Brazil is the birthplace of many “great masters” in options trading. When the rankings announce traders who are profitable on IQ Option every month, most of the top ones come from the land of the “Samba” dance. From there, it can be seen that their level of options trading has reached the “upper level”. In this article, I will show 4 option trading tips from professional traders in Brazil.
When you have real combat experience for a long time enough, the secrets of victory will be formed from the trading process. Options trading is a popular money-making sport in Brazil. They have very effective money-making tips in IQ Option that are worth learning. It can help you to increase your odds of winning most effectively.
4 Option trading tips from pro traders in Brazil
Choose Japanese candlestick patterns that match the trend
There are many different types of Japanese candlestick patterns that are widely shared online. They are usually copied from one website to another. Therefore, it forms variations that are not identical to its initial original. It is a double-edged sword, but it hurts its users more than it helps them make profits from brokers.
For traders from Brazil, they don’t learn many different Japanese candlestick patterns. Instead, they only learn the basic, most effective, and often the most accurate signals to apply in Options trading. Here are 6 patterns that most commonly used by Brazilian traders:
The three strongest reversal candlestick signals from UP to DOWN:
- Shooting Star candlestick (1 candlestick)
- Bearish Engulfing candlestick pattern (2 candlesticks)
- Evening Star candlestick pattern (3 candlesticks)
The three strongest reversal candlestick signals from DOWN to UP
- Hammer candlestick (1 candlestick)
- Bullish Engulfing candlestick pattern (2 candlesticks)
- Morning Star candlestick pattern (3 candlesticks)
Thus, you only need to learn 3 patterns. For the remaining three patterns, you just need to apply them in the reverse direction. You don’t need to learn too much as it can create confusion.
Only with these Japanese candlestick patterns, now you can start making money in IQ Option more easily.
Use the Japanese candlestick pattern at the right level
Once you own the signals (candlestick patterns) with high accuracy, the next important thing you need to pay attention to is the moment to use them.
This is the very basic mistake that most options traders make. As seeing a pattern that is a bit familiar, they then apply it immediately no matter what. That will surely lead to a dead account.
Although the candlestick patterns above are extremely accurate signals, they are not 100% correct. To improve your chances of winning, you need to combine them with levels (support or resistance) to produce as perfect trading orders as possible.
For the above reasons, selecting the price range is very important to achieve winning. It is seen as a vital secret in Options trading that Brazilian traders must focus on. Unfortunately, other investors only focus on Japanese candlestick patterns and ignore important price ranges that need attention. This results in a trading result with a very low win rate that cannot be profitable.
Waiting patiently is the secret to success in options trading
This is the biggest downside of most options traders around the world. They may have an excellent trading strategy and a very good capital management method. However, impatience often causes them to lose everything within a few minutes of neglect.
Market opportunities can emerge so many times a day. However, a truly clear and best opportunity sometimes leaves you waiting a long time. If you are not the most patient then you will be the first to lose money.
Do you believe that Brazilian traders sit around for hours just to open a single order? They expertly train themselves the patience of a wild predator. It is no coincidence that they are called the rivals of options platforms. Patience is the key to success with Options trading.
Use transaction log
This is considered a weakness and shortcoming that every trader says they “forget” when asked. To be successful in any job, you must always explore and improve. It is to make the work more efficient, more accurate, and less time-consuming. Victory comes from the most thoughtful preparation. That is the truth in options trading.
The transaction log will help you achieve all of the above. It records all the mistakes you’ve made so you can come up with a better plan. And it also helps you see and evaluate an overview of which patterns often appear and their exact proportions.
Note down options trading orders to help you gradually eliminate negative signals and extremely bad positions to know where to enter the market and when to stay out.
And the seemingly extremely simple things above are the two most difficult things for Vietnamese traders.
Practicing trading habits will help you create a trading discipline and yield your own unique features in each order. Best of all, it helps your account survive before it becomes profitable. As far as you may know, in this market, capital means everything. If you lose all your capital, you have nothing left.
To sum up
Hopefully, sharing the tips of winning option trading from Brazilian pro traders will somewhat help you to improve your trading process. Thereby, you can also see clearly the shortcomings you are having to gradually improve. From there, aim for quality trades that yield more positive results. I wish you successful transactions.