As explained in detail throughout this article, a binary options strategy is essential if you want to trade profitably. It gives structure to your trading, removes emotion-led decision making, and lets you analyze and improve.
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How do you test a strategy without risking your money? After all, how can you find out that a strategy doesn’t work without trying it? If you try a strategy that doesn’t work using your own money, you will lose it. That could result in you going through your available funds before the testing phase ends, leaving you with nothing to trade with.
There is a solution:)
A binary options demo account that I always recommend. All reputable and good quality brokers and trading platforms offer demo accounts.
You can always find links to demo accounts of renowned brokers in the description of my youtube videos:
They let you test the platform, but, crucially, they also let you test your trading strategies using real market conditions. The testing is done using virtual money instead of your own, so there is no real money at risk. Of course, you can’t make any money either, but that is not the point. The point of a demo account is to solidify a binary options strategy that is profitable.
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