Archive for category Binary and Forex

5 tips to trade successfully

Know yourself

When trading forex currencies, you will soon learn that it’s not just about the knowledge you have. When you are trading with your own money, there’s going to be a lot of emotions involved. If you lose on a trade you were sure you was going to profit on, you will get disappointed, and that can lead you to start making stupid trades that you wouldn’t do otherwise. Keep in mind that Forex trading shouldn’t be like gambling, you should never put to much of your full capital in to one single currency. By managing your risk properly, you can afford to lose some trades without it affecting you emotionally.

Choose a good broker

This is something that is often overlooked, especially amongst new traders. But the fact is that your choice of broker is one of the most important things in forex trading. Not all brokers are suitable for beginners, just as not all brokers are suitable for professionals. Before signing up anywhere, make sure that the broker meets your needs in terms of trading platforms, assets, customer service and other expectations. A good way for beginners to get a good overview of different brokers is to use trading portals such as forextrading.pm, which have reviewed a lot of market leading brokers in order to make things easier for beginners. They also offer beginner’s guides as well as advanced forex trading strategies.

Start off simple

When you’re a beginner and just signed up to your first broker, don’t start to go crazy and trade with everything. It’s much better to stick with a currency pair that you know something about instead of just randomly starting to mess with several currencies you don’t know the first thing about. A good general tip is to start trading with your own country’s currency.

Go easy in the beginning

There’s no need to rush things. In the beginning of your trading career, chances are that you will screw things up a few times before you start getting success. Therefore, there’s no need for you to put all your savings in to your trading account straight away, as it will be too big a risk. Instead, start off small and see how it goes. When you start making a bit more profit, start devoting more and more money to forex trading, but do it progressively. You should never risk more money than you can afford to lose. A good place for beginners, especially those from Latin America, is at Cambio de Divisas, which has some great beginners guides and brokers listed.

Do not trust Forex robots

In your trading career, you will undoubtedly come across offerings of trading systems that can “guarantee profit”. I’m sure you’ve guessed it already, but just to make it clear to everyone: These are scams. If someone actually came up with a bulletproof trading system, he could have made much more money keeping it to himself and using it on the market.

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How to learn binary trading

I’m sure you have heard of the latest craze in the online betting world. Binary trading has made a huge impact since it came in to the scene in 2008, and is really the thing that has brought financial trading and traditional betting one step closer to each other. A lot of gamblers who used to be fond of gambling in online casinos and sportsbooks are now taking the step in to the world of financial betting, and they’re probably doing so because of the chances of making profits are a lot more realistic.

So, when you first step on to the financial trading scene, there might be some confusion. I mean, most of us don’t know much about how the market works, and all the graphs and analytical tools might seem a bit intimidating at first. Naturally, you want to start with the easiest and most simple form of trading, which is binary options. Binary options means that you “bet” on the future progression of the market price of a certain commodity, indices, currency or stock within a specified time. Much like in sports betting where you bet on which team will win the game. This means that there are only two outcomes which can occur. You will either win the trade or lose it. Binary trading offers very high payout rates compared to other forms of trading, and combined with the low risk involved it makes attractive to both beginners and experienced traders.’

Still, there are things you will have to learn in order to make profit in binary trading. If you just start investing in options with no clue of what you’re doing, it’s pretty much like betting on red or black in roulette, meaning there’s about a 50% chance you will win or lose. However, if you can predict the way the market price is likely to go within the specified time, you have a much greater chance of coming out as the winner. So how do you predict the trend of the market price? You do so by learning how the market actually works. What sort of events will affect the price of a stock for example?

The easiest way to learn how to trade with binary options is actually just to sign up to a binary trading broker. Most of the more well known and big brands actually offers courses to all their members. Some websites has entire sections dedicated to teach new traders how to become successful. In these sections you will find videos, webinars and eBooks that you can take advantage of. The easiest way to find a good broker is to visit websites that specializes in binary trading, such as binaryoptions.pm, or Opciones Binarias for spanish binary traders. They offer both binary trading tips as well as listings with reviews of good brokers with a good reputation.

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