Binomist’s kit: ambitions, global wallet, and following the trends

What distinguishes a regular trader from a Binomist? Is it the time they spend in the trade room? Or the platform they trade on? Or maybe their talent to outpace the others and always be up-to-date with new technology? The answer is — all of the above and a few more items on the list. 

Here’s a checklist with everything that makes a trader a true Binomist. See which qualities you already have and where there is potential for your growth. 

1. Ambition, time, and patience

Ambition, time, and patience are 3 loyal companions who follow a Binomist’s throughout a trading day and help them along the way. Binomists know that greater achievements come with time and never forget to practice, polish their trading skills, and learn new things. 

2. Device with a stable connection

Computer, a tablet, or a smartphone — Binomists don’t limit themselves, they choose what suits their needs best. You can trade from all 3 or stick to your smartphone. Just make sure your internet connection keeps up with the speed of your trading decisions. 

3. Reliable platform 

A reliable trading platform is what makes all the items in Binomist’s checklist work well together. Every new trader’s first and most important step is picking a trading platform. A good trading platform doesn’t distract you, simplifies learning difficult things, and supports you in your trading journey.  

4. Verified trading account

6 simple ways to cut down traffic expenses in major cities

It’s a lot easier to trade when your account is verified, and no fraudsters can access it. Verification takes up 10 minutes of your time and then every day saves your energy and patience when it comes to trading, deposits, and withdrawals. In Binomist’s rulebook, a verified trading account is a must for stable and prolonged progress. 

5. Payment wallet: local and global

Experts recommend traders to have 1 local payment method for deposits and withdrawals and 1-2 backup ones. And Binomists value their time and know that new technology helps save it. That’s why they usually choose crypto wallets as their global payment methods. Not only do the crypto methods meet their safety standard, but it’s also the reliability, low fees, and speed of cryptocurrency transactions that Binomists rely on. 

What are the other advantages of crypto wallets? 

• Safety. All the transactions in a cryptocurrency world are securely encrypted and based on the blockchain. An owner must use a unique key to send or receive funds, and fraudsters cannot obtain that key.
• Reliability. Cryptocurrencies are out of the traditional finance system and therefore exposed to inflation lesser than any currency. If you store a part of your savings in crypto — you’re protected from any market crisis. 
• Simplicity. Crypto transactions are swift and simple. You scan the QR code, and your deposit will be credited to the account in about 15 minutes. 

Nowadays, traders are the ones who set the trends, and Binomists never lag behind. That’s partly the reason why crypto methods become more and more popular all over the world and require small or no fees at all. 

6. Knowledge

For a Binomist, knowledge is a broader concept than trading expertise, strategies, or instruments. It also relates to knowing when to take a break and how to control risks and emotions. You may not notice it, but your knowledge expands every time you learn even the smallest piece of information, so each day, you step by step become a Binomist.

7. Experience

Experience comes with practice. It grows when you trade, follow financial news, read articles, talk about trading, and try new strategies. When you check a checklist of Binomist’s qualities and cross more and more items out of it — it means your expertise and trading confidence don’t stand still and expand. 

And don’t forget about the Binomist’s main quality that connects all 7 items in the checklist: 

Responsibility 

5 best financial board games ever

Binomists approach trading responsibly. They review possible risks, calculate potential profits, and think out their actions before starting trading. If you know that responsibility is key to a successful trading future, then you have the must-have skill of a Binomist. 

Being a successful trader, a Binomist, is a challenging but fascinating adventure. However, sometimes we get so busy and forget to celebrate our achievements. To control your progress, we recommend saving this checklist in your bookmarks and getting back to it in a few months to see how much you’ve grown and find new impulses for development.