Some binary option traders think that – they can become rich overnight by trading with Binary option robots and auto trading robots. Before we discuss any further on this topic, can you answer the following few questions.
- Why some stranger in the market would sell you an software which can make million dollar profit for few bucks?
- If that software could make millions, why not the seller open multiple accounts with multiple brokers and make billions of dollar?
Same thing applies to the trading signals. We never think abut who gives these trading ideas? How much money they make for their own recommendations? What is their intentions behind the recommendations?
Binary Option Robots – Do’s
Although there are some performing Binary Option Robots in the market, they don’t just work out of box automatically. To use these Robots successfully, you must use it as recommended by the developer. You should check yourself its performance in a demo trading account. You should find out the best assets and time frame it works well.
Binary Option Signals – Do’s
Following the recommendations from spurious sources is very much equivalent to gambling. Hence you must find out how to take a balanced and informed decision. Well, there are many simple tools & techniques to identify the movement of a stock or Forex pair.
There are many money management strategies to protect your investments in case of continuous losses. You must understand the risk capability and stick to the money management rules even in worst scenarios. Don’t trade any recommendation blindly, try to understand the idea behind it and trade responsibly. Try to learn and understand some simple technical analysis and trade with the trend.One can learn technical analysis but mastering it requires years of hard work and experience.
