10 Great Ways to Learn Binary Options Trading – Information for Newbie Investors

Personal Finance

Beginners are just taking their first steps in learning the basics of trading, and they need access to quality sources of training. Like cycling, trying and making mistakes, along with the ability to move forward no matter what, that’s what will lead you to success.

A huge advantage of trading is that it can last a lifetime. Strategies conceived twenty years ago are still in use. The game always goes to the fullest. So beginners who want to take the first steps, to your attention – 10 answers to a simple question – How to start?

Open an account with a broker

Find a good broker and open an account. Familiarize yourself with the scheme and use free trading tools and research results offered only to clients. Some brokers provide the possibility of virtual trading, which is very good, since you can trade with virtual money. An excellent tool for comparing brokers can be found on the website

Read books

The books provide adequate information for an inexpensive price, in comparison with the price for classes, seminars, educational CDs, which can be found many on the Internet. On the site you can find a complete list of 20 excellent books about trading for investors. Personally, my favorite book is “How to Make Money on the Stock Exchange” by William O-Neill, founder of CANSLIM Trading.

Read the articles

Articles are an excellent educational resource. We have more than 1000 unique articles on our website, divided into categories. Recommended websites that can be useful for educational purposes are investopedia.com and, of course, Google search.

Find a mentor

A mentor can be a member of your family, a friend, a past or present teacher, an employee, anyone who has a fundamental understanding of the securities market. A good mentor will be happy to answer your questions, provide the necessary assistance, provide useful resources, and support you in case the market turns to you on the unpleasant side. All successful investors, past and present, had a mentor who helped them in their endeavors.

Another good source where you can ask questions and get answers is forums. We recommend two – Elite Trader and Trade2Win. But you have to be careful with the advice. The vast majority of participants are not professional traders. And its least of them are professional traders. Think carefully about all the tips that you have received and in any case do not follow all of them.

Study the experience of the great

Studying the experience of great investors of past years will give you inspiration, show you prospects and also help you evaluate the great game that is called the securities market. Great traders: Warren Buffett, Jesse Livermore, George Soros, Benjamin Graham, Peter Lynch, John Templeton and Paul Tudor Jones, among others. For example, I like the Spirits of the Market series of books written by Jack Schwager.

Read about the market and follow the market

New sites such as Yahoo Finance and Google Finance are a great resource for new investors. For more in-depth information, you can check out the Wall Street Journal and Bloomberg. It is necessary to monitor the market daily, read news about major investors, be interested in trends, read third-party forecasts, not to mention economic exercises and the general direction of the business. An excellent means of informing is the abandoned phrases and the observation of the main indicators.

Television is another way to monitor the market, and CNBC should be the most popular channel for you. Even if you turn it on for 15 minutes, it will already greatly expand your idea of investing. Do not allow yourself to be completely carried away by a certain style, just watch and immerse yourself in comments, interviews, discussions. Be careful, though, as you’ll discover over time that most investment shows are created more like a red herring, and filled with empty recommendations. This is natural selection. You’re not alone!

Consider a paid subscription option

Paying for research and education can bring both information and benefits. Some investors believe that observing professionals in the market can be more useful than trying to put into practice all the newly learned lessons. There are several good subscriptions on the Internet, the main thing is to find those that are right for you.

IMPORTANT – Be careful. Many paid subscriptions are owned by independent traders who claim to earn a lot and can teach you the same. 99% of them are scammers, the subscription costs incredibly much – from 99 to 140 dollars per month, or even more.

Go to seminars, take lessons

Seminars can provide valuable insight into the market in general and its specific types. Most seminars focus on a specific aspect of the market, and as a speaker, he has achieved success by using his own strategies for years. For example, John Zanger and Mark Minervini. Not all workshops, however, are worth the fee. Some seminars can be free and provide valuable experience, you just need to be careful.

As for lessons, they tend to be expensive, but, like seminars, they can be very useful. Seminars Villa O Neil, Bulls On Wall Street provide a huge number of courses on investment and trading.

IMPORTANT – as with paid subscriptions, you should be careful with seminars and lessons. Most of them cost more than $ 1000, and promise, falsely, valuable knowledge that will supposedly bring guaranteed profits. Their fantastic stories of huge earnings will suck you in, take away your money, and leave you with a strategy that didn’t make anyone a dime.

Buy your first security or practice trading with the help of a simulator

After setting up an account with a broker, the best continuation would be to simply dive into trading. Don’t be afraid to start small, even 1, 10 or 20 shares will serve you and show you the rules of the game.
If trading with real capital is not possible at the beginning, then it’s a good idea to consider a trading simulator. Many brokers offer virtual trading for practice.

One of the most popular mistakes that traders make is to try everything, and they just go beyond all limits. Often this mistake leads to disastrous results, and significant losses for a novice investor. It is very important to organize the portfolio properly.

The Passive Index and Warren Buffett

For most, learning seems daunting. Warren Buffett, the greatest investor of all time, recommends a passive index for individual investors, instead of trying to fight trading on their own.

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