The 3 Most Important Rules for Binary Options Traders
Trading can be tough at times, but it can also be great fun. In my years as a binary options trader, I’ve found that you shouldn’t let the bad times get you down as much as you shouldn’t let the good times lift you up too much. That’s why I have 3 important trading rules I live by in order to keep it together during extreme ups and downs. These are not just my rules. These are the rules the experts always stick to.
1. Every result is an ‘isolated incident’
People can say they have luck on their side (or the opposite), people can tell you they ‘aren’t feeling it today’ or whatever excuse they can come up with. Fact of the matter is, every trade is just a trade. Of course, some underlying assets can be connected (oil prices can influence Shell and BP stock, for example). However, the real trader knows that after a loss, you have to pick yourself up and start a new trade with a clean slate. And after a win, you’re back at square 1 when placing a new trade.
2. There is no 100% certainty
Some trades are more likely to end in the money than others, but no one can guarantee a win. Ever. No trading bot, no signal service, nobody. That doesn’t mean bots and services are useless. It just means that you must always make a judgment call before placing a trade, and think about what the outcome of the trade will do to your financial situation (both in the case of a win and in the case of a loss).
3. Keep it real
Don’t get carried away by your results, and don’t ever think you got the game figured out. That’s when the results start going down. Always realize that you’re dealing with money and that you need money to live. So don’t spend large amounts on trading if you can’t afford it. Keep it real.
Ready to trade? Start here!
If you want to start a career as a binary options trader, read our most comprehensive guide to binary options.