The journey to make money in IQ Option within 1 month has made it to week 2. Everything was going well as expected at first. If you want to apply the T.L.S strategy to trading, please learn and apply it on a Demo account first.
During that time, remember to maintain a careful log. Once you have a stable profit, then you can think about making money in IQ Option. This article will address the mistakes that beginners often encounter. How to revive the spirit and orders opened in week 2 will also be available.
Video on earning a profit of $186 using the T.L.S trading strategy in IQ Option
Common mistakes when starting to make money in IQ Option
In the world, no one is perfect, not even the great ones. As a human being, there must be times when it comes to mistakes. But in order to become a successful person, it is necessary to minimize the number of mistakes.
When entering the path of becoming a trader, everyone makes common mistakes sometimes. Correctly speaking, you are very excited when entering the market but have not prepared anything out. Not being ready to experience real combat will cause you many difficulties.
If you find it really difficult learning to take notes of strategies on a Demo account, try a real account with a small amount of capital to experience the best feeling.
Ignore your knowledge before making money in IQ Option
You can easily find an amateur investor who only reads a few books or trades a few weeks on a Demo account. Then they identify themselves as professional traders on the financial markets and start trading with real accounts. And the painful ending of those investors is something that is foreseen.
In trading and in life, knowing oneself will always bring success. Not understanding the opponent or ourselves but still jumping into battle, defeat is inevitable.
Lack of confidence in oneself and in the strategy to make money in IQ Option
This typical mistake is because traders do not really believe in their abilities. The typical symptom is always searching for dozens of new trading strategies but the author and reliability of those articles are unknown.
Create your own unique trading style that makes the difference. Don’t let these illogical strategies slow you down on your way to success.
Blindly listen to famous traders
You come across a speech on the TV about the state of the market by a famous trader. He believes that prices will continue to increase in the future. Of course, it is highly likely because they are professional financiers.
But one thing we should keep in mind is that their reviews should be for reference only. In order to make the final decision, we need our own judgment. This contributes to our success in making money in IQ Option.
Poor emotional management makes it impossible to earn money in IQ Option
Another common mistake for novice traders is not being able to control their psychology during trading. All kinds of emotion, though more or less, affect trading. As a result, we break the rules ourselves, leading to unnecessary mistakes.
A common example in options trading is when there is a series of continuous losing orders. Traders tend to immediately open another order with a larger volume to undo the previous orders, regardless of the entry criteria.
Things you need to do if you want to make money in IQ Option
If you are a trader, you cannot help but experience ups and downs every time you trade. It could be enormous winning orders, narrow exit orders, or instant-loss orders, etc. In IQ Option, those emotional levels are very common. No matter how godly you deify your strategy, we can never control the outcome after pressing the button. What you have control over are your money and your mentality. Here is how I usually do when I start making money in IQ Option.
Enjoy a comforting favorite drink
To create the real comfort needed in making money in IQ Option, you should choose your favorite drink. Avoid alcohol that makes you excited. For me, a cup of coffee or tea can keep me alert during stressful trading. Since a minute of neglect in the market can cost money in your account, stay 100% focused.
Set up the strategy before trading
It is always the most important to have trading orders with a high probability of winning. If you have not identified the trend, resistance/support, do not reluctantly place any order. You may not be able to make money from IQ Option. Moreover, you will lose money while you’re still confused.
If you’ve realized whether a market is up or down, you have successfully gotten rid of one prediction. If the trend is up, you just need to open UP orders and find a reasonable entry point. That’s simple. Take 5 to 10 minutes to see what state the market is in and to direct your orders.
Temporarily stop when there is a chain of winning or losing
Do you turn red when you fall on a losing streak? Or are you deluding yourself after a series of consecutive wins? If there are signs of emotional imbalance and the alertness has gone away, turn off the computer. Do a few warm-ups to start an exercise session to calm your emotional outbursts. Please return to trading once equilibrium has been reached.
You can also watch a movie to forget about the previous transaction feeling. Do everything you can to quickly forget the bad feelings that cause you to lose money quickly.
Gather comments from the predecessors
Before starting to make money in IQ Option, you should look at the comments of experienced people through community channels such as Facebook, Youtube, etc. This helps you confirm the direction of the market under the perspective of experienced traders. It is not necessary to trade according to their judgment but you need to shape the future market.
Trading in IQ Option using the T.L.S strategy in week 2 from July 20 to July 24
There were a total of 10 orders, in which there were 8 wins and 2 losses. The win rate was 80%. Then the application of Classic capital management (balanced investment) would definitely bring in profits. At this point, it can be said that this is the most effective strategy of making money in IQ Option.
If you have prepared the above, it is not difficult to make a profit. However, make sure you understand your strategy. Above all, you need to have a win rate of above 70% if you want a steady profit.
Week 2 is over, bringing in $186.5 profits from trading in IQ Option. Making money is a long process that requires a constant route and practice. If you are still afraid of losing money, you may not be ready to invest. Practice with the Demo account to increase your market sensitivity.