8 thoughts on “Managing Your Binary Options Account

  1. stefan

    When starting trading, I would actually be even more conservative and risk only 2 percent per trade, especially with a small account. Lose less, learn more. And to Sunpreet : what Tim replied on your post regarding your choice of expiry time, he’s right in my humble opinion. Maybe you don’t get the same adrenaline rush, but you’ll find yourself more at ease with better results. And a trader feeling better, is a better trader. Trading with ‘longer’ expiry times will also allow you to apply the ‘fence strategy’ Michael talks about in one of his strategies. Very interesting material! Happy trading!

    Reply
  2. Tim Lanoue

    Hey Sunpreet,

    When it comes to trading online with binary options it is statistically proven that options that have a longer expiry tend to end in-the-money more often than expiry times that have a a shorter time frame. If I were you I would stick with trading strategies that have a longer expiry time, but first off I would start off with a demo account or paper trading. Once you have found a reliable trading strategy to use and have had plenty of practice, make sure you properly manage your account finances and stick to the Passive Managed Account style. I feel once you have done this you will be heading in the right directions and of course, stay hungry, stay hungry to constantly learn more about binary options because there is so much to learn! Stick around for more helpful articles to come! 😀

    Tim

    Reply
  3. Sunpreet Singh

    Hi, I am totally new to this industry in canada I have been through it when I was in india. But things are going so complicated… I have seen 60 sec trade option, 15 minutes trade options but you are talking about long term things. Could you please help me with what direction I should go its so complex. Thanks

    Reply
  4. James Kushi

    My initial deposit to my broker was 250, and min requirement is 25 per trade if it’s not 60 seconds, and in some cases I opened 4 trades at a time. Mike, good to know I was doing aggressive, maybe I have to increase my deposit to at least 500 to take passive way of trading. Thanks.

    Reply
  5. Mike

    Excellent article, about an extremely important subject! Always continuing to provide great info! Much appreciated Michael!

    Reply
  6. Bogdan Danci

    yes very good and important info your sharing mike! People should know and really under/innerstand this info it’s so important I think 95 % does not understand this concept completely sins most are loosing! But like you said people think it’s a walk in the park. The real difference between a experienced trader and beginner is time and your level of awareness of strategies + decipline or programming skills to create profitable robots haha 😉 keep up the good work mike!

    Reply
  7. Graham

    Excellent write up here, I have lost so much money trading binary options because of no strategy. I have panicked when losing trades,and when I have tried to get my account balance up again I have lost and lost trying to chase losses. I now stick to a certain amount of trades per day..usually 2 or 3 then turn my laptop off.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *