1. Choose your broker carefully.

The very fact that you are here on our site tells me that you are already keen on choosing a broker who is going to provide you with the best tools for trading. Have a look at our broker reviews to find out about the best and worse binary options brokers out there. Familiarizing yourself with scams will help you to avoid not only the brokers we urge you to steer clear of, but also to recognize scams we have not discovered yet. On our list of recommended brokers, you will find legitimate companies to deal with that offer numerous types of trades, excellent features, a ton of assets, and the best customer service around. When you choose the right broker, you give yourself the best shot at profiting, and you protect your profits!

2.Control your Emotions

One of the most common mistakes novice traders make is letting their emotions lead the way. Don’t forget that binary option trading is a job that is entirely based on analysis, complex calculations and understanding of the global markets. Every experienced trader knows that factors as luck, good feeling etc. do not exist. You can only rely on your skills and analysis based on the news and data provided by the technical tools you use. If you are having a bad day and you’ve lost a lot of money, it is probably a good idea to stop trading for the day, because you won’t be thinking clearly and you may make some mistakes which you’ll regret on the next day. Trust your strategy, develop your analysis skills and never rely on things such as luck, intuition or ‘having a good day’.

3.Update your Knowledge about Current Strategies

As market conditions continue to change at a rapid pace, it is important for traders to keep up-to-date with the latest trends, trading strategies and market news. Using a platform with a comprehensive education center which offers traders a variety of resources that can enhance their trading experience is highly advantageous to all traders. Keeping an eye on the current market updates and movements are a key component of any trading strategy.

4.Trading Practice

One of things you must know about binary options’ trading is that it requires practice and practice, when it comes to investments, requires money.

So, bear in mind that you should have a small fund that you can lose in order to learn and get better. Be sure to avoid investing with money you can’t lose, as on your first trades you’ll likely to kiss your money goodbye.

5.Build a Long-term Investment Plan

Although you could get very high payouts from individual trades, if you want to enjoy consistently high profits you need to prepare a long-term strategy. No matter what binary websites claim, reaping huge rewards doesn’t come quickly and easily. Therefore you will have to make a plan how to invest over a long period of time.

Consider these tips and try to apply some of them as soon as possible–and don’t forget to practice trading often!

Name
USA FRIENDLY
Bonus
Deposit
Payout %
Review
Banc De Binary
$8000
$250
100%
IQ-option-logo
IQ Option
Non
$10
92%
porter-finance-logo
Porter Finance
10 Risk Free
$200
83%

Find the top binary options brokers you can trade with on our binary options brokers page