In most of the books on transactional psychology, you may find the following idea: “Planning will solve most of the problems.” This eliminates the enemy as fear and emotion – these are the main reasons for up to 50% of losses.
What you need to plan when playing Binomo:
- Short-term and long-term trading targets: “I want to raise over 5% of my monthly capital and I would not expect a large amount of money,” or “As long as I raise the amount twice, deal”
- Choose an appropriate strategy and strategic compliance in all aspects. Write out a trading plan and put it in front of you
- Create the money management rules set aside for you (maximum transaction amount, profit and loss the biggest of the day)
- Keep track of the most important news. Stop the transaction half an hour before an important news is announced
- Failure Analysis. To do this, start writing the trader’s diary (you can find the example form in this article).
Now are you ready? Then take your chance!
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Wish you are a successful investor!