Take opinions from others in the markets with a grain of salt. If you allow others to control your decisions with speculations and guesswork, you lose control. The ultimate goal is to build your positioning from solid decision making which can only come from you and your confidence in the knowledge you have obtained through homework and experience.
It is recommended that you keep at least $500 in your IQ Option trading account, even if your broker requires a lower minimum amount. Most IQ Option trading is heavily leveraged, meaning that you are investing more money that you actually have. If you use leverage to make a trade and it does not pan out, you will be responsible for the full value of the trade, including the leveraged amount.
Don't involve yourself in an uncertain IQ Option trade. It's better to wait in a condition of uncertainty than it is to risk your capital when you aren't sure of success. IQ Option trading is all about the odds, and if you can't tell what the odds are, it's better not to bet at all.
Before trading, make sure that your finances are in order and that you can afford to engage in trading currency. You don't want your finances to be the factor that decides when you have to enter and exit. Without the proper funding behind you, you could really be in a jam if the market takes a terrible turn.
Before you carry out any trade, it is important to remember to figure out the risk/reward ratio. Try to estimate the amount that you will gain, and the amount that you could lose. By looking at the risk/reward ratio, it will give you a much clearer picture regarding wheteher that trade is the best for you.
Watch your use of margin very carefully. Margin is a great tool but it can lead you into massive debt in a heartbeat in the IQ Option market. Margin can increase profits but if the market moves against you, you will be responsible for the shortfall on the margins.
Try to mirror your strategy with the direction of the stock market on your page. If the market is in a downturn, leverage off of this and offer a sale. If things are on the rise, people are willing to spend more so increase your prices slightly. Trending with the market will increase your overall cash flow.
Beginning IQ Option traders often wonder when it is wise to move from a demo account to a real account. A good rule of thumb read the full info here is to move to a micro account after two or three months, and a regular account six months after that to give you plenty of time to learn without suffering large losses.
Above all else, make sure you understand the IQ Option market before jumping in. The water looks fine but there are booby traps around every corner. By following some of these tips, you can be more aware of some of the pitfalls that may await you. If you know what you doing, understand the risks and have plans in place to avoid them, then a career in IQ Option trading may be right around the corner.