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How to become a real binary options trader?
This article will talk about a step-by-step instruction on how to become a trader of binary option from scratch. Thus, those who want to become a trader down the road will find this program helpful. Although the way of formation of a trader from the beginner to the professional is not easy and the trader needs a lot of perseverance, a desire to learn and learn new, he/she will eventually reach the destination in the end.
First of all, the person who wants to become a future trader needs to define what a trader is and what he does. A trader is a direct player in the financial market, which operates transactions on the sale and attainment of assets in order to make a profit. Put in other words, a person who estimates price changes in the market. In reality, the trader of binary options also gets profits by dint of changes in market prices. That’s to get the full amount of profit it is adequate to the price changed in the right direction at least 1 point. Besides, the terminology of the market of binary options will also be discussed in the corresponding article, as well as in the trader’s dictionary. Thus, if the readers who have lack understanding about the topic of “who, what and where” can be familiar not to confuse binary options and “binary auctions.”
How quickly and effectively does the investor lose his deposit?
Many fresh investors assume that in order to get the yield on binary options, it is adequate to seek for Holy Grail. That is, there is conveyance that will give them a 100 percent profit. Apparently, this naive notion in unicorns, greed, and unwillingness to research independently are now actively wielded by both brokers and their managers. Therefore, today on the Internet, people can find just a car and a small cart of magical ways of earning:
• 100% of the strategy, • 100% indicators, • Robots, • Trust management.
It is important to note that trading with a 100% result virtually does not exist in nature. Many traders who have long experience of trading get modest results, rather than this notorious 100 %. Furthermore, all these robots and magic strategies that promise the investor enchanting and straightforward earnings, operate for only one purpose that is draining the investor deposit. Thus, buying a strategy, utilizing a robot or pouring money to the management of the “super-trader” will not abet the trader to earn anything but can even make the trader lose the invested capital.
What do we need to become a trader?
Above, the article has introduced the reader who the trader is, what he does and what strategies the trader should not apply for trading. Before going into the concrete program, there are several points to note:
• If a person makes up his/her mind to become a trader, prepare to work hard. A trader has to work hard, especially at the very beginning stage. So, the person who presumes that trading is easy like taking candy from a baby and do not need any specific knowledge should not start trading. • Secondly, it is noted that 90% of traders lose their deposits as they are simply not willing to learn and to work. If any reader wants someone to earn money for his/her, then he/she should take stock of the advice given in the previous paragraph.
The program “I want to become a trader”
Next, this article will show the reader a step-by-step program on how to become a notorious trader from scratch.
1. The fundamentals of trading
The beginners should deal with the following fundamental questions:
• What are binary options (and a trader, broker, timeframes, etc.,) • The importance of trading binary options, • What are the assets on binary options, • Currency pairs on BW, • What is the technical and fundamental analysis • What is mani management
A workplace is essential for a trader; the trader will necessitate a computer with an Internet connection and the feasibility to connect at least one more monitor down the line. Nevertheless, the trader should not purchase expensive high-powered equipment for work immediately; rather he should attain a regular computer or laptop. Besides, the workplace should be a room that allows the minimum amount of distraction as the work of trader should be carried out in a relaxed environment that can enhance the trader concentration. Besides, the trader can choose regular headphones with low-pitched music to help filter out distracting sounds.
3. Binary options broker
Next, the trader needs to identify the broker of binary options, in which he is planning to trade. Actually, in today age, a considerable number of brokers-fraudsters have wide-spread, which simply do not make the profit. In this issue, the traders should get familiarized with the following documents:
• Instructions for choosing a broker, • An article about which brokers are suitable for trading.
The trader should also not work with binary options that have just been opened as they might be fraudsters. Also, the trader should not completely trust in company-brand as history shows many cases when large brokers get going spoiling and sliding into a frank scum. One of the most prestigious brokers that the trader can trust is FinMax. This broker can be useful for novice trader as they offer low rates, so the trader can follow risk management. Here are the links to the official sites of Finmax:
Charts are regarded as the most useful conveyance for every trader. Thus, if a person wants to become a trader, then he or she needs to learn how to work with the chart. The new trader should start with live charts, and, a few months later, can go to MetaTrader. The trader should also begin the work with the graphs from the observations such as watching the price, observing how it moves and what regularities happen on the chart. The trader should keep notes on the fields in a form that is suitable and should try different kinds of charts (candles, pinballs), overlook different timeframes.