How to learn binary options, forex and cryptocurrency trading on your own

Over the past 5-10 years, the development of global financial markets has led to an increase in the popularity of such an important, by far, the segment as online trading. Statistical observations show that practically every computer owner with access to the Internet at least superficially studied how traders work, how much you can earn by doing online trading and where to get the necessary knowledge and practical experience. More determined potential traders are actively searching for web resources that provide access to trading tools on the most favorable terms. This trend is observed today.

The main problems of the considered method of making profit using the Internet


But a new segment of the global financial market quickly enough fell into the category of a problematic sphere of activity.

  • The absence of legislation regulating the rights and obligations of online trading entities has contributed to the emergence of a wide variety of fraudulent schemes, many of which, despite serious financial consequences, were not even criminally punishable.
  • The so-called “retail market” allowed for a long period of time to use the money of its customers, without fear of fraud charges. Some scammers created their own structures, the activities of which combined the principles of the bookmakers, financial pyramids and credit institutions. It was very difficult to prove that the owners of such companies were engaged in something criminal.
  • But the main problem of online trading is the lack of qualified specialists. This area of activity requires experienced traders who understand well the principles of the financial markets, the mechanism for generating trader income, are able to analyze political and economic events, make forecasts, etc.
  • Based on the information presented, we can conclude: if you plan to conclude transactions for the purchase / sale of trading assets, then you definitely need to get at least basic knowledge in this segment of the global financial market.

Where to begin?


Studying the structure of the “retail market” of trading assets, we can conclude that among its participants most often there are entities who perceive the operations of buying / selling financial instruments as a gamble, casino or bookmaker. However, many of them deny this fact. Question: why so mock yourself? If you like risk, excitement, sharp emotional outbursts, then register an account in a casino and get everything that interests you.

If you carry out mathematical calculations, then you will see that on gambling platforms the probability of winning a decent amount is much higher than on the Forex broker web site or on the site where binary options / cryptocurrencies are operated. So, the number one task is to choose a behavior strategy. If you believe in luck, and do not plan to study, then you can sincerely say goodbye, wishing each other maximum luck and positive.

Readers who are determined to engage in online trading should move on to the next conditional "level of training."

The main goal of a beginner in the preparatory phase is to study terminology and theory. At the same time, you should not only know the definition of what binary options, slot, volatility or leverage are, you need to understand the meaning of these terms, independently identify the existing relationships between them, etc.

In parallel with the study and analysis of the main concepts of online trading, you need to look at the web resources of famous brokers, try to take the "first steps", concluding transactions in a demo mode.

The next important step is to study the methods of analysis that exist today. If the fundamental analysis is based on macroeconomic indicators, reports of large corporations, important political events, then the technical analysis is directly “tied” to the parameters you are interested in. Gradually, collecting and studying this information, you will begin to understand the structure and mechanism of functioning of indicators that affect the binary options markets, Forex and cryptocurrencies.

The next stage of self-training for the future trader


We single out the main factors without which it is unrealistic (at least very difficult) to complete a training course for a successful trader:

  • Choose a service and the corresponding trading style.
  • Check them out using the demo versions provided for these online trading directions.
  • Perform an analysis of known strategies or prepare your own algorithm for conducting productive rounds.
  • Make a list of resources that best meet your needs, examine their strengths / weaknesses and leave the most suitable platforms.
  • Learn how to replenish gaming accounts and withdraw funds won, calculate how much the services of such services cost.
  • Before you begin a serious game, check in practice, as the selected site you react to political news, major changes in the world economy and the like.

Conclusion


The main goal of the above steps is to clearly understand how traders and other participants in the market are working and how suitable they are for implementing your plans. Some beginners use alternatives to achieve the same goals. As a rule, they find a reliable platform and a good mentor (preferably on a paid basis). As a result, he will be provided with relevant examples, help to sort out the pros / cons of strategies of interest, etc. But in any case, everyone has the right to decide for himself how to learn online trading.

Source   Forex Columns
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