How to Make Money in Binary Options As A Beginner.

I know what its like starting as a trader, you want to start trading with hopes up to make money as seen in the YouTube videos. You want to bag in those ITM's so you can have a great life style and leave a life of financial freedom right? Then you start to sail your boat in the financial ocean soon to see that its a journey of storms and waves of OTMs that keep bashing in to slow your account and dreams start to sink. Does this Ring A bell? Well Let this happen because most traders don't start with a plan, strategy or knowledge to help them trade and most of all traders don't start with the right mentality in trading. That's why we are here to help you maneuver through the tides and flow the markets presents and get your on a better journey than that which you started with. Please follow these steps if you are new and if you are a regular trader you can use these guides to check yourself and make the necessary changes to put you on track.

1. Open a regulated brokerage account: One Of the first things to do when you start trading is to open a trading account with a broker because a broker are your only way into the financial market. Unfortunately not all brokers are legit, as we see there are many reports of scam brokers not given traders their money or manipulating market prices to make your trades in their favor putting you in a loss. But no worries, there are ways to stay protected. There are Financial Regulatory bodies that help to control the financial world against issues like these. Ever heard of CYSEC? They are one of the major regulatory bodies, who regulate one of the legit trading brokers called IQ Option or MGA which regulates also another legit trading broker called Binary.com also MRCC who regulates a broker called Expert Option

So I strongly recommend you open accounts under these regulated brokers. IQ Option, Expert Option and Binary.com. Please start with Demo Accounts (Virtual money Accounts provided by the regulated brokers) you'll need it in the 5th step.

2. Join a professional trading signal group or community:

A wise man once said, "He who sits on the shoulders of a giant would see further". Wanna see further? join professionals and take their signals. Set aside a budget generally around $50 to pay the trading groups and Leverage on their experience and signals till you become a professional. Its way better for you than going in alone. Because you 'll profit from their profitable trades and also see that even the professionals can't win all trades. That's why we advise you follow our Money Update facebook page where we link new traders to professional trading groups. Send a message to us via our page or mail us themoneyupdate.net@gmail.com and we'll connect you to great trading groups. If you are a trader looking for professional trading group we have a bonus for you. Rather than pay $50 you can open a trading account using this link and deposit $10, then message us on our page or mail us and we'll get you 1 month free (with free access to our $100 Trading contest) in one of our best trading groups. Options Bin is one of the best trading groups out there, we highly recommend them for you. Please click the image below and request to join for FREE.

3. Change Your Trading Mentality (The Truth: Its a Game Of Probabilities): One of the biggest mistakes traders make when starting out trading is expecting to make all winning trades. Although I perfectly understand why new traders do, probable due to all the YouTube videos that say "Binary Option 99% Winning Strategy" but truly this is not so. The truth about trading is that its a game of thron... lol, its a game of PROBABILITIES! So when you want to trade any day understand that losses are inevitable and what matters most is having more wins that losses and grow your account.

4. Study Study Study (4 pillars of successful trading) If you are new into trading or planning to get a better experience in trading they're some important factors to study, because taking signals alone without these can still lead you in a loss.We call these the 4 Pillars Of Successful Trading. We wont go into them in full details but we encourage you go the extra mile to study them. They are:

Risk/Money Management This has to do with managing your account balance professionally. Understanding that losses are inevitable, would would it be wise to put all your money on one trade? Certainly not!In trading its best to risk only 3-5% of your capital on a single trade and take about 5 - 10 trades daily with a maximum loss of 3 trades, after which you should stop trading. DO NOT OVER TRADE!

Trading Psychology Trading psychology refers to the aspects of an individual’s mental makeup that help determine whether he or she will be successful in buying and selling securities for a profit. Discipline and risk-taking are two of the most critical aspects of trading psychology, since a trader’s implementation of these aspects is critical to the success of his or her trading plan.This about one of the most important of all the factors so we highly suggest that you study the book "Trading In The Zone" by Mark Douglas.

Fundamental Analysis In a simpler way, its about studying anything that can affect the security's value, macroeconomic factors such as the overall economy and industry conditions, and macroeconomic factors such as financial conditions and management. Visiting news pages like investing.com and checking the economic news before trading is a great way to undergo fundamental analysis. To learn more you can watch this video by investools on fundamental analysis

Technical Analysis Technical analysis is a trading tool employed to evaluate securities and attempt to forecast their future movement by analyzing statistics gathered from trading activity, such as price movement and volume. This is most known to traders as "Trading Strategy". Unlike fundamental analysts who attempt to evaluate a security's intrinsic value, technical analysts focus on charts of price movement and various analytical tools to evaluate a security's strength or weakness and forecast future price changes.To learn more you can research on technical analysis.

5. Demo account Practice!! Once youve understood the 4 Pillars of Trading, Pick your best Trading Strategies with the combination of the other 3 Pillars of trading and DEMO TRADE!! With the Demo Account you opened. Test your strategies till you understand it and its one with you. Try them for about a month to 3 month with over 100 Trades till you are confident then you can start with as little as $10 and work your way up.

6. Be a Disciplined Trader. Last but not the least is about being a disciplined trader which really means following the rules that guide your trading as well as all you have learnt from this post! Don't be greedy, don't over trade, check the news before trading (Fundamenal Analysis), trade only the strategies you understand and study, study, study because trading is not a destination but a journey!