We recently published an article about the similarities between an athlete and a binary options trader. In the article, we explained how options binaires trading could be similar to numerous activities and jobs, another example that also makes sense is an elite shooter. In this article, we will discuss the common points between elite shooting and binary options trading.
– Be prepared
An elite shooter is a highly trained military operative, who spent hours training, hitting targets to reach perfection and also on the terrain, where they get advice from trainers and follow trainings. A binary options trader is also supposed to have followed lectures about binary options and an intense training in binary options before starting trading on financial markets for real. The trader’s target is the market, they learn how to understand and behave in the good way thanks to the free trainings offered by binary options brokers. When a beginner starts binary options, it is on binary options demo accounts that they create their weapons.
You can’t afford to make trading mistakes that will lead you to bankruptcy when you are a forex trader, the same way an eliteshooter can’t shoot the wrong target. The only way to prevent this happening is to complete a training course and start your activity in a smart way.
– Be patient
Being a binary options trader doesn’t mean that you have to buy and sell on all the available financial markets, like an eliteshooter who shouldn’t act like Rambo and shoot every single person. Binary options traders like elite shooters, have to make rational and calculated decisions, not hastily making moves but acting smartly and efficiently. A binary options trader can make only 2/3 trades per day. In the same way, an elite shooter can keep an eye on 2/3 targets and shoot only when necessary to complete his mission. The quantity of targets hit isn’t the goal, but the quality of the trade or the shot is the most important thing in the activity of elite shooting or trading.
– Having a high success rate
By nature in binary options trading, the risk reward/ ratio isn’t really an advantage for the trader because they bet more than the potential profit on their trading platform. The return on investment on binary options is generally ranging between 70% and 85% of the initial amount. It means that betting 50€ on a binary options with 80% return on investment, you will earn 40€ profit (plus the initial 50e), but if you lose your trade, you will lose 100% of your money (50€ here). Consequently, a binary options trader needs a strategy with a high success score (for example 70% success rate or more) to allow them to overcome his losing trades. An elite shooter also needs to have a high success rate to complete the mission he has been given.
If you intend to earn money with binary options, you have to choose an effective and serious trading platform. 24Option is a good example of a binary options broker to trust. The company this trader belongs to is regulated by the cyprus financial authority (CySEC), the authority for matters of financial regulation in Europe. By joining a regulated binary options broker such as 24Option, you will not only benefit from quality products and services, but with exceptionnal advantages too.
Opening a 24Option account via a link on BonusBinaryOptions.net will grant you a negociated bonus on your first deposit (that you normally don’t have). The bonus is of 100% instead of 20% usually. Moreover, becoming a trader at 24Option with our links will allow you to enjoy the BonusBinaryOptions.net guarantee, which is a guarantee of receiving our help whenever you need when trading on the financial markets.