It's true that binary trading is profitable; however, you need to do it right. Studies show that most newbies make plenty of mistakes that result to them having unpleasant experiences with binary trading. To have a great experience and also make profits you need to avoid making these mistakes discussed by Yee Kok Siong a forex and currency trader:
Jumping in It's common for people to jump into something simply because they have heard that it's profitable. This shouldn't be you. While binary trading is profitable, you shouldn't start trading with the first broker that you come across. You should take your time to research and find a reputable broker who will guide you through the process. The professional should have an easy to use trading platform. He/she should also have a detailed resource page that gives you all the information that you need to kick start your career as a binary options trader. The cool thing is that you don't have to leave your desk to research about the trading broker that you are interested in. There are plenty of review sites that you can visit and get to know more about the broker. Failing to learn how to trade In the haste to make money, most traders don't take their time to learn how to trade. Most of them follow what experienced traders are doing. Others use trade copiers and robots to trade. While you can use a robot or copy the trading patterns of some experienced traders and make some money, you can't do it long term. In fact, chances are that you will make more losses than profits when you do this. To increase your chances of success in binary trading you need to take your time to learn how to trade. The cool thing is that most of the binary trading brokers provide demo accounts that have the same features present in real accounts. You use the virtual money thus you don't have to worry about losing money. Before you can invest your money in a real account you should make use of these demo accounts and learn the ins and outs of binary trading. Not making use of the stop loss features You may have come across traders who say that they will never trade again as they lost all their money overnight. If you research you will find that most of them lost their money because they didn't make use of the stop loss feature. This is a feature that allows you to set the maximum amount that you are willing to lose. With the feature in action, you don't have to worry as you can't lose a lot of money in the event the market goes against you. Gambling It's true that binary trading is all about taking risks but it isn't the same thing as gambling. In binary trading, you make an informed risk after you have read the market for some time. Some people make the mistake of opening many trades with the hope that some of them will make profits. In the end, they lose all of their money. To avoid making losses you should trade-not gamble. This means that you should research and find the direction that the market is more likely to tip and it's only after this should you open a trade. To learn more, please click here
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As a lot of traders and experts believe that Bitcoin price charts are extremely useful for trading, many of them also believe that these are indispensable tool for Bitcoin price analysis today. Additionally, these can be used for trading the digital currency professionally as with them trading decisions are made based on some facts and analysis. Notwithstanding what for the purpose Bitcoin price live tool can be extremely useful as it will guide you through the trading. Thus, all those who have traded equities know it well how important it is to have access to technical charts. Similarly, in Bitcoin trading, there should be some price charts that indicate where the prices are heading. A lot of traders believe that when you are exchanging the digital currency, it is important for you that you have access to the latest Bitcoin news but also the price movement. Yee Kok Siong is of the view, with Bitcoin price analysis today you can make profitable trading and even when you are trading the cryptocurrency very sparsely, you should look for Bitcoin price chart. Profits Make a Man a Trader As it is said practice makes a man perfect, in trading profit makes you perfect trader. It is the track record that matters; therefore, you should focus on everything that makes you a successful trader. With Bitcoin price analysis today you can make informed decision. The traders who have subscribed to the analysis make better trading decisions. Additionally, the latest and updated Bitcoin price chart claim that it is very much like the ticker that they see in stock market where the stock's price is quoted. Out of a range of trading tools that are being used by traders around the world, Bitcoin price analysis today is the one tool that are extremely useful for traders exchanging the cryptocurrency. Great Trading Decisions Bring Great Returns Bitcoin trading using software has been growing in popularity at various parts of the world and Bitcoin price analysis today still used by a lot of traders. Some traders believe that as Bitcoin trading is done online, anyone can now do it via an internet connection on his or her computer. However, it is the access to the right trading tools that help them in the pursuit. Lastly, a lot of online traders first subscribe to the Bitcoin price chart to do Bitcoin price analysis today. As has been mentioned above, online trading does not only involve the retail trader looking at live price fluctuations but also involves chart analysis. To learn more, please click here Up to this date, the usability, function and exchange of Bitcoins and other digital currencies have been limited and circulating around small communities-group of individuals or large enterprises-who have ventured into the world of digital currency. Since the community is small, the ability to spend or trade it for various products is also limited and a lot of this currency owners hope that it can be widely accepted in the future. Although these are possible, this will take time and a lot of discussions as the concern for safety and security is at large. Besides that, the government and some large institutions are threatened with the possibility of using such a system. The Reluctance Not many people widely accept digital currency. If you haven't heard of it or aren't one of those who have spent much of your time understanding, mining and acquiring the said currencies, you will not feel safe trading in or acquiring such currencies in exchange of items that you wish to sell or have. It has not been accepted widely and the fear of the loss it may acquire in the future is great due to the fact that there is no governing body in it. People would need to feel safe using it but this would normally require the interference and approval of the government and general sectors of the financial market. The Need for a Controlling body The transfer to digital currency would allow people to make online trading without issuing actual and paper money which are prone to being stolen. However, it is not a hidden fact that some digital currencies have been stolen too. The government would want to control it as there is a significant amount of income from the exchanges and trade. Other sectors not open to the actual value of digital currencies may find it hard to liquidate their assets and make use of digital currency exchanges. Although the future of digital currency adoption is greatly possible, the greatest risk everyone has to deal with would be the security. For example, PayPal is trying to impose this on their system (the news of which eventually made the value of Bitcoin rise in one day) but the problem is, delivery schedules may often not be met and it would be hard to recover the said currency-also includes defects on products upon delivery. The possible adoption could take time and effort from both the government and independent sectors to work out the glitches in connection with fraudulent acts over the internet and sectors wishing to sabotage the project. ***************** This piece of information is shared by Yee Kok Siong, an arbitrageur and an investor. Mr. Siong has done a fair amount of research, understanding the crypto world and technology behind it. A very new technology with almost 99.6% of World’s population ignorant or out of reach made Yee Kok Siong realize the kind of potential and opportunity this market holds and return that is available for the investors and trader. To learn more, please visit here: http://yeekoksiong.strikingly.com The popularity of binary options started in 1973 and has grown over the years to more than 3 billion by 2007. Options provide many benefits including lesser risk, cost efficiency, higher potential returns and more strategic alternatives. Furthermore, there are online brokerages providing opportunities to the option market through the internet at competitively low-commission costs. Therefore, the average investor has the opportunity to use powerful tools to invest just like the professionals. However, like all investments options bear some risks. Some of the potential risks traders may face in the options market discussed below by Yee Kok Siong: Market risk Like other investments, trading in options involve market risk. Having an awareness of the presence of this risk can help reduce some of the uncertainties. This will help traders or investors to focus on the investment, knowing where some of the pitfalls lie. Markets have a tendency of moving in various directions, often with little or no warning. Although, there are several ways of predicting potential market movements, the most thorough analysis may not pinpoint exactly all the market directions. Precise profit & loss points Unlike most of the other investments, options are determined by the slightest movement or tick. Therefore, the value of options can be determined by as little as 3 or 4 decimal points. In other words, even 0.0001 points can make a difference between making a profit or loss. Capped profit amount Although risks cannot be eliminated completely, option traders should be aware of the fixed profits. The gains and losses can be fixed to ensure there is ideally no unlimited upside potential with the investments. Illiquid Generally, options are not deemed "liquid" type of investments. As a result, because they cannot be exercised at will investors or traders need to wait until the expiry date of the options before they can take profits or losses. Sparse regulation The greatest risk associated with trading in options, markets are not regulated. Although there are several regulations, there is the possibility of some traders using unscrupulous practices. By reading through the customer reviews you will be able to know the experiences of real investors in the hands of a particular financial trader. No ownership of the assets Options are generally a wager towards the direction of the underlying asset. Therefore, traders do not invest in the ownership of tangible assets. Although many of the investors have no problem with this kind of investing, some of them see a potential risk. Click here to learn more! |
About Mr SiongAn arbitrageur and an investor and in the eyes of banker an HNI. Mr. Siong is a self-motivated entrepreneur who believes that no market is perfect and it is up-to an individual to understand that imperfect gap and business opportunity and make the most out of i Archives
December 2018
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