There was nothing but a few pennies in my hand and no financial knowledge at first. However, my dream when I first joined IQ Option was really big, my friends! It’s a house and a 4-seater car. And it will be performed by the Bollinger Bands indicator which is called the “holy grail” of beginners. In a moment, I will point out the inherent mistakes conveyed by former traders. Do not skip this post if you are new to IQ Option.
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“Industrialize” the Bollinger Bands indicator for beginners
The Bollinger Bands indicator industrially defaults for beginners. If you are new to the market, you must know it and use it to make money. It is unknown when it is considered the luggage of the beginners. Like when you first know the alphabet, it should be the letter A.
I am also a victim of the “industrialization” of the Bollinger Bands indicator. When I did not know how to profit from IQ Option, I was stuffed with dozens of unreasonable stuff like making money easily with the Bollinger Bands indicator, making money with just mouse clicks. Roughly, it is very easy to make money with the “ultimate” indicator in hand. The prospect of a luxury villa with money flowing into my account like a flood made me extremely excited.
I started to get too aggressive and rushed into making money like a moth to a flame without knowing how dangerous it was.
In the eyes of people who have experienced it, it is a long way to go if you want to make money in IQ Option. But for those tenderfeet, it is as short as a joke.
Make your dream come true with Bollinger Bands
You may wonder why I do not call it investment or trading but playing. For most beginners to IQ Option, it is more appropriate to use the word “playing”. Because they do not have a so-called methodical plan to be seen as an investment. The word “trading” doesn’t seem to be in the dictionary of beginners. They just love to play and take money home.
Brokers skillfully seed and sanctify the Bollinger Bands to realize the dream of wealth in the eyes of beginners. Sadly, by accident or on purpose, experienced traders also believe that it is suitable for beginners. They may also find it so simple that they nod their heads to ignore. This unintentionally supports the intentions of the bad guys.
All beginners have faith that a Bollinger Bands indicator will print money for themselves. Just like that, they put effort, time, money (on the courses) to memorize like a parrot without knowing what it is.
All important things are ignored because they have not had the experience to perceive. Capital management and trading psychology will be presented clearly in detail in the following paragraph. Because this is an important and indispensable part if you want to become a successful trader.
The market treats beginners
To make it easy to imagine this somewhat rough title, you can try searching your memory. When you first entered IQ Option, how many out of your first 10 orders did you win? I bet that 8 out of 10 is the minimum number. It is so strange. When you know nothing, the odds of winning are sky-high. However, when fully analyzing the order conditions, the experienced traders may still “get screwed up” as usual.
The time that beginners are treated is very short, maybe only a few days. When everything makes you walk in the clouds, just a bucket of cold water can pull you to the ground. With the trading history full of profits, just a few losing orders can make you crazy and eventually go all-in.
In a funny way, the IQ Option platform gives you dollars to keep for watching only. Besides watching, you can’t use it. Only those who can use it are the master. Keeping it for a few days only makes you bitter and gives birth to nothing but foolishness.
You should remember that the money in the account is just representative numbers. Real money is when it is in your bank account or in your pocket.
The market challenges beginners
When reading up to here, you have come to a loss after “keeping” money for brokers. This stage is very pivotal. If you do not have a former to guide you, you may easily go to a dead end. While constantly trying to get back the lost money, most are dragged into a spiral of loss with no way out.
Everyone is going to experience a loss at first. Instead of trying to recover it, consider it as tuition. Think it over and see what you can draw out of it. Don’t try to get back what has been taken away by the market. It will do a lot of harm.
After taking the slaps that make us awake and return to the ground, we have to options as follows:
- Continue to look for opportunities in IQ Option.
- Turn our back away just because it doesn’t feel right.
Certainly, 99.9% would choose option 1. If so, then you need to prepare a plan to make money instead of keeping money for someone else. It is an unpleasant feeling that couldn’t be expressed in words. If you don’t change and repeat the same action over and over again, don’t expect another result.
Building a trading system should not rely on indicators for technical analysis
To avoid relying too much on technical indicators you should set the right opening conditions. That is using candlestick patterns, for example, or the market trend which is also not a bad idea. If you trade long enough, you will understand that the Bollinger Bands indicator is appropriate when the market is sideways. When there is a trend, it is easy to lose its effect. It is something that you might never know in the past.
If you like, you can study profitable trading strategies using the Bollinger Bands indicator when the market is sideways. Familiar things will make us easier to catch up with than other unfamiliar indicators. Let me introduce to you a trading strategy using out band candlesticks. This is the strategy surrounding the Bollinger Bands indicator.
Out Band candlestick – How to trade in IQ Option in the easiest way
Study and find a strategy that works for yourself. And most importantly, it should have a win rate of over 60%. To avoid risk, practice it on a Demo account before trading with a Real one. Most people skip the result statistic step. They rush to trade with real money. Don’t risk your money for the uncertainties.
The required luggage for beginners to make money in IQ Option
To make money successfully in IQ Option, the necessary luggage is:
- Capital: With a capital of several hundred dollars, you may not be serious about trading. Come back with $1000 to make sure you’re ready.
- Trading strategy: This is how you make money in IQ Option. It certainly works and offers a high probability.
- Risk management (capital management): Do not ignore this important part. It greatly helps you avoid many losses and maximize profits.
- Trading psychology: Be very calm before the provocative action of the market. A cool head and a warm heart will help you overcome everything.
- Luck: This is the least expected thing but sometimes it brings surprising happiness when it comes to you.
All will be introduced in the following article so that you can refer to see which you are lacking. From there, step by step, you will become hard to beat and immortal.
The last line
Do not be delusional. Do not dream much. What is needed is knowledge and a specific plan. Study and learn. Do not pay too much attention to profit until you have enough bravery. The market will do what it needs to do. Your effort, enthusiasm, and energy will be rewarded in exchange for a large amount of money.
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The post IQ Option Trading Log: Bollinger Bands Indicator – The “Holy Grail” Of Beginners appeared first on How To Trade Blog.
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