One of the best moments of our work is to receive feedback from you expressing all the important things that you wish to share with us and other traders. We are extremely happy and grateful for all the kind words and suggestions you send and we would like to publish it here for everybody who is interested in binary options trading.
We have received this letter from Stefano from beautiful Italy. You might know him from our Binary Blast Contest, where he goes under the name of step09 and have won 10 times! This is one of the most amazing trading results we have seen so far. Hope, you will enjoy his thoughts about it as much as we have!
"Hi! I'm Stefano, thank you for this interview! I like Binary Blast Contest very much and I think its a great experience for those who want to learn binary options trading, because it gives an opportunity to know how it really works. I think its not difficult to win a round of Binary Blast. The difficulty is to remain calm, concentrated and relaxed and not to be overwhelmed by emotions".
1) How do you prepare for each round?
S: "In my opinion, the secret of trading success lies in our ability to control your own state of mind and act as you have planned despite of the mood and circumstances.
If you lose control and let yourself be carried away by emotions, you will fail, because you always have to act rationally.
Before the Contest starts, its better to be mentally calm and relaxed.Also it depends on the time and your location. I, for example, have it at lunch time, so, soon as I finish eating I am ready take part in the Contest. It is always better with a full belly! It is also good to take a walk half an hour before".
2) What do you like about the Contest the most?
S: "I love this Contest because it's nice and fun to be challenged by others. It allows you to check your skill level, because trading is not given by luck, but by its ability to follow the events on financial markets in it's infinite randomness. The Contest allows not only to have a little fun, but also to go beyond your limits, have 1 hour to give your best and see where you can get with it. It is beautiful - the idea of how we could go in real life and especially to understand when it is good to take a break from it. Beginning is the funniest stage though, you never know how far you can go".
3) What can you recommend to other participants?
S: "I'd like to recommend three things to other traders:
1) Train a lot in demo, look at the candles and their movements, because both short and long term movements are repetitive and once you learn it it becomes easy to understand when to act. The biggest problem is to act in time. Training on the Demo will help you to make your decisions faster.
2) Never give up, even if you lose one, two, ten, a hundred times? Never give up! Trading is not for losers. And losers are not the ones who lose money. Losers are those who surrender to the difficulties.
3) Last thing, Contests are a cross between demo and real account, while your way of trading in the contest reflects your way to trade with the real money, especially on decision-making level. So, be careful even when you participate in the Contest, because you learn them a lot, especially on yourself and that's how you can learn to manage your emotions, key thing for those who want to be successful with binary options".
We would like to thank Stefano for his detailed and helpful answers and also express our gratitude to all the traders, who join the Contest every week. Good luck in your trading activities!