It feels good to have real cash in your hands, and even better when the flow of real money can turn from a monthly affair (for those who have a job) into a weekly or even daily affair. With binary options trading, you can make real money on a daily affair by using the short term trades in the market. What should a binary options trader do in order to profit?
Open a Trade Account with a Regulated Broker
If you don’t do that, you can as well kiss goodbye to your funds. It has happened to others, and only a fool will prefer to learn from his own experience when there are several of other people’s experiences to learn from. It is funny how people want to make real money from binary options trading, but neglect this key step. The best way to do this is to find out where the binary options broker is truly located and then contact the regulatory agency for the status of such a broker.
Practice with a Binary Options Virtual Trading Account
Check to see if the broker you chose in step 1 offers a demo account. If they offer one in exchange for a deposit, make do with this. If not, you can check out any of the no-deposit brokers who give a real account bonus. This way, you can get a feel of what it is to try to profit from a live account without a deposit of your own funds. You can also use BOM’s free demo account which is a good place to learn from.
Trading with Real Reasonable Money
I really do not understand why anyone who seriously wants to trade binary options for money will start with $100 and hope to rake in thousands of dollars after a short time. Starting small is a breeder of unbridled risk. The best bet is to start with some good amount of capital. If it takes the same effort to trade $100 as it does to trade $10,000, would it not be best to take some time to work to raise sufficient trade capital? In the financial world, it takes money to make money and binary options are no exception. The more of it you trade with, the more you can make.
Keep it Really Simple
There is no point confusing one’s self with all manner of strategies and trading every asset in the market. It is possible to learn, master and use one trading strategy on two assets and still make money. This also has a correlation with point c) above. Those who can afford to commit $200 into a sure trade and get 3 winners a week will walk away with $2400 a month. With a large capital and fewer trades on the account, it is more likely to achieve stress-free success in binary options than using little capital and being forced into many trades to meet targets.
Learn to Keep Your Trade Risks Low
Do not be careless by trading all over the place with hurried trades not well thought out. If you are patient to carefully filter trades and take just the ones that are sure to succeed, then this is the best pathway to profit trading the binary options market.