Binary Options High Deposits, High Rollers, Who Wins at the End?
So you think you’re a high roller? What does that really mean and how does it change the way you should be approaching binary options? The answers may not be what you think.
The thing is, having a large account does not make you a high roller and being a high roller does not make you a good binary options trader. Regardless of your account size and supposed market savvy there is still a large amount of risk in your account. Thinking that a large balance will protect you from mistakes is foolish and worse. There are two kinds of high rollers; the loser and the winner. Losers can come from money and lose it all or they may get lucky, win a huge stake and then lose it all but in the end they are the same. They are losers because of how they approach the market. A real high roller, a winning high roller, is not defined by the size of their trading account but by their approach to trading. A big deposit doesn’t make you a VIP and an account with a small starting deposit may be the seed a real high roller uses to make huge profits.
- High Roller def- A person who spends and or gambles extravagantly
What makes a successful high roller successful you ask? Discipline, strategy, money management, education and calm. These qualities combine to create a trader who invests with care, takes only the appropriate risk, utilizes a system and strategy and most importantly does not allow their emotions to control their trading. One of the benefits of starting off with a big fat bank roll ( a wannabe high roller) is that you have the advantage of time and money on your side. Traders with smaller accounts or who are relying on trading for income are under a different kind of pressure, one that can turn them into a diamond or wipe them completely out of the markets. My advice to you if you think you are a high roller but don’t really have the experience to back it up; trade, trade a lot but use proper money management and positions sizing but most importantly learn a system and strategy. If you are a high roller and already have the experience it takes to approach the market as a winner here are a few strategies that we here at BOTS have approved for you. These strategies build upon the basic lessons every new traders should learn. They often incorporate multiple indicators, focus on shorter term time frames and come with more risk.
The MACD Divergence Strategy
MACD, or Moving Average Convergence Divergence Indicator, is one of the best single indicators I know. It is a trend following indicator that provides clear and repeatable signals easy for new traders to learn. It is also one of the more advanced indicators because it also provides signals based on divergences. A divergence is when the market is moving counter to an underlying indicator. In the case of MACD this may mean that when the market makes a new high the indicator does not make a new high. It may also mean that when the market makes a new low the indicator does not make a new low. This signal represents a weakness in the underlying trend and a potential for market reversal. These signals can be quite good, provide a great entry for advanced traders and can be a real pain in the ass to nail down. The thing about divergence is that it does not give an exact entry. In order to use it successfully a trader must be able to utilize other indicators to pin point an entry and have the balls to trade against the underlying trend.
Click here for the full article on MACD Divergence Strategy
The EUR/USD Simple Strategy
This strategy may be more appropriately called the PSAR Momentum strategy because of how it works. Although originally developed for the EUR/USD currency pair it is a strategy that can work with any asset and in any time frame. This strategy is another that builds on the basic MACD strategy and could even be used in conjunction with the Divergence Strategy above. This one uses MACD and PSAR together to pinpoint entries. The PSAR, if you are not familiar with it, is an indicator first used in the futures and spot forex markets. It is meant for short term trading and provides both bullish and bearish entries regardless of the trend. This strategy requires a convergent signal from both indicators which means a stronger signal than one indicator by itself. By requiring the signals to match up the strategy helps to remove many of the whipsaws and false signals that can wipe non-high rollers right out of the market.
- Click here for the full article on the EUR/USD Simple Strategy