1.Make sure you choose a good broker to help yourself in the binary field. There are various websites available, but do a good re-search about the broker if they are regulated.
2. I advice to increase your knowledge in the binary option world by learning it by your own before enter the market. You have different courses who could help you. We have also an online education course with one on one coaching and the course will learn you step by step how to trade and where to be aware of.
3.Trading long term serves better returns, and binary options trading is a long term activity. Developing a long term plan for your binary trading and playing the right cards will ensure that you ultimately come out on top. Resist the temptation to get drawn into fads that do not fit into your overall strategies and strictly stick to your drawn plans.
4.Reduce your risks. Beginners tend to get carried away to make that one big score but they must employ some self control as that may be a game changer. New traders lose more money by getting carried away and over trading. So money and emotion control is very important.
5.It is essential to keep a clear head while making any decisions about binary options trading. Beginners should avoid trading when they are emotionally disturbed, as emotions can take over trading and blew up your account easily. So make sure your mind is clean and calm and not stressed at all as otherwise you will make wrong decisions and will get losing trades.
6. Study the market how it behaves and how to trade with it. Like step 2 above upgrade your knowledge. Studying the market and viewing graphs over time can help new traders predict behavior of any binary options asset and their decisions.
7. Be aware of when the news is coming. Depending of what kind of trader you are, but in this scenario when you dont know how to trade the news then please do not trade while there is big news coming up. Mostly there will be firework at the market. Mine advise is when the news is happening to wait at least 45 minutes when continue with trading. We have also into the course an topic with ''how to trade the news''.
8. It is very important to have fun while trading binary options. Beginning binary options traders must ensure that it does not become boring or whatever. If a trader has fun while trading, then he or she will pay more attention and make better decisions----> increasing profits.
I hope this will help you guys a lot when entering the binary option world.
BSB Zen (blueskybinary)