Here we consider all the components of the most effective binary options trading:
First of all it is necessary to show consideration for the choice of the broker. Any financial market is very attractive place for scams as there is a lot of money in it. The quantity of the new websites about binary options which try to position themselves brokers only increases over time. Overall, they differ in little things, but often have much in common. The main thing that unites dishonest brokers – they do not pay you the earned money.
How to recognize such a pseudo broker? If you noticed the increased attention to you at a registration stage, if they promise you nearly the round-the-clock free mentor and promise a lot only due to his tips – you got on the website of scammers with high probability.
Before replenishing a deposit on any platform on options, you should be convinced that it takes worthy positions in the rating of the top websites on binary options which publish many independent financial resources. Most of new clients do not pay due attention to the choice and begin the trading directly on the first website.
The majority of platforms on binary options provide the platforms for training trade on a demonstration account, and it should be used. You do not deposit funds for a deposit, and trade only virtual money.
To replenish your account in a private office of any broker, you should get registered on it. Further fill in the requisite and the amount of money and to begin the broker activity. But don’t forget to train on a demo first.
At least you have an opportunity to understand how everything functions beforehand, to perfect some technical features of the trade strategy if it already exists or to try to develop it. Trade on a demo the account is an excellent opportunity to reduce losses of a real deposit and to learn to trade with profit. Only psychological problems will remain in case of transition to the real account.
They are rather simple itself. To buy the binary option, it is necessary to make a bet – its minimum size equals to 1 dollar at most of option brokers. It gives the chance to attract the bigger number of people who are not able to afford risking large amounts. In the western markets, rates begin with the much bigger bets.
Further you look at the chart of the chosen tool – for example, any currency pair, and decide where most likely the price will go in the near future. You choose the time period. Most of brokers has an opportunity to trade in binary options less than a minute. Having made the decision, you expose period of validity of the option, for example 1 minute, or time of an expiration and press the CALL or PUT button.
After the set time you learn whether you were right in the forecast. The answer will be reflected also in a deposit – if the forecast was true, the sum on the account will increase. Payment varies from 65% to 88% and more, and depends on many indicators: time of day, news release, the chosen tool and a timeframe. If the forecast was wrong, all sum of the option is withdrawn from the account.
After mastering these simple rules it is possible to train on a demo account and to pass to a stage of serious training and formation of own strategy.
The first that it will be necessary to study – a money management and all types of the technical analysis: on candles, on volumes, on graphic figures. It is a huge volume of information. Its development requires at least a few months. The fundamental analysis on trade in binary options, especially short expiration, influences slightly. Therefore at the initial stage it will be enough to explore main points superficially. The main thing to develop a habit to check an important news release daily according to the calendar. More profound knowledge of the base can be necessary at development of long-term trading on options.
Begin with your own strategy search. It should not be difficult – important to learn to use it at transactions on binary options correctly. Before stopping on one strategy, or to develop your own, the trader usually spends a lot of time for approbation of tens of the most different others ways of trade. Besides, it is possible to be trained with application and on a demo account.
Psychological preparation for the first binary option
At this stage we use any sources of information and ways of overcoming psychological problems. There are many books, webinars and video in network devoted to it. It is really important subject – having only mastered all psychological aspects of trade and having learned to cope with own emotions, you will be able to call yourself the real trader. You should remember that the more knowledge and experience you have, the easier to break psychological barriers.
Track of all financial events. This point remains with the trader of binary options forever. It is necessary to be aware constantly of the main eventsso you won’t miss important trading changes. Reading competent analytics is a peculiar way to consult or to learn at least the opinion of experienced financiers on behavior of the markets in the near future. Compare the facts you think about it and correct own plans.
I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....