The main mistakes of the trader what exactly is an obstacle to successful trading
As you know, only 10% of all traders succeed and earn a lot. The remaining 90%, unfortunately, are draining all their deposits. Why is this happening? Why do most traders lose and are disappointed in binary options and it is not successful trading? After all, everyone dreams of becoming professionals, but not all are ready to go through all the stages of becoming a trader, and the way of growing up and professional growth is far from simple and not every novice trader is ready to endure all.
What prevents novices from becoming professionals?
First, you need to understand for yourself that binary options are not casinos. Here you need to think and learn to predict the movement of prices. This is a whole science! Trading involves a lot of risk, and when you bet, whether you are a professional or a novice player, the transaction does not necessarily close in positive territory. There are no 100% successful trading and successful strategies, everyone is mistaken – even professional traders with many years of trading experience. But absolutely all experienced traders follow one very important rule, which is their postulate and an important law, developed back in the 60s of the last century by J. Kelly. This rule formed the basis of risk management, and without following it you can be among the very 90% of traders who will remain with nothing. Your risk should not exceed 5% of the total deposit. Never and under no circumstances, especially for beginners. Experienced traders can afford more risk, but they compensate for their actions with many years of experience, study and knowledge in trading.
Binary options are compared to casinos, and in part there is some truth to this. After all, in fact you need to guess, up or down the price will go, and for many it’s like a finger in the sky to poke. The mistake of many players is that they fall into passion and give themselves up to chance, luck and luck, without even having the most basic knowledge. Of course, if you are a lucky person, you can win a million at a time, but then lose it, and then even more .. Therefore, in order to have a stable income on binary options, you need not rely on luck, which may not smile on that day, and completely and completely rely on themselves and take everything under their control. You need to develop your own trading strategy. Do not take the ready on the Internet, and create it yourself, which will fit exactly your understand and the perception of the market. Having perfected the strategy, only then you can achieve great results.
Another mistake of the majority – the desire to recoup after losing. People often get excited, and after losing a large sum, they begin to lose control uncontrollably, which often leads to the discharge of the entire deposit. You need to be able to stop in time and keep yourself in the hands, because this behavior has not benefited anyone. If more than three consecutive transactions are closed with a minus, it is better to take a break for a couple of hours, trying to win back in no case impossible. A few hours later, resuming trade, if the deal is again unprofitable, then trade should be stopped today. And tomorrow, with a fresh head, continue to trade. The market will always give an opportunity and a chance for a successful transaction.
The whole Internet is full of scripts and trading advisers. Forget about them. Do not resort to the help of trading signals that other traders try to sell. Often they are set up so that you merge all your money. After all, think for yourself, if you developed your Grail and a profitable strategy, would you share it with absolutely unfamiliar people?
No robots and trading advisers will be able to predict the direction of the market using mathematical formulas. After all, the price is made by traders, its direction depends on you, on the demand and supply, which traders from all over the world dictate!
And people who offer you for a fee to send you lucrative signals are often not interested in your successful trading, they just want to profit from your hard earned money. Usually their tricks come across lazy people who do not want to study and are hungry for easy money.
And the latest common mistake of newcomers is the choice of a binary options broker. Today, binary options are gaining popularity, and many brokers want to earn this. However, among them there are a lot of dishonest people who will raise money from investors, and refuse to withdraw money, or even disappear forever.