The most important thing in Binary Option Trading
When past numbers never lie
95% of traders are those who lose their money on exchange markets. The number has been there for hundreds of year. Even in the next hundreds of year, this number will not change. Most of the traders who are loss think their methods were the problem. And they continue to find the answer for their loss in a vicious circle.
And how about the rest? How can the 5% of traders still earn money sustainably on the binary market? The answer is their simple method. In fact, the method only counts for 20-30% of their success. And the rest is up to the ability to control their emotion when they start trading.
It sounds confusing, but it is the truth. Most of the masters in the field of binary option understand that: “The best of the best is knowing when to stop”. And to stop in time, your emotional and mental state has to be strong enough.
Documents and courses never teach you how to control your emotion when trading. You have to learn how to control yourself so that you can earn money sustainably.
With many years pursuing Binary Option, Blogtien team has learned a lot of lessons. And today we want to share them with you:
What is the most important thing in Binary Option Trading?
CHOOSE WHAT YOU TRADE
Knowing the features of products is the first thing we do. We just trade 2 pairs of money: EUR/USD or USD/JPY. Placing trades should be done in the 1-minute time frame on every Tuesday and Thursday. We know our chosen pairs clearly about the moment when it is most stable, predictable and when traders are most concentrated. We use the simplest trading method.
MONEY CONTROLLING IS THE MATTER OF EMOTIONAL CONTROLLING
“If you cannot control your emotion, you cannot control your money” (Warren Buffett).
Sure thing. If you cannot control your trading order, your emotion will waver. If you feel your emotion is over-riding your judgment, stop trading. Because the more you trade, the more you lose. You can refer this article: “Guide of how to manage your money in binary option trading”
BE PERSISTENT IN WHAT YOU ARE AFTER
Have you seen how assassins followed their prey? They prepared the best weapon, observed their target, and waited for the right time. And took action. That’s all
Don’t overdo anything. Never place too many trades. Concentrate on the best time and place the best trade, in the simplest way. Take some time for yourself to feel the market before start trading. This is also the time that you can observe your target.
LAST BUT NOT LEAST, REMEMBER:
It doesn’t matter how much money you have, but how much money you get.
It doesn’t matter how much money you get, but how much money you can keep from what you earn.
It doesn’t matter how much money you can keep from what you have earned, but what you can do with it.
Stop in time. Keeping money is alway the first priority. Only if you can keep your money, you can take the next opportunity.
Author: bnam