Commercial plan of binary options’ trader
Binary options trading is a usual financial activity, which according to all business cannons, is realized at own risk and fear. But you have to risk in any deal and the more risks there are the stronger emotional tension feels a trader. At the same time, the more emotions there are, the less exact are the deals, the less exact are deals the more losses each of us has from the market. The law of profit redistribution in the market says that losses of one person are the profits of another one, to get losses financial space has a lot of traps. On the whole, according to trading statistics, about 50% of deals with losses are closed by traders, who are under the pressure of their own emotions.
Imagine, if 50% of your loses would come back to your deposits as profits, or, at least, such deals wouldn’t exist in reality?! That is, you would appreciate the situation in market in cold blood and wouldn’t make mistakes. Changing the statistics to a person’s side, trading of everyone would become more profitable, and trading itself, except purses filling, would bring emotional satisfaction.
By the way it is possible to change the statistics to your side. Such methodic has been being used by professional representatives of financial market and is called “Commercial plan of a trader”.
Do you want to get rid of your trader faults? In this case let’s start right now!
We will begin with the fact that to trade options you need a trading plan. In general, such plan is necessary for any kind of activity, connected with finances and risks. This plan suggests making up detailed thought algorithm, taking into account all trading accountancy and also personal advantages and disadvantages. Only in this way you can change your trading to the better side.
You have time to stop reading this article and drain your deposit up to the end! Don’t you like this perspective? In this case, let’s read the next information!
Move away your computer and write with your hand
If you prepared for your plan an electronic form in the computer it’s not right for the first steps to the best trading. As we need a diary, written by hand with a commercial plan of a trader. This is a peculiarity of our sub-consciousness. That’s why let’s learn to write with a hand again.
Learn to think clearly
In your plan you must take into account all outer factors, beginning with fundamental and technical analysis, the time of the biggest volatility in the market, the time of your won trading, weekends and holidays in other countries and the important economical news program. As each of mentioned factors can play Old Harry with you. For example, you decide to trade according to trend trading system, where the volatility in the asset market is important. But you didn’t take into account that the most active time in the market is during European and American trading sessions and started trading in the evening to the market closing. At this time all traders finished their trading day and go home, as a result, the market is quiet, there are no trends, you get loss. We can give a lot of examples of failures of traders plans, where they forgot to take into account important “details”.
What should we include in a commercial trader’s plan
1. Choose a brokerage company for binary options trading. Don’t you know how to choose? Are you afraid to be in the “kitchen”? In this case you are worth looking through ratings the best, which were made up by specialists of our resource.
2. Choose a trading strategy for trading with binary options. But we should point out those strategies, which have already been looked through by us, those which we would like to watch and etc.. not to be confused, because there are plenty of strategies. Don’t you know where to look for? Look at the section of our internet resource, which is called «trading strategies».
3. Create a section – “testing of trading strategies”. In this section we write the information about testing the system, which we have chosen for trading. Don’t you know how to test trading strategies? Get to know such technology in the given article
4. After you chose the strategy, tested it on demo-account and also in strategies tester, create the section “Trading”, where you will write the statistics of you’re your trading with the description of every deal, which you closed But don’t forget to determine all conditions for deals closing to let you to follow created by you rules of trading like a trading mechanism in the future.
5. Come to trading. Abstract from the outside world. There is only you, trading terminal and your commercial trader’s plan. Control your emotions and close deal by deal. Taking into account that chosen by you trading system is profitable (otherwise you won’t choose it) , there is no need to worry. Trade and earn.
6. Money and capital management are important. We won’t speak about these notions in details in this article, but remember you that all traders’ deals must be realized according to capital management strategy. Don’t you understand these notions? Then, read about them here.
7. The analysis of every deal is necessary. Whether it is profitable deal or loss, don’t be lazy to analyze all factors, which accompanied your trading and why you got profit or loss.
The rules exist to follow them. If you follow them completely, we can guarantee profit to you, and more than that you can guarantee it by yourself.
We agree there is a lot of work. However, only in this case every trader can become a real professional. There is no another way.