How to Start with Demo?

In my Previous post I told you to start with Demo and do it really well. This is very important. I think I should also tell you how to start with Demo before I go to the other factors that can help you trade successfully.

The way to start is to open a demo account with the Broker of your choice. Remember I introduce IQ Option to you as a good Broker for Starters. You can register with them and just follow the Process. Get you demo Money and start as you learn. Practice all you are learn and be the best.

You sure can follow their link here:

Letter to Traders: New and Existing

Dear Traders,

How are you doing today and how is trading going? I believe you are beginning to understand for yourself what Trading really is. I will like to share some truth with you.
Like every other Life endeavors, trading also needs diligence and consistency to gain expertise. Do not be deceived, if you have not learnt well, mastered your emotions and develop a good trading psychology, you can LOSE ALL YOUR MONEY; most especially when you are not following the simple money management rules.

So What are the Secrets of Successful trading? You may want to ask, I will give a few of them below based on my experience of winning and losing over time.

1. Choose the right Broker: Your successful trading journey- in Futures, Options, Forex or Commodities trading start with the right Broker. A broker that will not manipulate the Charts. A broker that will help you and update you with information about the market, a broker that is fully certified and can easily follow rules, a broker that will allow you to easily withdraw your money when you have to, a broker that has good customer satisfaction policies and so on. You need to choose the right broker my friend. One of such brokers that I have known to be consistent overtime is IQ Option. You can check them out for their wonderful reviews. Remember, that is just one factor out of many but it is very important. Now read further for other factors.

2. Learn the skill: You have to really be patient to Learn and Master the Trading Skills. What you have not mastered, they say will master you. Learning is key to be successful in Life. Do not be part of the generation that is looking for easy money without learning. If you try that in Trading, you will end up losing all your Money. But if you give time to learn and Learn Well, you can be sure that you are on your way to succeeding. for example, IQ Options give $10000 for DEMO Practice and you can try your skills on that very well and be sure you are good to go Live. Please, don't just jump to Live account. A word they say is enough for the ...

3. Learn the Psychology: In Life, We don't always win, sometimes we Learn(some people tag this as losing but I tag it as learning). You have to know that you cannot definitely win all trades. In fact you can lose three or four trades in a row. Learn to leave and come back later. Don't ever practice REVENGE TRADING. It is very dangerous. When you win, be Happy, When you Lose, learn. Don't over indulge so you wont lose what you have won. Don't overstay so you won't lose more when you are losing. You can never be right, It is only the Market that can be right when it comes to trading. You just have to learn to follow the Market. Observe, Analyse and Trade. If you are Correct, great. If you are wrong, it means you can win later. I cannot over emphasize this because I have fallen a victim of this before. NEVER EVER TRADE WITH THE MINDSET OF REVENGING THE MARKET. It will go bad.


Thanks for reading. I will continue from here in the future posts.
Your Friend
Kolawole

Trading isn't Bad Anyways

Trading is an active style of participating in the financial markets that seeks to outperform traditional buy-and-hold investing. Rather than trying to profit from long-term uptrends in the markets, traders look for short-term price moves to profit in both rising and falling markets.

As a trader, one of the most important things you can do to improve your chances of success is to approach trading as a business. A successful trading business requires a strategic plan that covers your actual business and your actual trading. Your business plan will include things like short and long-term goals, the amount of capital you have available for the business and how you will set up your office. Your trading plan includes the details of trading: what you will trade and how you will trade it. Your plan should be so objective and concise that you could hand it over to another trader and they would be able to execute it exactly.

It’s important to understand that your trading plan is not simply a set of rules that you think will work, a list of set-ups that you are somehow fond of, or someone else’s plan. A good trading plan is one that you have researched, tested on historical data, tested in a live market and continue to evaluate at regular intervals.

Successful trading involves more than reading a few articles or books. You should plan on devoting a substantial amount of time and effort before ever placing a trade in a live market. This can be difficult because most new traders are anxious to get in the market. While the research and time commitments may sound daunting, they're a realistic and integral part of becoming a profitable, independent trader.

This tutorial serves as an introduction to help you get started trading. For more information, be sure to check out part two of our series, which covers more advanced topics including charting, leverage, risk and strategy automation.

Source: INVESTOPEDIA

I trade on binary.com, you can check it here