51 in binary trading strategies and tactics pdf27 comments
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You must read this guide for reducing, controlling and limiting you risk. Speculating financial markets, trading and trading binary options carries risk. In general, the more risk you take the bigger the rewards, the catch is that the bigger the risk well, the bigger the risk. What most successful traders know and aspiring traders want to understand is that risk and taking risk does not mean being risky. You can take risk in a calculated way, profit and move on.
You can also be risky, blow your wad and get washed out of the market. Binary options has grown up in many ways but so have the scammers. Every time I find a new good broker I find a new scam to match it; the trick for any trader is to learn to spot them.
For newbies it can be a challenge. Shady brokers put a lot of effort into looking legit. Some go as far as cloning the name of a well known financial company to lure traders in, others create fake regulatory agencies to give them a stamp of approval. In the periphery are all the schemes, trading systems, autotraders and gurus who claim they can make you rich. I know its tempting but if it were really that easy then everybody would be rich. If it, whatever it is, has real value it would cost money.
Get Your Head Out Of The Clouds — The second way to limit risk is to keep it real, get your head out of the clouds and come back down to earth. It is also risky, challenging and not something everyone can master. If so, every one would be doing it, right?
If you have already been trading then you know its hard, binary is easier but still hard. Notice I say consistently. It is not hard to produce some wins but you have to be ready to make some losses along the way.
The key is to pick more winners than losers so that over time you come out ahead. If you think you are going to walk right in and make a pile of money you are going to disappointed. There are a lot of indicators, more strategies and hundreds of assets to use them on. With all that it is easy to get distracted and I have not even mentioned the fundamentals, the economy, market sentiment or the never ending line of gurus, signal providers and tipsters trying to get your attention.
Jumping around from tool to tool or strategy to strategy is a quick way to loose money. The purpose of a strategy is to weed out the false signals.
My hedge, it is OK to experiment and learn new strategies, just do it wisely. This is where the rubber meets the road so to speak. Even after all this risky behavior such as placing to much money on one trade can wipe you out faster than just about anything else.
Account management and position sizing is intended to let you trade but never enough that one loss, or a even a string of losses, will wipe you out. This way your trade amount will grow with your account, maximizing profits, while keeping each trade to an appropriate size.