Four Types of Traders that You’ll Find on IQ Option

On IQ Option there are two types of traders. The first one is those who make money and the second, is who don’t. Those who don’t make any profit in trading will wonder why their trades always go wrong.

So, what are the reasons? Are they using the wrong strategies? Is the system rigged? How can they make money? These are the question that they have in their mind.

The truth is, there are many different reasons why you aren’t making money trading on IQ Option.
But the main reason revolves around the type of trader you are.

In this guide, I’ll look at 4 types of traders that you’ll find on the IQ Option platform.

4 types of traders that you’ll find on IQ Option

Traders who know nothing about trading

Many people start trading to make quick money. They probably have read somewhere or heard that online trading is an easy way to make quick money. The fascination of depositing just $10 and turning it into hundreds is good to pass up.

Such traders think to try out the IQ Option demo first. After getting knowledge and making a few successful trades they think that they are fully qualified and can make every trade successful to make money.

The truth is trading is not as simple as depositing money and clicking on the higher or lower button on the IQ Option trading interface.

Understanding how the platform works constitutes a small part of trading. It is important for you to learn, how to read IQ option price charts, using indicators and different trading strategies. Also, you need to pick a good money management strategy. And most importantly you need to keep your emotions under control.

And it is important to have this knowledge before making your first trade with real money.

Traders that know too much

There are traders who don’t know anything about trading and traders who know too much. These traders are always looking for new strategies and techniques to adopt.

What these traders do is spent their time online on trading forums and groups. this kind of trader invests money on other traders as well in exchange for trading signals as they do not trust a single trading strategy to make money.

The problem with this kind of trader is that they only focus on the techniques instead of trading. They might get a few successful trades on the IQ Option platform, but the chances of losing their trades are high.

The emotional trader

There are emotional traders who usually make quick money. This type of trader learns about options trading from a successful trader. They know that there is money to make

These traders do research and learn how to trade and even open their trading accounts. Originally, this type of trader has a strategy and a plan to make money. But their goal is to make a huge amount of money fast.

So, for making big money they ignore their trading plan and decide to take huge risks. Some of the trades are winners but the majority of losing money is high.

Another type of emotional trader is the one who is too afraid to lose money. The probability for this trader to lose money is very high.

In many cases, it is not the wrong strategy that they are using but the timing for using the strategy is wrong.

Emotional traders always carry a well-thought trading plan before hitting the markets. There are results that can be harmful in many cases as traders do not trade with a rational mind. If you notice that emotions are taking control over you, I will suggest stopping trading immediately and starting only when your mind is clear.

Traders that are making money

This type of trader starts trading when they know nothing at all about it, they learn how to trade and even trade based on emotions. In this case, the chance of losing a huge amount of money on the IQ Option platform is very high.

Traders who make money on IQ Option follow their personalized trading plans. These plans develop after months of trading, analysing the results of what is working and what is not. They have learned how to control emotions and practice good techniques to secure their account balance.

These types of traders know how to make money on IQ Options, they earn small profits which add up and make a large amount. They make money in a consistent way that plays a huge role in their success. They know at what time they have to trade and a specific asset to trade. They study markets very minutely and grab the right opportunity to trade.

What type of trader are you?

Becoming a successful trader instantly is not possible. There are many successful traders who have lost money in the market due to emotional trading and lack of knowledge in the market or too much knowledge of the market.

Patience and practice are very important to be a successful trader. If you are a beginner and know nothing about trading, take your time to study and then use the knowledge to identify the market that’s working for you and what is not. Learn to control your emotions. Eventually, you will find trading fun and easy.

Good luck!