Options and Crypto trading is one of the major online income work that people devote to master. However, many of these people fail and lose money while in the course of making money. Losers are always more than the one who profit, hence, we ask the question, why is this always the case. Before you start trading, you should understand the basic principles that are based on this type of online income.
The market speaks
The mind makes decisions
You are the key, the strategy is not the key
This three principle teaches you about discipline and resilience. In the binary options market, psychological pressure is always inbound and temptations will always be on your way. The market is an ocean of peoples decisions whether a particular currency pair will be bullish (go up) or bearish (go down). This is what makes the market to be volatile.
How to make it in trading
After having the ability to control your mind's emotions, cryptos and options will be simpler to understand and make decisions. This means you have to be a person with discipline and patience.
There are three stages to the successful trading of binary options
Discovery: This is the first stage where most people remain for a very long time. It involves very many acts of the human psychology. At this stage, you learn about binary options, you discover new strategy, you get new friends and join many groups. Most people are so enthusiastic on this stage and tend to feel like they are already making money. At the same stage, you also make a lot of money from an account as small as 10 dollars and lose it all in a couple of minutes. This stage will always close at a loss and disappointment. The key to leaving this stage is learning a strategy and being identified with it. Sticking to one strategy will push you to the next stage.
Actualization: Your strategy will be developed by you while trading daily with it. This stage involves testing your psychological behavior. It is full of temptations and back slacking. The best way to beat this stage is through backtesting for at least 2 months to be confident. Actualization stage involves making your market decisions a practice and later a pattern. backsliding to the previous stage is very easy. One will stop believing in their strategy and you are back to discovery. After weeks of constant profit without trading against your strategy, perfection stage kicks in.
Perfection: Professionally trading binary options for a living. Your trust yourself and understand that some losing streaks are not failures. At this point, you can trade in profit constantly.
Which stage are you in?
Most of you are still in stage one and to help you leave the stage, the next article will feature the most amazing strategies of binary options and forex that most traders use. You will pick one and practice it until you get to stage three
Create your free IQ option account here: https://affiliate.iqoption.com/redir/?aff=37213&afftrack=blog&instrument=options
For Crypto Currencies: https://iqoption.com/lp/ultimate-trading/en/?active=crypto1&aff=37213&afftrack=blog