Binary options can be a bit addictive, and traders have a hard time stopping when they start trading. They often begin with the series of investments and risk of losing their money. Later they blame binary options brokers how they tried to scam them, but, in fact, they are the only one responsible for the bad results. If you want to avoid this situation and actually earn money while trading, we recommend you to read this article which can help you significantly.
Before you start
Every beginning is confusing, especially when money management is in order. You need to apply strong strategies, which require a discipline, rational thinking and limiting the loss. Pay attention to the level of your skills. If you are a beginner, make sure to start lightly, before you get familiar with the platform and the trading options.
Where to start?
The easiest way is to set up some amount of money you are willing to spend on this type of trade. The best solution would be to separate your trading account from your checking account, in this case, you won’t feel tempted to spend more money than necessary. Don’t go crazy and spend half of your salary on binary options trading. Our recommendation is to use 5% of our incomes and later when you feel more confident; you can increase the pace. But, don’t go over 10% because binary options can be quite unpredictable and you might lose all your investment.
The next method is to use 10% of the sum you intended to invest in binary option and gradually increase your budget. Let’s say you want to invest $400 that month, 10% is $40, you can spend it one trade or split it in two. If you manage to earn money, you will return your investment and add 40% to your budget. This means you will have $440 and your next trade will increase to $44.
Use binary option robots
They have come as a handy solution to all inexperienced traders. Binary option Robot is a fully automated trading software which researches the market and places trades instead of you. You are only required to set up the trading parameters and place a deposit. One of the best on the market is HBSwiss, you can read the review at HBSwiss scam review, and this can help you get familiar with this trading platform.