Internet, now-a-days seems to be the most trending and easiest way to make money Online. Not only it helps people to generate passive income, it has also created thousands of millionaires who are living a lavishing life which a brick and mortar Businessman not able to achieve in the whole life. In the previous post I have published a beginners guide on What exactly are “Binary Options“. In the series of that, this article is solely created to help the traders(specifically newbie traders) to be successful in this and able to make money with Binary Options. But it’s a strong recommendation that you must read that article first, as it covers all the basics, and you will find very hard to understand this article without that.
What you need to understand very clearly?
1) You will not generate money always:
Almost everything in this World comes up with risk and Trading & Options just tops the list. Not every day will be the day you can say that “I have earned…”. Pitfalls will always be there. But what you need is to stick with it. You need to learn from your mistakes and with every trade you will gain experience that will spark you future.
2) Beginning may not always be a good time
“Start” is the thing everyone wants to be the best but only few of them are so lucky. And what mostly has seen in this industry is that new traders invest a particular amount, they trade 2-3 times, lose it and than quit. And this is the fear you have to overcome on. We all are somehow Beginners, and that’s why it’s our birth right to do mistakes. But this doesn’t mean that we should stop doing what we have started. This only means that we need to revise over selves. And the best advice i can give you is to seek guidance from Experienced Traders. Be in touch with them, ask questions, joins forums and learn.
3) The maximum amount to invest
I don’t have an advice to a professional trader as to what amount he/she should risk in Binary options. But what I have for starters is an exact module that will help you to gain enough and not loose your hope(P.S- if you follow it).
Suppose you have invested 100$ binary options with your brokers account. You are damn sure that a particular asset(say Gold) will increase till the end of the day. So you have entered all your amount in it and at the end of the day it’s price fall and you are empty handed.
What you need to do is to only spend 3%-5% of your invested amount. If you have invested 100$, than you will only trade for 3$-5$ in a particular asset. For 200$, you will only trade for 6$-10$ and so on. If you will continue to follow this model than it will give you an outcome you never have imagined.
What to do to Earn Right from the Start with Binary Options?
This will be 3 step guide that you need to follow as suggested Below
Understanding the Basics
If you have never invested any amount in trading before(be it a forex, stock or commodity), than you need to learn a lot to understand the most common terms. No doubt you will learn the most when you have practically played with it, but at-least you have an overview of what’s going on in the whole trading market.
Recognize the trend
Research, Research & Research!!!! The whole mantra behind any successful trader. Whenever you are investing any money on a particular asset, analysis it deeply. See if there are future events that will surely have an impact on it(rise or fall). There is always one thing that all the professional traders and market analyst believes in i.e “monitoring of trends” . An asset will definitely have an impact in the direction of great financial powers like investment Funds and Banks.
What we need to focus is on the asset history. If the asset value is continuously increasing, than the chances that the asset will rise in the future are much more as compared to it’s decreasing value. And therefore you need to choose that asset and invest on it. The logic will be same in case of decline.
An example so that you can understand easily
You can clearly see that the value of the asset is increasing continuously. And if you put a CALL to it than the probability of getting returns are much more as compared to the loss.
Same is the case of this. If you take PUT option for this than you will definitely generate money.
Choose the right Broker to Make Money with Binary options
Thousands of Binary Options brokers are out in the market who are willing to provide their services. But what’s best for you and who will complete your dream “I will make money from Binary Options” is the most important decision to made. So what I advice you to read reviews about the company. What their customers and employees are saying. Their commission rates and all that. It’s a complicated process. But you need not to worry because I had published a well researched list of Best 5 Binary Options Brokers along with their pros and cons. Also a detailed review of Superoptions.com(one of the top Binary Options Brokers) has also been published on our site. So you can check it out!!