Do you have a personal trading strategy?
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All good training courses and books about trading constantly say that the main thing is how to make on binary options is not the ability to quickly find the Elliott wave, but to have your own trading strategy, discipline and risk management rules.
All this advice is getting boring. Beginners do not need to waste time when on the Internet you can enter the query "free binary options signals" and start earning. And only with the first lost deposit, they understand that the strategy needs to be tested in detail, adjust for yourself, carefully read the description and rules of transactions.
Even when the need for a personal trading strategy is not in doubt traders say standard objections...
I don't have the knowledge to make my own strategy.
Good objection? It turns out that reading the mass of literature and experimenting with trading strategies, sometimes even on a real account, did not give any useful conclusions. If this is not the usual laziness, then, as it did not sound offensive, it is worth thinking about the feasibility of further study of binary options.
Reading books on Fibonacci levels, wave analysis of other theoretical knowledge very weakly bring the trader closer to a real understanding of the market. Only a combination of other people's developments with their own ideas can lead to real success. Try binary options signals and everything will surely work out.
Reading books with clever reasonings about Fibonacci numbers, wave analysis of other theoretical wisdom very little brings the trader closer to a real understanding of the market. Only a combination of other people's developments with their own ideas can lead to real success. Try binary options signals and everything will surely work out.
No time for strategy and analysis of how signals work for binary options.
And where is the time to trade? In trading, the working day has no limits and if the lifestyle is not properly organized, it will be difficult for the trader. Profit requires constant monitoring and analysis, time for strategy should always be found.
I can't do it anyway.
It's not going to work if you don't start. Everything happens for the first time. If immediately not is obtained do the next attempt to and necessarily will outcome positive.
Not ready to accept losses.
This problem is more than all the past. Many traders have it, they are the ones who print in reviews and forums about «bad» brokers and strategies.
But it does speak to cowardice. It is easy to recognize these traders - they constantly study paid and free webinars, buy “author’s techniques”, etc. It is they who make scammers compromising the Forex and options market.
Another characteristic feature of such binary options trader is that at least 10 multi-coloured indicators are open at the same time on the terminal, news feeds are running and a TV channel is constantly broadcasting, where "experts" speak. And there is no trade, 2-3 options per month with a minimum profit.
Don't listen to people like that. The market is constantly changing, ideas and strategy need constant retest and adjustments. Decide for yourself-successful traders as profit thirty years ago with simple moving averages do not complicate anything, and continue to do so.
Any strategy stops working.
It is right. The market and economy are constantly changing and the strategy will stop working. Need to adjust or look for new ideas. And the smaller the working timeframe, the more often it has to be done.
It always depends on your personal goals and desire to learn how to make money on binary options. If a trader wants to become a professional and succeed any doubts, fears, laziness and superstitions he must leave "in the past". Working with money does not allow this, especially with other people's money.