Learning to trade on binary investments is not something that is achieved overnight.
It is true that there are people who have a hidden talent for this.
I have students who earned more than $ 80 a day in their first week without knowing anything about investing in binary options (maybe you also have this gift …).
But intuition alone is not enough to be successful, you need to know what the basic techniques are used in binary operations, and have a strong discipline to follow those rules at all times.
On the Internet I have found payment manuals where they tell you everything you need about stock market investments.
Life today is very hard, and every penny you have in your pocket is too valuable to waste on buying manuals with the same information that you will find in this article.
That is the reason why today I want to share here my 8 commandments to operate on binary options that I have learned throughout this time so that you also have success in your investments.
8 commandments that you must follow to operate in binary investments
Leave your excuses aside:
Investing in binary options is for others. I do not have the money to do it
If you have also thought about this sometimes, it is because you really do not want to make money with binary investments.
To say that you do not have enough knowledge to start, or that to operate in stock market is only for millionaires, they are but excuses that you have put to yourself because it is more comfortable for you to stay as you are now.
It is true that to invest in the stock market first you must learn the basic steps to carry out your operations.
But when you started riding a bicycle or learned to read did not you have to do the same? Of course, and once you got it, you realized that it was not as difficult as you had imagined.
With the binary investments the same thing happens, to enter to operate you do not need to be a genius of the finances. You just have to learn some basic rules, and have enough discipline to follow them.
However, the biggest excuse people usually use is not having enough money to invest.
There are brokers like Any Option who will ask you for an $ 800 deposit to start you’re trading with them; that’s too much if you want to get started on investments and see how they work.
So you see, money should not be an excuse if you really want to invest in binary options.
Learn basic knowledge:
As I said before, just as no one learns to read without knowing the letters, you should not start in binary investments without knowing the necessary basic knowledge.
Stock trading is a process like any other, first you learn the basic rules, and then practice until you become the best.
It is clear that training will not guarantee success; but lack of training will guarantee failure.
Practice with a demo account:
The best way to practice to become the best investor is to use a demo account.
What is a demo account? It is a fictitious account in which you can operate with the same graphics, assets, and markets as with a real account, only that the money you will invest will not be real.
It is like a simulator with which you can practice and test which is the patterns that work best in your investments.
Practice with this type of account for several days until you feel safe to invest in the real market. That way you’ll be prepared, and your chances of success will be greater.
Pay attention to the graphics:
The trends are the movements of the goods that are shown in the charts when we are going to trade in the stock market (you have a clear example of what they are in the photo below).
And it is the tool with which you must decide if the asset you have chosen will go up or down.
Do not get too complicated with this, if you see a graph where the lines have been rising, indicates that it will continue to rise.
If the graph has had a constant decrease, it indicates that it will continue to fall.
It is always more likely that the trend will follow the same path (if it has been going up, it will be reasonable to keep going up, and vice versa) that the trend will change.
Organize a good plan to invest:
If you want to live from binary options, do not improvise. It does not matter what stock market you go to operate, the important thing is not to act crazy.
That is why, before performing an operation, you must have organized an action plan that will allow you to follow the steps you are going to take.
In your investment plan should be reflected the answers to some questions like:
What is the benefit I want to get with this operation (10% of the invested, 30%, 50% …)?
How much will I invest?
How much money am I willing to take?
What asset will I invest in?
How long will my operation last? Will it be a short, medium or long-term investment?
According to the state of the charts I’ve looked at, is it better to trade up or down this time?
What will I do if the trend changes?
Once you have organized all this, it is obligatory that you follow those steps you have created one by one, and that by no means you leave them or decide to change them.
It is the best way to not get carried away by your emotions, and that your chances of success increase drastically.
Control your emotions:
In binary investments, as in any type of stock trading, there are no certainties. And for that reason is why you should always control your emotions well.
Being too impulsive, or getting nervous as soon as a chart changes a little, it will only be worth to you to waste your money and lower your percentages of success.
There is no magic formula to control your emotions, since that is something that only depends on you.
But what will help you a lot to be calmer, and not make the wrong decisions, will be to follow your plan to invest (remember that this is the plan that you created in point 6).
This is what the best investors in the world use to minimize the psychological factor, and increase the chances of success when they carry out their operations.
Stick to it, and do not give any steps that you have not organized before investing.
It is important that you do not over average or invest too much capital in a single operation because of your nervousness when you see that there is minimal movement against you.
At the beginning of entering into binary investments, it was difficult for me to fully control the emotional factor in my operations.
However, thanks to plans to invest, I managed to dominate it little by little and not have so many doubts or fears every time I operated in this sector.
Increase the money you invest little by little:
It will not be worth anything to have a good streak if in a single operation you lose everything you have won with the previous ones.
That is the main reason why you should increase the money you are going to invest gradually, gradually.
It is a big mistake to go from investing for example $ 100 into one operation, to suddenly putting $ 500 into the next one. You must take into account your previous results, and analyze them well before increasing your invested capital.
If you have had several successful trades, it would be logical that in the following steps you will invest $ 150 or $ 200 at the most. And keep climbing that money little by little.
To achieve this, something that you must keep in mind is not to obsess about the profits and losses of each operation, and focus on making good investments.
If you do so, concentrating on being a good investor, in the long run you will see that your profits are much greater.
That’s why it’s good to raise your exposure in binary investments only when you see that you’re secure and totally sure that your trading patterns work in at least 75% of the cases.
Enjoy the experience:
To many people who see this world from the outside, investing seems to them something really serious.
But the truth is that the bag is an incredible game, exciting, strategic, and with infinite possibilities to achieve something extraordinary.
You can have fun investing and not losing money. In fact, that’s what most professional traders do; they enjoy investing and fighting to win.
Binary options are no different than soccer, tennis, or car racing. For some they are a simple game, for others it is the profession with which they make a living.
But the best are those who combine the two, and enjoy while competing.
Ask people like Messi, Alexis Sánchez, or any other sportsman that you can think of if in their professions they play or not. Everyone will answer yes.
They will tell you that they enjoy the game to the fullest while concentrating on the ultimate reward of winning.
It sounds very serious and professional to say “this is not a game, it is a business”. But from experience I tell you that that is far from reality.
If you do not want to enjoy binary investments, forget about it and dedicate yourself to something else.
By applying these 8 commandments to your binary investments your chances of success will increase exponentially, and you will become a good trader in less time than you thought. So cheer up and remember to always follow these 8 steps when operating!