A second income would help many families lead a more stable and fulfilling quality of life. There are few hobbies like forex and options trading, that have the potential to change lives. Successful traders can earn enough to quit their day jobs. Often people are nervous to take the steps necessary to invest with confidence. This article will address some of the key concerns that keep people from transitioning into prosperous traders.
do I start trading?
First, you must register with a broker. When choosing a broker to work with you want to find one you can trust. For example, Olymp Trade is an award-winning Financial Commission member operating since 2014. Once registration is complete, a trading account and demo account with $10,000 Demo dollars are opened automatically. The minimum deposit is $10 / €10 and the minimum trade amount is $1 / €1.
After the accounts have been
established take time to understand the markets. Options are predictions a
trader makes about whether the price of an asset will rise or fall after a
period of time. Forex is the practice of trading pairs to either profit from
the price increase or decrease.
Olymp Trade has a large educational
suite to help new investors become
acclimated to the markets, tools, and strategies that make a successful trader.
With 72 assets (currency pairs, stocks, indices, commodities, and cryptocurrencies) to trade, understanding the markets
and how to best operate within them is essential.
do I make a trade?
Let’s look at Options, as they are the simpler of the two. Choose an asset, decide how much to invest, and set the time after which your prediction will prove correct (execution time). Using a strategy to help predict whether the price will move up or down is a key part of any great trainer’s tool kit. When an option is opened successfully, a trader’s profit can be as high as 92%. Their profits depend directly on market volatility; the higher the volatility, the higher the profit.
The Olymp Trade platform has a
built-in Assistant to explain the 20+ indicators as a part of its educational suite.
Brimming with descriptions of the entire platform and its tool, the site’s
Assistant is able to answer almost any question a trader could have.
On the Olymp Trade platform,
execution times range from a minute to 3 hours. Traders decide whether the
asset’s price will go up or down in a specific time frame and press either the
Up button or the Down button if they think that the price will go down. Once the time has
elapsed the prediction will have come true or not. If correct, the trader
receives his or her instant payout.
Assets include currency pairs,
stocks, indices, and commodities. They are the foundation of an option. When trading options, currency
pairs, commodities (gold, oil), key stock exchange indices and stocks can be
traded. All Olymp Trade assets are described in detail on their site.
is market volatility?
Volatility is the instability in an
asset’s price on an exchange over a specific period of time. It is a statistical
financial indicator of the variability of the price, meaning it measures the
likelihood of changes. The higher the volatility, the higher the risk, and the
higher the percent profit. At the same time, the volatility figure also makes
it possible for a trader to estimate potential profit.
do I make a deposit?
Deposits are made quickly and easily through one of 20 methods. Click the «Make a deposit» button on the platform, select “Live account – Deposit from $10”, choose the payment method, and then click on the Deposit button. You will be offered a bonus to double the amount you import. The minimum withdrawal amount is also $10.
For a VIP account, a trader must deposit the required amount (approximately $2000). VIP traders are given higher payout rates, forex trade multipliers, as well as the ability to make risk-free trades.
Olymp Trade was
built to be the easiest to use trading platform available. Its simplistic
interface and streamlined technology allow traders of all levels to quickly
master trading. There are many platforms to choose from, but none are as
dedicated to ensuring their users are able to maximize their earning potential
as Olymp Trade.
Let Olymp Trade help you change your