Traders binary, what do you think is the most important thing to make a trade so profitable?
“Set the psychology”
Yep, these three points above are the most common things, and it’s true. However, there is 1 more points that are not less important, that is the reflection of why you lost, and fix it.
After some observation, Hirose got some pattern why traders can lose trade binary options, and how to overcome them. Try to use Bitcoin Code.
Uncontrolled emotions, and trade with a larger amount of budget
Starting from your trade loss in a row → so panic →number of trades enlarged to turn loss so profit → even fixed loss and funds run out. Feel familiar? Hirose felt almost all the binary traders must have passed through this stage.
Solution: Control emotions! Do not increase the number of trades that have been determined before, whatever happens.
Trade against the ongoing trend direction
Usually occurs in traders who have the principle of “trade take advantage of the flow behind “. This principle is quite useful when the market is in a market range (i.e. use the Support Resistance strategy, detail read here), but if market is in a state of the continuous trend, your “reverse trade” principle will be your master’s weapon!
Solution: Trend market generally occurs during hours trading of the American market, because much important economic news emerged during those hours. If you have started losing in a row, immediately stop the trade, or trade in the direction market.
Trade constantly without solid analysis
The starting point is the same as the reason for no one, as it loses steadily, you get hasty and immediately make the next trade without doing the analysis first. Time a short and continuous non-stop trade binary is very tempting to you to continue trading, but you should also be more careful!
Solution: Familiarize yourself to always have a solid analytical basis before choosing HIGH or LOW. If not sure, stop trade first.
Thus, the observations from Hirose. Of the 3 reasons above, which one is suitable for you? Set aside time for your trade reflection so far, and a guaranteed loss. You will change to PROFIT! Click Here for more tools to get more profits.