You were already probably searching around the internet for binary options strategies and you asked yourself, is this legit so is it good strategy or is it a scam and they just want to sell me something. There is so much different strategies listed all over the web you can not know waht is right and what wron and i can understand you that is why we are going to try to give you some insight information on how the proper strategy should look like so next time you will judge better.
WHAT YOU WILL LEARN HERE:
- What is binary options strategy?
- How a good strategy should look?
- How bad strategies look?
- Where to find good strategies?
WHAT IS A STRATEGY?
If you see someone who is trading gold and is placing a call option on it and says that is his strategy, well that definitely is not it. Strategy is all that behind, before you press that call button and put a trade on. Basicly you have to know why you did a call on gold right now. If you do not know then that is not a strategy and it is called gambling.
HOW GOOD STRATEGY LOOK?
A good strategy is considered something that gives you a reason to do some trade, which means it already has some conditions that need to be predetermined and fullfilled, only and after that i enter the trade. This are the characteristics of a good strategy explanation:
PICTURE. A picture of a graph with signals on it from the specified strategy simply because picture is worth 1000 words and it is easier to remember.
RULES OF ENTRY. Why you put a trade on, basicly specify all the reasons that needed to be fullfilled to enter the trade. There needs to be determined when you click a call option and why that and on other side, when to click put option.
RULES OF EXIT. When to get out of the trade in the specificed strategy. What to do if the trade will go against me. If you are reading a good strategy, this is a must specified factor. You always have to think about this before entering the trade becuase you have to anticipate the worst that can happen.
MANAGING MONEY. How much of your portfolio should be invested or how many trades can i open. Definitely do not use 50% of your account on single trade because that means you will lose your money fast. Keep yourself some room for mistakes.
HOW BAD STRATEGIES LOOK LIKE?
If you go on google or youtube and search for binary options strategy you will find alot of things that can be dangerous for you and can potentially wash your brains. These are some common things that such sites claim or look:
- Website that is long and has lots of text which looks like it will never end and tells you how much money by trading you can make really fast
- Videos of how someone has made thousands of dollars over night or few minutes
- Usually these claims are made by some never heard super trader who is successful. Could be some pictures with cars, yachts, etc.
- Sayings that you do not need any or very little knowledge for such gains
- Testimonials!!! Do not buy this things, these things are all premade or bought from a website called fiverr
To make this short. There is no shortcuts, you have to learn this in life. Think of it, if this would be true, why would he sell this super formula to you when he could be making money on its own.
WHERE TO FIND GOOD STRATEGY?
As you know already, you can find alot of them by searching online and some are good and some are bad and also there are some that are really bad. I can not give you straight answer here and direct you towards websites and strategies to find it simply because even if it is a good strategy it also depends what suits you as a trader. I would say to check here on the website for strategies and in the community.
You need to have some good strategy and focus at the end to be a good trader and especially a serious one. As we said, important to that is also your mind, because it plays a big role in this business. Go do your research and try different strategies and use the one you feel most comfortable with just do not trust someone that is selling you dreams.