Binary Options Tips: 9 tips for beginners from Robert Wichert
Do not risk real money from the beginning. Start with a demo account: any licensed broker has one. Learn to trade using a demo version as there is no difference with a real account!
Say NO to bonus! The thing is that once bonus is activated, you will need to turn it over dozens of times before you may withdraw. This is not possible for a beginner. As mentioned before: do not be greedy, be smart. Most of the brokers use the bonus trick, so just make sure you do not accept the offered bonus.
Binary option trading is where your profit entirely depends on your knowledge. Read some books or articles on trading, nowadays there are a lot of possibilities: books, ebooks, videos, etc. Please, do not believe in easy ways of earning, I am sure you will meet many magic strategies, whose authors will promise you a stable profit. Let me warn you in advance: the point of such offer is a free service but with an obligatory registration on a particular broker`s site. Be aware of such as they just want to earn a % from your deposit, or in most cases just get you involved into a pseudo broker which apparently will disappear soon.
Do not use turbo options. Turbo options is where broker earns money, not you! It is exactly on turbo options, where most beginners lose their money and disappoint in trading, while brokers earn millions. According to professional traders, on turbo options it is not possible to make a decent analysis to result in the money. Be patient, not greedy, otherwise you will lose your deposit in a day and will be among those who write angry posts declaring that binary options is a scam.
Do not use broker`s for trading. For a technical analysis it is of no use. Use another one on a free service, like TradingView. Use the broker`s chart only when placing a bid!
The most informative chart is a candle chart.
Do not try to recoup if your trading has been unsuccessful. Thus you will lose your deposit. No emotions, no excitement, just cold head! Trading is a work, not game. Also, I do not recommend to use the OPEC decisions – all that influences on Forex market and particularly, on your trading strategies.