Nobody will argue that binary options can yield a decent profit to an investor, and they don’t require too much effort. If you have read my articles, you know about my success and experience of other investors.
Today, I’m going to tell you how you can improve your performance and get the highest yield from binary option trading.
Investors who followed my recommendations have already increased their profit by 20 to 30 per cent. Using this information and avoiding common mistakes, you will considerably improve your performance and get a habit of making less mistakes and making more money. Let’s us start with considering common investor mistakes.
This may seem obvious, but actually many investors lack investment discipline. If an investor doesn’t have a precise plan of actions, he starts doubting his decisions and exposes himself to the risk of losing too much money.
For instance, you choose financial strategy of budget management but you stop following your plan after two to three losses.
Or, you have developed your unique strategy or system, and you don’t stick to it. As a result, you have acquired the bad habit of moving away from the chosen strategy. You take wrong steps, lose money and balance.
Undoubtedly, nobody will refuse from a 70 to 80 per cent profit in just one minute. However, an investor being tempted to make money quickly on such options forgets about even basic analysis and possible risks. He relies just on his intuition and a small picture on a price chart when he tries to pinpoint what direction the price will take.
After two or three losses, this investor becomes discouraged and puts up with impossibility of making a huge profit. As a result, the investor puts in all his money in a single option. Generally, an investor loses his money.
But why to destroy your potential source of income? Only experienced investors really “feeling” market and having enough experience in analysis or investors using short-term strategies may invest in short-terms options.
An optimum period of investment for most investors is at least an hour or longer because the longer the period of investment is, the higher the chance of making a decent profit despite of noise or intermediate price fluctuations.
Analysis of Losses
If you have lost money after bad investment, don’t put up with it or forget about it.
The earlier you understand a cause of our loss and reveal your mistakes in the analysis and forecast, the less money you will lose in future. This is why you as a real investor have to analyze mistakes regularly, strengthen your strong points and get rid of your drawbacks. Due to this approach, you will be able to make a profit even on losses!
“We cannot solve our problems with the same thinking we used when we created them.”
An Increase in Investment
Another common investor mistake is an increase in investment after losses. It’s obvious why an investor makes this decision. He wants to recover his losses as soon as possible on investment, say, in Fiat stock.
But if you don’t analyze why you have lost you can face the same mistakes and lose even more money. This is why if you made a loss, thoroughly analyze the situation. If it’s necessary, decrease your investment until you start making a steady profit.
I’m pretty sure that most of you have never even thought about this approach to investment in binary options. But as soon as you start to analyze regularly both options and your trading strategy, you will be able to considerably increase your profit.
I want to remind you that you should deal only with reliable brokers having licenses and good reputation. For instance, I deal with AnyOption. This is a reliable broker licensed by CySec and regulated by the EU’s financial institutions. In case of a bad deal, AnyOption is the only broker who refunds up to 25 per cent to your account. As binary options yield a high profit, this is really an attractive opportunity for investors. No other broker offers this condition.