Know Yourself And Know The Market & the HALO Binary Options System

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The Halo Effect: 10 Tricks To Successfully Manage It

The Halo Effect is a phenomenon to which we attribute personality characteristics based solely on the attractiveness of the person. In other words, the handsome man will be considered nicer or more intelligent.

It’s a phenomenon that occurs without you realizing it, and it can have a significant affect in society; from the partner you chose, to your schooling, marketing, and even judicial processes.

Do you think you’re able to avoid the Halo Effect? Do you think you’re totally free in your judgements? Neuropsychologist Cristina Martinez de Toda invites you to reflect in this article.

What is the Halo Effect? In order to understand the Halo Effect, you could think about it like a shortcut that parts of your brain use to judge a person. You evaluate and judge a person or product based off one quality or attribute, and extrapolate the rest of their personal characteristics from the one quality. This often times has no relation to the reality of the person or product’s true characteristics.

Knowing and understanding this psychological phenomenon will help us as humans be freer and more exact in our judgement, and help us shy away from cognitive biases.

The Halo Effect was first defined by Thorndike in the 1920s. Thorndike coined this term after conducting various experiments with the Army.

The phenomenon doesn’t happen because we are stupid or gullible, it happens because the brain tries to save energy by simplifying perceptive processes. This shortcut can be helpful in some cases, and can make us cause some significant judgement in many other cases, as is with the Halo Effect.

“You never get a second chance to make a first impression” -Oscar Wilde

Table of Contents

Examples of the Halo Effect

The Halo Effect could have a devastating effect on the first impressions or expectations that we have of other people.

An recent example of the Halo Effect happened when the singer Susan Boyle appeared on the TV show Britain’s Got Talent.

If you’ve already seen the video, think about the first impression that she gave you.

If you haven’t seen it yet, Put your Halo Effect resistance to the test.

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Susan didn’t initially catch the audience’s eye when she walked on stage. She didn’t come off as the typical beautiful, charismatic, and confident singer, but when she opened her mouth to sing, everyone was amazed.
Both the audience and the judges had made up their mind about Susan from the moment she walked on stage. No one was expecting her to be talented, but she ended up leaving thousands of people in awe after her performance. For Martinez de Toda, this is the best example that sums up the Hale Effect, and how it effects us as humans.

What did you think when Susan Boyle first walked on stage? Were you able to look past her physical aspect, or did yo get by without judging her at all?

The Halo Effect and Marketing

The Halo Effect isn’t only limited to people- it can also be applied to “necessary” objects. This is why so many brands hope to find a celebrity to advertise and where/use their products. Have you ever wondered why George Clooney is selling a coffee maker, or why Eva Longoria is in cosmetic advertisements? Well, the company’s team of publicists, psychologists, and marketing now how to make the Halo Effect work for them.

Choosing an attractive, charismatic, and kind person is a safe bet for marketing companies who know that many people will go buy the coffee maker that George Clooney is selling.

The Halo Effect in job interviews

The Halo Effect plays a huge role in job interviews. You’ve probably heard of the typical horror story of someone who didn’t get the job because they spilled coffee on themselves on the way to the interview and showed up with a coffee stained blouse. The reverse also happens. How did that guy from your class get the job if he hardly made it through school? Many traditionally attractive people have gotten jobs that they may not be qualified for because of their looks.

Below you will see how to make the Halo Effect work to your benefit in a job interview.

Devil Effect or Reverse Halo Effect

What is the Devil Effect? There is no light without dark. Unlike the Halo Effect that gives a positive feeling or judgement, the Devil Effect is when, due to a single characteristic or quality, a person or objects is judged negatively, and negative attributes or characteristics are assumed.

The Devil Effect has a significant impact on politics as well. When you’ve formed a negative opinion on a specific politician, it’s harder to accept the benefits or positive things that they may have done.

Recommendations to keep yourself from being manipulated by the Halo Effect

1. Be conscious of your judgement

The first step to putting a stop to the Halo Effect is to be conscious of when you’re wrongfully judging someone, but the problem with the Halo Effect is that we’re rarely aware that it’s happening. If you can learn how to make an educated judgement of a person or object without letting your own brain manipulate you, you’ll be able to make more accurate judgement.

Example of the Halo Effect: When you see an overweight person, you might also automatically attribute them with other negative characteristics. “How could you get that big?” “They must be lazy”… It’s ugly and you don’t necessarily do it on purpose, but you making suppositions based off of a primary glance of someone is what the Halo Effect is capable of doing.

2. Give your first impressions a second chance

It’s almost impossible to keep yourself from making a first impression of a someone you’ve just met, but try to be critical of the first impression that you get. Try to back up your feelings toward someone with a real data. If you have a hard time finding a reason why you like or dislike someone, give them a second chance.

3. You’re also prejudged. Reflect

If you’re lucky, you also produce the Halo Effect. If you’re not so lucky, you might fall victim to the Devil Effect. Take some time to reflect on the image that you project, because it’s easier to see the fault in others before you see your own faults.

Example of the Halo Effect: Ask someone you know well what their first impression of you was, and reflect on their response.

4. Take care of yourself

Leaving weight, looks, height, etc. aside, it’s important to help create a positive Halo Effect by having healthy personal hygiene. Greasy hair, bad body odor, and dirty nails are certainly not going to help you make a good first impression.

It probably sounds obvious, but you’ll be surprised at how many people are able to go to a job interview with a dirty shirt or greasy hair.

5. Smiling boots the Halo Effect

A smile projects kindness, empathy, and sympathy. Studies have shown that when you smile, you produce a cause-effect phenomenon: The other person smiles too.

You’re likely to like someone who smiles if it’s a real, honest smile. Try to stay away from a Joker-type smile that’s completely forced. It’ll do you more harm than good and you’ll come off as fake and unlikable.

6. Be coherent

Coherence, or being loyal to your morals, code of ethics, likes, and hobbies, is essential for boosting the Halo Effect. You’re coherent when you say what you think and you do what you say you’ll do. If you project an incoherent image, your Halo Effect will be noticeably reduced, because the other person will see a cheater or liar, and you might end up being judged by the Devil Effect.

Example of the Halo Effect: When a politician says in their campaign that the will raise the minimum wage, but when they get to office the wage is reduced, not raised.

7. Be aware of your non-verbal language

More than 70% of what the other person perceives comes from non-verbal language. The way you move, your tone of voice, looking the person in the eyes or shying away, nodding, and other small body language cues give off much more than you might think.

8. Ask yourself questions

Question yourself. Every time you pass a judgement about a person or object, ask yourself honestly if the answer would be different if its image was different.

9. Avoid negative (and positive) generalizations

Don’t let yourself get carried away by other people’s opinions. Ty to only think about the recommendations that come from people who really know what they’re talking about. If they have some kind of authority over a given subject, take their advice into consideration when making a decision. If they don’t know what they’re talking about, don’t take their word as fact.

Example of the Halo Effect: “No one has been talking to that new girl, so why would I?”

10. Learn how to use your intuition well

Finally, the most important thing in life is balance. After reading this article, don’t doubt yourself and your intuitions, because they might be right! Can you imagine the amount of friends you’ve missed out on, of the places you’ve never seen, or the things you haven’t tried, just because of a first impression?

Do you have any questions? Leave me a question below ��

This article was originally written in Spanish by Cristina Martinez de Toda

Molly is a writer specialized in health and psychology. She is passionate about neuroscience and how the brain works, and is constantly looking for new content from interesting sources. Molly is happy to give or take advice, and is always working to educate and inspire.

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What are Binary Options? – Honest Review

Binary Options is a financial instrument to trade on long or short markets in a certain period of time. The Trader only got 2 options: Win a high amount of money (75% – 95%) or lose the investment amount for this trade. It is like betting on rising or falling markets. Binary Options are very flexible. It is possible to trade any financial market and use different time horizons (starting from 30 seconds).

  • Call (Higher): Make a forecast for rising markets
  • Put (Lower): Make a forecast for falling markets

Make a forecast for the future price direction

In this article, I will show you exactly what are Binary Options and how do they work. Knowledge is the key to success. Read about the risk and the opportunities to make money in the following text.

Where to trade Binary Options in 2020?

In the next steps, I will show you how Binary Options (Wikipedia article) work. You will understand it in a few moments. But first of all, where to trade Binary Options?

You will need a Binary Options Broker (see the table below). I searched after the safest companies which give the highest return for traders. There are different companies around the world who provide this financial service. You can open a free demo account. This is an account with virtual money so you can learn how to trade without risk.

First steps:

  • You need a company (broker) which provides the financial service (Binary Options)
  • Open a free demo account with virtual money (Virtual trading without risk)

Best Platform
Highest Yield
Best Support

Broker: Review: Regulation: Yield: Advantages: Open Account:
1. IQ Option (5 / 5)
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CySEC (EU) 100%+
2. Olymp Trade (4.8 / 5)
Read Review IFC 92%+

Huge diversity
High Yield 92%
Bonus Program 3. Expert Option (4.8 / 5)
Read Review VFSC, FMRRC 90%+

Good Platform
Account Types
Good Education

Is Binary Options Trading safe or not?

Safety is the most important point in online investing. You should choose a good and reliable broker which is safe. I recommend using a regulated company for your investments. Have a look on my full Binary Options Broker Review to find the best one. There are regulated and unregulated companies for trading. It always depends on the broker to trade safely Binary Options.

I did a lot of research and clearly, I can say that a regulated broker does not cheat to its clients. Normally unregulated brokers do not cheat too. But it is not 100% safe because sometimes these are small and unknown companies.

It is safer to trade with a regulated broker than with an unregulated one.

In conclusion, you should use a regulated broker for trade Binary Options safely. It always depends on the Broker if it is safe or not. Do the research by yourself and read my review about the broker on this website.

Example of regulation or license

Safe and well-known regulators are:

What you really need to know about online platforms:

There is a huge diversity of Binary Options Platforms and you have to check out what is your personal favorite. Nowadays developed software is very flexible and available for any device. It is possible to trade with the computer (browser and desktop), smartphone and tablet. That means you can trade from everywhere around the world if you got access to the internet.

Especially for a beginner sometimes it is hard to learn to trade with a new platform. There are a bunch of options which can confuse you. Most brokers will give you education material like video tutorials or step to step guides. Also, you can ask the support for help by phone, chat or email.

A platform for any device

Flexibility and charting are provided by the platform. You can do a personal chart analysis with indicators, technical tools, and different chart types. Sometimes you will get access to economic news directly in the platform. Indicators are known for giving you feedback on the market price at the moment. They are customizable like you want. So it is possible to analyze different timeframes.

Mobile Trading:

Today Mobile Trading is one of the most important factors for trade successfully. It is a great opportunity to boost your profit. In the past traders could not trade online or via mobile phone. So the options were much lower for making a profit. Apps are available for Android and iOS users or any other device. Check out your trading account 24 hours per day via your mobile phone.

Computer Trading:

In my opinion, it is better to use the web-based platform with your computer for analysis. Often there are a lot more functions than in the app. Furthermore, you can see the chart more detailed and a higher range of it. Professional analysis can be made by using a computer.

Binary Trading Tutorial | Step by Step Guide

As a trader, you can choose between a lot of different assets on a Binary Options Platform. You can trade Forex, Stocks, Commodities, Cryptocurrencies and more. This trading tutorial will show you how it exactly works to trade the financial product. The process is always the same as you see in the video and picture below. Just practice it in a free Demo Account.

Learn how to trade successfully

Now you have to imagine and predict the asset price direction for the future (forecast):

You can use the specially programmed trading platform of a Binary Options broker to analyze the charts and get trading ideas. It is very important to have a good working strategy for maximum profit. Beginners should use technical analysis for trading the chart. On the broker platform, you can learn more about it in different education videos/centers.

Therefore every Binary Option expires after a specified time. You can use the time horizon between 30 seconds or 5 months or more. Sometimes it depends on the broker. As you see you can trade short-term or longterm Binary Options.

After you have decided on the direction and the expiry time for your trade you can “sign” the contract with your broker. Just click the call or the put button. On some platforms, you have to confirm the trade.

  • Call (Higher): The price will go up in your expiration time
  • Put (Lower): The price will go down in your expiration time

If you are right in your decision, the broker will pay you a high asset profit of 75-95%. The trade automatically closes after the expiry time. Sometimes the broker allows you to close the trade before the expiry time ends. That is a way to reduce the impact of a wrong decision.

That means if you invest the amount of 100$, you can earn the amount of 195$ on a certain time horizon. 100$ is the return of your investment and 95$ is the profit.

Binary Options Platform Tutorial for beginners

  1. Search for an asset with a high profit. If you trade the assets with the highest yields in conclusion from my experience the result will be much better in the end. Some Binary Brokers offer you different account types with different asset profit.
  2. Analyze the chart on the platform. You can choose different time frames, indicators or financial news for your strategy. Every Binary Broker offers you some educations, too. Learn in webinars, videos or coaching the best strategies of the world.
  3. Now you should select the expiration time of your Binary Option. There a lot of possibilities for your trade. Some traders like it to trade short-term options and some other traders like it to trade longterm options.
  4. Choose an amount you want to invest in your trade. The most time it starts at 1$.
  5. At latest trade the Binary Option with a call or put. There are only 2 options in the market, that’s why it is called “binary”. In the end, you earn a high yield or you lose your selected amount.

What are the conditions Binary Options Trading?

You can trade any asset with Binary Options. It can be stocks, commodities, forex or cryptocurrencies! Most brokers give the option to trade more than 100 different assets. The expiration time depends on your broker. Some companies provide Binary Options with a time horizon of 30 seconds or less. These days you get a lot of different options on every broker.

Conditions:

  • Trade stocks, forex, commodities, cryptocurrencies, and more markets
  • Choose between a diversity of time horizons (short-term – longterm)

Yield – The return of investment can be high as 95%+

As the time horizons, the yield (return of investment and profit) depends on the broker. Often there is a possibility to get a high payout of more than 90% of your investment but there is no rule for the value of the yields. Sometimes short-term trades got the highest payout and sometimes long-term trades got the highest payout. In comparison to my experience, the yield is between 70% and 95% for standard accounts.

Another way to boost the yield is to get a VIP account type. Most of the brokers offer different account types, which are linked to the deposit amount. For example, you will get a VIP account if you deposit more than 3000$ on IQ Option. Not every broker got the offer of account types but you should search for it if you plan to invest a high amount of money.

Are Binary Options risky or not?

Binary Options are risky to trade, but there are advantages why the risk is less than trading other financial products. Especially new traders fear the loss of a high amount of money. With binary trading, you can only lose your bet amount. Traders clearly see what they can lose in a trade. Compared to other trading instruments this is a big advantage because the risk is limited always.

Another advantage is that you get a high asset payoff no matter how much the market moves. The asset price just has to be above or under the entry point. Traders like this financial product because it is so easy to understand and to calculate the risk and the trade profit.

Only invest the money which you can afford to lose in the worst case.

Binary Options Demo Account – Yes or no?

It is very important for beginners and new traders to practice the Binary Options Trading. Most brokers give you a free demo account. It is an account with free virtual money. You can always recharge the account with one click. It is risk-free trading.

Every trader should learn more about the trading platform before he is going to invest real money. Also, you can learn new strategies or try out different methods on the market. First, develop your own strategy with virtual money.

Most brokers offer a free demo account.

Opening your first real account

For trading with real money, you have to fulfill different criteria. On most brokers, you can trade and deposit without verification of your account. In my opinion, every trader should verify his account before deposit money. This can prevent annoying errors and waiting times. For a full verification, you need to complete the account setup.

Sign in with your real personal data. That includes full name, birthday, real address, email, and your phone number. After that, sometimes you have to upload the required documents for the broker. The company checks if you are a real person. Upload a picture/copy of your Passport. Sometimes they require a utility bill too. In most cases, the verification only takes 24 hours or less. With some companies, you do not need this verification process.

How much money do I need for Binary Options Trading?

You can start trading with a very low amount of money. Especially on IQ Option, you can open a live account with a 10$ deposit. The minimum trade amount is 1$. The upper limit is open for your trades. Have a look at my reviews to find a broker which fulfill your requirements

From my experiences as a trader, it is possible to make a huge amount of money with the right strategy. Binary Options are the tool for trading with a small or big amount of money.

Facts about the deposit:

  • Start with only 10$ in your account
  • Trade with 1$ per trade
  • You can easily trade with high amounts too
  • The minimum deposit depends on the Binary Options Broker

Easy deposit and withdrawal

As mentioned before the deposit is easy as the withdrawal of profits. On most brokers, there are not any fees for deposit and withdrawal money. For payments, you can use more than 20 different methods. It is possible to capitalize on the trading account in a few seconds. In most cases the payout takes the time of 24 hours depends on your broker.

Payment methods are depending on the broker:

  • Bankwire
  • Credit Cards (Master/VISA)
  • Cryptocurrencies
  • E-Wallets: Skrill, Neteller, FasaPay, ePayments, Yandex, and more

Get a free Bonus for your deposit

The most brokers offer a free bonus for your deposit or risk-free trades. The bonus amount depends on the deposit amount. It can be a 20%,30%,50% or 100% bonus. In other words, they give you a higher bonus for a higher deposit. Furthermore, some brokers allow trading risk-free trades. If you lose a trade, the broker pays back the lost money in the form of a bonus.

The bonus is not completely free. Sometimes traders have to trade a high turnover of the bonus. For example, make a turnover of 30x of the bonus to get the bonus withdrawn. If you are not satisfied with the conditions in most cases you can deactivate the bonus. A bonus is a good opportunity to grow a bigger account and trade with more money.

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Can you really make money with trading Binary Options?

The key to your success is to get a good education and find a professional strategy. In addition, you have to control the risk with sensible money management. In this article, I showed you an insight into profitable trading with Binary Options.

It is easy to make money with Binary Options but you have to be prepared. The markets are not easy to trade for beginners and it takes time to trade profitably. You will not see success directly. From my experience educated traders do not blow up the account. They earn money constantly. Read through my other pages to get deeper knowledge.

  • Education: This is the most important point for beginners. You should be prepared for the markets and know how the financial product works. There are different tutorials on the broker webpage or on my website to learn the functions. In addition, it should be easy for you to use the trading platform of your broker. Just practice in the demo account until you feel comfortable. Moreover, most brokers offer deeper knowledge. There are webinars, coachings, and tutorials. Education and knowledge is the key to making money with Binary Options.
  • Strategy: Develop or learn a professional strategy for trading. You have to know what you are doing in the market. It is like a system for you which always have to repeat. Without a proper strategy, you will blow up your account. There are different ways to learn a strategy. Use the knowledge of a broker or my website.
  • Money Management: most traders fail to control the risk. In my opinion, money management should be sensitive by using 0,5 – 3% of the account balance per trade. Sometime a losing streak will occur. By using sensitive money management you can trade without emotions and you can trade enough trades without running out of money.

In conclusion, you can really make money with trading Binary Options but you have to learn and invest your time in the right knowledge. The demo account is the best way to practice before you start investing real money.

Are Binary Options legit or not? – My scam review

In my opinion, Binary Options are not a scam for your money. The financial product gives you the possibility to invest in short or longterm opportunities in the market. Binary Options are so popular because they are so easy to understand and you can make a lot of money in a short time.

It is very important to choose a good broker. Some small brokers are scamming users, that’s why a lot of people think Binary Options are a scam. Definitely, it is not a scam if you trade with a safe company.

Basic trading checklist for beginners:

  • Choose an asset you want
  • Forecast the price movement
  • Choose a variable expiry time of the trade
  • Bet an amount starting 1$
  • Trade a call (long) or a put (short) option
  • Get profit
  • Payout the profit

On this site, I have shown you how the financial product is working. I think you can easily understand it now and start trading with more security. On my other sites, you can learn more about Binary Options. Happy trading.

How to avoid scams as beginner

The problem of Binary Options is that they are not a scam, but some brokers or financial educators are scammers. Every time before you start investing real money you should do a sort of research. You should pay attention to real reviews or advice from professional traders.

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