1. GET A BINARY OPTIONS TRADING DEMO ACCOUNT
The first step towards trading is to get familiar with the financial instruments you are going to use. This simply means you have to learn how trading works. And the best way to learn is by practice and your own experience.
You don't want to start trading by making a real investment and you don't want to practice trading with real money. That's why you need a free demo account. There are a few very good brokers who offer free no-deposit demo accounts. It is very easy and safe to open a free demo account with these brokers.
- For traders from USA, EU and other world countries, one of the best options is to open a brokerage account through the Binary Options Auto Trader system.
- Alternatively, if you are not from the USA or EU counties, one of the best brokers I personally love to use is Binary.com. With this broker, you can also use my own binary options trading robot.
2. GET BASIC TRADING EDUCATION - VIDEOS, WEBINARS, GUIDES & MORE ...
You can get the basic information and trading education on the brokerage platforms where you registered the demo account (see step 1). You have to understand that brokers will provide you the basic trading education, and in some cases some simple trading strategies. Their educational section includes very simple tutorials where you will learn:
- How binary options trading works,
- what are your trading possibilities and instruments,
- how to control your risk,
- and how to use the trading platform.
3. LEARN HOW TO USE TRADING INDICATORS AND TRADE WITH TECHNICAL ANALYSIS
If you decide to trade manually the understanding of trading charts and trading indicators is the most basic knowledge that every trader should have.
Even if you decide to use trading signals or auto traders (where no trading experience is needed), it is highly advised to get familiar with basics of technical analysis.
You can get lots of basic and advanced information on this website. It is advised to start researching by taking a look at Tutorials, Indicators and Strategies sections on this website.
4. GET A HIGH QUALITY SIGNALS SERVICE OR ROBOT
An alternative approach, which allows you to skip the process of learning, is offered by many trading support services. These are various signals services, trading robots or social trading platforms, where you can follow other traders or use different trading algorithms.
One of such is the previously mentioned Auto Trader, exclusively built for binary options.
With the growing popularity of cryptocurrencies, there are a few automated trading solutions, such as the popular Cryptowealth system or Crypto Trader.
If you manage to find a good service that fits your risk and profitability expectations and will make you profitable in the long-term, then using such service can be an excellent shortcut towards profitability.
Personally, I have also developed my own automated trading system for Binary Options. It's called Real Binary Options Robot. It might not be as profitable as some other solutions, however, the system is able to provide relatively stable profit with relatively small risk fluctuations. Don't hesitate to check it out.