How to succeed in Fixed Time or Binary Options Trading?
It takes several factors to succeed in Binary Options trading or Fixed Time Trading. Although online trading is easy and accessible to many traders, only 5 to 10 percent of traders are successful. Hence, you must know that you need to outrank 90% of the traders and claim your position among the top 10% with your trading skills and risk management.
- Successful traders trade less often and win more often. To be a successful trader you don’t have to trade more, instead, you need to win more trades. Hence, wait for the right trading setup to build up and trade. With proper analysis, traders are able to achieve more than an 80% success rate.
- Although the market is open 24×5, it is not always a good time to place a trade. The trading platform is available 24×7. But there are only a few times a day, your technical analysis suggests you trade. Wait for finding a trade that satisfies your analysis and indicators. Then only place a trade. By doing so you increase the chance of success while trading. IT IS BETTER NOT TO TRADE THAN TRADING & LOSING MONEY.
Following tips can improve your trading for sure
- Avoid trading in a standstill market. A market without much movement (standstill market), is very unpredictable to trade Binary Options or Fixed Time Trades of short term (60 seconds- 5 minutes). You should trade in the dynamic market and on dynamic assets with proper analysis and prediction to be a successful trader.
- Too Volatile Market. If the market is too volatile, then it is very risky to trade short-term Binary Options trading with expiry ranging from 1 to 5 minutes. Such conditions in the market occur when there are important news releases scheduled. Hence, avoid trading before and after news releases to increase your chances of success while trading Binary Options or Fixed time trades.
- In a ranging market, the movements can be predicted with better accuracy by using the right tools and indicators.
- Discipline – Stick to your trading plan, don’t overtrade or over-risk your capital.
- Control of Emotions while trading – Controlling your emotion while trading plays an important role. Control your emotions and avoid revenge trading after loss-making trades.
- Risk Management – Manage your risks wisely. Never invest more than 1 to 5 percent in any trade. Grow your account slowly. It is not impossible to double your account in one day or in one hour, but it has the risk of losing all the money in 1 hour or day. Hence manage your risks while trading. Remember, we are here to make money, not to lose money.
Online Trading is not a computer game, a mobile game that you can play any time and win. It involves the risk of losing your hard-earned money. Don’t trade in a mobile platform blindly, because usually, you don’t have access (or very limited access) to any analysis tool to help you place a trade. Whereas on your desktop or laptop you can analyze the chart, study the chart pattern, and place a trade.
Remember, successful traders, trade less often and win more often.