Work Plan In Trading With Binary Options

Work Plan In Trading

Success is an elusive situation, which is usually preceded by a planning work that is seldom recognized, except by the one who implements it, of course.

In any type of Trading, a Work Plan is necessary, Trading with Binary Options is no exception.

Through the network there is a series of videos circulating, which at least make me laugh and at worst irritate me, because they treat traders almost memos. I mean those videos in which they expose a winning strategy with binary options: open 8 (I think they are eight) positions at a time, in which the trend in 5 minutes is well defined.

I do not say that it has no logic, that if it has, but if it were so simple we would all be sitting on bank notes, when the reality is not that.

In my previous article I talked about the need to specialize in Binary Options, to look for an asset that we are comfortable with, be it currencies, indexes, stocks or raw materials.

Starting a Trading Day

If we have chosen the currencies (let us say so), our plan of work would go through reviewing all the movement that have had the currencies that we usually control, during all the time that we have not watched them.

We can not see a 5-minute chart and act directly. In Trading with Binary Options, it is especially necessary to know where the quote comes from, to predict where you can go in the next few minutes.

We should review the news that can move the market during the session: economic announcements, statements, etc. It would be disastrous for our account and our nerves, to act in a trade with Binary Options in which expect strong movements. Eye!! You can also operate the news with Binary Options, but without the situation catch you unexpectedly.

Once we have controlled the news and graphics, we will decide which assets are moving as we expect them to do, or we will choose those that best fit the way we operate.

Checking that everything works

Within our work plan in Trading With Binary Options, or with any other vehicle of speculation, would be doing a "check".

Pilots when they get on an airplane, check that everything is correct.

In our case the check should be:

• Platform functioning properly.
• Trading plan prepared for the day.
• Telephone by hand of our broker, if necessary.

And no less important, as we are physically and mentally prepared for the day.

The last part is the most important. The weakest part of the Trading is the trader, if we are not 100%, that day we should "go from trading" with Binary Options or any product that requires concentration.

What did you think of the Work Plan? You can add any ideas you like.

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