The 4 secrets of success at IQ Option
Let me share my four secrets of successful trading with you.
Practice with the Demo account like a real account
IQ Option demo account has obvious advantages compared with the real account: you will not lose money. This creates a whole new way to practice trading strategies without too much risk. Whenever you discover a new strategy, it is best to try it on a convenient account. If feasible, you can transfer the process to a real business account. In my case, I always test the strategy on the practice account first, and then on the real account. If I can, I will try a few more times. I will only use strategies that apply to my practice account. Training account. You will train for months, minutes, or hours, and compete on the court. Training determines your success on the court. Even if they win or lose, the athletes will continue to return to the training ground. The only way to improve the level of trading is through practice. What is better than a free IQ Option account?
Avoid 60-second transactions
Always accompanied by a huge impact of fast income. It’s always great to earn 78% of the investment amount in 1 minute. But the problem is that these 60 seconds will make you spend in fear and anxiety. These two emotions are inappropriate for rational traders. When you use IQ Option to make a series of 60-second winning trades, you may feel overwhelmed. You are very enthusiastic and think you have found the easiest way to make money. Therefore, your transaction amount will increase. Loss trades will eventually wipe out any profits from previous trades. You should know that the price fluctuates continuously within 60 seconds. Small changes in prices may make the transaction unfavorable for you. Even longer. You have price fluctuations, but the fluctuations should not be so great that you might lose all your money. Before entering the transaction, a longer time frame is also easier to analyze and determine the market direction.
Check your transaction history regularly
The creed of every professional trader is to minimize losses and increase profitable trades. Early traders kept a handwritten trading diary and checked it every day to find out how much profit they made or how much they lost on a particular date. IQ Option provides you with a free tool that can automatically record each of them. The action you entered. It is a trading history tool that can be found on the left side of your trading interface. A simple check shows which of your trades have been won and which have been lost. Always check your trading history to see if it is profitable. How do you use the information in the transaction history? The obvious way to use this information is to determine if you made a profit on a specific date. However, you can learn more details. For example, which financial instruments produced the most profitable transactions? In addition, what strategy is effective at what specific time? For example, at 10 AM, you can trade candlesticks for the EUR/USD currency pair. For example, before 11 a.m. brings more profitable trades than after 3 p.m. With this information, you can decide to start trading EUR/USD at 10 am. Before 11 am, avoid daytime meetings altogether.
Structure a money-making plan and stick to it
When I lose a lot of trades, I have no intention of making money. I just selected a market at random and started trading. If the market operates, it will continue to operate. I won’t choose another random market, but it obviously didn’t work for me. In the end, I lost more than 80% of my account balance, so I decided to see what successful traders were doing, and then I created my own trading plan, Make money. ……Make a money-making plan for trading IQ options What does the money-making plan include? The first thing I did was to decide how long I would use my practice account before adding any funds to my real account. I trained for 3 weeks in a row. At the time, I wanted to know which markets were best for me and when was the best time to trade them. I also decided how much to invest in surgery. Every operation is analyzed. Fortunately, transaction history helps. Write a transaction log, detailing each transaction; H. At what time I traded, what indicators and strategies were used, and the tools and duration of the trade. After 3 weeks, I decided to top up my real currency account and start trading. My income plan includes some of them like;
How much should I deposit into my account? How much would you invest in a transaction? How long does each operation take? Which market to use and when should I stop trading (usually, when I lose 3 consecutive losses in a given market, I will stop trading) When do I withdraw my bonus and the account balance I withdraw Percentage? This is just a simple example of a compensation plan.
I recommend that you create a trading method that best suits your trading style, and most importantly, make sure you stick to your money-making plan. How long have you been trading with IQ Option and what are the results? IQ Option account, open a trial account today, and try my 4 secrets. Thank you for reading till the end. Share your results in the comments section below. Happy Trading!