did this failure teach you? What will you do differently next time?
15. Attend sales training.
Each sales training gives you the same amount of experience and practice as you get in half a year of successful sales work. Trainings develop you instantly, trainings save your time, trainings help you improve what is difficult for you to develop in yourself without other people. Attend all the trainings that you can attend in the company, and if there are none, then go to a good open training in your city. Invest in yourself, this investment pays off the fastest! This is the quality of your life!
16. Create your environment.
Connect more with people who believe in you, support you, and inspire you.
17. Always continue your development.
Life is an escalator - which goes down, as soon as you stop your development, there will be a lot of temptations to waste your strength, time and energy. Think about the future. Live in the moment. Sell with pleasure. Be sincere. With your help, there are more joyful and satisfied people in the world every day! The buyer is your friend, show concern, help him in his situation and he will come back again and again.
Have you decided to improve your sales level?
Ask your manager if your company plans to train you and your colleagues in sales training in the near future!
Tell them that the fastest way to increase sales is to invite a sales trainer directly to your office so that he can conduct training for all sales department employees at once!
We can offer your company the following assistance:
Analysis of commercial offers and emails (do you want to know how competent and attractive what you send to them looks?)
Ask a sales question!
It can be very difficult for a person who is far from trading on the stock exchange to take the first steps. Many questions arise, the answers to them have to be collected bit by bit on the Internet, unless you immediately find a good guide to the world of finance. An already established trader can shorten this path tenfold. But how to find it? Who can really teach you how to trade on the stock exchange constantly in profit in order to regularly increase your deposit? Some points will be clarified in this article.
Where should a newbie in trading start?
We are bombarded with Forex advertisements from literally everywhere - you can find them much more often than offers from brokers for trading futures and shares on the stock exchange. Why is this happening. The fact is that trading currency pairs on the international Forex currency market is available to literally all people. It can be started with a minimum amount of money. And in order to learn, you don’t need money at all - many brokers offer opening a demo account for an indefinite period. In the same way, you download the platform for trading and the quotes in it are the same as on a real account and all the functions are exactly the same, it’s just a virtual account, there is no real money on it. Therefore, if a person does not know how to trade on the stock exchange, he can try his hand without fear of losing his savings.
How long does it take to study on a demo account and when to switch to a real one?
Experienced traders have slightly different opinions on this matter. But everyone advises not to stay too long on a demo account, since trading on it is still different from trading in real life. Not the functions of the platform and not the quotes, there is a much greater difference between a real and a demo account - the psychological component. As a rule, learning the rules of trading on the stock exchange and learning how to use two or three popular indicators is not difficult. Many novice traders almost immediately begin to show good results on a demo account, but in real life they begin to lose money. Don't blame the broker for this. The main obstacle to stable earnings is the psychological aspect. By all accounts, work on psychology is never finished.
Opening a demo account does not oblige us to anything. Therefore, you shouldn’t think too much about choosing a broker at this stage. But later this choice becomes very important. On the Internet you can find a lot of advice for novice traders, a huge number of reviews that list the main points of the trading conditions of different brokerage companies. They differ, for example, in the size of the initial deposit. The most democratic offer to open a cent account for 10 dollars. The money is very real, trading is carried out in cents or even fractions of cents. Of course, there is no need to talk about significant profits here, but a cent account can become a bridge when switching from a demo account to real trading.
Best markets to trade
When the first trading experience has already been gained and the price charts do not seem like gobbledygook with incomprehensible spikes up and down, you can think about better assets and a more careful choice of broker and exchange. Serious investors looking for the best ways to invest and increase their capital have a choice of three options: trading on the Russian, European and American markets. There are also more exotic options: India, Asia, Australia. In practice, few people seriously consider these markets. The reason lies in volatility, because the more volatile the market, the more profitable it is to work on it. In this sense, the European and American markets are considered the best. Although trading shares and futures on the Moscow Exchange is also very popular among domestic traders. There are many special educational materials on how to start trading on the MICEX exchange.
What is the best way to trade?
The choice is between stocks, commodity futures, options or currency pairs on the Forex market. Bloomberg broadcasts quotes for a huge number of financial products. We are talking about millions of shares. You can’t help but get confused when you think about where to start trading on the stock exchange. Is it realistic to trade all the offered assets? Of course not. Just to view them will take more than one month. Forex is simpler in this sense; it does not confront the trader with such a huge choice. Most brokers support the ability to trade several dozen major currency pairs. Of these, up to ten assets are the most popular: EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD, AUDUSD and their crosses. As a rule, a person working in the Forex market manages to look at the main pairs before starting trading and select the most promising ones for the current day or week. Trading shares on the stock market requires a different approach.
Selecting an asset in the stock market
Even after the previous tips for novice traders on market segmentation, the list turns out to be quite an impressive one. And again, it is not clear how to choose from it what is best to trade. There is no clear answer to this question. Many traders successfully trade currency pairs on Forex. There are also those who believe that trading on Forex cannot be compared with futures and stocks, where the volatility is much higher and you can earn much more. We must not forget that high volatility is also a double-edged sword; it allows you to make good money, but you can also quickly lose everything. Much here will depend on the individual qualities of the trader: character, skills, personal preferences. If you have already chosen a trading option that suits you, all that remains is to work on improving your skills in this particular market segment. Believe me, the market always provides a large field for activity, and you can improve your trading results indefinitely. For beginners, a few tips on how to become a trader will be useful - they are collected in the next section.
Some of the following secrets of stock trading may seem elementary, while others may seem dubious, but all of them are sealed by the destinies and losses of millions of traders. Before becoming successful, everyone went their own way, usually through deposit loss and personal dramas:
- Do not use all your savings for trading. Invest in a new business only such an amount that you can lose without drama or significant damage to the family.
- Learn to take losses calmly; they should not disturb your sleep, just like successful days in the market.
- Don't think about profit while trading.
- Don't change your mind during the bidding process. Analyze the situation, make a decision that clearly outlines the moments of closing a position, both positive and negative, and do not retreat under the pressure of the market.
- Learn to make your own decisions and not be fooled by the judgments of others. Trading is an almost intimate matter, you need to learn, but in the learning process you must develop your own trading style and your own strategy.
Sometimes it is useful for a participant in exchange trading to simply take a break from trading. Do not despair if nothing works out and all trades are unprofitable. It seems that the car has already received the information, but there is no point. If you find yourself in this, take a break. Forget about profits, don’t expect anything from the market. After a while, you will return calm and balanced and everything will go like clockwork. This advice will be especially useful for those who absolutely cannot tolerate drawdown. As soon as the price goes in the wrong direction, your nerves begin to give in, the deal is immediately closed, and literally after a short time the price goes where you expected. A break for a couple of weeks will be of invaluable help in such a situation.
When will the first success come?
At first, trading will never become your main activity, even if you enjoy the process. There are different opinions regarding the timing of development, but all experienced and successful traders talk about years. Therefore, if you have just come to the exchange, you should not think that trading is not available to you if nothing is working out yet. Time must pass, without personal experience, the general opinion is that no matter how much you study, you will not become a trader. There are too many nuances in trading that cannot be perceived in a short time. Is it possible to become an engineer in six months? Trading is a profession that is equally complex and takes time. Of course, by being trained by a trader who has been trading successfully for a long time, your own process of development can be significantly accelerated. But it will take at least several months to feel confident on the stock exchange.
Minimum tools and indicators to get started
Try not to spread yourself across many assets at first, and use a minimum of indicators when trading. It's better to learn to use one or two of them, but study them thoroughly. This will be of more use than jumping between different strategies and different tools. The famous trader Alexander Elder, and not only him, advises using one indicator from different groups: one oscillator (for example, Stochastic or MACD), one trend indicator - Bollinger bands or moving averages, and one volume indicator. This is the minimum set that is always present on any platform of any broker. The general consensus is that even with this set of standard indicators, you can build many profitable strategies on different time frames and for different instruments. There is a lot of information on how to trade on the stock exchange using these indicators - if you thoroughly study the work of the main ones, success in trading will not be long in coming.
If you trade currency pairs, take one or two pairs to start with, no more. When the result is consistently positive, you can begin to gradually increase the number of tools. For those who trade stocks or commodity futures, the advice is also relevant: choose assets from the same commodity group that can correlate with each other. Let's give an example of how to trade stocks on the stock exchange using the correlation between assets. If in the group of legumes there is a clear increase in prices for all instruments except soybeans, it makes sense to prepare for sales on this product - it is obvious that at the slightest hint of a downward movement in the group, soybeans will be the first to rush down.
The following few tips can become the basis of a successful strategy, as they themselves provide valuable hints for opening positions. There are some patterns in price behavior depending on the opening of the current day or the close of the previous one. For example, if the price opened up, then with a greater degree of probability it will continue to go up. It is also recommended to open long positions if the price has consolidated above yesterday’s close and vice versa. This rule, in fact, applies to any time frames - if you scalp on minutes, you can also adapt it to your trading.
Choosing a trading style and timeframe
Now about timeframes, or how to trade on the stock exchange and Forex better - intraday, medium-term or long-term. The main task of a trader is to make a profit; what it will be is another question. There is no need to set yourself obviously impossible goals in the hope of receiving excess profits. Many beginners are interested in the question of how much interest can be “raised” in a week, month, or year. You shouldn't focus on this. At the first stage, it will be a great achievement if you learn not to lose your money. As for percentages, there are no clear statistics here. It all depends on the person, the strategy, the asset being traded and many other things. It is known that trading on small time frames can bring large profits in percentage terms, but it is exhausting, both physically and psychologically. Sitting all day under extreme stress - how long will it last? This approach can be beneficial for a short period of time, in order, as traders say, to “accelerate” the deposit to an amount with which it will be comfortable to trade in the future.
Over the long term, scalping or short-term trading can lead to exhaustion of the nervous system. Although there are people well-known in RuNet trading circles who do not change this style of trading and receive visible pleasure and good income from it. If you have just come to trading and do not know the difference between a trader and a broker (a trader is a person who trades on the stock exchange, and a broker is a company that provides intermediary services for traders), do not try to conclude more transactions. Let it be one transaction a day, but a high-quality one. Imagine that you are a hunter tracking down your prey for a long time. Watch, watch, wait, and finally, at the right moment, “shoot” a profitable trade. This style of trading will bring satisfaction at first, and over time you will understand what you like best.
With a larger deposit, more opportunities
Finally, we will talk about how to become a trader and work without the participation of brokerage companies. Some beginners are immediately interested in such advanced questions. How to trade on the stock exchange without a broker if you are a trader with very modest funds. You need to immediately decide that such an opportunity exists only for those who own fairly large capital. After all, the broker not only gets rich from our losses, but also brings a lot of opportunities to traders: it provides quotes and leverage, thanks to which a trader with a minimum deposit can participate in trading. The broker gives you the opportunity to use its platform, already tailored to the basic requirements.
Many accuse brokerage companies of manipulating quotes - after all, they have all the orders of small traders in the palm of their hands. All this has a basis. Therefore, large investors are looking for an opportunity to enter the international market without the mediation of a broker. However, the starting capital for trading without an intermediary must be at least $10,000,000. It is clear that the vast majority of traders without the participation of a brokerage company would not have the opportunity to take part in trading.
However, you must understand that No Dealing Desk, as trading without a broker is called, does not guarantee that your orders will not be read. In fact, real trading without a broker is only available to very large investors who can spend a lot of money on the appropriate software and hardware and have millions of dollars to enter the market directly. Everything else - renting a separate trading server from a broker or any other options - does not provide any special privileges or advantages.
In this article, I would like to present to your attention several small but very important nuances that can influence the results of binary options trading. If you understand and follow these simple tips correctly, you can certainly improve your binary options trading results in a significant way. Well, let's not rant for a long time and make long introductions, but let's get straight to the point...
The first tip goes like this: If you like to trade binary options on very short time frames, you should give up this bad habit and move on to longer-term trades on larger time frames.
There is a misconception among binary options traders that the shorter the option life, the easier it is to control the situation. But this feeling of control is just an illusion that has nothing to do with reality. In practice, the opposite is true. When trading binary options over short time periods, traders are faced with a huge number of chaotic and difficult to predict price movements. Naturally, they should be avoided, and increasing the lifespan of a binary option, coupled with the transition to higher timeframes, is intended to partially solve this problem. Some brokers benefit from you working on short time frames, increasing the number of trades per day and therefore increasing the chances of losing, because a large number of trades usually comes with poor analysis and superficial trading decisions. Therefore, trade binary options on higher time frames, avoiding buying options that expire in 5-10 or even 15-30 minutes, while taking into account fundamental factors before making a trading decision.
Next tip directly concerns trading on news. You should refrain from trading binary options on news, as well as right before and immediately after news release. Recently, market volatility on news has increased significantly and continues to grow. This means that predicting price behavior at this point becomes very difficult, almost akin to playing a game of chance, and this reduces profitability in the long run, given how much brokers usually pay in the money for options and, accordingly, what percentage of binary options should expire in money so that trading is profitable. Always make informed trading decisions taking into account the medium and long-term trends, there is no need to rush.
Third tip concerns the use of technical indicators. When trading binary options, you should not rely too much on technical indicators, especially lagging indicators. Moreover, financial markets are in a constant state of evolution, which means that most of the standard indicators developed many years ago no longer work as they should and need to be optimized. Remember that at the moment there are too many nuances affecting the market for all of them to be formalized. Therefore, you should not rely on indicators alone. When trading binary options, it is necessary to combine technical analysis with fundamental analysis to make informed decisions.
From all of the above it follows one more moment: Don't neglect the basics when trading binary options! This is an important note. When we talk about not trading short life binary options based on market noise, which abounds on lower timeframes, we also mean that there are larger/global market trends (both technical and fundamental) format), which definitely should not be neglected, otherwise it can lead to large losses. In other words, if you buy binary options (put or call, it doesn’t matter), relying on medium- and long-term trends and, accordingly, setting the expiration date of options for a longer time, you naturally reduce the degree of influence of various types of random factors, thereby increasing chances of success and increasing the reliability of your trading positions. But the vast majority of traders in the binary options market do not do this simply because they lack patience and/or are afraid to hold open positions for a long time. As you can see, the root of the problem here is the trader’s insufficient psycho-emotional preparation. But if you move past your own fears and impatience, while discovering the more fundamental trends that drive the markets in long- and medium-term trends, the effectiveness of your trading decisions will clearly improve, allowing you to enjoy a growing percentage of binary options expiring in the money. But this is the ultimate goal of any binary options trader - to ensure that as many options as possible expire in the money and bring them profit. But many brokers are paying more attention to short-term trading, popularizing 60-second binary options. They want you to make as many trades as possible, which goes against trading based on long-term trends. Remember that as the time period increases, the so-called market noise becomes less and less, and if you add fundamental analysis here, the percentage of profitable trades will clearly increase.
Next point may seem strange but your trading capital should be sufficient, and not too small and not too large. If you trade too small amounts, even though you are already a fairly experienced binary options trader, it will be akin to dabbling on a demo account, and you may soon lose patience and begin to simply “take the fortress” with an increasing number of positions, due to which the quality will suffer . You shouldn't make too large deposits either. You need to choose a deposit that is enough to withstand deep drawdowns, and also so that the profits from trading mean something to you in material terms, while forcing you to maintain your brand, without giving into gambling, but also without forcing you get very nervous every time you open a deal, for fear of losing an impressive amount of money. The principle of the golden mean applies here.
Last tip, which has already been discussed in other articles on binary options, concerns the bonuses that binary brokers offer. Once again, I repeat that you should not accept bonus offers that may look quite tempting. The point is that in order to get this (seemingly) significant bonus, you will have to trade hard enough to release it. You will not be able to withdraw money if you do not meet the bonus conditions, so your money will be frozen for withdrawal. Moreover, you can easily lose your own capital in an attempt to quickly win back the bonus. Be smart and success will come to you!
How to successfully trade binary options: do you want to make profit on binary options and not be among the unfortunate traders? 9 valuable tips based on real trading experience.
Over the past 5-7 years, the binary options market has developed by leaps and bounds, and today it is BOs that provide the opportunity to earn a lot in a short time. But big profits come with the risk of losing everything; beginners usually don’t pay attention to this.
Today we will figure out whether it is worth trading binary options and how to increase the chances of success.
What prevents new traders from making money?
Beginners make the same mistakes; they prevent trading from being profitable.
Among the most common, we note: a careless attitude towards trading (like playing in a casino), a lack of understanding of the key differences between BO and the Forex market, the inability to choose a reliable broker, neglect of training and study of trading conditions, as well as the conditions for working out bonuses.
Taken together, all this leads to disappointment in the binary options market.
We offer the opportunity to avoid these mistakes and start earning money right away. We emphasize that this is only possible if all the recommendations below are strictly followed.
Experts advise considering questions such as:
- choosing a broker;
- studying educational materials and selecting a trading strategy;
- money management, selection of the optimal deposit size;
- working with bonuses, trading signals, robots;
- Let's also touch on the psychological component.
Taken together, this will answer the question of how to learn to trade binary options.
We will sequentially analyze the main stages on the path to success, starting with choosing a broker and ending with psychology. also very important.1. Choosing a broker.
- period of work on the market - the longer the better;
- reputation and reviews, scandals should not be associated with his name;
- the presence of regulators, preferably several of them;
- the amount of payout for options “in the money”, it’s not bad if there is a partial return on options that closed “out of the money”;
- minimum deposit and bet size. The less, the better; for a beginner, a broker with a deposit of 5-10 $ and cost of options from 1 $ is suitable. Reliable binary options brokers with a minimum deposit will allow you not to risk a large amount;
- It is desirable that a demo account be provided without additional requirements;
- bonuses are also important, but do not forget to take into account the working conditions.
2. Training.
If you have zero experience in trading, then it is advisable to structure the training as follows:
- studying the theory - what binary options are, how they work, how they differ from transactions on the Forex market, etc.;
- determine the appropriate trading style;
- practice on a demo account and then on a real account.
It is undesirable to delve into theory and not consolidate it with practice. In trading, bare theory is worth almost nothing.
As for the educational materials on broker websites, they are useful, but don’t expect that after reading a couple of articles you will become a pro. These materials are only suitable for getting a general idea of how the market works, the nuances of working with different types of binary options, etc.
In principle, this is fair, it depends largely on the trader. And the broker simply creates conditions for work and does not put a spoke in the wheels.
3. Choice of strategy.
There is no point in concluding deals at random; through luck you can make a profit several times, but we are aimed at a stable result, which means we need clear rules for working in the market.
When choosing a strategy, consider the following:
- Forex strategy may not be suitable for binary options. It's all about the expiration date; this parameter is simply missing;
- indicator strategies work well with BO, but over time you will have to start optimizing. The market is changeable, so sooner or later it will be necessary to select new parameters and test the strategy on history. So constantly monitor the percentage of successful transactions;
- the strategy under BO should give a high percentage of profitable trades, preferably from 60-65%. With a payout of around 80-90%, you need at least 60% of profitable trades to at least not lose money;
- exclude strategies that use martingale.
As for what time is best to trade binary options, the opening hours of Europe and the USA are suitable - volatility is maximum during this period of time. So we immediately exclude strategies that work in a “quiet” market.
4. Work on a demo account.
A demo account is used to practice the rules of working with a trading strategy and get acquainted with the terminal.When working on a demo account, keep in mind:
- applications to purchase options are executed almost instantly. In reality, it can be executed with a delay of several seconds (this point is specified in the user agreement);
- Profitable trading of binary options with virtual money does not mean that the same will happen on a real account. This is where psychology comes into play, let’s look at this issue a little lower;
- It is not advisable to dwell on a practice account for a long time. You will not experience the same emotions as when dealing with real money;
- When working with virtual money, try to stick to the same bet sizes that you plan to trade on a real account.
Demo account– the last step before starting to work with real money. Although there is no risk of losing your savings, take this step seriously.
5. Deposit amount.
The minimum deposit amount should be calculated based on the minimum rate. It is advisable that in one transaction the risk does not exceed 2-3% of your capital; in exceptional cases, you can increase the risk to 5-7%, but no more.![](https://i1.wp.com/dnevnyk-uspeha.com/wp-content/uploads/2017/09/ocenivaem-poteri-ot-depozita.jpg)
Based on this, we calculate the amount of starting capital:
- Let’s assume that the minimum cost of an option is $1, and you can open an account from $10, in which case the risk in one trade will be 10%, this is unacceptable;
- To maintain a risk within 2-3% of the deposit, the starting capital should be $50 and $33.3, respectively.
Among the reliable BO brokers there are companies with a minimum deposit of around $200-250 and a bet starting from $10. For them, the minimum deposit in compliance with the MM rules starts from $300, so at the start it is better to choose the option with a smaller deposit.
And most importantly, only the amount that is safe to lose is allocated for trading. Do not under any circumstances try to trade with borrowed funds.
6. How to use bonuses correctly.
Regardless of where you trade binary options (meaning which broker), you will be offered a bonus program. Typically, a bonus is awarded on the first deposit; some also offer a welcome bonus for registration; it is awarded only to new clients.
What all types of bonuses have in common is that they have a working requirement. It lies in the fact that you need to achieve a certain trading turnover on the account in order to be able to withdraw the bonus body and the money earned with it.
Example. Let's say you were awarded a bonus of $150, and the leverage to work it off is 30. This means that you need to buy options in the amount of $150 x 30 = $4,500. In this case, both profitable and unprofitable transactions are taken into account.
Read the terms and conditions carefully. Some brokers block withdrawals until the bonus funds are fully used up. Remember - you can refuse the bonus upon replenishment if the working conditions are not satisfactory.
7. How to use signals and robots correctly.
Signal services for binary options can make life easier, but they can also lead to loss of deposit. It all depends on the signal provider. We do not recommend getting carried away with this at the initial stage; you do not yet have enough experience to distinguish a quality offer from a fraudulent one.
The same can be said about a trading robot for binary options. This is an algorithm that connects to your broker account and trades automatically. This saves time and generally eliminates the emotional factor. On the other hand, you don’t know what strategy the robot is using and drainage is possible.
Classic Forex advisors are not suitable for BOs for the reason that they need to be installed in a trading terminal, and work with options is most often carried out only through the broker’s website.
Among robot sellers, most are scammers - their main goal is to convince the client to fund an account with a certain broker and earn money as part of the affiliate program.
8. About the behavior of the trader.
The ability to control yourself is one of the most important conditions for profitable work with binary options. No trading strategy will provide stable profits if you violate its rules over and over again.
It is advisable to start honing your self-control skills while working on a demo account.
The main problem for beginners is that they cannot be calm about losses and profits. It's really difficult, but that's how you should approach trading. If the statistics on the strategy are positive, then there is no need to worry about a losing trade. Resist the urge to recoup or retaliate against the market.
This is the most difficult thing in trading and successful binary options trading largely depends on this. You can look for a strategy on specialized forums, save money for a deposit, but the most difficult thing is to control yourself. No one can handle this except you.
9. About the risks and prospects of trading BO.
It’s not for nothing that binary options trading is called the riskiest type of trading. There is a real chance to lose all your money in just a couple of minutes, in a couple of mouse clicks. The recommendations listed above can reduce the risk of this, but the danger still remains.
Most newcomers come to the market with one goal - to earn a lot in a short time, this is not entirely the right attitude towards trading. Focusing on profit is, of course, good, but this path is unlikely to be short and easy.
At the initial stage, it is advisable not to treat the deposit as your own money. Don't make plans for it, try to imagine that it's not your money and just manage it. This will prevent you from being disappointed in trading if you fail.
To successfully trade binary options, you need to have a perfect understanding of basic information about them.
Check if there are any gaps in your knowledge by watching the video:
Conclusion
To summarize all that has been said, successful binary options trading is possible, but this will require:
- choose a reliable broker;
- take time to study;
- select a vehicle and carefully check it on a demo account;
- open a real account and work exactly following the rules of the strategy. This is the most difficult thing in trading; most often the reason for failure is the trader himself.
Almost all newbies come to the same thoughts after the drain. We share our experience with you and invite you to learn from the mistakes of others. Just follow our recommendations, take your time, be careful, and binary options trading will become profitable.
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