How to Deposit and Withdraw Funds with Binary Options Robot Software

Common Mistakes of Beginners- And How To Fix Them

When a beginner goes in unprepared trading binary options, the broker will feast on them. New traders often make mistakes such as taking way to big a position for one trade, taking a bad loss, and then staying way to small the next 5 times.

They may even experience winning easily on small trades, but they never make back the big loss. New traders take way too many trades, let emotions control their trading, and don’t have the self control to stay out of low percentage trades that they know have small chance of making them money.

After knowing all the pitfalls, why would a new trader ever decide to open a binary options account and become a trader? Well, they do it because they have the power to win systematically if they have some intelligence and a plan on their side.

A new trader needs to understand the most common pitfalls, otherwise they may not even know that they are making a mistake while they do it! With that in mind, here are the most common mistakes new traders make, with what they should do instead.

1. Not taking every trade with a purpose. Beginners often find themselves taking trades based on a feeling, or out of boredom. This is a surefire way to make a broker rich. Never enter into a trade without a defined thesis as to why you are doing it. Think the trade over rationally before entering. Is your thesis really valid? Is it strong? What do you estimate the probability of winning given your experience? Are you hoping for the best outcome or considering the most likely outcome? Make every trade count.
2. Letting emotion influence – when a trade is entered into, or how big the size of the trade becomes. Never let emotion influence your trading. Good or bad it will never help you. Trading is for cool rational thought, striving to systematically take profits.
3. Taking way too big sized trades: Understand that you are going to have losses along the way. Even the best professionals do. Never let one trade significantly affect your account balance in a way that would affect your future trading. A good rule of thumb is never to take on a trade bigger than 1/15 of your total account value. With binary options I would recommend 1/20.
4. Not learning from mistakes and repeating them over and over: Keep a trading journal as we have recommended before. Jot down a quick sentence or two whenever you learn something new. Do whatever you need to do to prevent yourself from repeating mistakes.
5. Becoming frustrated and quitting right before you get good: The difference between making a lot of money systematically and losing money can be very narrow. Don’t let frustration keep you from realizing your ultimate goal. Understand that there will be lumps along the way, but there will also be victories, and the lumps make the victories feel so much sweeter.

How Beginners Can Make Money

Even with so many ways to mess up, beginners to binary option trading can make money if they work hard and follow a system. The key to binary options trading is to control risk. As a result, a trader can never lose too much money on any particular trade. Hypothetically, a trader has a 50% chance of being correct on any trade whether they buy a call or a put option. To make money, a trader only needs to be correct on about 60% of trades of the trades that they take. This means that of the trades that a beginner with absolutely no edge (an edge is something giving a trader a better than random chance to make money) would take, they need to figure out how to turn about 20% of them into winning trades.

Binary Options – How Much Can You Make?: This is not a simple question. There are certainly traders who make a living with binary options. You could make thousands of dollars every month. However the best is if you start with lower expectations. Making hundreds of dollars steadily is a good way to start.

Here are possible ways that any beginner can easily do this:

1. Use a signalling service. While most are not are not going to give a trader a significantly better than random chance of making money, they still should tilt the odds into the trader’s favor. This is all any trader can ask for. There are paid services out there such as elite trader, but even a free service from a site like barchart can give you the edge you need.
2. Learn to use technical indicators. Technical trading involves using strictly price action (price charts) to predict future movements. There are a lot of indicators out there, but some of the most common ones involve using moving averages. Examples of popular indicators are MACD, relative strength index, and bollinger bands. If you can find an indicator that works well for the security you are trading you can gain the edge you need in order to turn some of your would be losing trades into winners.
3. Trade stocks before trading binary options. Stock trading is less volatile for a trader’s account than binary option trading as long as the trader does not use leverage and sticks to securities priced over $5. If you can figure out how to be correct on more than 50% of your stock trades, you can take what you learn and apply it to binary options to multiply your earnings power.
4. Track your performance in each binary option security. Most people will be better at trading some stocks or commodities or currency pair than they are at others. The simplified reason for this is that each particular symbol will move differently than the others because each one has its own characteristics and traders involved in moving the price. If you find a handful of option trades that you are consistently profitable in, stick with what works and increase your size. You don’t need to waste your time and money on unprofitable trading.
5. Buy the right option length for your trading style. Some trading styles will work better over very short term trades, and some will work better over trades held for a long time. Know your style and the appropriate length option you should buy. A value investor for instance would not be sensitive to price changes over a 1 minute option, but may be correct on a super high percentage of trades over a 6 month period.

Binary Option Trading Is Not Easy For Beginners

The problem with this dream is, how often does this really happen? Let’s just say a lot of brokers would never be in business if it happened very often that beginners made money.

Above all, beginners have dreams of being smarter, better, and luckier than everyone else who has every done something, but the harsh reality is that trading in any form is not easy.

Especially when it comes to making money from trading, it takes hard work, dedication, and a commitment to learning. And when I say learning I don’t mean just reading a couple articles, I mean actually learning from your wins, from your losses, from hard earned experience. As a result never take a trade and learn nothing from it, especially as a new trader.

What Our Readers Asked

The short answer is yes, you can make a lot of money trading binary options. However it will be very hard to do so if your initial deposit is low. Always keep in mind that binary options is risky and you could also lose money.

A binary options broker makes money when you lose your trade. This is the main reason why there are not fees when trading.

Yes, many traders have success with binary options trading. You can even follow some of these traders. In order to do so, pick a broker that offers social trading. This way you can pick your favorite trader and copy their actions.

Do We Recommend New Traders Even Try Binary Options?

Of course! Every successful trader was new at some point. Just because a lot of traders go into trading without educating themselves or having realistic expectations doesn’t mean you will as a new trader. In fact, since you are reading this article you almost decidedly will not. At How We Trade our job is to prepare new traders for success. So move forward knowing you have a strong ally in us!

Interested in opening an account? Check out our homepage for the best trading platforms, along with our top rated binary options brokers.

IQ Option – Best Trading Platform

IQ Option is a trading platfrom that is regulated by CYSEC. It is the best trading binary options broker on our website. It’s a perfect pick for new traders.

• Trusted CYSEC Regulated Broker
• Minimum Deposit: $10 (Lowest In The Industry)
• Free Demo Account

How to Deposit and Withdraw Funds with Binary Options Robot Software

Q: What is OptionRobot.com?
A: OptionRobot.com is a browser based binary options auto trader that places trades direct to your linked broker

Q: How do I track my results?
A: You track results placed by OptionRobot.com via the “trading history” in your link broker account

Q: Is OptionRobot.com legal?
A: Yes. OptionRobot.com is a legal browser based software.

Q: How much does OptionRobot.com cost?
A: OptionRobot.com is free to join. Of course you will need a real money trading account in your linked broker account for the software to place trades.

Q: Does OptionRobot.com work with Tablets and Mobiles?
A: Yes

Q: What expiration times does the Robot use?
A: You can configure one of any of the following expiry times: 60 Second, 5 Minute, 10 Minute, 15 Minute & 60 Minute. Please refer to our broker settings comparison article for which expiry times are available for each respective broker.

Q: Does OptionRobot.com work whilst I’m offline?
A: No. You must have an active internet connection and your web browser open for the robot to work

Q: What rates (pricing) are being used by each broker?
A: The rate is a live feed directly taken from Reuters and adapted in each brokers algorithm.

Q: Do you accept UK residents?
A: Yes. You can join via our main site here or our UK sister website OptionRobot.co.uk

Q: Is Binary Options trading a form of gambling?
A: No, binary options have been classified as a “financial instrument” by many regulators in various global jurisdictions. Optionrobot.com is not intended for use by any person in any country where such use would be contrary to local law or regulation. It is the responsibility of visitors to Optionrobot.com to ascertain the terms of and comply with any local law or regulation to which they or the trades they undertake are subject. If you are interested in “gambling” we recommend trying Roulettebot.com

Account Questions

Q: How do I begin to auto-trade?
A: Click here to join. Fill out the signup form. Next step is to deposit in your broker. Last step is to activate the auto-trade button.

Q: How do I change my robot settings?
A: Click “Settings” in the left hand menu. From there you can adjust the following:

• Method: Classic, Martingale, Fibonacci
• Expiry: 60 Seconds, 5 Minutes, 10 Minutes, 15 Minutes, 30 Minutes & 60 Minutes
• Amount: $20 to $500
• Max Simultaneous Trades: 1 – 8
• Currencies: EUR/USD, EUR/JPY, GBP/USD, USD/JPY, AUD/USD, USD/CHF, EUR/GBP, USD/CAD
• Indicators: Trend, MACD, RSI, STOCH, Williams & CCI

Deposit & Withdrawal Questions

Q: What is the recommended deposit amount?
A: We recommend at least $500 – $1000 however you can start with any amount.

Q: What is the minimum amount I can deposit in a compatible broker?
A: $250 – $300 USD; depending on which broker you choose.

Q: How do I withdraw my profits and balance?
A: You can withdraw at any stage by clicking the “Withdraw” button within the Robot Trading Platform. From there you will be taken to your linked broker account withdrawal page. Follow the withdrawal instructions from there.

Broker Questions

Q: How do I choose a broker?
A: On the signup form you must choose one of the compatible brokers.

Q: What is a binary option broker?
A: A broker is a company that owns and operates a trading platform where clients can place trades on various underlying assets.

Q: Can I use my existing broker account with OptionRobot.com?
A: No. Only new accounts made via OptionRobot.com are eligible.

Demo Mode Questions

Q: Can I try OptionRobot.com with a Demo Account?
A: Yes. When you login please press the red “TRY DEMO MODE” button. The demo mode starts with $1000 and is exactly the same signals and settings available in the “REAL MONEY MODE”. The two main difference between “REAL MONEY MODE” and “TRY DEMO MODE”:

1. In “REAL MONEY MODE” the payout % which will always fluctuate depending on the brokers current return % for each pair and expiry time.
2. In “REAL MONEY MODE” the price feed is direct from your linked broker account

Q: How come I can use the demo mode on weekends when the market is closed?
A: Note that on weekends when the markets are closed we use a “simulated pricing feed” so you can still experience and become familiar with the robot and its powerful indicators and money management settings.

Q: How come the “Demo Mode” pricing feed is different from the “Real Money Mode” feed?
A: We use the eToro pricing feed when in “Demo Mode”. It is not possible to trade a Demo Account on any live broker pricing feed as the brokers only allow access to “Real Money” accounts.

How to Deposit and Withdraw Funds

In order to trade with a Binary Options broker for real money of course a deposit is required. However, withdrawing funds must also be considered. All traders want to earn money. And sooner or later a successful trader wants to withdraw his winnings. One of the defining aspects of the quality of an online binary options broker is the speed at which they can execute a withdrawal order and it has also become one of the most obvious factors in choosing a broker.

Beginners to options trading do not always understand how deposits and withdrawals work. This is why we show you here the most important points regarding the transfer of funds to and from a Binary Options broker.

1. Payment Method

Besides credit cards and bank transfer, there are hundreds of other payment methods available. These all have their advantages and disadvantages. Especially in vogue are the so-called eWallets, ie virtual wallets that are linked to a credit card or bank account. The most popular among these are PayPal, Skrill (Moneybookers) and Neteller. These eWallets can be used to quickly and easily make transfer funds and are offered often as banking options from Binary Options brokers.

Such eWallet payment methods are recommended especially for Binary Options traders because money can quickly be deposited and withdrawn. While it can take a few days to deposit money by bank transfer, with an eWallet this happens almost instantly. One of the things to be mindful of, however, is the possibility that the ewallet will not be accessible in your country. One of the difficulties of having 100% web-based brokers are that they are still subject to legal jurisdictions and some will not ba available in certain countries. Whilst this is a problem being slowly resolved, for some of the most convenient online payment systems such as Paypal this can be a significant obstacle so it is worth checking the availability of these before you decide to register with a particular broker.

When choosing a method for his deposits, one has also the check in advance how he can make a withdrawal. Usually withdrawals at Binary Options brokers have to be made using the same method that was also used for the deposit. The main reason for this is the security aspect. Even if someone would hack a password and gain access to the trading account, he cannot withdraw that money to his own bank account.

2. Personal Data and Proof of Identity

Safety of the funds must have the highest priority at brokers. A broker has to prevent all forms of money laundering or fraud in general. Make sure that when you sign up at a broker that you use your real name and that also the other data like your birth date is correct before clicking on the “open account” button. With inaccurate data you might run the risk of getting problems, at the latest when you want to withdraw your winnings. Additionally, online payment providers such as Paypal have fiary stringent systems in place for you to verify your identity before being able to transfer money in either direction. Again, if your registration information is incoherent with this it may be difficult for you to make to transaction without providing further evidence of identity.

Also make sure to have up-to-date copies of the required documents. When opening an account, or at the latest when you want to withdraw money, the broker will request a proof of identity from you. These documents can be uploaded electronically. But obviously the name on the passport or identity card must be the same as the name you entered when signing up. In addition to this, brokers usually request a proof of your address. For this reason, you will also have to upload a scan or a picture of a recent utility bill. The address there must also match the address you entered when signing up.

3. Bonus Offers and Cashing Out Problems

It happens again and again: You registered at a Binary Options broker and claimed a bonus on your first deposit. You are trading successfully for a while. Now it’s time to reward yourself and to cash out your winnings. Or you might not be satisfied with the platform or with the support and want to withdraw your remaining balance. What can happen now is that the broker refuses to proceed with your cash out because you previously received a bonus. Often, brokers require you to make a certain turnover of the bonus amount before you can withdraw your money. So make sure to read and understand the bonus requirements before you deposit money.

A bonus is interesting because it increases your winnings. But be aware that cashing out might become difficult as long as you haven’t cleared the bonus. And don’t start making more risky trades just to clear your bonus faster.

4. Fees for Deposits and Withdrawals

Financial transactions cost money. The payment provider wants to earn money with every transfer. And the broker might want you to trade more and therefore introduce high fees or a minimum withdrawal amount.

When depositing funds brokers usually pay the fees. When withdrawing funds, they want you to pay the transaction fees. This might range from 1-2% (for eWallets like Skrill) up to fixed fees (for example 30$ for a wire transfer).

But not all Binary Options brokers act like this. Many of our recommended brokers allow you to withdraw money at least once a month at no cost, with costs of about 30$ for additional cash outs in the same month. If it happens that you are left with just 100$ on your account you should think twice about whether to pay these fees or to just wait until the next month begins.

Our recommendation: Start trading Binary Options with:

www.iqoption.com
IQ Option is one of the largest trading platforms in the world, with over 7,000,000 accounts opened. Your money is safe thanks to segregated trust accounts for cliends’ funds. And profit payouts are among the fastest in the finance industry. Start now!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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