Trading binary options – a beginners guide
New to binary trading? Looking for some pointers about how to get off to a good start in the business? You’ve come to the right place. On this page you will find lots of helpful advice that will point you towards a flying start in binary options.
If you are considering making money in binary options, you will probably already have worked out that you need an account with a binary trader. You can find helpful info and thorough reviews here on the site. You can also read a lot about how binary options work, how to trade on them and how to read the market.
How to start trading binary options – a beginners guide
If you want to get started right away and with no risk of losing money we strongly recommend you to sign up for an absolutely free IQ Option demo account. IQ Option is one of the most popular brokers in the binary options market and also one of the only brokers to offer a real demo account.
The purpose of this article, Trading binary options – a beginners guide, is to suggest some smart moves that can help you trade like a pro in no time. If you’re trading like an amateur, you’ll make money accordingly. Read on to find out how you can make the big bucks from day one.
Free demo: always a good deal
You’ve opened an account with a trader. You have transferred the money you have to invest into your account. You’ve read a few articles about technical analysis and you’re ready to go: time to throw yourself into the market and grab your share of the big bucks! Right? Wrong!
Much smarter than jumping headlong into binary trading is to start with the training wheels firmly in place. This might not sound cool or sexy, but trust us, it’s the best and fastest way to get where you want to be: earning a nice, long-term profit on binary options.
In this context, “training wheels” means a free demo. This is an opportunity some binary brokers offer to make pretend trades free of charge. It is basically a chance to test out binary trading without any risk. In demo mode you invest and win only pretend credits – no real money is involved.
A free demo offers up a lot of great opportunities. Some of the most important include:
- Get the rookie mistakes out of your system
- Experiment to find out what sort of strategies, assets, options and running times fit best for you
- Get the feel of the platform’s functionality and features
- Gain confidence by winning some trades
- Gain experience by losing some trades
All these points can save you plenty of money. They will also heighten your chances to make money once you get started with the real trading. And don’t forget: you stand to lose absolutely nothing by taking advantage of a free demo!
Learning centers pros and cons
A lot of binary brokers offer their members learning centers of some sort. These are online resources where you can learn about binary trading by reading books and articles, and watch video tutorials. They can be helpful, but also have some drawbacks. Here are some learning center pros:
- Learn about binary trading for free
- Learn about technical analysis for free
- Get to grips with the jargon for free
- Figure out how the trading platform works for free
All these pros are great. You need a basic understanding all these things, and learning centers make the information available at no cost to you. None the less, there are some cons regarding learning centers. They include:
- Time consuming – do you have hours to spend each day studying technical analysis?
- Unnecessary – there is a limit to how much in-depth knowledge you need in order to make money on binary options. This is an easy, accessible form of investment
- Distracting – you’re here to trade, not go to school. You need to learn the basics, but don’t expect to make more money the more time you spend reading about candlestick charts instead of trading yourself
The lesson here is this: you need to learn the basics, and learning centers are great for that. Do not, though, get carried away. Once you know how to trade, you’re good to go and only first-hand experience can really help you make the big bucks.
Have a look around our site for more information about everything else you need to know to get started with binary options!