How do I Become a Successful Trader in Binomo
How to trade without ever losing? This is completely impossible. Losing in trading is inevitable. However, with the following 7 simple experiences, you can increase your income significantly in Binomo! We will present the Binomo trading principles and experiences in this article. And your job is to follow those principles only.
While trading is always risky, but to earn additional income, the good news is you just need to get additional money. In this case, you can accept a large number of unprofitable trades. For example, regarding an asset with an income rate of 80%, you can accept an amount of 40 unprofitable trades out of 100 transactions.
The exact question to ask is “How do I get additional earnings”.
We will never stop repeating this because this is important. If there is no plan or system, then there is no profit. If there is a plan, there will be profit. And the most important thing is whether you have enough discipline to follow what you have set out or not. Remember that in any industry, discipline is always your strength.
Comply With A Given Trading Plan And Strategy
If you lose $10 when you have $1,000 in your account, you will not be too sad and will continue to trade as planned. But if you only have $100 in your account, this can be frustrating and can lead you to mistakes. Finally, it is to lose all the amount in your account.
The More Amount You Have In Your Account, The Easier It Will Be For You To Trade
That’s not to mention the fact that in the first case, you have 100 attempts to fix the situation. But in the second case, you only have 10 attempts. Of course, you can adjust the investment in the following transactions to $1 or $3. But does the Money earned after each corrected forecast with the investment of $1 or $3 worth your sweat and effort to sit tight for the whole day?
Follow The Principles Of Income Management And Capital Management Method When TradingThere are some basic rules of Income management in transactions as follows:
– The investment of each transaction should not exceed 2-5% of the amount in your account.
– The total investment of concurrent transactions should not exceed 10% of the amount in the account. It is better not to open consecutive orders. Only open 1 order at a time.
Popular capital management methods such as Classic or Fibonacci, etc., will help you securely increase the balance in your account.
For example, you accept a maximum loss of 15% over the capital. When you reach the limit, stop trading regardless of how “tasty” the market looks. Stop even when you think you’ve seen the transaction of the century! These hunches are really just illusions. Let your Binomo trading experience speak up.
Determine Your Maximum Loss For A Day
The market will always open tomorrow. Opportunities are always there for you. However, you can do nothing with a dead account. A chill mind is safer than a heart bleeding from losses.
Do this for both profit and loss. It is important to understand how to avoid making the same mistake.
Analyze The Market Carefully Before And After Trading
Learn To Control Your EmotionsWhen you have a lot of emotions, whether positive or negative, they all obstruct your trading. Joy, sorrow, frustration, and fatigue all lead to mistakes. If they appear during the transaction, then stop. If they appear before trading, do not start.
The market changes every day so you need to study it constantly. Not to mention, there are many types of candlestick patterns, indicators, and strategies that can significantly improve your results. If your account status is VIP, do not hesitate to contact your personal manager. They are experienced traders in Binomo who can help analyze your transactions and give you personalized suggestions.
Study, Study More And Study Forever
The truth is that very few people earn additional money in the first days of trading. Practice trading daily with a Binomo demo account. Practicing will make us perfect and responsive to entry points with high correct rates.
Summary of Binomo Trading Experiences
According to our experience during trading in Binomo, those who daily study and practice trading following the above rules will surely succeed. To get additional income in the market, do the same thing as those who have succeeded with it!
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