How to Write a Great Binary Trading Blog
One valuable tool which you can use to keep track of your binary trading decisions and outcomes and also plan for the future is a trading blog. A trading blog is basically the same thing as a trading journal, except that you are keeping it in the public eye. Some trading blogs become very popular resources for traders who are learning or teaching. So writing a trading blog is in essence also a community service. Not only are you helping yourself, but you are helping others by making your experiences public and sharing your learning process. A trading blog also gives you the additional accountability which comes with public exposure. So how do you write a good one?
- Detail, detail, detail.
A great binary options trading blog will never skimp on the details. It should not simply record “win, win, loss, loss, win, win, win, win, loss.” The records on trades and tests should include a lot of information about trade setups, reasons for entry, whether or not trades were closed out early, what the expiry times were, and so on. They should include enough detail that you and your readers can easily analyze your trades and draw conclusions.
- Include charts.
Visual information can be very helpful on a trading blog, especially when you are making entries about technical analysis or price action or anything else which pertains directly to trading techniques. Charts also are an automatic sign to others that you are taking your trading seriously, and that you are not just another wannabe trader who is placing your trades based off of your whims. Your charts also add a splash of color to your blog, and make it more friendly and inviting. You can use charts to break up large blocks of text, increasing readability of your entries.
- Your blog should include some psychological self-analysis.
The best trading blogs cover more topics than simply technique. They also go in-depth into trader psychology, and discuss a trader’s personal progress or regress. They are honest and humble, laying bare the trader’s mistakes for all to see. While this may sound unpleasant, it is a great way to cultivate humility if you do not already have it. When you are able to sacrifice your pride, it will be replaced by clarity and the ability to learn and change and grow. Pride keeps you set in your ways. Honesty and humility keep you flexible and allow you to get better at trading.
This also sets a great example to other traders who read your blog. Traders who see you having the courage to really put yourself out there and be honest may find the same courage. Trading mentors may also see you as a great example and choose to share your blog on their site with their own readers. This is a wonderful way to build connections to other traders who can help you to become better at what you do.
Your trading blog is also a great place to talk about setting goals and striving for success in all areas of life. Never underestimate the importance of these self-help style entries. They may not be the meat of your blog if you are posting about your trade setups each day, but they can really help your readers. As you probably realize from your own experiences, a lot of the time you spend thinking about trading has more to do with the nature of striving toward a goal than it has to do with indicators and statistics.
- Your blog should not be overly promotional.
There is nothing wrong with promoting systems and programs which have helped you as a binary options trader. In fact, this is a wonderful way to steer other traders onto the right track and help them to find valuable services which are worth their money. It is a good idea however not to make this the main focus of your blog, and to keep your promotional content to a minimum. Traders are not coming to your blog to get a hard-sell on something that has impressed you, though many will appreciate the referrals to services that they can use.
Keep promotions in perspective, and provide honest, thorough reviews of the products you have tried. On the same token, link out to other bloggers and websites regularly, but always provide a great context for the links you are sharing so that your readers understand the value in visiting your links. Focus most of your content on your actual trading experiences.
- Respond to feedback.
If you are fortunate enough to have a lot of readers and commenters on your blog, be an active part of the conversation. When someone leaves you a comment, take the time to approve it and respond to it personally. You will likely receive feedback on your trading activities as well as questions about your methods, experiences, and more. Other traders may want you to take a look at what they are doing. Much of the advice you receive will be invaluable. And the advice you can provide may also be priceless to others, and cement your reputation as a member of the binary options community.
If you need some inspiration, just have a look at other trading blogs online for binary options traders as well as stock traders, Forex traders, and others. The vast majority of the blogs you see will lack detail and consistency. But now and again you will find a gem that provides detailed, honest information on a regular basis, and which opens up the platform for conversation in the community. Follow the same guidelines with your own trading blog, and you will find success in both trading and blogging.
Don’t forget to set SMART goals when you are trading binary options!
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