What to Do if You Constantly Drain Your Deposit in Pocket Option?

Many beginners and even some experienced traders often face the fact that all their trades at binary options trading close at a loss. In such cases, usually even knowledge of the basics of technical analysis, the use of seemingly working strategies, and so on, do not give any result. For an example, we can take a standard view of a broker’s chart Pocket Optionwhere a conditional trader, as on the screenshot, draws tentative areas of support and resistance and waits for a specific price reversal point. The arrows on the screenshot show that even though there was a small correction, the trend was going down.

And here the beginner does not understand why the price broke through the lower level, for what reason it happens. It would seem that you have calculated everything, entered the deal, but it did not close in the plus, because the trend broke through the support or resistance area and went the other way. This question is asked by every beginner and many of them lose their hands, as all their knowledge, gathered while studying binary options trading, actually does not work when trading at the Forex market. broker on a real account.

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Reasons of deposit drain on Pocket Option

One of the main reasons why many newbies can’t trade successfully on the site pocketoption.com – is the wrong choice of timeframe. Usually everyone wants a quick result and chooses the expiry time of 1 minute, 30 seconds, 15, and some even 5.

Many professional traders do not recommend trading with a timeframe below 1 minute, the minimum time is preferably from 2 minutes. An illustrative example can be seen in the following screenshot, where a chart with a price change timeframe of 1 minute is selected. The picture shows that the candle is fading and the trend is clearly going to reverse, so it happens in the first minute, but then goes down, which at the conclusion of the deal less than 1 minute would lead to a loss, and if you choose the expiration of at least 2 minutes would lead to closing the deal in the plus.

If you choose a time of 2-3 minutes per trade, the beginner will not often lose and the percentage of successful trades is guaranteed to increase. The most important thing for any beginner is the correct analysis of price movement on the chart. It is recommended to choose 1 minute timeframe in the terminal to reduce the noise level as much as possible, as, for example, when choosing 5 seconds timeframe, where in our opinion it is very difficult, if not impossible, to analyze the chart.

Examples of getting into a deal

In addition to technical analysis of price movement, it is strongly recommended to use multiframe analysis, choosing different timings of price changes on the chart, which will give a more objective situation on trends. When making a deal, every beginner often makes the same mistake, entering a deal on the first candle of a new trend, as on the screenshot arrow with the number 1, you should always wait for a candle of confirmation of the trend movement (arrow 2):

For the second example, we found a suitable chart and waited until the second candle appeared and immediately entered a trade on the downside for 2 minutes, which allowed us to close it positively. On the next chart, to get a more global picture, we use the M30 timeframe, which gives us the concept of a trend upward, the corrections are minimal, which allows us to enter a trade to increase the price and successfully close it:

Always look at the movement of the trend, if it goes up, then the deal is made accordingly, never bet against the trend. This is also one of the reasons why beginners go into the minus massively. Many novice traders make the mistake of making large amounts of money quickly by betting 20, 30 or half of their deposit at once.

To avoid resentment and anger from another failure, use a strategy of moderate trading, using per transaction an amount of no more than 2% of the account balance. In this case, you will have more chances to try your hand at analyzing on another chart and you will not be downhearted with every failure. Of course, no indicator, no strategy will give 100% guarantee that all your trades will close positively, but using the knowledge gained, applying the ability to build entry points, drawing levels and knowing the direction of the trend, the chance of successful binary options trading increases many times.