Majority of the traders fail in binary options trading due to lack of knowledge and risk management. Then, they
desperately look for Binary Options Robots, Auto Trading Software to get rich quickly, and further, lose money. If there were some real profit-making trading robots or software, why the owner of such a magic software would like to sell
it. Nobody in this world would want to make some stranger rich for Free or by charging few bucks. Alternatively, they would create many accounts with different brokers and make millions from these accounts.
However, some binary options robots and software generate reliable trading signals while providing a verifiable track record. But they are very few in the market and they should be used with due caution and care while keeping in mind the proper money management.
Now, let us analyze what can actually bring you success in binary options trading in India.
Do not risk more in a single trade
Trade small amount (1 or 2 %) in each trade, make 5 to 10 trades daily to make 5 to 10 % profit daily. Although trading
binary options trading is available 24 x 7, it is not wise to trade 24 x 7. Trade only when there is good volatility in the market and technical analysis give good predictions. The best time to trade is usually when London and New York markets remain open simultaneously (1200- 1600 hrs. GMT), similarly when Sydney and Tokyo remain open from (2300- 0600 GMT).
Follow your strategy and money management rules
Constantly follow your money management strategy. Write down your strategy and investment rules and follow
I follow ADX, Stochastic, RSI and Bollinger bands to find my trading points and always trade in the direction of the trend. (Trend is my friend).
After a loss-making trade, I wait for next opportunity and invest the double amount to recover. This gives my account
a steady growth. But I stop trading after 4 consecutive losses and start afresh. For a $1000 account, I start with $5, and after a losing trade, I go for $10 trade and subsequently $25 and finally $50. If I don't recover here, I stop for sure.
By following this money management,I have grown my account significantly in 6 months.
You cannot take revenge from the market
Don't make revenge trading after a loss and subsequently blow out your account by losing all the money. After losing 4th time, as described in the above example, it is never advisable to keep increasing the trade size to recover. By doing so you are going to blow out your account. (Never do revenge trading)
Trade with Discipline:
If you follow the above steps strictly, it really difficult to blow out any account in Binary options
trading. Most traders usually become greedy and trade with big amounts to get
rich quickly, blow out their account and make themselves poorer instead. Hence,
you must trade with the discipline to be a successful binary options trader.
Most of the times, it is actually poor money management to be blamed for every unsuccessful trader. Because if you follow good technical analysis, it is very rare to lose 4 consecutive trades even if you follow some common indicators and strategies.
Binary options trading has become so lucrative because of its profitability that people simply jump into Binary trading India it without thinking of risks involved. Yes, it gives a return of up to 95% for a single trade, but it comes with high risks involved. If you are not successful in a trade, you lose all the amount invested in that trade. You must understand binary options thoroughly and practice it in a demo trading account. When you master it and know every aspect of it, you can start trading. Never invest
more than you afford to lose in such kind of high-risk trading instruments.
Binary options trading has become so lucrative because of its profitability that people simply jump into it without thinking of risks involved. Yes, it gives a return of up to 95% for a single trade, but it comes with high risks involved. If you are not successful in a trade, you lose all the amount invested in that trade. You must understand binary options thoroughly and practice it in a demo trading account. When you master it and know every aspect of it, you can start trading. Never invest
more than you afford to lose in such kind of high-risk trading instruments. You can start DEMO TRADING without risking real money by opening an account with some regulated binary options brokers.