More than once attention paid to the fact that emotions for the trader are the main enemy in the binary options trade. It does not matter if an experienced trader is a beginner, everyone can succumb to temptation and do something stupid. To avoid such risks and not lose everything, you need to properly allocate your expenses for transactions. It is necessary to draw up a plan, differentiate risks and fully distribute the deposit. Adhering to such a plan, which will be predetermined in advance, many ill-considered and unnecessary actions can be avoided. To make such a plan for themselves, traders usually follow several rules, namely:
- Determination of the exact number of transactions.
- Size of transactions.
- Variety of trading instruments.
- Balance of assets.
Determination of the exact number of transactions. This means that it is necessary to accurately designate for yourself the figure per day. Calculate this figure is possible with the failure rate. For example, to designate for yourself, do not spend more than two unsuccessful per day. This will allow time to settle down, and not continue to carry out transactions with the hope of covering losses.
Size of the transaction. After the trader has determined the number of transactions, you need to indicate their value. Encourage to enter into the transaction with a cost of no more than 3-5% of the total amount of the deposit. This rule of financial management has saved more than a dozen assets. Thus, you can save the principal amount, even with several failures.
A variety of trading tools. Statistics are such that the percentage of successful trades is greater for those traders who constantly dilute their trades with different instruments, rather than fixate on one. There are so many options contracts that it is difficult to stop on one type of trade, therefore, having determined for yourself a certain number of transactions per day, divide them into two or three different instruments. In addition, such diversity will help improve your skills.
Balance of assets. One of the easiest ways to lose concentration is to overestimate your strength and chase a few rabbits, but when binary options are trading, you do not need to concentrate on just one of them. It is best to determine for yourself the currency pair and the fluctuation in the price of fuel and monitor their changes. In this case, you can keep full attention in reasonable proportions. In addition, if there is an asset that a trader always uses, but for some reason this day, it is not profitable, you need to be able to give up your favorite direction and try yourself in another.
Thus, only a clear distribution of their forces, a cold mind and calculation can bring success on the exchange.