Would you think it would be reasonable for every rookie that gets in to online trading to just expect to become a millionaire? Of course not! Most people actually fail in trading, and that is not because they are unlucky, or that they just don’t have that “trading-gene” inside them. The answer is simple, they fail because they don’t want it bad enough, and they’re too lazy to do what they need to do in order to succeed. When you think of it, all people say that they want to be successful in whatever it is that they are involved with, but is that actually true? I don’t think so. Sure, they say they do, and they probably believe it to some degree, but I think most people would much rather be comfortable than successful.
It’s no secret that in order to get successful, you will need to put in a lot of hard work and dedication to become better than others, and often you have to do so for a long period of time before any reward comes your way. I always recommend reading guides on sites like forextrading.pm which is a trading portal with a lot of good information. But most people don’t want to work hard at all. You tell yourself that your job isn’t so bad, so why would you go for a new job, which might be much more close to your dream job, when it means that you have to prepare for an interview, meet and get to know new colleagues and so on. No no, it’s much nicer to just sit in front of the TV and watch movies.
Just like above a lot of traders act. They start trading after reading about it online, having heard about the massive profits that are available, and just expect to start making huge profits straight away. It’s true, the potential profits in forex trading are huge, but you won’t get them just by asking for it. You will have to put in the time and the effort and work for your money. Do you think that the most successful traders in the world make millions by spending an hour a day at their computers? Well, think again. They spend hours every day gathering knowledge by reading financial papers and articles at trading centrals. The most successful traders often dedicate their whole life to trading, and they set aside their free time and, in some cases, even their families.
So what you need to ask yourself is this: How bad do you want to be successful in trading? What are you prepared to do in order to achieve the level of success you want? When you hve set up a set of goals that you want to achieve you need to realistically work out how much effort you will have to put in, in order to actually achieve them.
Binary options has taken the trading world by storm in the last couple of years, offering a ridiculously easy financial instrument, giving hobby traders an excellent chance to get in to the financial trading world. But with so many newcomers on the scene, it can be hard to know which type of broker you want to go for. A good way to go about it is by visiting websites like binaryoptions.pm, which works as sort of a starting point for new traders. Here are six important steps to choosing the right broker.
- Choose a binary broker that offers a good return. The great thing about binary trading is that the return rates are determined in advance, so that the investor knows just exactly what to expect if he makes profit on his investment. Some brokers offers as much as 80% return on your investments, but as a rule of thumb you should aim for a broker that offers at least 70% return. If the return seem unusually high (like 90%), make sure to be aware that the site could potentially be a fraud, so make sure to look up reviews of the website before you make a deposit.
- When starting out, you might just want to trade the most common assets, such as the EUR/USD or GOLD. But the fact is that you are likely to increase your skills quite quickly, and will soon be wanting a wide range of assets to trade with. It’s much better then to have signed up to a broker that already offers that rather than having to go through the process of registering with a new broker.
- Look for protection loss. Some websites offers a return even on the trades you lose. Although losing a trade is always going to feel bad, it’s going to be a lot less painful when you find out that you will still get 15% of your original investment back. You can usually get especially good protection losses by getting special deals from trading centrals such as opcionesbinarias.pm!
- Make sure that the customer service section of the site is working properly. When you eventually run into to some sort of trouble, the last thing you’ll like to find out is that you have to wait days to receive a reply from the customer support.
- Safety first. Always go for a broker that is licensed and regulated by its countries regulating body. You can usually find information about this on the brokers “About us” page. If you can’t, make sure to send an email to their support centre to receive this information. Also check that your personal information is safely handled with SLL encryption.
- Be aware of hidden charges. With a lot of money going in and out, you don’t want to be trading with a broker that charges commission or other fees. You can find information on this on the websites Terms & Conditions.