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Binary Option Club
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There are many reasons why traders lose their money, and knowing these mistakes in trading is the first step to getting to the path of success
Trading in various international financial markets, such as Forex or equities, may be a source of profit for many traders, but the majority, especially novices, quickly lose their money because they make trading mistakes that leave them in a fast lane, giving way to more efficient traders. There are many reasons why BOC traders lose their money. Recognizing these mistakes in trading is the first step to success. In this Binary Option Club Reviews, we will talk about the top 7 mistakes made by novice traders that lead them not to profit from trading.
Lack of preparedness
Many novice traders open an Binary Option Club account and start trading real money in the market simply because they read some articles on the web, believing they have understood how to make profits and become rich in a short time. Successful trading in any financial market is like the success of any other profession. It takes considerable time and effort to learn and understand how markets and factors can affect price trends, as well as recognizing the importance of risk assessment and evaluating each transaction properly.
2 – stop learning
Continuing learning is a feature of most successful people in all areas, the same applies to traders in different financial markets. Therefore, you should always devote time to learning either by participating in seminars, reading books or even participating in forums for trading and money markets to meet with other traders and discuss different ideas and opinions. Continuous learning is very important as it makes you adapt to the different changes that markets may know.
3 – not to test the trading strategy
Each successful trader follows a specific strategy dictating when he can enter the deal, the risk ratio, and the time to exit the deal. In order to build a successful trading strategy you should try the ideas you would like to rely on in your strategy before you start trading real money, because trading with real money based on an untested strategy could result in a loss of your head. Ranging from simple to complex to test Binary Option Club trading strategies in different markets based on historical price data.
4. Non-protection of capital
A common mistake that many traders make is to underestimate the importance of capital protection, one of the things that makes many traders lose their money quickly. These traders are quick to enter into deals without having to assess the risks that these deals may contain and the losses that their portfolio may incur. As Warren Buffett says, “The two most important bases for success in investing are: the first rule, not losing, the second rule, not forgetting the first rule!” Therefore, you should diversify your portfolio on multiple assets to minimize risk exposure and use stop loss orders to minimize losses.
5 – Trading only for trading
Trading may become addictive for some people, so they can trade based on the mere hope of profit without any clear strategy. For success in trading and steadfastness in the markets the trader must be equipped with patience and discipline waiting for the right opportunity, the market is always full of opportunities. Every successful trader must have a trading strategy that he / she is committed to implementing in the event that the appropriate conditions and conditions are in place to allow the strategy to be implemented, specifying the time of entry and the exit time from the market, not just opening trading positions and wishing that the market is in your favor.
6. Reverse trading
Novice traders often try to predict a reversal of the trend simply because the price has moved for a long time in a certain direction, so they are buying when the asset has known a significant drop on the basis that the price has reached its lowest level, A big rise was made on the basis that the price has reached its highest level, a common mistake committed by many traders. Therefore, you should know that the probability of a continuation of the trend in the market is always greater than the probability of its reversal, so the trader should not attempt to predict proactively future trends and always trade with the trend.
7. Non-follow-up of global events
In order to increase your chances of success in trading, you have to be following global economic and political events. Different markets are heavily influenced by global events. With each event, you should expect the assets or sectors that may benefit from these events and what assets or sectors may be adversely affected. Understanding how markets are affected by events will make you expect major market trends and thus look for low-risk entry areas and enter the overall trend.
Sometimes financial media highlight successful Binary Option Club traders such as George Soros, Stanley Druckenmiller and Andy Krieger, but most people usually forget that these investors spent years developing their skills. Being a successful trader is something that requires time, preparation and commitment. With patience and discipline you can gradually boost your profits. We offer you 10 tips for success in the Forex market. We wish you a fruitful trading!
The Binary Option Club APP software has been designed to choose 100 people only to achieve his financial dreams in 2017, Binary Option Club Trading Software is an artful app, which turns a daily earning trade and compounds the interest. Binary Option Club is Comes with an 83%+ winning rate and a record breaking trade volume of up to 300 Binary Option Club APP signals daily. We at Tesler have tested Binary Option Club APP and have only positive things to say. Check our comprehensive Binary Option Club APP review. Click below banner to sign up to Binary Option Club Software.