To answer this difficult question, to start we will decide on the concept of trading as such . Trading is a business which purpose is receiving profit. The trader’s profession for many is associated with big money, wealth, luxury, expensive things, and at first sight it seems not such difficult, so appealing. However, in practice everything is a little differently. Really, it is possible to earn with trading big money, but it is necessary to come to it, having done titanic work,having gone through dozens of sleepless nights , sneers of friends, nervous breakdowns and, perhaps, even a depression. .But in this article you are sure find an answer.How to become the trader from scratch – a difficult question, which can only answer the most persistent and purposeful.
The first step: determining the direction of trade
The first thing what future trader needs to decide on, it is a platform for earnings. It can be the market Forex, binary options, stock market or something else. Certainly, all these directions have much in common, but they have also characteristics which need to be considered from the very beginning of training. So, the first rule: you should decide on the market on which you plan to earn.
the second Step: training
After you have decided on the choice of market, it is necessary to begin training in trading. Planning to become the trader from scratch, it is necessary to use the following directions of training, it is selective or in a complex:
- Courses, seminars, lectures for the beginning traders. Usually such actions are organized by the leading broker companies or the dealing centers and carried out on a paid basis.
- Distance learning. Webinars, videoconferences or lectures. Such training is less effective, than the previous option, but it is more convenient in respect of saving of time and means.
- Independent training in trading from scratch by means of video lessons and reading the corresponding literature. The option is free, but the least productive. Because of having decided to comprehend treyling elements independently, you risk missing important aspects, with the result that you will make many mistakes in trade which can lead you to crash.
Training in trading will develop the professional terminology of the stock and currency markets, the basic principles of the fundamental and technical analysis, psychology of trading and technology of identification of reefs of the market.
Basic training in trading usually lasts from 1 to 3 months.
The third Step : the choice of the broker and training on a demo account
Having gained basic knowledge in the area of trading, it is necessary to begin practice to lose own means without risk. Here will come to help the demo account.It is desirable to open it at that broker on platform that you plan to continue to maintain a real trade . It is necessary to choose the binary broker taking account into the available advantages, such as:
- good reputation,
- availability controller license and liquidity provider,
- the big list of indicators in the trade terminal,
- risk-free transactions,
- free signals and analytics,
- no deposit bonuses,
- a wide choice of payment systems for the I / O resources.
remember, hasty choice of binary options broker can lead to irreversible negative consequences, up to total loss of the deposit if the broker chosen by you simply isn’t able or won’t want to satisfy those trade conditions on which your strategy is based.
For this reason, many beginning traders of binary options prefer to use services of the leading broker companies offering a demo account on Meta-trader platforms or identical, avoiding use of web platforms with a limited set of options. And it is absolutely correct course because binary trading demands on understanding of all subtleties of the terminal, no less than the classical trade on forex.
So, training on a demo account will allow:
- to explore all possibilities for your binary broker trading platform,
- to understand real market behavior ,
- to decide on your own trading strategy..
Here is the most important not to overstay on a demo account as the habit of risk-free operating by virtual means when having merged all deposit on one account, it is always possible to open the new account with the new deposit, can develop into absolutely inadequate perception of the market conduct and loss of real resources.
The fourth step. Opening of the trading account and obtaining the real income
This is a step worth doing only if you are confident passed all previous distance and stand firmly on your feet. Because the fourth step is the most responsible also demands on the maximum concentration of efforts and lays responsibility on you. Having opened the real account, the main thing, to begin a trade in small volumes. So it will be easier to overcome fear of the risk of losing money as a result of unsuccessful trading activities, to level passion which usually comes to those who well begin, and it makes it so that they finish badly, and also develop your own trading strategy that is bound to be successful if you are the most concentrated.
To become the trader from scratch, it is not easy to get an answer to the question of how to start, but the answer to the question of how to start trading with small amounts of money, and even at all without money. Here come to the aid of binary brokers with no deposit bonus offering an opportunity offering the ability to open accounts with a minimum deposit of 5 or 10 usd. The accounts opened at several such brokers will allow you not only to diversify risks, but also to learn to develop and test new strategy and to reduce percent of rash risks which commission is inevitable for the beginning trader.
The fifth Step . the Improvement and growth
The pinnacle for every ambitious trader is to get a stockbroker status. If the trader shows impressive results throughout the long period of time, he will surely come into the view of investors. And it is a fine way to increase the deposit sum without injection of own means. Trading on the investors’ funds, the trader always earns generous reward in the form of percent from earned by him profit and doesn’t risk his own means in case of unsuccessful trade actions. Nevertheless, reputation for such trader – something much more important, than financial losses.That is why, each trader who has managed to win good reputation greatly values it and constantly improves the knowledge and experience improve their knowledge and experience in the application of new strategies, contributing to increase the profitability of its accounts.
Constant growth and development, studying of the financial markets behavioural tendencies , development and practical application of new strategy, continued work on yourself– the success of any experienced trader who, like everyone else, had once started from scratch.
Do not be afraid to start from scratch, to make the amount with many zeros.