Pitfalls of earning on binary options or how to become a trader?

Earnings on binary options: pitfalls
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Earnings on binary options: pitfalls or how to become a trader? Up-to-date information about binary options trading: what it really is.

Earnings on binary options - an alternative or a permanent income?

The global crisis, the lack of work in the country and the deterioration of living standards have led to the fact that more and more of our fellow citizens are beginning to look for alternative ways to earn money.

Of course, the Internet has become the main information and labor resource, where trading in the financial market with binary options is becoming more and more popular.

Initially, this occupation seems very simple and attractive, which is why many people enter the world of binary trading without even thinking about the undercurrents of this process. However, a good impression is quickly destroyed by the loss of all funds.

We note right away that binary options really allow you to earn decent money, but the science of option trading is not given to everyone. Do not confuse financial trading with gambling - it is hard work, which you need to give yourself entirely ...

The purpose of this article is to provide some basic guidelines with which you can take your first steps in the world of financial trading more competently.

When deciding to engage in binary trading, you must be aware that in this field of activity, as well as in others, some can reach fantastic heights, while others, on the contrary, can lose everything.

In this case, you should not rely on your luck - it will not help you here. Only your personal attitude to this kind of occupation will be the decisive factor.

After all, not everyone is given to be brilliant scientists or Olympic champions. Trading binary options will be either your calling or another lesson.

Read also - Minute Binary Options Strategy: Pro-Invest

What does the binary options trading process look like?

Many informational articles say that binary trading is a fairly simple matter.

Yes, there is a huge amount of truth in this - a few simple parameters for the transaction and a constantly moving chart of asset quotes.

In general, the entire trading process can be described by the following theses:

  • A trading asset is selected from the platform's arsenal
  • The amount of its value is set for the transaction (any amount from 1USD)
  • The expiration time is set (how long your trade will live, for example 3 minutes)
  • The chart is analyzed and a forecast is created regarding the future direction of quotations (price movement in two options - UP or WAY DOWN)
  • The trading key corresponding to the forecast is pressed
  • When the expiration time expires, there is a payout for this profitable trade, which can reach 90% or even 300%, depending on the broker.

The real picture on your chart will be something like this:

binary options earnings

That is, in fact, everything seems really simple.

What earnings can be achieved on binary options?

Here it is impossible to answer unambiguously, since the amount of earnings is unlimited. Below is an example of trading statistics for an average binary options trader:

binary options trader earnings

Immediately pay attention to the period for which these results were obtained. However, this is not yet a signal to rush into battle. No one can guarantee you even a similar result.

To earn several thousand dollars in just one day, you need months of training and the same amount of time to master the basic principles of binary options trading.

A short step-by-step guide for novice traders

Step 1: Register an account with a brokerage company.

Just do not rush to choose the first broker you come across. Choose from list trusted and reliable binary options broker, as the options market is also full of scammers.

A broker with whom you can really earn money must meet the following characteristics:

  • The trading software of the broker has a high technological development (it is better if it is of its own design) with a list of necessary technical and analytical functions
  • The broker has legal grounds for providing services (licenses and certificates)
  • Completely Russian-language website and trading platform

In this article, we will analyze the situation with this broker, which is in the rows of primes of the option market.

Register your account with a broker is quite simple. You enter your personal data in a special form and in a few minutes you will receive an open trading account:

Remember that you should enter only your real data, since any discrepancy between them and real information may then adversely affect the process of withdrawing earned profits.

After going through such a simple procedure, you can already use absolutely all the services of a brokerage company and its trading platform.

Step 2: Funding your trading account

In this regard, you also need to keep your ardor and first get acquainted with the promotional and bonus programs of the broker, among which sometimes there is no deposit trading or any bonuses.

At the same time, there is also a program, by becoming a member of which you can start making transactions even before the initial replenishment of the deposit. This is a very advantageous offer for beginners:

20 free options

Step 3: Learn to trade binary options

Having launched the trading platform and opened the quotes of any asset on the chart, carefully observe their movement and try to unambiguously say where they will go, say, in a minute.

If you immediately made a correct prediction, then I congratulate you, because only a real genius is capable of this, which means that soon you will earn millions.

However, at first everything may seem really elementary. But, without understanding the principle of price movement in the market, and not knowing the rules that the market obeys, you can only guess the direction of the price, but this will not always work out.

That is why, your second step is to go to the training section of the broker's website:

Binary options trading training

Special teaching methods today allow you to understand the wisdom of binary trading in a fairly short time.

To do this, created: video tutorials, interactive tutorials and webinars. For perception, this is the most accessible and understandable.

binomo tutorials
Binomo tutorials

Having gained basic knowledge about trading binary options, you should consolidate them in practice, and for this the broker has a demo account.

Of course, binary options trading with virtual money and real money, psychologically, are two big differences.

However, it is the demo terminal of the broker that will allow you to safely understand all the trading mechanisms.

Step 4: Money Management

For this, there are special money management rules that you just need to follow.

The classical parameters of proper money management assume that the deposit has such an amount that would allow to conclude trade transactions, the size of which would be 2-3% of its volume.

Therefore, when deciding how much to replenish your deposit, imagine that if you trade transactions of a minimum value like this broker 5 USD, then in order for the risk in the transaction to be only 3%, you will need to deposit at least 170 USD.

Step 4: Trading Strategy

In general, it is this factor that determines how profitable your binary options trading will be.

There are several types of systematic approaches with different patterns:

  • For example, news trading is based on statistical macroeconomic indicators of various states and their economies.
  • Technical analysis is a strategy based on frequently repeated patterns of market movement.

Beginners can use the simplest approach - the use of indicator strategies based on special automated indicators that help to accurately analyze and predict the market.

Moreover, you, as a beginner, do not have to bother with studying data and complex calculations.

Here is a simple binary options trading example. this broker according to the indicator strategy:

Indicator strategyThis strategy works on classic market analysis tools: the RSI indicator (in the lowest field of the trading window), and the MACD indicator (immediately below the chart).

Through certain movements of their movings, they generate trading signals.

To trade deals UP such a signal will look like an exit of the RSI line from the overbought zone (under the level of 30) and an upward crossover of its moving averages on the MACD indicator. Signals WAY DOWN respectively similar, everything will be the same, just the opposite.

This trading signal is shown in the screenshot above. As you can see, the system is very simple and will be clear even to a beginner.

At the same time, such a system is able to provide profitable closing of more than 80% transactions with binary options.

  • A complete list of the best binary options strategies can be found in this section.

Parting words for a newbie trader

This is just a brief description of the stages of forming a trader, look for all the rest on this site, however, following even these recommendations, you will be able to start trading in the financial market on your own.

As you can see, everything is quite simple than it seems, and choosing the right approach to this activity, you will definitely succeed!

And do not listen to the rest, that everything around is one scam and it’s not true, only those who do not understand the essence of making money on binary options and playing like roulette lost all the money say this.

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