How to learn to make the well-known 80% per minute and start an independent life of the trader not working on the uncle anymore?
How not to wear rose-colored glasses from the very start then not to be disappointed cruelly afterwards? So let’s learn how to start trading using binary options.
Why so many traders choose Binary Options?
To buy and to sell options is a chance not only for stock exchange brokers and banks but also or small investors. Options trading is very convenient for small investors (at least, if the risks are well understood, and its potential can be fully utilized). Therein lies the secret of the Binary Options’ popularity and wide use. Also buys over the fact that you can trade options at anytime, anywhere – even from your cell phone! To do this you need only to install a special trading application.
The first step – to know your risks
As in any other business in Binary Options trading there is a certain way which should be passed by a novice trader. There are certain nuances which the trader should pay attention to in order to walk this path with dignity, avoiding the pitfalls.
Firstly it is necessary to learn that Binary Options trading is a rather uncompromising thing. This is a real financial instrument that sometimes operates on the principle of “all or nothing”. We need to predict the price. You either multiply your income with the set amount or you can lower it. But do not let the poor because this error can be easily avoided if the trader reads the instructions carefully.
The next step – cooperation with a broker
Binary Options brokers provide traders with a platform. You are going to predict the price movement in exchange for substantial reward for the good prognosis (60%), or otherwise, rates may drop significantly which certainly does not work for the benefit of the trader. That is why it is so important to find a broker you can absolutely rely on. Read more about it in the section “Brokers”. Fortunately new brokers are appearing on the market almost every day so it would not be so difficult as it may seem to choose the one who shares your views.
To start trade and cooperation with brokers in most cases you have to start your own demo account. Demo Account is similar to the real one but with one important difference. You will trade using PlayMoney (virtual money) instead of real means. Although some alternatives are possible here.
Train hard, fight easy
Get ready for the following fact – you will have to spend perhaps even a few months on training and studying. It is better not to rush at the beginning, so as not to commit follies. Remember that there is no indicator or strategy that in 5 minutes will guarantee you a successful transaction. You need to know the minimum framework for the trading analysis. After all to develop the ability to predict the price you have to study such thing as Binary Options technical analysis.
The first things you should know are:
– What factors influence the trade market
– How the news effect trading
– The basis of the Dow theory (support / resistance lines, channels, etc.)
Then you can go to the study of major indicators.
The beginning of your way starts here…
At first your main task is to learn, to read articles and reviews, talk to other traders. To trade. To read once again. In the first 2-3 months you should study more and trade and risk less. When you become proficient, then just in a month you will be able to earn more than for the year before. But to achieve this for the first time it is better to keep your impulses and study the process. And onward as you know there is a road going underfoot.
Now, your mission is to make a way to trade with the global brokers, a road to real stock and futures. You can earn your first capital on binary trading, and then you will forget about office slavery forever. Remember – now it’s your job. And it takes time, discipline and self-organization. And certainly – your ambitions and commitment to excellence.
That’s all for now. Got any questions? Just ask the expert!