Earning on Binary Options Trading
Is It Possible to Stay in Profit for a Beginner?
The traders often question whether the newcomers, who do not understand anything in binary marketing, can make money with binary options trading. The short answer is yes. And this article describes how it can be done.
Start Your Activity on Binary Options Trading Broker
Our recommendation for a beginner is starting with OptionRobot account generation. After signing up, one can choose one from the linked brokers and make an investment on it. All the rest will be done for you by the automatic software.
OptionRobot belongs to the top auto trade service providers that guarantees high payouts (up to 91%) and is highly appreciated by experienced traders worldwide.
Avoiding the Common Mistakes Made by the Newcomers
The traders, who possess no experience in binary trading, tend to exaggerate while depositing money on the first trade and stay out of profit in the next 5 deals. The further common mistake is earning on small trades but not risking placing big trades. Moreover, the newcomers lack self-control while taking up trades and are easily influenced by sentiments.
Still, if a new trader develops an effective trading strategy based on the key principles of success, he/she has all chances to make money with binary options trading. In order to do that, one has to be aware of all potential pitfalls arising in binary marketing.
- Aimless trade placing. Inexperienced traders tend to make illogical decisions concerning the investments since they take binary trading as a lottery. The critical point to remember is that the prerequisite of success is having a strong strategy behind every trade and linking it to the actual marketing conditions.
- Being influenced by sentiments. Binary trades that expire in winning positions are always based on rational decisions and are never touched by human emotions, no matter good or bad.
- Choosing wrong trade sizes. Since binary trading always entails risks, the losses can not be avoided. If you do not want to lose too much money on one trade, never invest more than 1/15 of the total balance or 1/20 if it concerns binary options.
- Repeating mistakes. Everyone makes mistakes. The important thing is to learn from them and know how to skip them in future rather them repeat them all over again.
- Giving up too early. Going over the difficult period while trading is the prerequisite of success. Just be patient and you will certainly get lucky.
How the Newcomers Earn on Binaries
Binary trading has a simple idea behind it: one just needs to predict the outcome of the trade and has a 50% chance to be right, no matter which option is taken. In order to earn money, one just has to develop the approach, which can assist in making 60% of trades successful. It is hard to estimate what is the profitability level you can count on if you trade on binaries. But the key advice is: enter the sphere with low expectations and enhance your trading efficiency gradually.
The tips for the beginners are:
- Employ a signaling service that can add you some edge in the process of trading. Elite trader or free of charge barchart are the optimal examples of such tools.
- Enhance your chances for success by using popular indicators that track price movements such as relative strength index or MACD.
- Start trading with the assets that have smaller volatility. Thus, we recommend considering stock trading since it can serve as the good material for mastering the basics, provided the sticks and leverages in use are not more expensive than $5.
- Mind that different assets require the application of an individual strategy, which is why it is critical to monitor one’s performance on each particular trade.
- Adjust your personal trading style to the respective length of the implied trades. Smart value and expiry estimation is a guarantee of success.
The Challenges of Binary Marketing for Newcomers
It is often questioned what is the winning percentage or, in other words, in how many cases can one hope to be in profit and make money with binary options trading. Of course, the losses can not be avoided since brokers get the resources from you losing your money.
Choosing a good broker is an important constituent of a successful trading strategy. We recommend 24Option as one of the leading trading platforms for beginners. It is officially regulated, guarantees up to 88% payouts and has a small initial deposit level ($250).
Can Binary Trading Be Recommended to New Traders?
Never forget that every professional was a beginner one day and started his/her career from the very first step. If you are attentive to details, are ready to educate yourself and craft smart strategies on the basis of the gained knowledge, you have all chances to succeed.