Go for a platform that offers a better payout!
Different platforms offer different payouts ranging anywhere between 60 and 81% when your price prediction is correct and a payout of 0-15% if the price prediction is not correct but how do you think is wikitrader scam. For example, if you compare two of the leading companies Any Option and Cedar Finance.You will find out that Cedar Finance offers a 75-80%/ 0% while Any Option offers 70%/15%. Therefore, with Any Option, you will get5-10% more on your investment although it may appear as if you are getting a higher payout with a company that pays more if the prediction is correct.The point is that you have to ensure that you do the math before funding a trading account. Avoid choosing the first company you think of as it may not always be the best.
Diversify risk and trade relative to your budget!
There are several ways you can use to minimize the risks when trading. Actually, I have posted a few videos on You Tube where I explain how to manipulate the risk.The most important thing to consider is trading relative to your budget. If you start an account with 200 dollars, do not trade with more than 35-50 dollars. This is due to the fact that you will not be right all the time even if you have the best strategy in the market.
Therefore, ensure that is wikitrader scam ?you do not put all the eggs in one basket as you may end up losing all your money on one trade! Just diversify your risk in the right manner so that you can practice your strategy.
Don’t take a bonus offer when you fund your account
I know that you may be asking yourself why I am advising you not to take the free money offered by a trading platform.
The answer is very simple. The bonus will lock you into a volume of trades you will have to generate so that you may withdraw your money from the platform. This mostly equals to 20 or 30 times the deposit amount.
If you do not have much experience with wikitrader scam binary options, you will always want to have access to your money at all times you choose to take it out. Therefore, I would advise you not to take a bonus offer especially if you only starting out with online trading.
Avoid emotional trading and instead, trade with a strategy
The most common trading mistake is the involvement of emotions in trading activities. People who involve emotions think that luck, intuition, good heart and other factors are more important to trading than understanding more about the asset and developing a good strategy.
The good thing about binary options is that unlike Forex Trading, you do not have to use software and complicated charts and a simple fundamental wikitrader scam analysis of the asset you are trading to earn profits. To learn about the various strategies, visit my Binary Option channel and watch my short strategy videos.
It is day trading and it should be FAST and if you snooze, you will lose.
In most cases, as the graph is about to hit the price level you bought the option putting you at risk. Wouldn’t you rather just break even?
If your initial option was a Call Option (up) prediction that price of the asset goes up, if and when the graph hits your price level quickly buy a Put Option (down) for the same amount. This will help you break even.
Minimize the potential loss and build up profits over time! To learn more about the exciting market of binary options, check out my You Tube videos where I explain my strategies and tell you more about binary options.