User menu

Open account
How to become a good trader?

How to become a good trader?

The popular scenario, according to which everyone comes into the trade for only millions, is long out of date. If we exclude the opinion of chronic losers, then successful investors and traders, thinking how to make money on binary options, set completely different goals for themselves.

Those who are hyperactive, but not ready for serious work, "spend" a lot of time and money on the market to prove to themselves (and in general - to others!) that: They are! They can! Earn every day! Then, as a rule, they leave the market forever.

Calm traders set themselves small, but quite realistic goals (treatment, education, compulsory purchases, financial stability), after reaching them they prefer not to risk anymore. Such players leave real trading to invest, usually with a small amount of long-term assets.

These traders prefer to keep a stable profit, constantly develop; trade for the sake of interest and pleasure, only they have the highest chances of becoming a millionaire.

Whatever exact binary option strategies you choose for yourself-do not expect concessions from the market. Before becoming a good trader, everyone should go through a few necessary steps.

The article is recommended for reading:

  • very one who is just curious about what a binary option is;
  • Beginners with no trading experience;
  • Beginners with the first negative experience on a real account;
  • Those who are already receiving a stable profit, but understands that they still lack something.

Let's start with a standard wish:

I have 100 dollars, but I want a million!

The understanding that you have to work in the market does not come to beginners immediately. Broker ads look simple: download the trading terminal (for free!), top up your deposit (in any way), see the location of just two CALL/PUT buttons – the earned million is already on the horizon.

However, on the path to understanding how to become a good trader, two main scenarios are possible:

  • The market almost immediately goes against the trader, nervous reverse trades only bring losses, the initial deposit is quickly lost, the beginner cannot overcome severe stress (often - financial problems in addition), and therefore does not return. This is the safest solution for those who are not suitable for trading;
  • The first trades bring a small profit - the so-called «binary option for newbie’s hit». A trader who does not know anything about money management begins to increase the volume and frequency of options. Money from the deposit "leaves" even faster than in the first case.

Despite the strict selection, the percentage of survivors after this stage is quite high – almost 50%. If the first losses and stress do not break the beginner, he will come to understand the next step.

We continue to trade...

After the first losses, we begin to actively "load the brain": information is consumed in huge portions in any form, as well as books, articles, videos, forums and endless analytics, especially on cryptocurrencies. There are paid training courses, as well as various trainings, webinars, tips and consultants.

The logic "the faster and more expensive the better" forces everything that is seen / heard / read / recommended (without checking by other sources), immediately applied in trading - it is good if on a demo account, well, or at least $ 1 options. Most often, a newbie overloaded with information tries to trade at once and for the entire deposit.

In 80% of cases, after such a "training" they remain without a deposit, but now the answers to the eternal questions "Who is to blame?" and "What to do?"

It is always the fault of a bad consultant/broker/strategy/free binary signals/lack of money (underline the necessary!), and not a trader. Usually such a period lasts 3-4 months, but some may "hang" in it for several years.

What to do?

Continue to learn, but on your. Check any information before using, as well as the trading experience of others. We listen to everyone, but we don't copy anyone, we check all the ideas on a demo account. We believe only in our strategy of binary options.