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The main secret of an experienced Binary Options trader: learning to trade on BO

The main secret of an experienced Binary Options trader: learning to trade on Binary options

Good afternoon, friends!
It would seem that you have already received all the most important information. Now you already know how to: The foundation of profitable trading has been laid, but it turns out that this is not enough and is enough at the same time. There are several more important steps that you must go through to achieve a positive result.

Learning the basics of trading Binary Options

As you already know, to make a profit on Binary Options, you need to make more profitable predictions than losing trades. That is, literally, you need to understand where the price of a particular asset will go.

The task is not the easiest for any trader. From the outside it all looks very simple, but in reality there are a lot of difficulties that two types of analysis will help you cope with:
  • Technical analysis – analysis of price charts
  • Fundamental analysis - analysis of economic news
The funny thing is that these types of analysis almost do not overlap with each other: during the release of important economic news, technical analysis does not work, because the market is ruled by the crowd, which does not care about your opinion that “It’s high time for the price to turn around - this indicate many technical analysis signals.” Therefore, technical analysis should be used only when there are no important economic news and their impact on price movements.

Technical analysis itself includes a number of tools for predicting price movements:
  • Candlestick analysis - a method of forecasting using candlestick models
  • Indicator analysis – analysis based on the use of indicators
  • Volume analysis – analysis of trading volumes
  • Indicator-free analysis – advanced candlestick price analysis
All these types of analysis can be used separately and combined with each other - complex analysis. There is also statistical analysis - this is a type of forecasting based on historical data.

trader's main secret

Trading on Binary Options can be approached from any angle – this is both good and bad. It’s good because anyone can find a trading method that is understandable to them – there is nothing complicated about it. It becomes bad when a novice trader begins to rapidly evolve and rapidly develop his trading skills.

It would seem that what's wrong with this? The problem is the abundance of knowledge, which very often contradicts each other. There are quite a lot of examples of this contradiction, for example, let’s take the moment when the price has approached the level of support and resistance: some methods will prove the need to trade a rollback from the support and resistance level, others – a breakdown of this level. Who to believe in this situation? Who is right?

The funny thing is that you can take either side and still be right. Moreover, with any approach, be it a rollback from the support and resistance levels or a breakdown of the support and resistance level, you will earn money, because Both one and the other method show themselves perfectly in trading. But, as you know, there are no 100% trading strategies, so any method you choose will give false signals.

Knowledge is the friend and enemy of a trader. You will have situations when you don’t know what to do: candlestick analysis suggests a forecast for an increase in the price of an asset, and indicator analysis says the exact opposite. The more you study trading, the more you will notice this contradiction.

Now there are a huge number of traders who do not recognize one or more types of market analysis, considering it (or them) unprofitable. There are traders who do not recommend using indicators or candlestick patterns. There are those who have a negative perception of fundamental analysis and volume analysis. How many people, so many opinions. But they are all wrong.

The choice of analysis depends only on the trader himself - he will choose what will work in his hands. So there is no bad type of market analysis, but there are stupid people who think they are smarter than everyone else. So if you notice such a trader, be sure that he is far from a professional in trading!

Win-win strategy for trading Binary options

A win-win trading strategy for Binary Options is the hope of a huge number of traders. Why? Everything is very simple here - 95% of traders consistently lose their money. They blame anyone and anything for this, but truly believe that all their problems will be solved by just one win-win trading strategy.

I, you, every other trader, one way or another, have been looking for this “win-win strategy” that will allow you to trade without risk and earn huge sums. We scoured hundreds of forums, tried tens of thousands of trading strategies, spent years of our lives, but were left with nothing. Any experienced trader knows that there are no such trading strategies, and there never will be, but who cares about the opinion of professionals, right?!

Having just one win-win trading strategy could instantly enrich a trader and make him the richest person on the planet. But this would only mean one thing: that some strategy is capable of outwitting thousands of banks, millions of investors and their financial analysts, the entire market - billions of variables that affect the movement of asset prices.

win-win trading strategy

What do you think is the probability of finding such a trading strategy? I’ll answer for you – zero! But now I am in the place of an experienced trader, and once I was in your place - the place of a novice trader who did not take these words seriously.

It just so happens that the thirst for easy money pushes novice traders to search for this very Grail, and the understanding that it does not exist comes to them only after a few months (if at all).

Based on this desire for freebies, novice traders are shoved mountains of crap in a “Grail” wrapper:
  • Trading strategies sell trading schools
  • Thousands of indicators that “do not misfire”
  • Hundreds of teachers ready to “teach you to trade using their 100% method”
  • Thousands of books about trading
All this exists, but no one ever knows where the market will be in a minute or an hour! Any knowledge, be it from an experienced trader, a book or a trading teacher, is based only on the past!

No one ever knows what will happen to the market and price movement, but beginners simply don’t understand it or don’t want to admit it. They grab every opportunity: they buy “win-win trading strategies”, sign up for very expensive courses, pay for access to trading signals, trust the guarantees of “teachers”...

All these guarantees apply only to those who want to believe in them! In fact, there are no guarantees and cannot be. Trading is not a place where you can guarantee anything. Even a trader’s earnings are far from a stable amount; it happens that this month you earned a million, and for the next two you sit at a loss.

But how do they make money in trading if no one knows what will happen to the price next? Nobody knows, but everyone assumes - all trading, including Binary Options, is based on these assumptions. Trading is based on the probability that a particular transaction will close in profit, and the higher this probability, the greater the chances of making money. Please note, “CHANCES” - there is always a chance that the transaction will close at a loss!

Where does this probability come from and how to increase it? Any of the market analysis methods will help you with this - you will find for yourself (personally!) something that will be in your hands to incline the probability of a correct forecast in your favor.

Personal trading system for Binary options

Any trader is an individual who has his own character, preferences and views on trading. This is why it is very important to adapt trading to yourself, and not to adapt to trading on Binary Options. Of course, you won’t be able to bend the market to your advantage, but trading in comfortable conditions is still very important.

The very study of trading will lead to the fact that each trader will be required to have his own personal trading system, which will bring him profit. This is why you should not buy expensive trading systems, because... There is not much benefit from them - you can get by with free analogues.

One way or another, you will still have to create your own trading system - there is no escape from this if you want to become a profitable trader. But you don’t have to create everything from scratch - you can adjust or modify an existing trading system for yourself.

At the same time, there is no point in trying to use other people's trading systems if you are not the most experienced trader. Here, either you know how to manage your capital very well and the trading method is not important to you to make money, or you have iron discipline, thanks to which you are able to strictly follow the rules of someone else's trading system. My case is something between these two important components of profitable trading: I try as much as possible to control my risks in trading, but at the same time I have not the worst discipline, although I am far from ideal!

This allows me to trade using other people's trading strategies, analyze them, and then create something of my own. Simply put, I take the best from others and put it all together for personal trading. At the same time, there are a number of strategies that I’m not even going to touch on, because... I don’t like them initially - if I don’t like something, then I need to change it or abandon it altogether. This approach has proven itself very well in Binary Options trading.

Very often there are cases when a novice trader nevertheless finds a strategy that closes most of his transactions in a day in the black. The first thought is “This is the strategy that will bring me money!” But the next day everything changes and the strategy brings losses. One-day indicators do not at all mean that a trading strategy is good or bad: good trading strategies can bring losses, and bad trading strategies can sometimes make money.

The situation is similar with traders: a trader cannot be considered bad if he cannot make money, just as a trader cannot be considered good if he closed two days in the black. Hence, many novice traders consider themselves professionals after a number of profitable trades, while more experienced traders begin to doubt their abilities after several losing days. You should always assess the situation soberly in relation to yourself and in relation to your trading strategy.

The forums are filled with screenshots and videos showing a profitable trading session - even a beginner can get lucky in trading, but luck runs out sooner or later. What is the point in the fact that today I made a million and boasted to everyone, and the next day I lost three million?! But the results for the year are already an indicator! True, 90% of novice traders do not live up to this time in trading - the market simply carries them forward feet first, so all their “results” are pure chance, and not a pattern. What can you do - this is the price of a wrong attitude to trading.

Correct study of trading on Binary options

And yet there is a secret to success in trading. Moreover, it is divided into stages that should make your path easier:
  • Learning the basics of trading: risk management, money management, trading psychology, trading discipline
  • Studying ready-made trading systems and indicators - trading experience is always needed, so the more you know and understand, the easier it will be later
  • Studying various methods of market analysis: choose 2-3 types of analysis for yourself and gradually delve into them, also be sure to familiarize yourself with fundamental analysis (at least superficially, for starters)
  • Read more books about trading - there is a lot of useful information that will be useful to you
Already at the second stage, you will understand what you like and what works for you - you will find several trading strategies whose work you understand well. This is what you need! Identify the strengths and weaknesses of these strategies, find the reason why you are comfortable trading this particular trading method. Think about what could improve your trading results.

best trading strategy

All this will prepare you for a very important step - creating your own trading system that will bring profit to you. The process is not quick and quite difficult. You will change the components of your trading system dozens of times, rewrite the rules, make amendments, but you need all this because:
  • In trading, only your own trading methodology works
  • There are no ready-made universal trading systems for everyone, and there never will be
But at the same time, at this stage, the next part of traders who have reached this point “falls off” - creating their own trading strategy is:
  • Long
  • Difficult
  • Requires persistence
  • Requires a lot of knowledge
Without all this, the trader will either not finish the job, or will create something that will never work - what the “Gurus” of Binary Trading usually sell (time is wasted, which means that any financial “support” is needed).

Create your own trading system for Binary Options

Creating your own trading methodology is the only way to profitable trading.

I’m sure you already have questions on the topic: “why can’t you always use other people’s trading strategies that show good results?” The answer is very simple - the market changes, which means that trading strategies stop working for some time. I doubt that you have the knowledge that will allow you to adjust this trading strategy to the changing market and not break anything there.

As a rule, in such situations, novice traders simply throw out strategies that began to give a lot of false signals, because they do not know how to fix it. At the same time, your own trading system is a unique tool that can be disassembled and reassembled, taking into account the changing market.

The process looks like this:
  • Take a trading strategy - remove from it, in your opinion, what is unnecessary or add what is missing (trade entry rule, indicator, time frame)
  • The resulting mixture is tested, and the results are analyzed, after which changes are made again - something is removed, something is added, something is changed
  • Testing again. Analysis again. Finalizing the strategy again
  • The process continues until the trader is satisfied with the result obtained
The result is the following: the trader always has a backup plan, which he can return to at any time and adapt to the market. Moreover, the trader has gained experience in creating trading systems - which is more important. In addition, the very creation of a trading system from scratch (or modification of an existing one) is always a very serious reason to learn a lot of new things about trading and methods of market analysis. This knowledge is very important and significantly increases the amount of information that a trader absorbs.

There is no 100% trading strategy for Binary Options

You can’t even imagine how often different people write to me asking “to give them a profitable trading strategy or system so that they can start making money.” They see me as an experienced trader who will give them the “Loot” button from his master’s shoulder.

Honestly, I have long been tired of answering such questions, so on this site, at the time of writing this article, there are as many as four collections of strategies that, personally, brought me money in trading. All this was done because I was tired of wasting time trying to explain to these people that in trading, the fundamentals are much more important than the trading strategy. But since people need a strategy, then I give it to them.

Another popular question that often plagues me is “What is the percentage of profitable trades for this strategy?” How do I know what percentage of profitable trades you will have when using this strategy?! I have my own percentage, you will have yours - we are two different people, with different preferences and views, not to mention the time of trading.

a trader's earnings depend on his

But that's not all - there are also questions like “Will you sell me your best trading strategy? I know that it is not on your website, but I know that it exists, you just don’t show it!” Apparently, these are people who believe in conspiracies everywhere and in everything. Honestly, I get stupefied when I see this, because, having answered that there is nothing like that, these people begin to consider themselves unworthy for me to let them in on the secrets of my earnings.

And my favorite question that constantly litters my personal messages is “Do you give trading signals?” No!

Why am I telling you all this? Do I really think this will be interesting to you? No, it's all for business. Everything that I said above is a very clear example of the fact that novice traders only want freebies! It doesn't matter what form it will be in:
  • Free trading strategies from a professional
  • Paid trading systems from the “teacher”
  • Trading signals, including paid ones
The desire to get easy money is above all else for these people. But, for those who have even the most primitive intelligence, there is a very easy way to profit from this. Demand creates supply! One moment and from all sides they will sell you “300% trading systems”, guaranteed training courses that will make you a professional, unique trading signals “turn off your brain and place bets”, paid teachers who will teach you how to trade using their trading system...

Do you really think that all this will work for you?! You will not be able to influence the result of your trading in any way, much less improve it - other people’s trading methods will remain alien. They will not be yours! A professional will never force you to trade using his trading system - he knows that it is useless and pointless. But the one who wants to make money from you in one way or another will tell you that his trading method is the only correct one in this world.

Do you need a very profitable trading system? Please – Bollinger Bands indicator. I'm sorry, what? Have you tried but failed to make money? It’s strange, but Bill Williams made huge amounts of money using this indicator... It turns out that the indicator is still very profitable, but not in your hands! This is exactly how it will always be - someone creates their own “100% trading system” and personally makes money on it, and someone tries to make their way easier by using someone else’s trading methodology and loses all their money.

Knowing this, think about whether it is worth looking for a “100% trading system”? You won't find it anyway, and you'll waste time. Isn't it better to create something of your own - something that will work for you?!

But who needs my words? I myself spent a lot of time searching for “that very strategy” without listening to anyone.

The Grail of the Binary Options Trader

Finding the Grail is the “easy way” for the Binary Options trader. The only problem is that this path only takes time. The search for the Grail forced a huge number of traders to leave trading, and everything happens as follows:
  • In a book, on a website, on a forum, or from friends, a trader learns about the next “Grail”
  • The acquaintance is successful - the operation of the trading system is logical and understandable
  • But attempts to use this trading method turn into complete failure, and it all depends on the amount that the trader lost in trading
  • If the amount hits your pocket significantly, then the trader’s career is over
  • If the amount is not the largest, then the trader continues to look for a new “Grail”

Advice, advice and more advice for Binary Options traders

Every experienced trader has made many mistakes along the way. But there are a number of tips that I hope will help you avoid unnecessary problems:
  • Don’t look for the “Get Loot” button - there isn’t one!
  • Do not expect stable profits from the market
  • Love trade - you need to love your job
  • Be realistic - don’t live in the illusion of your success or insignificance
  • Accept one thing - all strategies are successful, but perhaps not in your hands
  • Create your own trading method and constantly improve it and adapt it to the market
Prepare yourself in advance for the fact that there are no ready-made strategies - they always need to be modified to suit you or created from scratch.

Experience is your main ally. Knowledge will not disappear from you, but will only accumulate, which will allow you to gradually improve your trading results. Even if you are a novice trader and have just read past articles from this training course, then you already know much more than 70-80% of all traders, and knowledge will continue to accumulate.

How long will they accumulate and when can they be used? They will accumulate all the time - there is no escape from this. But everything else will depend only on you - for some the first results appear faster, for others it takes longer.

Either way, your time won't be wasted. If you are really interested in trading, then during your studies you will:
  • Read a lot of books about trading
  • Try hundreds of trading strategies to identify their best qualities and gain experience and understanding of the market
  • Visit dozens of forums and read hundreds of articles
  • Create your own trading methodology that will allow you to earn consistently
Having gone all this way, you yourself will give advice to novice traders, point out their mistakes, and show them the right path. And at this very moment you will understand that you have achieved what you wanted - you have become an experienced trader who makes money in trading.

Having closed another year in the black, and looking back, you will feel this wonderful moment of relief - “This whole difficult path is behind me, I had the patience and perseverance to get through it. I achieved the results I deserve!”
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