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Opening a Binary Options Account – How Much to Deposit?
Generating Profits with Binary Options Trading begins with the Right Deposit
Everyone wants to make money from online trading, but very few are willing to do what it takes to succeed. Some actually want to, but find they cannot because they do not have the money that they can afford to lose. This group of people can be excused; they are better off doing what they do best, which is working to get by and make others rich in the process.
Some people actually have access to some money, but this is usually spent on beer, cigarettes, women, endless outings, eat-outs, etc. Those who engage in these activities and refuse to commit enough money to binary options trading, where they can make their money grow, I refer as stupid. They are those who complain of not having access to trading capital, but have money to spend on things that add no value to their lives whatsoever. I actually like to keep distance from these guys because they really make me want to pull the little hair I have left all out with the way they argue and justify their spending habits. They need to put their money to work, not just waste it, trying to look good in front of others. Read this “Make Money From Money” article to see what I mean.
The “Nice” Traders – $200 Deposit
Then there are the nice guys. They have money, they want to invest, but they also believe in not “risking too much”. But what constitutes not risking too much for this class of traders? Not risking too much means that they deposit the minimum needed for trading binary options: $200. That makes them The Nice Guys. They think they can beat the market by doing all the learning on demo accounts, and applying what they know on live accounts. They do not know that demo trading and live trading are two different kettles of fish. With a $200 live account, there is no room for mistakes and believe it or not, there will be mistakes made while trading the markets. I have never seen a baby trying to walk who has not fallen after a few steps. The same goes for trading. There is no way a trader will hit the live market for the first time and not commit a few blunders. Furthermore, most binary option trades start from $25, so it takes 8 wrong trades to knock out the account. So the $200 nice guys find too soon, that $200 is actually not a safe amount to start trading. A mistake or two and the money is all gone, and when you talk to them, they are like: “hey, I told you the market is too risky”. Yea, of course it’s risky if you don’t open your eyes… crossing the street is risky if you don’t pay attention, filling your car tank with gas is risky too. Use common sense and also, read our “How Much Should I Invest Guide”. If your first deposit is gone and you are thinking to re-deposit, stop and read this first: This is My Second Time Deposit. Should I invest Less or More?
Hope is not lost for those of you who only have $200 to invest. But to stand a chance of making it, you have to find a reliable brokerage that allows very small trades like $5 or max $10. By trading small, you can remain in the game longer and hopefully learn something about live trading. For further insights into binary options first deposits, I recommend reading The Geek’s article Minimum Deposit Means Minimum Risk?, as well as Binary Options Small Deposits – Does Size Really Matter? And don’t forget about Deposit Minimum, Come Collect Your $100k’s in 24 Years! As you can see there’s no shortage of education on our website, so make a coffee and start reading.
Beware – Trading Sharks Ahead!
Then there are the smart guys. They understand that mistakes do happen, and accounts need to be able to withstand the mistakes and still have something to pick up from. Furthermore, bigger accounts enable better risk management. $300-400 is enough to start trading like the smart guys, $500 even better. If you have the needed capital, don’t just deposit $200 once then lose it and deposit more and more. Start with a fair capital to improve risk management capabilities and maybe more importantly, train yourself to become a Shark, a predator of the trading seas. To get you started and pumped up, here’s an article I recommend reading: Real Trading Experiences Part 3 – The Shark.
Now here is the thing with smart money. The smart money guys make money from the suckers. The market is a continuum, and the money flows like a current, from the suckers to the smart guys. Make sure you are never a Sucker and read our article Real Trading Experiences Part 1 – The Sucker.
Be smart; trade smart. You want to deposit. How much? Start with $250-$350 on one of our recommended binary options brokers.
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