Are you about to get started in Binary Options trading? If you want to have a good start in your trading career, then it’s important that you separate the lies from the truth. Information is power, having the truth will help you make wise business decisions.
Types of Binary Scam Signals
1. Binary Options Trading Is A Piece Of Cake
Oh really? Tell that to the beginning traders whose accounts didn’t see daylight! And to be precise, 90 percent of these new operators lost their accounts.
Just like in any profession, you need to invest time, money, a lot of practice, and a little bit of ‘trial and error’ in binary options trading until you see that fixed income.
2. The Binary Market Is On 24 Day and Night
While we would have to agree with the first part, professionals would have to disagree strongly with what follows. Unless you are a machine, there’s no way you can sit in front of your PC 24 hours a day. That is why it’s paramount that you are aware of the times when your chosen market or binary trading session trade is most active.
3. Copying Signals produces significant profit
Copying is the highest form of flattery, but it’s not the best way to profit in Binary. Many of traders got burned by following signals blindly. By doing so, you are leaving the complete responsibility into someone else’s hands. Many have argued that, if you are following signs from someone who is profitable, then you will profit, too. That’s not the case, however, and you will soon find your account battered with huge losses.
4. Predicting Exact Market Outcomes equals Profitability
As much as we want to have everything under control when trading in the binary options market, we can’t. There’s no 100 percent / scientific technique for predicting the market outcome.
5. Complex Trading Strategies translate to Success
It is another popular myth that many online sellers of different binary software want you to believe. This myth has been debunked by many successful traders who use simple and old strategies. What took them there, however, is a healthy dose of self-discipline and money management.
6. Large Starting Capital is needed to Be Profitable
Having a vast and profound binary marketing pocket is a step in the right direction. However, it won’t help you, if you don’t have the self-discipline, correct strategy, and money management techniques necessary.
Unless you want to move currency rates with your trading orders, you don’t need billions of dollars to get started.
7.Binary Options Trading is Gambling
True, you cannot be 100 percent sure in trading or any other financial market for that matter, but that doesn’t mean it’s totally random.