In order to become really successful in trading, you will need more than just luck. One thing that I have noticed about trading binary options is that the less that you now, the more you are gambling. Think about it, if you don’t know anything at all about the stock you are investing in, you leave it all to chance whether you will win or not. Since there are only two options in a Binary Option trade, you’re chances are roughly 50/50 of winning. This means that it’s really not that different from playing on red or black on the roulette table. On the other hand, the more you know of a certain asset, the more accurate your predictions will be, and the higher the chance of you making profit off your trades will be!
I’m sure you already knew this – that you have to be knowledgeable in order to make it in the trading world, but is that the only thing that really matters? Well, it will take you along way, but there is one thing that is almost as important, that you should not overlook: The importance of choosing a broker that you can benefit from. Many things are often overlooked when people are choosing their brokers and here are the two things that I think are the most important apart from obvious ones like licensing and security:
Assets: You will need a broker that can offer you a wide range of different assets that you can invest in. This is commonly overlooked by beginners, as it’s not of much importance when you are first starting out. However, you will soon realize that there is a lot to gain from trading at a broker with a large range of assets. If you get tipped of on a certain asset and want to invest in it, it can be really annoying to find out that particular asset is not represented on your broker. Therefore, go for a broker that offers trades on many assets. A good option would be 24 Option which has over 100 assets available on their trading platform!
Educational Centers: One thing that is important to remember is that you never get fully taught when it comes to binary trading. Because of this, I would strongly suggest that you play at a broker that has some form of educational center. As you have made some progress and start getting a bit of success,it’s easy to start thinking that you know everything you need to know, and stop reading guides and such, and just keep trading. This is often a very bad idea, and also the reason why so many traders fail after their initial success. I would recommend sites such as Optionfair,which has an extensive section of informative guides and strategies.