Trading binary options open up new opportunities and widen financial horizons. Anyone can trade binary options. Most of us are afraid of change but change and growth are the energy of life. Change is inevitable. We can accept it or we can resist it. Pocket Option embraces changes and helps our users to explore opportunities binary options trading. There are multiple types of binary options available to trade. The simplest and by far most common trade is the Up/Down trade. Do you want to become a trader? Are you trading and looking for a new platform? Join Pocket Option and become an experienced and successful trader!
Where to start if you are a beginner?
Start with a demo account from Pocket Option. At Pocket Option, we offer to our new traders a demo account where they can test their strategies. We also offer advice and recommendations from our well-known and popular brokers. We offer a generous list of indicators and oscillators so you can successfully increase profits and reduce your risk.
Despite the fact that the advertising given by brokerage companies assures you that you can get a stable profit from the very first days, nevertheless, it is not so simple here. Therefore, before starting to engage in trading, a beginner must undergo appropriate training. And for this, we need a system. Otherwise, you simply get confused in the amount of information that is now available on the network.
If you already know the basics, you still need to read about the indicators, oscillators and strategies. In this article, you will find a step-by-step guide that will help you start trading on binary options if you are a beginner.
How to Start Trading Binary Options?
So, you decided to start trading? Congratulations! We recommend you take the following steps:
- Get some basic training in trading. Learn more about:
- Types of binary options;
- Types of technical analysis and strategies;
- Types of charts and indicators;
- Trading terminal;
- Risk management.
- Find a trading platform. There are so many platforms that offer a demo account and do not set high limits. Pocket Option is one of the most popular trading platforms.
We also offer many educational materials so you can also make a sensible decision as a beginner and start trading now. With us, you can start here with just $ 10, and the minimum amount is $ 1.
- Develop your trading strategy. Trading is not gambling, so you need a trading strategy. Test it on your demo account. A strategy is considered working if the profit is 70%.
- Find your psychology. No strategy works without psychology if you want to become a successful player. Real trading is very different from the demo. Therefore, it is recommended for beginners to start trading on a minimum deposit.
- Find your trading system. A trading system is a set of rules that you make for yourself. It is the basis for your trading, money management and strategy.
What beginner traders should know?
Binary options are a simple option contract with a fixed risk and fixed reward. The options are called binary because there is a “one or the other choice.” The choice is up or down; touch and no/touch.
Some key things you should remember before you start trading binary options:
- Your risk is limited to your trade amount.
- If you make losing trades, you lose your trade amount.
- There is some risk involved. Apply strategy to manage it.
- You never own any assets. You only trade in the direction of price.
- You have to win the majority of your trades to make money.
- Up/Down is only 1 type of binary option, there are many others.
- Trading binary options is designed to be easy and transparent.
A trader chooses an asset (a stock, commodity, currency) and trades if it is going to go up or down in a certain amount of time. You bet money on your prediction. You know how much money upfront you will earn if your prediction is correct. If your prediction is wrong, you lose your bet and the money risked. If you predict correctly you get your money risked back plus a return. The returns usually are 70-85%.
Join the Pocket Option family of traders, learn some basics and test your strategy with the demo account before you start trading real money. Good luck on your way to success and financial independence!