Many beginners say they understand the rules of trading but they can’t apply knowledge into practice. Put simply they never opened their first deal. And, of course, their main question: where to start?
Register with a broker
First of all, you need to choose the broker you are going to trade with. First of all beginners should pay attention to the visibility of the trading platform, because it will be your main field of activity. You can find out whether this or that web terminal is suitable for you only after registration. When creating an account on the broker’s website, make sure that it is convenient for you to use the site, everything is clear, and registration does not require a large amount of time or download a package of documents. It is extremely inconvenient for beginners, who after long manipulations may lose the desire to make their first deal. One of the most striking examples of instant registration (even without e-mail confirmation) is the company OLYMP TRADE. Here you can open both a demo and a real account in one minute.
Select the account
Talking of accounts. You should open the first deal on a training demo account. This is a training account, which has virtual 10,000 conventional units. Here you can safely open transactions. A real binary options account is a testing ground for making real money. Here you will not be able to open the first trade at once, because you initially do not have a Deposit in your account. To buy a real binary option, you need to top up your account using one of the convenient ways: Bank card Visa or MasterCard or one of the payment systems. The minimum amount is $ 10.
The first demo deal
As we have already noted, the very first binary option is better to buy it on the demo. Moreover, if you do not understand trading yet, just click on one of the two buttons: “UP” or “DOWN”, and see what will happen. You will see your balance reduce. Don’t be afraid. First check the window “transaction amount”. What number is there? That’s how much your initial amount has decreased. Now watch what happens on the graph. If you click “DOWN”, you will see a line with a red arrow pointing down. The line marks the level at which the price was at the moment when you bought the binary option. Arrow informs that after the specified time the price will below this level.
Talking of time! The period that you will have to wait for the result is pointed in the “transaction Time” window. You set time as well as the amount that you would like to invest in a binary option.
The blue field on the graph and the blue line below it shows us the way the option time flows. Well, time is up-congratulations!Your first deal is over! If the amount you missed returned back to the account plus 80% then you made the right decision by clicking on the “DOWN”.If it did not happen and your balance did not return to its original size — then your forecast did not come true, and the schedule at the moment of closing the transaction was above the desired level. In this case, as you have already understood, you have lost only the amount that was invested in a binary option – no more no less. Make several deals until you fully understand the whole principle of binary options trading.
The first real deal.
When you get used to the platform, connect at least minimal analytics to trading — for example, a trading signal widget or an economic calendar. Owing to these services, you will increase the probability of a successful outcome of the transaction. “Guessing” is not the best strategy for the first trade on a real account.When you deposit funds and are ready to trade with real money – don’t worry. Invest the minimum amount ($1)in your first trade on a real account set the optimal time of the transaction-5 minutes and decide on the price movement direction. It is better to use one of the analytical services. Now press the selected button.Even if the first deal is unsuccessful, it is still a great victory!Congratulations!Now you are a trader and you are ready to study binary options further.Until you are self-confidence, make small bets. Let it be dollar by dollar, but this way you will get rid of the fear of “losing everything”.As a time interval, it is better not to choose a period less than 5 minutes: so the probability that you are not mistaken with the direction of the price movement is much higher. We wish you successful deals!