Every milli-second a pip on a forex trade is fluctuating, potentially making its investor’s money off of its trade.
Bit Options trading offers South Africans an exciting, complex opportunity that differs from other investment options currently available on the market.
With its complexity, comes high-risk, and the intelligent investor recognizes this.
Even still, we’ve provided a few important keys to building a successful portfolio that differ from the other resources we’ve provided.
Truly the most important tip for any beginner, or any trader, is to spend their time researching the subject they wish to invest in. This means a passionate drive to learn about every aspect of what you wish to trade.
Areas of focus could include the price trend of the forex, the length of time the asset has existed, and the success of other traders who have traded the asset itself.
It also certainly doesn’t help to pursue an education in the subject, however resources of similar quality are available to you online. From YouTube videos, to online courses, it has never been easier for a South African to learn how to day trade.
Research should take up the most time out of the whole process, with the actual trading taking up the smallest amount.
In effect, once you are done researching, it could be time to trade for real, or utilize demo markets and videos to learn more.
Using Demo-Markets and Watching Tutorials
When you are watching a forex, often times it is possible to use demos to play with a pretend market before you dive in with your real-funds. For beginners this resource is a great tool to work your way through your initial strategies, as it mirrors the actual market you are demoing.
With the popularity of YouTube for virtually any niche, many you tubers offer tutorials on their demo trading, as well as their own advice on what platforms to use. For this reason, this aspect of your research should be focused upon the most.
Opening up your account the right way
In South Africa, the most popular way to trade binary options is through now through individually-controlled segregated user accounts. Most require you to include a minimum deposit, which is typically lower than 200 rand. This makes it easy for anyone to open an account.
Through these user platforms, you’re able to trade your binary options, track information, as well as bolster your research.
After choosing the right website, with the right terms that fit to your budget, be sure to carefully read the terms of the agreement before signing up. Once you’re satisfied, it’s time to start trading.
Conducting 60 second trades.
While there are many websites that offer return rates as high as 90%, most offer close to 70% as a realistic return. As you make your bid, there is always the chance that the price you wish to see your asset at will not reach, and as such your percentage will go down if you lose. This makes it necessary to conduct as many trades as possible, which is the reason most traders (especially those just beginning) focus on sixty second trades.
Setting your limits and how you will trade
While some traders set certain time limits for their trades, it is up to you to determine that. Done correctly, trading binary options can be a very profitable venture for the smart investor willing to take the risks needed to get into a new enterprise.
In short, while part of the key to your success is the research you do, our partners are here to help you reach it.