5 Don’t In Binary Option Trading

Since creating this blog in 2015, I have been receiving constant emails from binary traders who are reading my blog telling me about their problems and how much money they have lost during the process.

Therefore I have decided to write this post to share with you guys all the problems they have faced so that you do not have to face the same problem in this process and get straight to process of winning money.

1) Always use a Reliable Broker – This is one of the most important things a trader must take note and this is also one of the most commonly complaint among readers.

I have received a lot of emails from readers who got their money scam by their broker and upon asking them which brokers they are using. It is usually those small and weird name broker who have very short business history. Most of them are just around for at most a year.

In fact, the tactic by those scam broker is to close their company whenever there are a lot of bad reviews about them and then start to open another company to scam people. That is why I often ask my readers and students to aviod those brokers with very short business history as this is a sign of a scam broker.

2) Never Allow Your Broker To Trade For You – Another common complaint among readers is that their broker will offer to trade their account for them and I can say 100% of them lost all their money in the process.

Never trust people with your money as there is no one who is more concerned about your money more than you. If they are such a good trader, why would they need to work for the broker. This is often what I tell those salespeople in the bank when they offer to help me invest the money I have in my account.

Remember this, you should never allow other people to trade your money.

3) Never Trust Those Binary Signals In The Market – I dare to tell all of you here in my blog that 100% of those binary option signals in the market are created by marketers who simply want to make money out of us traders.

If you have taken my course or have been trading binary option successfully, you should know that there is no way anyone can provide binary option signals. The trade can only be confirmed at the final few seconds of entry and how can anyone provide signals for this.

If it is possible, I would have done that for my students.

4) Always Start By Trading Small – For all my students, I always tell them to start by trading small. The problem with most brokers is that they want you to start by trading big and I always advice my students to ignore their advice and trade according to what I teach them and start small.

As your account grows, you can then increase your trade size as you are now trading with your profits and not your own money.

5) Never Trade Without a Reliable Strategy – This is another common problem I see in new traders. They simply go to youtube to learn one or two strategies and then start to trade with their money. Most of the time, these people got their account wiped out as all the strategies in the youtube are general strategies that have not been fine tuned. Worst of all, a big portion of them are created by marketers who know nothing about trading.

There are another groups of traders who simply trade without a strategy. They simply think that binary is just about buy and sell and therefore do not need a strategy. They rely on guesswork which usually cause them to lost all the money.

Trust me, there is no way you can make consistent income from trading without a reliable strategy.

The above are the 5 don’t that you must avoid in order not to lost all the money you have. I have readers who told me that they have 70K scam by their broker and some 10K lost trading using those strategies they learn in youtube.

If you have any question to ask me, simply contact me via the contact me form here

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