FXOE-Signal binary options indicator
This binary options system designed for trading on the binary options market. There are two indicators. Which are an arrow signal and regression channel.
As you know, the discipline of a trader consists of keeping a special diary, observing money management and trading exclusively on the signals of the trading system. At the same time, there is one but extremely detrimental discipline gap known as “overtrading.” It generates a huge number of rash actions and subsequent mistakes, because of which the trader risks being in total loss.
Lack of rules regarding the trading system is a very common mistake many traders make. Often they rely on their own intuition, which is not entirely correct, because many years of experience must necessarily be behind it. If a trader is a beginner, then he is strongly recommended to draw up certain rules for entering the trading system. When receiving a new signal for binary options, it is advisable for the trader to act in accordance with the set of rules.
This also applies to traders who go through various strategies and are unable to stop at one of them. The best way out of this situation is to test the trading system for at least a month, which will allow you to find the necessary filters for it.
Open the trade direction of the arrow (when the opening of a new candle after the signal) and arrow should be from the channel borders, the other signals should be ignored.
Time frame : M5
Expiary : 5 minutes
Follow these instructions Before you enter the Binary trading
- Excessive emotionality
- Desire to recoup and get your money back
- In conclusion about the discipline of the trader
This human trait is a kind of fuel for excessive trade. Impatient traders always open a lot of unnecessary bets, ignoring the trading system, thereby dooming themselves to failure. In order to learn to patiently wait for the most favorable moments in binary options trading, it is recommended to write down the expected entry quotes, expiration times, assets and track the results on paper.
In a situation where there are simply no signals on the market, traders begin to get bored and trade in a standard mode. In order not to waste time in vain, it is best to study new trading strategies or revise old ones, as well as familiarize yourself with a variety of unknown nuances of binary options trading.
Many traders turn to binary options trading rather for the excess of positive emotions that arise during the next forecast that comes true. In fact, they see this activity as an analogue of a classic casino: bet, won, received a lethal dose of endorphin. However, serious euphoria sometimes makes traders take rash actions that lead to a complete collapse. To get out of a kind of financial hole, the gambler is ready to do anything to replenish his balance and the next bet.
Naturally, real success in this matter is possible only if you turn off any emotionally unstable states. If a trader wants to receive exactly money for trading binary options, and not the buzz from fleeting successes, he will have to analyze everything that happens from the point of view of logic, as well as make the most detailed entries in his diary.
Trading binary options, like any other intellectual work, drains traders over time. Therefore, it is not surprising that each of them sooner or later experiences physical and mental fatigue. The obvious solution to this situation is a well-deserved rest from thoughtful sitting at the computer, as well as consuming foods that contain sufficient amounts of phosphorus and glucose.
The desire to make as much money as possible in modern society always commands respect and praise. However, in trading, such a desire for profit goes side by side with a high risk of losing existing funds. If the main goal of a trader is precisely to earn a certain amount of money, then most likely it will not be achieved. Even keeping a diary, risk management and similar tricks will not help here – traders begin to engage in self-deception and see non-existent “entries”. The same traders who are able to control themselves and do not adjust the search for signals to a certain amount are more often in the black than their less restrained colleagues in the shop.
6.Desire to recoup and get your money back
This is perhaps the most dangerous phenomenon that destroys the discipline of a trader. As a rule, after a loss, a person really wants to get out of the minus and get some kind of compensation. Unfortunately, wagering in trading is a road to nowhere, and even the Martingale method will not help in this case. In addition, binary options brokers have good protection against this rate management system.
A trader who wants to recapture his own as soon as possible runs the risk of catching the courage and losing all the remaining funds. To prevent this from happening, the trader needs to pull himself together and direct negative emotions in some other direction, for example, into exhausting physical exercises.
7.In conclusion about the discipline of the trader
It is likely that many traders will find it useful to learn a thing or two about risk management. With the correct use of money management, a significant percentage of the deposit is safe, therefore, the trader may not be afraid of drawdowns. For more confident trading, it is recommended to take only 1% of the deposit and, of course, do not forget about money management.