Category Archives for "Independent Trading"

How To Choose Binary Trading Platform

Binary trading is one of the most popular methods of online trading today, and it has been online not even a full decade. This method owes its popularity to a number of factors: it is simple to understand and learn, it is very straightforward and you know the potential earnings or losses before you execute the trade. What’s more, it can earn you a lot of money.

What is a binary trading platform?

A trading platform is the essential part of binary trading. Without it, binary trading would be impossible. When you sign up on the broker’s website and place the deposit, you can enter the trading platform and begin your trading sessions. It displays the assets available for trading, their prices and changes in prices, your potential earnings or losses and other information.

Trading platforms differ from one broker to another. Some of them pay for the platforms created by third-party websites, which is why some brokers have platforms that look exactly the same. Others have their own platforms, created especially for them. There are also platforms you can download onto your computer, or mobile apps you can use for trading on the go. In order to choose the best option for you, we will give you some useful tips.

What to look for in a binary trading platform?

Which platform you will choose depends on a variety of factors. You may be more or less skillful trader, you may have different preferences about the broker or the types of options and assets you want to trade. You may trade directly through a broker or through Free Money System. Still, there are several criteria you have to take into consideration when you choose the trading platform for you.

Reliability of the broker

Since platforms are connected with the brokers, it is important that you choose a reliable broker above all. Read the reviews and blogs about binary brokers, explore their websites and the conditions they offer for their traders. Click here for more relevant information.

Types of options and assets

Once you find several trustworthy brokers, you should determine which options and assets you want to trade. Most brokers offer several basic types of options, such as High/Low, 60-Second etc. However, some brokers have additional kinds of options as well, and they may differ from one broker to another. Also, not all brokers offer the same amount of trading assets in the same category. Therefore, look for the broker that offers a sufficient number of assets you want to trade.

Software-based or web-based platform

Some brokers only have platforms that can be used through a browser, while the others offer software you can install onto your PC and connect it to your account. Additionally, some brokers also offer mobile-based platforms you can download from their website. Depending on your preferences, you can choose between these options. Only make sure that the platform is fast-responsive and that the information about the assets is displayed in real time.

Design and user-friendliness

Last, but not least, you should also pay attention to the design of the platform. Some of them are reliable and rich in information, but they are too confusing and not user-friendly. They may even have unpleasant combination of colors which can make your eyes tired. Therefore, after you narrow down the choice of fast, reliable and detailed platforms, choose the one with the most pleasing design.

How to keep track of your binary trades

Binary trading is simple and easy to learn, which is why there are so many binary traders all over the world. However, not all of them are equally successful. While the concept itself is easy to master, if you want to earn money, you should invest a lot. It does not require only financial investment, but also spending your time, and energy to learn and get informed. One of the important components of trading success is keeping track of the results, and in this article we will give you some advice on the best methods for doing it.

Why it is important to keep track of your trades

Keeping track of the trades you make is important for several reasons. First of all, it helps you stay rational and have a clear insight into real results of your trade. It prevents you from self-deception and thus reduces the chance of being unrealistic about your success. Then, from the data you collect, you can observe the patterns and regularities in your trade. This can help you spot the strong points and sick with them, and identify the weak points and try to correct them.

Keeping track of your trades enables you to increase trading success. By observing the number of won and lost trades and the trading details, you can change and improve your trading strategy.

Keeping track of the trades is important even when you use a binary robot or some of the trading systems. You can find important information at Top 10 Binary Strategy . This will help you change the parameters of the robot according to the results achieved.

What you should include in the record

Keeping track of your trades is not too demanding, yet it is very useful. You can develop your own system and determine what is most important for you to note. Still, there are some elements that need to be included regardless of your preferences.

First, keep track of the number of trades you execute daily, and you can sum them up at the end of the week or month. Include the information of the asset you traded, the duration of the trading session and the outcome. Also, if you trade different types of options, specify which one you used for which trade. Write the prediction you made and whether it was correct or not.

Additionally, you can record what made you make a certain decision at a given moment, and why you think it was good or bad. You can add notes about your emotions and environment at the time of each trade, but it is a matter of your personal preferences.

Methods of keeping track

As you can find your own style when it comes to the information you write down, you can also choose how you want to run your trading journal. You can use a notebook where you will write down all the information needed for you to keep track of the trading results. Alternatively, if you are tech-savvy and like computers, you can create an Excel table and fill it with information about your trades on daily basis.