Quite often you can hear feedback from beginner traders that it is not quite clear how Fixed Time Trades works. That is, theoretical knowledge is difficult to apply in practice for inexperienced participants. That is why the main question for beginners is, where to start trading on options?
We choose the platform for registration
In order to start working, the main thing to do is to choose the right platform to trade on. This will be your main field of activity, so when making your choice, pay attention to the site interface. It should be accessible and understandable to the most ordinary person. However, it is possible to fully understand the functionality of the work platform only after registration. So first, activate your site account and get to work.
There are sites where registration takes a lot of time, and it is necessary to download various documents. This approach can not be called convenient, especially for beginners, who after such procedures will tire on the half way. Among the best examples of quick registration is the company Olymp Trade, where you can immediately open a demo account and a real account after activation of the account.
Which account to choose
To make your first transaction you need to use a demo account, where there are virtual 10 000 conventional units. Here you can learn and train to open positions correctly without fear of losing your funds. However, you will not be able to earn money in this way. For real earnings should open a real account on the site. You can replenish your account with Visa or MasterCard bank cards, as well as with many other payment systems. Ten dollars is the minimum deposit.
Conclude a demo tutorial deal on Olymp Trade
To train and develop your skills in trading, you should use your demo account. This is the easiest way to understand trading. For those who don’t know the nuances at all, you can just click “Below” and “Above”, and then watch the changes in the chart. Your balance will be deducted exactly the amount needed to make a trade. To check, you can open the “Trade amount” window and see how much your balance has decreased.
After opening a position, you will observe the schedule. If you have put on “Below”, on the chart you will see a line and a red arrow pointing down. On the line, you will see the level at which the price was when you opened the option. A red arrow indicates that you expect the price to fall when the trading period ends.
You should also mention the time. In the Trade Time window, you select the time period that you need.
You can also choose the amount by which the trade is opened. You can see the length and duration of the option in the blue box on the chart, where there is also a blue line. After the time of the trade you have two options – you get the amount of the trade back to your account and plus 80% of the profit or you lose the amount of the trade. In the first case, your predictions have been justified, while in the second case they have not. In case of winning, you gain much more than in case of losing. Try to make a few such trades.
We conclude this deal
Once you start to understand the functions of the platform, you will need to connect widgets – economic calendar and trading signals. These services significantly increase the probability of making profitable deals, because you can’t work with cash at random, you already need to use trading analytics and abilities. Do not give in to excitement to make your first real deal. Emotions are not appropriate here. Choose a minimum amount of 1 dollar and a deal time of 5 minutes.
This period is optimal for opening most profitable rates. Use in work analytical service. Even if your first transaction is a losing one, do not worry, because the income comes with experience and knowledge. Train on not large amounts of money and choose a time interval of at least 5 minutes. This will save your deposit from unnecessary losses. Congratulations, you are now a beginner trader and there are many new discoveries on your way. We wish you good luck!