Importance of Trading Plan
Srdan Sore
Whenever in life you set your sights on something, when you want to achieve certain things, the best thing to do is to make a plan. The plan gives you clarity, vision and security that you are going the right way. Trading binary options is not an exception. In a field where each day brings... Read more
Whenever in life you set your sights on something, when you want to achieve certain things, the best thing to do is to make a plan. The plan gives you clarity, vision and security that you are going the right way. Trading binary options is not an exception. In a field where each day brings a lot of changes, where satisfaction and motivation can vary a lot on a daily basis, having a plan takes you a long way. Weekly plans make the most sense as it is a long enough period not to occupy you too much on a daily basis and short enough to keep everything, or at least almost everything, in sight. Preparing a list of certain or potential economic events happening next week is a great first step. After all, it is something that can save you from big losses or bring you a big payment if you get it right. These events are often separated into different categories. First what you need to look out for are the global capital markets. They are the biggest indicator of how healthy an economy is and the stocks and bonds market are the most notable markets generally. Then there is international trade. It shows us which goods and services are traded and consequently which are in high demand. If a country has goods and services that are in high demand then you know that it will mean the rise of its currency. Great indicators which are always available are, of course, economic reports. The only problem with them is that they report on events that have already happened.  Last, but not least would be the political conditions. The current government, upcoming elections, monetary and fiscal policies, political decisions and many other can all be a major factor that affects the market. You can start trading with Binary Options Robot here! These days when everything is covered by the media and the information is very easy to get. You can follow sites like Bloomberg or Reuters for the latest update. Write it all down. It will help you remember and follow all the changes. Keeping a trading diary is a very good idea if you want  always be aware of what is happening in the trading roller coaster. How Much do you Want to Invest? In the situation where your resources are vulnerable, where daily amplitudes can be high and when there is basically no limit to trading, setting a weekly budget can help you a lot. You will probably want to take it slowly, try out different things and keep your money because there is always next week. So, setting a budget and practicing your discipline in sticking to it is a very important step to successful and satisfying  trading. Which Asset to trade With? When you set your weekly budget, the next step is to distribute it by assets and by expiry times. It is of course highly advisable not to invest all in one asset. Distribution leads to risk decrease and decreasing risk is something that every trader aspires to. So, spread your investment as it will do you the world of good. When it comes to expiry times it is a bit difficult to suggest the best solution. Binary options trading, especially currency market, is highly associated with fast, short-term trading such as 60 seconds trading etc.  Trading fast and on short-term is profitable and a big part of your trading can be done in that way. However, it is always good to keep a part of your budget reserved for long term trading. First of all, it is definitely safer in the long run. Second of all, since the returns in the binary options trading are pretty high (around 80%) then it is acceptable, to say at least, to be patient with your trade close time. You can start trading with Binary Options Robot here! Diversify Your Trading Binary options brokers offer different assets that you can trade with. You can choose from currencies,stocks to commodities and indices. There is usually the biggest part reserved for currencies. They are a very attractive and recognizable asset to trade with. As I mentioned, short term trading is associated with binary options trading and currencies fit in there well. However, it is tough to trade with currencies, though as they are the most volatile asset and there are many factors of political and geopolitical background, mergers and acquisitions, interest rate decisions to the basic supply and demand that influence their changes. Commodities, on the other hand, are not so volatile. The most common ones are gold, oil and silver. Trading stocks is always attractive and exciting since it allows you to trade with brands you are connected with in everyday life. Two of the biggest events that affect the stock market the most, are the company reports and major news about the company. Stocks can only be traded on their home market and markets are not always open. This makes a problem for traders from Asia when trading US stocks and vice versa because it means they need to get up in the middle of the night to trade. You can start trading with Binary Options Robot here! Same as currencies, indices are a volatile asset because one index is a group of different assets. They can be traded 0-24. So, make a plan and train yourself to stick to it.But, don't stop at that. Take some time to revise it each week and adjust it if necessary. Keeping a good record and analyzing what happened will help you understand the market more, avoid the obvious mistakes. Remember, trading is a business so act like that.  It will make you calmer, more assured and will allow you to enjoy your trading. If you are complete beginner, we recommend you to trade with some of auto trading robots that will make you feel safer. Binary Options Robot is one of reliable robots that has showed best success rates.

Importance of Trading Plan

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Whenever in life you set your sights on something, when you want to achieve certain things, the best thing to do is to make a plan. The plan gives you clarity, vision and security that you are going the right way.

Trading binary options is not an exception. In a field where each day brings a lot of changes, where satisfaction and motivation can vary a lot on a daily basis, having a plan takes you a long way.

rising-money-graph-300x300Weekly plans make the most sense as it is a long enough period not to occupy you too much on a daily basis and short enough to keep everything, or at least almost everything, in sight.

Preparing a list of certain or potential economic events happening next week is a great first step. After all, it is something that can save you from big losses or bring you a big payment if you get it right.

These events are often separated into different categories. First what you need to look out for are the global capital markets.

They are the biggest indicator of how healthy an economy is and the stocks and bonds market are the most notable markets generally. Then there is international trade. It shows us which goods and services are traded and consequently which are in high demand. If a country has goods and services that are in high demand then you know that it will mean the rise of its currency. Great indicators which are always available are, of course, economic reports. The only problem with them is that they report on events that have already happened.  Last, but not least would be the political conditions. The current government, upcoming elections, monetary and fiscal policies, political decisions and many other can all be a major factor that affects the market.

You can start trading with Binary Options Robot here!

These days when everything is covered by the media and the information is very easy to get. You can follow sites like Bloomberg or Reuters for the latest update.

Write it all down. It will help you remember and follow all the changes. Keeping a trading diary is a very good idea if you want  always be aware of what is happening in the trading roller coaster.

Learning about binary optionsHow Much do you Want to Invest?


In the situation where your resources are vulnerable, where daily amplitudes can be high and when there is basically no limit to trading, setting a weekly budget can help you a lot. You will probably want to take it slowly, try out different things and keep your money because there is always next week. So, setting a budget and practicing your discipline in sticking to it is a
very important step to successful and satisfying  trading.

Which Asset to trade With?

When you set your weekly budget, the next step is to distribute it by assets and by expiry times.

It is of course highly advisable not to invest all in one asset. Distribution leads to risk decrease and decreasing risk is something that every trader aspires to. So, spread your investment as it will do you the world of good.

When it comes to expiry times it is a bit difficult to suggest the best solution. Binary options trading, especially currency market, is highly associated with fast, short-term trading such as 60 seconds trading etc.  Trading fast and on short-term is profitable and a big part of your trading can be done in that way.

However, it is always good to keep a part of your budget reserved for long term trading. First of all, it is definitely safer in the long run. Second of all, since the returns in the binary options trading are pretty high (around 80%) then it is acceptable, to say at least, to be patient with your trade close time.

You can start trading with Binary Options Robot here!

Diversify Your Trading

oil pumpBinary options brokers offer different assets that you can trade with. You can choose from currencies,stocks to commodities and indices.

There is usually the biggest part reserved for currencies. They are a very attractive and recognizable asset to trade with. As I mentioned, short term trading is associated with binary options trading and currencies fit in there well. However, it is tough to trade with currencies, though as they are the most volatile asset and there are many factors of political and geopolitical background, mergers and acquisitions, interest rate decisions to the basic supply and demand that influence their changes.

Commodities, on the other hand, are not so volatile. The most common ones are gold, oil and silver.

Trading stocks is always attractive and exciting since it allows you to trade with brands you are connected with in everyday life. Two of the biggest events that affect the stock market the most, are the company reports and major news about the company. Stocks can only be traded on their home market and markets are not always open. This makes a problem for traders from Asia when trading US stocks and vice versa because it means they need to get up in the middle of the night to trade.

You can start trading with Binary Options Robot here!

Same as currencies, indices are a volatile asset because one index is a group of different assets. They can be traded 0-24.

So, make a plan and train yourself to stick to it.But, don’t stop at that. Take some time to revise it each week and adjust it if necessary. Keeping a good record and analyzing what happened will help you understand the market more, avoid the obvious mistakes. Remember, trading is a business so act like that.  It will make you calmer, more assured and will allow you to enjoy your trading.

If you are complete beginner, we recommend you to trade with some of auto trading robots that will make you feel safer. Binary Options Robot is one of reliable robots that has showed best success rates.

Binary-OptionS-Robot-big-logo