Nowadays, you see commercials for forex trading and binary options everywhere. I see it on the commercial breaks on TV, as well as on youtube, and there are thousands of banners up on the internet for various brokers. I have been into online trading for about three years now, and although I might not be a millionaire, I make a fair amount of money off of it, and it’s nice to have a source of income on the side of my job. I know that when I first started trading, maybe two years ago, I felt very confused. At first I didn’t really think I’d be able to do it, but I soon realized that it wasn’t at all as hard as I thought it was going to be. I thought that in order to be a trader, surely you would have had an education in finance or be working in a bank or an investment firm. But when I found a website called Forex Trading PM, I made the discovery that this wasn’t really hard at all. I mean, the idea behind it is as simple as this: You buy something for a lower price than you sell it for.
After reading through a couple of helpful guides I decided to get started. I had read a tip somewhere that the best way to get started was to create a demo account with one of the bigger brokers online, so I did create an account at eToro, which is one of the main brokers for forex trading. They also have the advantage of having a social community as part of their platform, so if you’re new to trading, you can easily get in touch with more experienced traders in order to find answers to your questions. So, I had a demo account done, and this meant I could now try the trading platformout without having to spend any money. Basically, you get all this “play money” into your account. This way you can test your skills and learn how everything works before you make a deposit.
I continued like this for a week or two, until my results were starting to get good enough that I thought it was time to put some real money into this, and so I deposited some money in to my account. One thing that I think is important that you know here, is that the game changes completely when you trade with real money. When I was just messing around, I was pretty fearless and didn’t have any problems investing in high risk trades – But when you are trading with your own money, you suddenly become more cautious to these high risk trades. However, this isn’t a bad thing, although you can’t become too careful when you are trading, because then it will take you ages to profit from this. It’s all about weighing the risk to the reward and make a decision based on this.
As soon as I was starting to get some god results in forex trading, I decided that I wanted to expand my trading skills, so I decided to try out binary options. After reading a few guides on the subject at binaryoptions.pm, I decided to start an account. Binary options are quite similar to forex trading, although the trades work differently – if you read the guides on the site I mentioned above you will find out. I think this is the best way to get started in trading. Begin with forex trading, and when you feel like you know how it all works – move on and try out binary options, where the rewards are even higher!