About Steven

"By [Steven Harcourt]" Steven has worked as a private trader for over 15 years and has developed a number of online training programs for traders with a focus on identifying strategies to maximize returns on leveraged products. Stephen is the author of the best-selling book 'The Definitive Guide to Trading Binary Options'.

Can You Learn to Love Your Losses?

Stanley Kubrick’s movie comedy Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb was released in 1964 at a time when nuclear war was a real possibility and reason for worry. In the movie a nuclear war ultimately could not be avoided.  Fortunately, in reality, such a catastrophe has been avoided. We won’t go into the movie’s plot as it has far too many twists and turns but it contained a few strong messages. The most obvious was that people in authority, although powerful, are still human and are therefore fallible and subject to irrational behaviour. … Continue reading

Thinking of Using a Martingale Strategy?

In a previous post I wrote about a so-called trading strategy that is presented to traders in Binary Options as a virtually sure way to win. Click here to view that post. In fact, as we showed, it was nothing of the sort and actually amounted to a virtually sure way to lose your whole fund. What’s wrong with using Martingale? The main problems were that there was no actual market analysis included and it was really just a Martingale betting strategy dressed up a bit. According to Wikipedia, because it is very easy to learn and the maths appear … Continue reading

When is a Strategy not a Trading Strategy?

Probably the greatest benefit of Binary Options for a new trader is that they are just so easy to understand. There’s no need to set targets or stop losses, no need to calculate risk to reward ratios. You either win or you lose and you know your risk in advance. It’s easy to open an account with a small fund, it’s even easier to open a trade and there’s virtually no need to manage the trade once it’s opened. And therein lies one of the greatest problems. It’s so easy to trade that it can appear as though the main … Continue reading