Developing a successful binary options trading strategy is not as simple as it might look at first glance. The key is persistence, discipline and a solid trading education. There are many trading strategies flooding the internet but the truth is: Many of them won’t work and often even cause more trouble.
Hint: we recommend to start with a free demo account at the only fully regulated and legal binary options broker in the US: Nadex. There you can try out your strategies without any risk and see if they work out for you. Click here to get your free demo account!
Binary options are one of the best and most rewarding opportunities to trade the financial markets. However, it is clear that there is no magic bullet. However, there are three principles all successful traders have in common:
- Successful traders have a simple method
- Successful traders can control their emotions
- Successful traders are professionally disciplined
One of the biggest mistakes many traders make is their tendency to make the market more complicated than it actually is. The most successful traders have a very simple set of rules. KISS stands for “keep it stupid simple”. This is the way to go.
The second major problem that many struggling traders have is their inability to get past the feeling of loss. You have to learn to deal with your emotions and it’s crucial to have a plan to deal and control these emotions.
The last key characteristic of any successful trader is self-discipline. If you want to get good at trading you have to be persistent. There is no easy way around it.
Binary Options Trading Systems
There are many traders who are lucky at some point and hit a few big winners. They make a profit but most of them give it back soon afterwards. They suffer from poor self-discipline, poor control of their emotions and a poor trading system.
Binary options trading system is actually the wrong term – it’s more a method than a system. To say it harshly: FORGET ABOUT THIS MECHANICAL SYSTEM. A mechanical system offers no flexibility and will break down over time. It’s best to think about it as a set of rules. It is more of a METHOD than a system – a simple way of developing a unique approach to think about the market rather than a strict trading system..
Easy Binary Option is your best resource to develop and improve your own and unique trading method. We share our knowledge to get you started in the market and to improve as a trader. We don’t want you to be average – we want you to be the best you can. However, there are a two things you should know:
- You won’t get rich overnight in the binary options market.
- Even the best trading method and strategy will not make you money if you don’t practice proper money management (which is actually very easy in binary options trading).
Most of our strategies are price action based which basically means the raw price movement. We identify major trends using smaller counter-trend movements around support and resistance areas to enter within these major trends. This is the way most successful major financial institutions are trading in the market.