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With Binomo, you can trade and earn money through the most advanced and innovative methods. You have the opportunity to participate in various markets and simultaneously trade different assets. However, you still need to adhere to certain methods and rules to generate profits and minimize losses.
Guide to Earning Money with Binomo from Home
1. Ways to Earn Money with Binomo
Binomo is an online investment platform based on the binary options trading model. This model allows players to predict the future fluctuations of various assets such as gold, stocks, forex, cryptocurrencies, and more. If investors predict correctly, they will receive money based on the platform's offered ratio. To participate in Binomo, you need to know the latest Binomo registration process in 2023.
To start earning money with Binomo, follow these steps:
Step 1: Choose the type of trading account. If you are a new investor, select a demo account to practice. If you are ready to trade with real money, choose a real account.
Step 2: Choose the trading asset pairs. Each pair will have different profit ratios, the higher the percentage, the higher your profit potential.
Step 3: Set the investment amount and the trade closing time. The minimum amount for a trade is 1 USD, maximum - 1000 USD. The expiration time is the end of the trade. There are many expiration times to choose from: 1 minute, 5 minutes, 15 minutes, etc.
Step 5: If your prediction is correct, your investment amount plus profit will be added to your account balance. In the event of a tie - when the opening price equals the closing price - you will receive back your initial investment. If your prediction is incorrect - your investment amount will not be refunded.
2. Investment Principles to Make Money with Binomo
Here are the investment principles to make money with Binomo:
- Discipline
It can be said that making money is a process that requires patience and discipline. Sometimes trades may not yield the desired results. However, this is when investors often lose money due to emotional impulses. What needs to be done at this point is to calmly review one's investment strategy and proceed cautiously with each investment step.
Additionally, you need discipline when executing trades on Binomo. Set goals for both profit and loss, and stop at the right moment when you reach those goals. Also, limit your usage time on Binomo to maintain optimal focus. Making money is not a get-rich-quick scheme, so discipline is crucial for success.
- Capital Management
The usual amount for a trade on Binomo is 10 USD, so if your initial capital is 50 USD, a failed trade will result in a loss of 20% of your initial capital. This can greatly affect your psychology and induce fear. However, with an initial capital of $500, your loss ratio will be only 2%, helping to stabilize your psychology and make more accurate decisions.
Additionally, Binomo provides a demo account or a trial account with 1000 USD for users to test investment strategies or new market predictions. In the demo account, the money is virtual, and you will not lose real money if you make mistakes. Therefore, with this trial account, users can also practice capital management effectively.
- Trade Management
As mentioned earlier, each trade on Binomo should not exceed 2% of the total amount in the account. This will minimize losses and increase your winning chances.
Additionally, another important aspect is that the total amount of all open trades should not exceed 15% of the capital, avoiding situations where you lose a lot of money in a short period. However, if you have more experience in the market, you can adjust this ratio based on your preferences and goals.
- Loss Limitation
If you have a bad day, never try to recover what's lost. Set limits when experiencing losses, such as the maximum number of failed trades in a day or the percentage ratio of losses to total balance in a day.
Never exceed those limits, even if you feel you can win because you won't know if you'll lose more or just recover a little. Take a break, keep your mind relaxed, and the next day you'll make more accurate decisions.
Not only losses, but you can also set profit targets for a day. Once you've reached this target, you should also stop and take a break for a relaxed mind and thorough preparation for the next day's trading session.
- Enhance Knowledge and Experience
Online trading is a relatively new method of making money. So there's a lot you need to observe and learn to gain more experience in the market. From trading strategies and new types of assets to continuously updated market information, all of these will greatly assist you in making money on Binomo.
Furthermore, with abundant knowledge and experience, you will minimize your chances of losses to the maximum by removing emotions and using logic in your trades. With a solid foundation, you can certainly profit from participating in Binomo.
- Emotion Control
Another important point when engaging in investment is controlling emotions. Your emotional state, whether positive or negative, should not hinder you from following your predetermined trading strategies.
Thus, Mytour has compiled the rules in the investment market as well as how to make money with Binomo, which will help you consistently win at Binomo. With this information, hopefully, you will achieve the success and earn the income you expect.
