As a binary options trader, your money management strategy is the one variable that will give you the biggest edge in trading . You cannot control the markets but you can control your money and your risk on each and every trade that you make.

A good trading system or strategy is absolutely worthless without a method of managing your money. You like to trade binary options right? You like to make money in the markets right? Well, you will not have any money to trade with if you do not follow good money management practices!

Wire Out Profits

Whenever you have a great trading day where you take some large profits, it can be tempting to try to repeat this success the next day. Whenever I get over $100,000 in my trading account and find that I am trading wildly the next day, I will wire out and take my balance to $60-70,000. Why do I do this? The answer is simple. When you wire money out of your trading account, you protect your gains.

Avoid From Risking Too Much

The size of your overall risk capital will be a factor determining the upper limit of your position size. You might consider it prudent to risk no more than 5% of your overall risk capital in any one trade.

Limit Your Opend Trades

It isn’t easy to manage trades by moving stop or taking profits manually if you have a lot of trades and only two hands! You must be able to manage trades manually in case of any strong move on the markets. Even if you are not day trader but you are swing trader, it can happen.

The absolute maximum for a single person is eight open positions at once. Don’t surpass this hard limit.

Over Trading

Most traders trade too much, and that is just a fact. Over-trading usually stems from traders trading without a solid trading plan, or without one at all, because when you don’t have a plan or at least a general guide of what you will do in the markets, you end up ‘shooting first’ and asking questions later.which is definitely not the best way to trade. If you have fully mastered your trading edge and developed it into a comprehensive trading plan, you have no reason to trade when your edge is not present, unless you deviate from your plan.

Name
USA FRIENDLY
Bonus
Deposit
Payout %
Review
Banc De Binary
$8000
$250
100%
24Option
Unlimited
$250
89%
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Porter Finance
10 Risk Free
$200
83%