Mistake #1: Losing Focus
After a while, a lot of traders tend to lose focus. This can easily be avoided by taking pauses if you have a long trading session, but also in the long run by following the news. Keep up with the latest developments. Also, stay on top of the news, for example by following our binary options Facebook page and our binary options YouTube channel. Staying focused is key.
Mistake #2: Mistreating Advice
There are a lot of people who will want to give you advice on what to trade. Of course, there are examples of good advice. However, most advice isn’t as good as it sounds. Know your source. Unless he’s Warren Buffett or Donald Trump, there’s a large chance your insider’s tip is useless. In that case, you’re better off using a signals service, such as WinWinSignals or Ultimate4Trading.
Mistake #3: Giving Up
This is a mistake so huge, we have dedicated a whole article to it. If you give up, all your hard work has been for nothing. Never give up. If you look at all the great investors, all of them had a low point. But none of them gave up.
Now that you know which mistakes to avoid, it’s time to start learning the basics. Start now by reading our comprehensive How To Guide.