February 27, 2013 by Spainspo
There’s always an argument regarding how aggressive a binary trader should be, and rightly so. Some people mean it’s the aggressive risk takers that get rich quickly and that you won’t win anything if you don’t play hard, whereas others are of the opinion that the real rewards comes to the patient traders that put their trust in slower income over longer time periods. Myself, I truly believe that, in the end, it comes down to your natural personality.
It is true; some bold risk takers make their trading careers skyrocket by making risky investments with huge potential payoffs, and these are the types of careers that make the myths and that people in the community talk about. What’s easy to forget, however, is the fact that for every successful trader of this caliber there are probably 15 careers that ends in disaster. If you are not fully sure of what you’re doing, you should stay out of trading extremely high risk options, or you are likely to be heading for bankruptcy. Keep in mind that no matter what you read, no matter how many traders became millionaires within a year, there’s always a huge risk involved when trading like this. I would go as far as saying that these types of traders are in many cases just gambling with their money.
Patient traders on the other hand, are much more likely to make profit in the binary trading game, although they do it with much less risk involved, meaning that the potential payout is not as substantial. The patient trader often takes his time analyzing his trades properly before making investments, and if the risk is too high he generally avoids it, and accepts a lower payout on an investment with lower risk involved. These kinds of traders often build their capital over a longer period of time, and the real payouts starts coming when their capital has become large enough to support large investments, but still on low risk options.
So which style fits you? Well, I would say that in order to be an aggressive trader, you can’t be a very emotional person. In order to stay analytic and aggressive, you need to have your emotions in control, otherwise you are very likely to be impulsive in your trades, and that is almost never a good thing. If you have the willingness to learn, and the discipline, a more analytic and patient approach to trading is probably suitable. The latter offers a much higher chance of success in the long run. You can read more about different strategies at Spains leading site for binary trading, opcionesbinarias.pm!