IQ Option Tournaments’s Prize pools for Binary Trader

The IQ Option tournaments have been created to last for only thirty minutes. Once the challenge is accepted by a trader, they pay the entry fees and the competitors are credited with a virtual starting balance of $10,000 each. The competitors trade with this amount until the end of the tournament. The winner is determined by the trader with the highest trading balance.

The rules for tournaments are flexible, some tournaments allow a trader who loses the initial virtual starting balance of $10,000 to enter again by paying the entrance fees, and they are then allowed to begin afresh with a new virtual balance of $10,000.

You should try out one of these tournaments, it is very exciting and there are good chances of winning prizes far higher than the entrance fees.

Tournament’s Detail

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Strategies for IQ Option Tournaments Success

Before you enter into a tournament, it is best to prepare a strategy that will help you trade with your allocated virtual balance to grow it quickly. The following tips will be useful when you start planning your strategy to win a tournament-

• Aim for the win – Partaking in a tournament will definitely earn you a prize if you grow your balance to fall within the highest thirty winners. It might be not hard to settle for any prize that you will get as long as you fall among the first thirty but it can be better. As long as you have entered into the winning thirty mark keep pushing your trades as high as you can. The thrill is in the competition for the first position. No matter where you end up always try harder during the next tournament.
• Start your trades carefully –Always take your time to study the trading pattern of your competitors first before you start actually trading. This way, you will be able to observe the nature of approach they have decided to use during that particular tournament. This trend will ultimately determine how you will perform your own trading as well. While you are at it, watch out for those traders that will try to create a huge gap between their marks and the others. Always strive to bridge this gap while the tournament proceeds. You will have a winning advantage if you can read the competition when the game has just started.
• Be flexible in your strategy to win the tournament – As the tournament progresses, you will understand the game plan of the other competitors. This is good news. By observing your current position on the leaderboard you should be able to know if your trade moves should be intensified or relaxed a little bit. After a careful observation, you should take advantage of any opportunity to create a gap between you and the other competitors, if this can be maintained for long you will eventually emerge the winner.
• Watch the timer and plan your winning move – As the tournament progresses, you should ensure that no competitor has gone farther ahead in their trade volume than you. Bridging this gap is important. It is important to keep trading until the countdown ends, the final moments can be very important to consolidating your position on the leaderboard. It can work in two ways, if you are at the top of the leaderboard and the countdown is almost up then you should use all the available tricks in the book to stay ahead of the other competitors. If you find yourself at the bottom of the leaderboard and the timer is almost up, there is still a ray of hope. You can throw in your best and biggest trade- this is usually a gamble. This way if it actually pulls through for you, your position will be among the top winners.
• Pay close attention – Winning or losing is part of the tournament. What matters is that you always observe the moves and mistakes that are made and what you can do to improve your trade.