Why Over 90% of Traders Lose Money on IQ Option
Only 10% of active accounts on IQ Option are gaining profits, and said that the other 90% are losing. Among the many reasons of this is inconsistency. Traders tend to try too many trading strategies in several different markets at the same time. They also barely follow through their trading plans.
Actually, they do win sometimes, but their winning trades is insufficient to cover losses. When they win the first few trades, they’ll decide to invest more on the next one. If they lose, frustration comes in, and they will go in search for another trading strategy. What they could have done is find out why the strategy didn’t work and study the market conditions where it works best (trending or ranging).
Now, these 10% of traders that became successful on IQ Option did the opposite. They had been consistent in choosing their strategy that was proven to make money. There is no strategy that guarantees success, but it is how and where it is applied that matters. Thus, traders who gains profit only have few strategies and knows how to use them. They understand that a strategy that works in one market won’t always do the same on the other.
Ways on How to Become a Successful IQ Option Trader Practicing your new click here strategy in a demo account is the perfect way to get used to it. Keep those that works best for you, and pick the markets where to trade them. Trading only in few markets would give you the opportunity to study them well. You’ll gain advantage by knowing how a market moves just by analyzing its charts.
Money management would be another useful strategy to have. This includes determining how to protect and how much capital to trade. Trading with small amounts each time would help you save money for the next trade if the first one is not successful. Using stop losses can help you protect your capital as well. Also selecting the chart type, trading indicators, and timing of your tradesn would make technical analysis easier and is beneficial.
There is no perfect strategy. And to gain success, you just need to be consistent in choosing the procedure that fits you and apply it in the right market.
Understanding the Market Having knowledge in the market you are trading in is important. Just by looking at the price charts, you will know if the market is in ranging, down or uptrend. And with these ideas, you can then choose either enter a trade, or wait until the market is more advantageous.
How trading with just one market can help first time traders?
It is recommended to trade with one financial asset and currency pair to be profitable when starting. Your main goal is to gain profit and trading with various instruments won’t do you good.
Focus on one asset to identify easily a gainful strategy and have a better understanding of the timing when a market is best for trading. Therefore, you’ll gain confidence each time you execute your trades.