When The Market Goes Awry, Get Back To Basics

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When The Market Goes Awry, Get Back To Basics

Getting Back To The Basics Of Trading

The key to successful trading is consistency. You have to consistently execute your trading plan, taking care to follow strict entry rules, in order to gain an edge over the market. This edge should, hopefully, allow you to profit more often then you lose and to win bigger than you lose. Sometimes, times like these, even the most well-though plans can go awry and that is just a fact of trading.

When the market resets like this, when volatility is high and no asset is left unscathed, it pays to get back to the basics of trading. At the core of sound trading is money management and risk control, a factor I think contributed to the scale of the current market sell-off.

What is risk management, money management, and risk control? They are all roses of a different name, frameworks for how to treat a trading account, and the foundation of any successful trader’s arsenal of tools. To start, managing your trading account means preserving your capital. You can’t trade if you don’t have any money. The catch-22 is you can’t make any money if you don’t trade so you have to find a balance.

Most traders like to keep their trades small relative to the size of the account. A trade equal to 5% of the total account value may not sound like a lot but that size trade can whittle an account away quickly with only a few losses. For best results, trades equal to 1% to 3% of the account are best to ensure a long account life. Using a percent versus a set figure is useful for two reasons. The first is that your trade size will grow when your account grows so you make more profit with each win. The second is that the trade size shrinks with each loss so you lose less with each progressive loss.

Successful trader may choose to increase their trade size after a string of wins and that’s ok. A very successful trader may be comfortable with higher percentages like 5% for regular trading and that’s ok too. Successful traders also know that when volatility is up, and the markets are whipsawing like they are, it’s ok to reduce your trade size to reduce your risks.

Another tool for traders is the leverage. You may think of leverage as a gift from the brokers but it’s not. Leverage is a two-edged sword you can use to cut your own head off if you aren’t careful. Just like trade size, it’s ok to reduce leverage when volatility is up. If you win, you are likely to win big and/or quickly and if you lose, well you won’t lose as much as you would have.

Get Some Perspective

What I want to leave you all with is the knowledge that losses happen and that’s ok, it’s a part of trading. What’s not ok is letting those losses wipe you out or getting discouraged. If you are having a hard time with the market, maybe it’s time to take a step back and get a new perspective. I know it’s easy to get caught up in the day to day grind. Taking a step back to see the bigger picture, take look at a different chart, or reassess the fundamental situation is often the best remedy. Winning is hard enough without throwing money away on bad trades or damaging losses.

EmpireOption

EmpireOption is the most popular binary options platform in South America. Its objective is to offer clients an excellent opportunity to enter into the financial market in the most secure and dependable manner. It doesn’t matter if you recently started with binary options or you have lots of experience with it, at EmpireOption you will receive ongoing support the moment you make an investment.

Bonuses and Promotions

At EmpireOption you can receive different bonuses and promotions that allow you to maximize your benefits. One of the most offered bonuses is 100% which allows you to double your money the moment you start operating. In this way, you have many more ways to increase your gains – terms and conditions apply. Additionally, EmpireOption has other promotions throughout the year from which you can greatly benefit.

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  • BINOMO
    BINOMO

    Only For Experienced Traders.

Account Information

Opening an account with EmpireOption is very simple. You can do it in your own language and, according to your preference; you can open it in euros or dollars. The moment you register with EmpireOption you already have the support team at your disposal as well as a guide to help you learn how to operate with binary options.

Trading Requirements

EmpireOption is a very simple platform. You have different tools to operate:

The ¨60 seconds¨ tool allows you to profit in only one minute. Also you can operate 24 hours a day 7 days a week. EmpireOption is also available for download to your mobile devices. Therefore, you can trade anytime and anywhere.

This platform lets you operate with more than 200 assets, among these are:

  • Stocks: Apple (US), Nike (US), Google (US), France Telecom, Tata Motors (India)
  • Commodities: Gold, Crude Oil, Platinum and Silver
  • Currencies: Euro-US Dollar, Great Britain Pound – US Dollar, Australian Dollar – US Dollar, US Dollar – Canadian Dollar, US Dollar – Swiss Franc, US Dollar – Japanese Yen, Euro – Japanese Yen and many others
  • Indices: Dow Jones-30 Future, Nasdaq-100 Future, S&P-500 Future, IBEX-35, FTSE-100 Future, DAX-30 Future, ASX-200 Future, and many others

Customer service

One of the priorities of EmpireOption is to offer the best service for its clients. For this reason it has a support team prepared to guide you when operating, The support is available in various languages: English, Spanish, French, and Portuguese. You can ask for a phone call to speak with them. You can also communicate with them by e-mail, LiveChat, or through Facebook. With their help you can make better investment decisions. Furthermore, EmpireOption offers it user webinars, which are ideal for easily learning about binary options strategies.

Is Empire Option a Scam?

Empire Option is one of the relatively new brokerages in the industry and was established in 2020. Empire Option makes use of the popular SpotOption platform to facilitate reliable and safe binary options trade for their consumers. Empire Options seems to be restricting services to the traders depending upon the amount deposited into the traders’ accounts and this seems to be the main reason behind the controversies surrounding Empire Option. Other than these minor issues, Empire Option provides every benefit and top-notch security to their customers as any other leading binary options brokerage in the industry.

Final Word

EmpireOption is a truly simple platform that offers great benefits for its clients. The highlights of which are its native language support team and educational support through webinars, guides, and other resources that will allow you become the best investor possible.

When The Market Goes Awry, Get Back To Basics

Ever wonder what falling to Earth from space would be like?

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Binary Options Broker 2020!
    Best For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-Up Bonus Now:

  • BINOMO
    BINOMO

    Only For Experienced Traders.

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