Trading binary options is an attractive activity due to the quick income from participating in transactions carried out on financial markets. Changes in the exchange rate of securities and currencies lead to the fact that significant sums are earned from this. At the same time, many fall under the influence of excitement and try to hit the jackpot. Emotions come to the fore - a person begins to play, rather than build a trader’s strategy. This is facilitated by everything: a convenient trading platform , an affordable deposit amount (on average $10) and the ease of purchasing binary options.
In terms of complexity of development, Forex looks less preferable compared to trading binary options that carry a fixed profit. To use the latter, you only need to determine the trend at the end of a given period of time and press the appropriate button. There is no need to study complex terms, and the offered profitability can please anyone - up to 90%.
The designated profit percentage becomes what attracts many people. Most turn into players, not traders. They tempt fate in hopes of getting lucky. Often, a deposit is invested as a bet in a casino ( binary options are a scam ), when they go all-in, the entire available deposit amount is placed. Nobody does any chart analysis. This approach leads to a sad result. The deposit is completely lost within a few hours or days.
Let's try to figure out how to avoid being among the losers. Let's learn how to manage capital wisely, that is, without draining deposits .
Money management
Money requires careful handling, regardless of its use. If you intend to trade binary options, you should first:
- get rid of emotions;
- establish the rules of the “game”;
- choose a management option for capital management .
At the initial stage, use a training account (demo account). This will lead to the acquisition of the necessary skills and will give confidence that income through binary options is a reality. The next step is choosing a trading strategy for binary options . Transactions should not be concluded at random. This requires your own methodology and your own style. Study the nuances of risk management and only then proceed to trading with real money.
Attention! Never invest the entire amount at once. There is no justification for such a risk. Binary options are not a lottery.
Professional traders determine for themselves the acceptable size of one transaction. Standard – from 3 to 5% of the deposit. If you are a beginner player in the financial market, then it is advisable to reduce the amount of one-time investment to 1–2%. This is not much, but first you need to gain knowledge and experience, and then join the marathon for profit. The first stage is the development of a strategy that can ensure break-even trading at the end of the reporting period.
Every day cannot bring profit, which is due to the unpredictability of the market. Some days will become profitable for you, while others will be unprofitable. Your task is to make trading profitable at the end of the established period (week, month, quarter, etc.). Keep a trader's diary . Strive for successful completion of transactions in at least 70% of cases. Also determine what number of losing trades is considered acceptable. If this indicator is equal to 3, then stop trading when it reaches it. Analyze your errors, improve your theory, and start trading no earlier than tomorrow.
The following is given 
The above algorithm reduces the intensity of passions. Emotions subside and the person becomes able to make informed decisions. Most people find it difficult to control themselves when they lose a large amount of money at once or are plagued by a series of failures. The deposit is drained as the trader tries to recover losses. Some turn to casino strategies. The same “catch-up” is used, characterized by the fact that after each unsuccessful completion of a transaction, the investment amount doubles or even triples; the so-called Martingale system is used. This leads to an immediate loss of the deposit.
Trading strategy
If you focus on intuition when concluding transactions, this will certainly lead to the loss of your deposit in a short time. Follow a specific strategy. Choose the one that suits you and start working on it. Test, change, improve, add - do everything to bring the bidding method you use to perfection.
Gradually the number of successful transactions will increase. Strive to experiment - feel free to change the strategy if it does not suit the quality. Go into the settings, set other periods and types.
Advice! When the fear of losing money is great, turn to a demo account. This makes it possible to comprehensively test the chosen strategy. Serious brokers provide this service free of charge.
Strict discipline
Pick two traders using the same strategy and you will be surprised at how different their trading performance is. One is successful, the other not so much. The reason for this state of affairs lies in the trading psychology of each individual person.
People are divided by psychotypes. Some show miracles of endurance. At the same time, others are full of passions caused by greed, excitement, etc. Someone sees signals that are not there. They can't wait to dive into the market and its quotes. This process is fascinating, and an addiction akin to adrenaline arises.
Important! You are a newbie. Do not open more than one trade at a time. Become professional first, the market is here to stay. 
The main thing is to start correctly as a trader in the financial market. It is necessary to develop a model of behavior, which is directly related to how much future trading can bring in money. Say no with emotion and establish strict discipline where nothing distracts from the implementation of a specific strategy.
Limit your use of trading assets at first. Two or three are enough. Dig deeper into the topic from a technical and fundamental perspective. Track factors influencing changes in asset status. Scattering of forces reduces the quality of control, which does not contribute to the profitability of trading.
Conclusion
To call binary options trading difficult is to go against the truth. This type of earning money on the Internet does not require serious skills. There is no need to master complex aspects, everything is simple and clear, which distinguishes it from Forex. All you need is the appropriate attitude and understanding of your actions, which this article can help with.
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