Learning to take profits as a trader is one of the most important tasks that traders face (the other is learning to limit risk). In this video, Gail Mercer, founder of TradersHelpDesk, shows you how she decides whether to remain or take profits on a binary options trade.
Learning to Take Profits — Its Your Job
Basically, a trader has to learn to limit risk (using money management guidelines) and to take profits. While it is very easy to focus on the maximum payout, the market does not always offer you the full payout. This is why it is important to learn to read your charts and, if the analysis shows that it’s time to take profits, you listen and take profits.
In addition to Gail’s books on Nadex Binary Options, TradersHelpDesk also offers individual indicators for Multicharts, TradeStation and NinjaTrader, binary signals, and special trading packages including the Diamond Package, which includes ten hours of personal mentoring with Gail.