Discussion in 'Learn Basic Binary Options Trading' started by Sandra S., Jan 27, 2016.
Something very important...
Money management is no doubt very important in trading, it is actually the right approach as how you manage your risks about investing money.
Money management is very necessary to trade successfully. If a trader can manage his trade and have good money management strategy then it can help him to make consistent profit in binary option trading.
Yeah money management is very important in any kind of trading without which one can’t survive for long. One must practice such management extensively. It also goes without saying that one needs a good broker else any kind of strategy howsoever good would not help. Years ago I was trading with a Binary Option broker, the name I am not remembering which later scammed. They also provided very poor service and cancelled many profit withdrawals!
To be fair, it is too risky to work in Binary Option world; I like Forex much more and is far more rewarding too. However, I believe level of money management is mostly similar. I like to take risk according to 2-3% of my account. I find it extremely easy and manageable under OctaFX given they got sensational deposit bonus which is up to 50% and can be used. I love their policy too which is to do with no restrictions at all.
Of course, money management is very useful and without which one can’t survive for longer. So if not can’t manage the money then you should not be trading. I am grateful to my broker FreshForex which provides the right conditions for trading. They have this Binary Options in which they provide profits upto 186%, insurance for trade and risks managements. You are thus set up for good trading if you can follow some instructions and work your way to top!
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