Apr 14

When you first start off in binary trading, you often do so to try it out. You don’t care to much whether you make a lot of money, but you merely want to experience it and see if it’s something that suits you. After a while you start to become interested in the mechanics behind it, and the taste for money will soon start to grow inside you when you realize that there’s a lot of money to be made if you play your cards right.

It’s during this stage that a lot of us starts to read up on guides and strategies in trading, on sites like binaryoptions.pm, where you can find most of what there is to know about binary trading. But most people, in my opinion, do it the wrong way. They get in to it with the intention of making money QUICK! Rushing things are rarely, if ever, a good idea when it comes to investments. Investments should only be made after you’ve looked at all the different options from every possible angle and you know that the choice that you are going to make is going to be the right one based on the information you have gathered researching it.

What beginners do is that they read a couple of guides, and all of a sudden they think they are the new Gordon Gekko, and they eagerly sign up to more binary brokers and start trading with all their money. Although it’s not unusual for them to have success and make money in the beginning, these sort of aggressive strategies rarely pay off in the long run, and the reason for this is that they take risks that are too high. I won’t go in to full depth here (you can read detailed guides at this website), but basically what you want to do is to invest small parts of your full capital into low to medium risk assets.

What the beginners don’t understand is that no matter how good you are at trading, you will still have the occasional losing streak. These things happens because no matter how long we look at it, no matter how carefully we study a situation, we can never be fully certain of what the outcome of a certain event will be. The element of chance and randomness is always going to be present in online trading, and we have to be prepared for it. If you put your full capital on an asset that you are 95% sure off, you will never make it in the long run. Eventually the day will come where you start losing, and when you do, you will have massive chunks of cash taken from you in a very short time, and that is definitely something that you want to avoid at all costs.

I recommend you to start trading for fun with money that doesn’t matter too much to you, and then slowly, slowly work your way up in the trading world. This way, you will always have the experience and knowledge necessary to take your game to the next level!

Jan 25

If you are completely new to Forex trading, but you are interested in trying it, and you are now looking for a quick step by step guide on how to get started, look no further! In this guide I have collected 5 steps that you should complete in order to start your forex trading career:

Learn first, trade second

Before you even visit a forex trading website, you should definitely learn the basics of trading. This, of course, does not necessarily mean a three year course at a business school, but you should at the very least read up on a few basic guides on how forex trading is done, and how the market actually works. You can find several guides at this website, Cambio Divisas, which I found a couple of months ago that helped me a lot in my trading career!

Open up a demo account

Before you start trading for real money, it’s highly advised that you open up a demo account with your forex broker. A demo account feature is available at most respected forex brokers on the internet today, and you really shouldn’t have a problem finding one if you look around a bit. A demo account simply means that you get an account that uses “fake money” that you can trade with for the purpose of practicing. This is a good way of easing oneself into the forex market. However, I would not advise you stay to long on the demo account, as you won’t be able to make any real money, and you will probably get bored pretty quickly. A few days to learn the basics is what I would advise!

Choose a good broker

These days, it’s easy to find a good forex broker, and for several reasons. First of all, in just a few years time there are hundreds of new forex brokers that have popped up on the internet, so you’re not short of choice! Secondly, with services like forextrading.pm, you can easily get a good overview on what the different sites offer. These trading centrals have review section where a whole bunch of forex brokers have been investigated to see if they are good or not!

Don’t overtrade

In the beginning, I think it’s important that you don’t go out too hard. Instead, start off easy, trading with small amounts of money, and slowly work your way up to more substantial amounts. One of the keys to success in forex trading is without doubt not to get emotionally invested in your trades, and the more money you have on the line, the more likely you are to succumb to your emotions!

Have fun!

Let’s face it, there’s no point in trading forex if you don’t have fun doing it. If you find yourself bored you should get another hobby. It’s much harder to learn new things that you aren’t really interested in, so chances are much greater that you will lose money on forex trading if you are not having a good time doing it!

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