The Top 10 Questions I Receive about Trading and My Personal Answers to Them

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The Top 10 Questions I Receive about Trading and My Personal Answers to Them

I love it when fellow traders and aspiring traders ask me questions. It’s always nice to receive feedback on my blog material and to hear what others are most curious about or need clarification on with regard to trading. I’ve received a decent amount of private messages here on the website lately, so thank you all for those.

As such, below I have written out and answered the most common questions I receive in no particular order. I figured I would address them in a blog post all on their own, as I believe it could shed light into some other trading-related topics that I don’t normally cover since the bulk of my posts predominantly consider trading strategy, market and technical analysis, and so forth.

What broker do you use?

I currently use TradeRush.com the most frequently. I live in the U.S. and they are USA friendly, which always has to be my first consideration. The withdrawals are quick and the pay-out percentage on the USD/CHF (85%) is about the best of any asset on any offshore broker.

StockPair.net is also a good broker, but I have not used them for about five months now so I can’t comment any further. The withdrawals are quick in my experience, but the main thing I didn’t enjoy was the relatively weak payout percentages on the smaller time expiries. Also, their expiries work a bit differently from other brokers in that your trade will expire relative to when you got into it, instead of a fixed clock interval. What I mean by that is if you take a ten-minute trade at 10:37:19, your trade will expiry at 10:47:19, whereas on other brokers your trade would probably expiry at a regular interval on the clock, such as 10:45:00 or 11:00:00.

I’ve also used MarketsWorld.com, but I haven’t traded with them in a really long time. The pay-outs used to be the best in the offshore business (95% for all assets), but those were tapered down after they had attracted enough business. Later on, they went to a variable-payout system where the payout would adjust according to the volatility and price of the asset; it could be as high as 90%+ or as low as 65%. I don’t enjoy that so I simply decided not to resume trading with them. I also had issues getting into trades at the price I wanted, which led to some trades losing that should have won. But they are well known as having some of the fastest withdrawals out there, although I can’t vouch if that still holds true. But when I did trade there, I would often get my withdrawal the very next day.

I have also heard good things about RedwoodOptions.com, but I haven’t traded with them personally.

If you’re into trading on a U.S.-based exchange, the North American Derivatives Exchange (NADEX) may be something to look into. It is very different from a strike-entry broker, but it can offer you a different form of binary options trading. Some people love NADEX and would never consider returning back to offshore brokers.

In the past, my favorite broker was 24option.com. I always had a good experience with them. I’m not sure if they’ll ever open a U.S. brand although I heard a long time ago it was a consideration. But for now they’re off-limits to U.S. customers.

For those outside the U.S. looking for a regulated exchange to trade binary options in a similar format to NADEX, IG Markets is what you would be looking for.

Do you trade using multiple monitors?

No I don’t. I never have nor do I have any intention of doing so in the future. I’ve always traded using my laptop computer and that’s it. It can be useful to have two monitors – one for your charts and one for your broker. But for me, it takes maybe a second at most to switch from my chart to my Internet browser to click a button in order to get into the trade. I always have the trade set up on my broker far ahead of time, so I’m not spending precious seconds looking for the asset I want to trade, typing in the investment amount, or clicking my intended trade direction. It’s imperative that you always do this ahead of time. You don’t want to waste time and get in at a price you don’t want. I’m a stickler when it comes to getting in exactly at the price I want. As can be expected, most binary trades close out just a few pips from where you entered, so it’s absolutely vital to get in at the price you’d like. It’s never fun losing a trade when you had the right idea in mind but got into the trade late at a subpar price.

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I could also understand the desire to use multiple monitors if you were following multiple pairs. Even back when I did that, I was perfectly fine with just the single screen of my laptop. I like to keep my expenses down, but if you feel the need to have multiple monitors like many traders do, then go for it. But for me personally, I like to stick to one only.

How many currency pairs/assets should I follow?

I like to follow only one. It can be boring, but following just one minimizes my stress and is just my preference. I’m not looking to take a high volume of trades – just a smaller quantity of very good set-ups. I have followed up to four at a time in the past by splitting my charting software screen into a 2×2 grid, with an asset’s chart dedicated to each of the four squares on the grid. Now I don’t really care for all that action and like to focus on one asset only.

How do I choose what asset to follow?

It’s entirely up to you. I like to choose whatever asset has the greatest payout percentage on the broker I’m trading at in order to obtain the highest possible profit margin. However, there is something to be said about being familiar with the asset you’re trading – learning how it acts price-wise, how volatile it is, at what hours is it most active, and things of that nature. In my opinion, it’s better to become an expert at one asset, in particular, than trying a “flavor of the day” approach and trading whatever meets the eye.

Where do you get your charts from?

I use AmeriTrade’s proprietary software called ThinkOrSwim (occasionally you might see it abbreviated TOS). It’s completely free if you sign up for an account with them (again no payment or funds are required to set up an account). It also lasts forever on your computer and receives regular updates. I really like the graphics and it has plenty of easy-to-use indicators and tools.

MetaTrader4 (MT4) is also very good and has been around for ages. As a result of its popularity, there are a ton of custom-made indicators for this software. If you’re into tinkering with indicators or just want to have a certain indicator on your chart for whatever reason, MT4 is probably the way to go. You can usually get this software for free by signing up for a demo account with a forex broker. Sometimes it may expire after a period of time (usually 30 days or 90 days) unless you actually fund a live account. Some brokers might give free lifetime access to their MT4 platform without signing up for a real-money account, but I currently don’t know of any. I have one remaining MT4 platform remaining on my computer from ATC Brokers, but that’s because I trade spot forex with them so mine will last indefinitely. However, I believe their demo account only permits limited-time access to MT4.

There are also free charting services available on the Internet, like freestockcharts.com. It may cause your Internet browser to lag, however.

What timeframe do you use?

For short-term binaries (i.e., 10- or 15-minute expiries) I like the 5-minute chart, as I feel it gives the perfect blend of seeing a close-up resolution of the price data while still being able to look back several hours at the price data. The 1-minute chart gives an even closer view, but there’s a ton of noise as only so much action occurs in the market during the course of one minute and it’s pretty much impossible to get a good view of what the market is doing on a larger scale. This is why I stick to the 5-minute chart for over 99% of my binary trading. But like so many other things, this again boils down to personal preference. I’ve actually heard of one trader who preferred to trade 15-minute expiries with a 15-minute chart. It’s all up to the individual.

For spot forex, I swing trade, which entails holding positions for long periods of time, so I use the daily chart. The daily chart encompasses a day’s worth of the entire world’s opinion. I have this set up such that the open and close of each bar occurs at 5PM EST, or roughly the end of the workday in New York.

What indicators do you use?

I only use Fibonacci retracements and daily pivot points in my binary options trading. My trading strategy is fundamentally based upon support and resistance levels, so these two indicators best help me to find these potential reversal points in the market. For Fibonacci retracement levels, I like to have them drawn on at least the daily time compression or higher (i.e., weekly, monthly). As a general rule of thumb, you’ll find that the more price data a Fibonacci retracement encompasses (e.g., multi-year high drawn down to a multi-year low), the stronger they’ll be for reversal points.

For forex, I use Fibonacci retracements only as a technical indicator. Daily pivots don’t do any good really because each candlestick I’m looking at encompasses an entire day’s worth of data.

Do you use volume in your trading?

No. For some reason, the charting software I use for my binary trade charts (AmeriTrade’s ThinkOrSwim platform) does not offer volume in its currency trading. Even so, I’ve never done any type of volume spread analysis. That doesn’t mean I’m not open to learning how to integrate volume into making more informed trading decisions in the future. But for now I am content to run with my current strategy, which has been working out very well for me.

How do you determine trend?

For binaries, I generally just consider the ongoing trend for the morning only. Most of my trades occur after 3AM EST, as the market really hasn’t had much of a chance before then to give any indication as to where it may want to head. The daily chart can give more of a macroscopic picture of the market. But looking at price history over the past six months isn’t going to give much insight as to what the market will do in the next ten minutes.

What is your money management like?

I use a fixed-investment money management strategy. I like to invest no more than 1% of the money I can afford to lose. And I keep this amount of money fixed. If you go by the percentage and you’re adjusting the amount every time you make a trade, then it can become difficult to get back up to where you were if you lose several trades in a row. Whatever you do, please don’t use a Martingale system, as tempting as it might be

70 Customer Feedback Questions to Improve Your Business

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By Sam Stemler on October 29, 2020

Is your customer service top-notch? Are your product features the best in the business? You need to ask the right customer feedback questions to find out.

We’ve added 25 additional questions to give you 70 customer feedback questions to address every part of your business, from customer service to market research. Customize these questions to suit your business and collect them in a survey, email, contest, question card, or plain old conversation to get answers.

The 10 Most Important Customer Feedback Questions

If you’re strapped for time, these are the top 10 most important customer feedback questions to include in a survey. These questions will give you essential information about the most impactful parts of your business.

1. How did you hear about us?

2. Were your expectations met, unmet, or exceeded?

3. Did our employees or customer service staff help you? How?

4. What, if any, products, services, or features are we missing?

5. What did you enjoy most about your experience?

6. How would you describe your experience in our store / on our website?

7. On a scale of zero (unlikely) to ten (very likely), how likely would you be to recommend us to friends or family?

8. From one (unhappy) to ten (very happy), how would you rate your overall satisfaction with us?

9. On a scale of one (not easy) to ten (very easy), how easy was your checkout experience?

10. What would you change about your experience?

These are the ten more important customer feedback questions because they address every aspect of the buyer’s experience. This way, you can get an overview of how your customers are finding your business, and what their experience is like once they arrive. You can also see where you can improve, what your strengths are. You’ll also get information about several important elements, such as your checkout experience, staff, store ambiance or website usability. Finally, you’ll gather important quantifiable data like your NPS (question 7), CSAT (question 8), and CES (question 9). To get more detailed information about any area of your business, keep reading.

Try These 70 Customer Feedback Questions to Improve Your Business

To Improve Customer Service

Customer service can make or break your business. The right customer feedback questions can help you improve customer service and make a stellar customer experience.

1. Were you greeted in a friendly manner?
2. Did our staff answer your questions?
3. Did you find our staff helpful and courteous?
4. Were you served promptly?
5. How can we make your experience even better?

To Solve Problems

Sometimes a customer leaves because they’re just looking for something different. Sometimes they get frustrated or treated badly. The right customer feedback questions will help you know the difference.

6. Is our product/service no longer useful to you?
7. Did the price of our product/service cause you to leave?
8. Have you decided to test out a competitor?
9. What would you like to see changed?
10. What would you say about your experience?

Interested in leveraging customer feedback to grow your business? Check out the Business Owner’s Guide to Online Reviews and for everything you need to request, collect, and mange online reviews.

To Showcase Your Strengths

It’s essential to ask the right customer feedback questions to happy customers. This is a chance to show what you’re doing that’s amazing. Use these questions to guide a review or a testimonial video .

11. How has our product/service made an impact on you/your business/your lifestyle?
12. What is your favorite thing about our product/service?
13. What would you tell your friends or colleagues about us?
14. Has any part of our business exceeded your expectations?
15. How would you rate your experience? (out of 5 or 10)

To Improve Your Product or Service

Continuous improvement makes good businesses into great ones. Even if customers love your product or service, you should always know what you could do better (before your competitors do it first!).

16. Which features do you love?
17. Which features aren’t useful to you?
18. Which features do you wish we had?
19. What would you change about our product/service?
20. Are our products/services priced appropriately?

To Understand Your Customers’ Needs

Your customers come to you because they need something, and you provide it. To continue providing it, make sure you know if their needs change.

21. What challenge or problem does our business solve for you?
22. How do you measure these challenges? (expenses, revenue, time, leads, clicks, etc.)
23. How long did you use our product or service before seeing results?
24. What prompted you to find a solution?
25. How could we make this solution more effective for you?

Interested in leveraging customer feedback to grow your business? Check out the Business Owner’s Guide to Online Reviews and for everything you need to request, collect, and mange online reviews.

To Understand Your Customers

When it comes to advertising and marketing, you have to know who your customers are, what they pay attention to, and what they respond to. When you know this, you can deliver relevant messages they’ll actually like.

26. What is your name/age/gender/job title?
27. Do you read paper books, magazines and newspapers, or read online?
28. Which do you use more; tv, smartphone, or laptop?
29. Which do you prefer; quick and convenient or detailed and customized?
30. Do you use free trials/coupons/offers?

To Improve Marketing Message

Once you know your customers, you need to know what to say to them. Customer feedback questions about how your customers utilize your business will help you focus on your biggest selling points.

31. How did you find us?
32. How long have you been a customer?
33. What made you want to try us?
34. Did you use a competitor before us?
35. How often do you use our product/service?

To Learn About Competitors

Most of us don’t find the right solution the first time. That means your customers probably have some experience with your competitors, and they can give you information you won’t find elsewhere.

36. What were you using before you found us?
37. What did you like about the previous product/service(s)?
38. What caused you to leave?
39. What does our business do better?
40. Is there anything you miss about the previous product/service(s)?

To Improve Your Website

If your business doesn’t have a working website, you’re missing millions of customers searching for you online every day. If you have a website, but you’re not sure why it’s not working, customer feedback questions can help you find out.

41. Have you used or visited our website?
42. Was it easy to find?
43. What were you looking for on the website? Did you find it?
44. Was the website easy to use?
45. What would you change about it?

Interested in leveraging customer feedback to grow your business? Check out the Business Owner’s Guide to Online Reviews and for everything you need to request, collect, and mange online reviews.

To Test a Product, Service or Strategy

Adding a new product or service to your business can be risky, but the right customer feedback can help you make informed decisions. Ask your customers what they think about the new expansion you’re planning. By revealing this information to your loyal customers, you can also create some excitement and recruit first adopters.

46. Would you find [new feature] useful?
47. Would you buy [new product] if we had it?
48. If we introduced [new feature/product] would you be willing to test it?
49. If we provided [rewards program/discounts/another special] would you use it?
50. How much would you pay for [new feature/product]?

To Understand the Purchasing Experience

If someone has already decided to buy, making this as easy as possible is the best way to complete the sale. Flaws in this process can turn customers away, ruining all of your efforts to gain their interest in the first place. Customer feedback questions that illuminate problems at this stage are extremely helpful.

51. How easy or difficult was it to complete your purchase?
52. Were you able to check out in a timely manner?
53. What would you improve about the check-out process?
54. Did you have to wait in line?
55. Were you able to find what you were looking for?

To Assess Employees or Training Strategies

If your business is very focused on one-on-one sales and service, asking about a specific employee can make a big difference. If you use this to assess employees’ performance, use it as a tool to reward high performance, not punish low performance. Using customer feedback to punish employees can create contention between the employees, and emphasizes adequate performance instead of encouraging outstanding performance. You might also use this as a way to assess training strategies or new policies.

56. Did an employee help you today? Who were they?
57. How would you rate your experience with this person?
58. Were they able to answer your questions or concerns?
59. Would you like to work with this person again?
60. Overall, did this person do an outstanding job?

To Gather Quantifiable Data

Several types of customer feedback responses are shown to correlate with other important business metrics, like customer loyalty, the chance of a repeat purchase, or lifetime customer value. Business analysts have developed these questions specifically to acquire measurable data about customer sentiment. These metrics include the Net Promoter Score (NPS) , Customer Satisfaction Score (CSAT), and Customer Effort Score (CES). Here are some customer feedback questions you might ask to gather this data.

61. How likely would you be to recommend this business to a friend? (Net Promoter Score)
62. How would you rate your overall satisfaction with our business? (Customer Satisfaction Score)
63. How would you rate your overall satisfaction with [specific product or service]? (Customer Satisfaction Score)
64. To what extent would you agree with the following: Completing my order was easy? (Customer Effort Score)
65. How easy or difficult was it for your question or problem to be resolved? (Customer Effort Score)

Interested in leveraging customer feedback to grow your business? Check out the Business Owner’s Guide to Online Reviews and for everything you need to request, collect, and mange online reviews.

To Improve NPS Scores

NPS data and other quantifiable metrics are important for assessing your overall performance year-to-year, but you also have to be prepared to act upon this information. Follow up your NPS, CSAT or CES survey with these questions to pinpoint where your improvement efforts are best spent.

66. How could we make the check-out process faster or easier for you?
67. What could we change to make our product/service more user-friendly?
68. Is there anything you were expecting that you didn’t get?
69. What feature could we add that you would really enjoy?
70. How could we make it easier to resolve your questions or concerns?

Customer Feedback Responses

The different types of customer feedback responses you allow can determine how useful your responses are, and whether they are easily quantifiable. It can be a challenge to find a balance between efficiently gathering and organizing responses, and receiving in-depth data. Here are a few different types of responses you might use, and some tips for using each one.

  • Open-ended: These are questions that can’t be answered with a yes or a no, and ask for more description or opinion. While these can help you understand an interaction or a customer’s sentiment, they’re difficult to organize, especially when working with a large number of responses. Customers also tend to skip these responses, since they take more effort to fill in. Use these carefully, and ask whether another type of response would be equally useful.
  • Options: These questions are more specific than a yes or no, but the responses are limited to a predetermined list. Customers might select one from the list, or several, and you should make it clear which they can do. This can provide more detail while still giving you well-organized data.
  • Yes or No: While this won’t provide details, it can help to reveal a problem. You might ask a more detailed follow-up question to get more information. Customers are most likely to respond to this quick and easy question, so you can use this more often in more places.
  • Sliding Scale: This type of response turns a customer’s feelings about an interaction into a numbered scale, so the data is more easily averaged and calculated. This scale might be from 1 to 3, 1 to 5, 1 to 7, or 1 to 10. Often, the customer-facing responses are not numbered, but use variations of “satisfied (3), neutral (2), unsatisfied (1)” or “agree (5), somewhat agree (4), neither agree nor disagree (3), somewhat disagree (2), disagree (1).” Pictures, color coding, or emojis can make this type of response more clear and more fun.

How to Get Customer Feedback

Now that you have your questions and you know what information you’re looking for, how do you ask these questions? What is the most efficient way to get customer feedback that is reliable and relevant? This partly depends on what you’re asking. You want to make sure the experience you’re asking about is fresh in the customer’s mind, and that they are comfortable responding honestly. Here are a few ways to request customer feedback. Decide which is best for you based on what you want to know and how your business works.

  • Email survey: You might use a quick check-in survey after a customer completes a purchase, or a longer survey to ask more in-depth questions about a customer’s overall experience.
  • In-Store Kiosk: This is especially helpful if you are asking about your store’s ambiance, experience, or customer service. You might mount a tablet in a prominent location and use kiosk mode to take responses.
  • On a Receipt: Add a link to a survey the bottom of a receipt, or include a short question or two at the bottom which your customer can fill out and return. This is ideal for questions related to the check-out experience.
  • Comment Cards: This classic pen-and-paper approach gives customers everything they need to report good or bad experiences in your store. You’ll have to enter and score these paper responses yourself to accurately measure data, but this method is easy to set up.
  • Pop-Up Survey: Instead of (or in addition to) sending an email, use a politely-worded pop-up or an additional page to ask your customers about their online experience. You might use this after a customer completes a purchase, as they are browsing your site, or when they use a deal or discount.
  • Exit Survey: When a customer unsubscribes, cancels or downgrades their service, or doesn’t purchase for a while, use an email or additional page to ask them why.

These customer feedback questions can help you guide a testimonial video, make up a question card, or write a survey. When you’re asking for customer feedback, make sure you know what you’re looking for, and customize your questions accordingly. Avoid asking too soon, and make sure you ask the right people. Be prepared for good or bad feedback , and have a strategy ready to use the information you receive.

Get everything you need to collect online reviews and leverage them to grow your business.

FAQ – Trading Questions and Answers

Not everyone is going to be fully aware of what Binary Options are and how you can use them as a way of making some very substantial profits placing trades on a wide range of company share values or any of the many other types of trading opportunities that become available to you when you start to trade Binary Options.

In this section of our every expanding website we are going to take a look and present to you the most frequently and most commonly asked questions that novice or first time Binary Options traders who are based in Nigeria may have.

We have tried to be as completely and diverse as is possible in regards to putting these questions and answers together, however if you find you still have some questions that you need the answers to them carry on looking around this website as you will find the answers you are looking or if you do, as we have put together a very wide and diverse range of other questions and answers type guides and articles to enable everyone to get their head around how Binary Options work and operate and how you can quickly get involved in them.

Before you are permitted to start trading Binary Options online you will have had to have reached your 18th birthday, not Binary Options trading sites are going to allow you to sign up and start trading at their sites until you are at least 18 years of age.

There are several different online Binary Options trading platforms available, each one will be tailored to your experience in trading online, the most basic platform offers a very easy to use structure whilst some of the most advanced ones boast lots of additional features allowing users to tailor their own unique trading strategies. You are also going to find mobile trading platforms are on offer which will be compatible with most mobile phones and tablet devices.

You will have no problems what so ever if you chose to become a trader at any of our featured Binary Options trading sites in regards to you being able to access and utilize a demo trading account. You will be able to use that demo trading account to place all manner of risk free trades in the real money environment however all profits and losses when using a demo trading account with be in demo credits!

It can often be a case of as soon as you have made a qualifying deposit into a Binary Options trading site account that your bonus is going to be added to your account at the very same time, however all Binary Options trading sites will possibly have one of several different ways of crediting to you our new customer sign up welcome bonus and whilst some are automatically added other may need to get manually credited to your account or you may have to claim them separately, so always check the site you are a customer of for details of how to claim and get your Binary Options bonuses credited to your account.

You will be paid usually within 24 to 48 hours of you requesting a cash out form any of our featured Binary Options Brokers, but do be aware there are lots of other broking sites available online and those other sites can take weeks and occasionally months to pay you your cash outs so stick to those listed don our website to ensure you get paid rapidly and on time every single time you cash out!

You will find Binary Options Broking site trading platforms have been made as easy to use as is possible, and in fact as you can sign up and start to use them via a demo trading account you will be able to put them fully through their paces before you invest any real money and start trading for real. Please do test out several different trading platforms for whilst they are certainly not difficult to use what you will find is some of them have more advanced features attached to them which you may find very helpful and handy.

You can have as many Binary Options trades open and in play at any time as you see fit, none of our listed Binary Options Broker place any limits what so every on just how many open trades any of their clients can have now do they have just a limited number of available trading options, and that means you will always be able to find the trades you are looking to place and can place as many of them as you wish.

You will be able to use debit and credit cards, Western Union and a whole host of different types of web wallets to both send funds into a Binary Options trading site account and also make withdrawals from such a site.

Trading Binary Options in Nigeria is not illegal and as such you are free to place as many of them or as few of them as you see fit!

The only way that you are going to be able to truly master making repeated profitable winning trades is through experience. With that in mind you should always be aware of any breaking news stories and keep abreast of all of the current business and financial news stories, and also be prepared to act instantly once you spot a profitable trade!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

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