There are many articles about the basics of trading. You can also find many things written about some of the details that cover trading binary options. If you read most of our articles on binary options you will get loads of useful tips to help you become a better and more successful trader. However, some questions have remained unanswered, such as this one. This is my top tip to find out how many trades you can handle.
What Level Trader Are You?
Some traders have just started, while others have been around for ages. You may even be new to the binary options game, but not to trading in general. Stockbrokers that have just started trading binary options, for example, could not be considered beginners. To establish how many trades you should place at a time, please first identify at what level you are as a trader.
When you’ve just started trading, the first thing you must look at is how much you will spend per trade. I always advise to invest about 5 percent of your budget per trade. The second thing is that everything is new to you and you will see a lot of different things that may distract you, so it’s hard to keep your focus. Because of this, I would advise you to place 1, maybe 2 trades at a time.
If you have been around for a little longer, and your results have been showing a steady upward line, you may be ready to increase your number of simultaneous trades. As tempting as it may be, don’t overdo it in this stage. You’re still learning, so keep you long-term goals in mind. I would recommend not going over 5 trades at a time to make sure you keep track of what you’re doing.
Once you’ve become a pro you should be able to set this number for yourself. In other words: place as many simultaneous trades as you can handle.
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