Can a Binary Trader Profit More in 1 to 3 Hours Vs Trading All Day?
I get this question a lot.
I say YES!
Why is that? Can’t you profit more by trading more? Well sure, if you have the endurance. Plus a robot or other trained humans could help you trade every hour the market is open with a system conducive to all those different price behavior periods within a day.
But for most folks, if they can concentrate for a shorter period of time with a solid binary options system and trade that system WELL then we can potentially do even better. How?
If you are focused and trade the system well, not missing entries then they can become CONSISTENT. If you are consistent then we you can be systematic. If you can be systematic then you can potentially NET out a profit, consistently, on an average. And if you can trade a profitable daily average then getting into big profits is simply a matter of money management. Huh?
If you use a percent based position size your trading size will grow proportionately with your account size (or shrink if it shrinks to adjust appropriately). With a percent based position size you now are properly compounding with options, binary options.
How to Work Your Way Up to the Bigger Numbers I Know You’re Itching to Trade
But before you get up to a full percent based position size you need to trade, in my opinion, consistently for three weeks, with as small as an amount allowed. Then move up your position size to a small percent of your account.
A standard binary options position size is anywhere between 1% to 5% of your trading account size. But that exact position size will depend on the winning percentage of your system and YOUR winning percentage with that system (your ability to trade the system well). So “get good” at trading your binary system or binary options strategy and methodically work yourself up the position size ladder.
And the overall point is that: consistency can bring the most profits. Quality, not quantity wins, even in binary options trading. (And I think Warren Buffet would vouch for that concept). Once you can consistently profit then the rest is a game of money management. And THAT’s how professional traders roll…
Systems such as these can potentially get you trading 1 to 4 hours a day and out: