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Important things to consider
1. Binary Options Education

Newcomers often overlook this important aspect, as binary trading is generally perceived as an easy to learn activity. Some traders unreasonably believe that after a few days of demo trading they know everything they need to know and start opening multiple positions, investing high amounts. Viewing binary options trading as “easy money” is a wrong approach that can make a trader to drain his account in a short period of time. Education, proper risk management techniques, sticking to verified trading strategies and treating binary options trading is a business, rather than a casino are very important rules of binary trading. Plan your trades and trade your plan!

2. Trading Signals, Robots and Social trading

It is much easier to make predictions, when you are relying on professional advice. Signal and robot providers employ professional analysts who study price charts, looking for various investment opportunities, and generate trading alerts. Social trading allows beginner traders to follow other traders who have years of experience, and use their expertise to place profitable trades.

If you are uncertain about what signal or robot provider to trust, look for credible reviews online and talk to your Freestyle Options account manager for recommendations.

3. Binary Options Trading Psychology

Surprisingly, not many traders realize that psychology is involved in the trading process and it plays a very important role in the outcome of their trading activity. It affects risk management approach, trading strategies, the amounts traders invest in every trade and how they handle their winning or losing trades. Being too pessimistic or on the contrary too optimistic can lead a trader to a dangerous path. A trader who can master the psychological aspects of trading and overcome his negative emotions such as fear, greed, lack of confidence, is on a right track. The rest is just a matter of education and using proper tools before the profits start rolling in.

4. Binary Trading on a Demo account (Freestyle Test-Drive charts)

Freestyle Test Drive charts is a great tool that allows traders to gain experience and make themselves familiar with Freestyle Options trading platform without spending a single dollar. Moreover all profit generated during Test-drive can be credited to a live trading account in a form of prize money! Trading on Test-drive charts will give you an opportunity to test your trading skills and build up your confidence level.