Binary Options as a Business

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Binary Options trading should be considered a business. Treat it as such. Here is a suggestion: Work with one market and become a specialist in that market. Once
you have achieved that, then move to another product until you have maybe
10 or more markets that you are comfortable trading.

What you really want to accomplish is gathering information for a daily
worksheet and taking the time to fill it out. This practice forces you to make
a quick study of the market and get into the habit of a daily routine. Consider
it like a daily investment diary. All you have to do is fill in the blanks. You can
make up your own field requirements. A daily worksheet will not guarantee that you will have profitable trades, but it will get you to do your homework and get you into a disciplined trading preparation sequence.                                                                                Form an opinion based on technical information. Outline a trade. Establish a risk factor. Determine a profit objective. Make a reasonable trade based on specific facts and tangible data. You do not have to base your trade on emotions or a feeling. If you lose, then at least it was a calculated loss. If the trade turns out to be a winner, it is a very satisfying feeling of accomplishment, not to mention putting a profit into your trading
account. Either winning or losing, keeping a worksheet helps you track the
process and allows you to review the results any time.

On successful trading days it will be good to recap your successes so
that they can be repeated. Of course, on bad days recapping can allow you
to focus on what went wrong so you can improve and stop repeating the
same mistakes over and over again.

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