Binary Options trading can be very challenging. Even if you are able to make a profit for the long-term, it is not easy. You can look through all the time frames to see setups, only to discover that the entry was a loss. This can prove costly and frustrating.
A proven trading strategy will help you be more successful and have you enjoy the entire process. I have a proven strategy and template based on moving averages and support and resistance, bollinger bands and RSI. I have also tried “self-trading” but failed many times due the unpredictable nature of the markets. Long-term profits can be achieved by having a number of proven indicators and a well-tested strategy for each indicator. These tips are priceless.
There are several things that you can do to prevent losses.
- Smart Money Management to Reduce Risks This includes sufficient balance to weather the storms caused by random price spikes, breakouts and fakeout breakouts.
- Emotional composure to ensure an objective approach vs. one that is reactive
- Keep your eyes on the prize and don’t get distracted. Multi-tasking during trading is not a good idea. You could end up missing re-entries or getting into trades late. This one has been a tough one for me in the past.
- Partience. Be ready to wait for good signals from your system. Don’t make “self trades”, as tempting as they may be. Stick to the proven strategies and signals that the system offers.
- External Keyboard and Mouse. Trades on your smartphone, tablet, or laptop with no keyboard or mouse are more likely to fail than success. Trades should be entered quickly and accurately.
- A Large View is Enough to See the Big Picture. A monitor smaller than 20 inches will not allow you to fully analyze the MT4/MT5 charts.
Compounding of 10% per trading session is possible with the Platinum System 60 Seconds binary options Indicators
