Become an awesome trader: 5 steps

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Becoming a professional trader is the dream of many, certainly of all those who approach online trading. Also, because being a professional trader means to earn a lot and to conquer that financial freedom that is, after all, the object of everyone’s desire. The climb to professionalism, however, is difficult, and not everyone can reach the top. You need dedication, discipline and even a bit of luck. It may be useful, for those who dream of becoming a professional trader, to remember what are the 5 basic steps (see more here).

Study

FIrst step

The study is a fundamental component for the life of a trader. In particular, the analytical tools require the most intellectual resources. We need to learn how to perform technical analysis and fundamental analysis. The first is the study of the chart and prices in order to draw signals about the future of the asset, while the second is the study of economic events outside the market, always with the same purpose.

Practice

Once the aspiring trader has assimilated the theory, it is necessary to practice. Here too the question of “how” takes on a certain importance. The only way to practice would be to enter the market and invest. This exposes the beginner to significant dangers, as the risk of losing his capital. So, what to do? Brokers help beginners and offer demo accounts alongside traditional and real accounts. These allow you to trade in the real market but with fake money.

However, the most alarming statistic for those beginning a career in Forex trader is that only 15% of investors in the currency market end the year in earnings, thus bringing home some results. That’s why we also recommend you to:

Keep an overview

It is not enough to learn a trading system and use some pre-packaged techniques to be a trader. You can certainly learn, and in a short time, how to use an indicator, or to read the signals that come from the study of the chart. All this is a necessary asset for conscious trading, but it is not enough: technical knowledge must be integrated with the study of factors external to the market that can influence the price. Only a good analysis of the socio-economic conditions related to investments can provide an overview that can help the trader in the right choice.

 Develop the discipline

In the most famous films, traders are unruly, exuberant, improvisers. Well, it’s a completely wrong view. The real trader is a scholar: he analyses, ponders and only then acts. It is certainly an activity that requires its times, composed of steps that can be boring.

Accept the losses

This is a “psychological” passage of fundamental importance (check it here). It is clear: nobody likes losing, in trading as in life. Yet, sooner or later we are called to take a decisive step: learn to accept defeats. This is true in life, which is certainly studded with ups and downs, but is even more valuable in trading. Sooner or later, and in the young life of the beginner sooner rather than later, defeat comes to visit. And it does so with the traditional burden of disappointment and disillusionment, as well as desperation for the loss of money.

Olymp Trade: all you need to know

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Olymp Trade

Information, advantages and disadvantages of the broker platform

Olymp Trade is a new but ambitious binary options broker. In fact, it combines the best existing functions in the industry with an easy-to-use platform and a user-friendly interface, thus establishing a completely new level of quality of service.
The broker turns out to be ideal both for professional traders with many years of experience and beginners: for the latter, in fact, there is the possibility of creating a demo account, which can be used simultaneously with a real one, while for the most experienced users there are numerous tools aimed at analyzing and improving the understanding of the market. But not only that: among the advantages of this broker there are also the low minimum amount for a deposit, the mentorship of the trader during the course with free and in-depth trading lessons, analysis of the market with professional tools, and an incredibly efficient customer support service.


Olymp Trade offers a wide range of investment instruments: 8 currency pairs, commodities, indices, individual securities and the bitcoin index, plus the classic “call/put” binary options, with an expiration time ranging from one minute to three hours. The most popular currency combinations in the platform include EUR, USD, RUB, AUD, CAD, CHF, GBP and JPY, but gold, silver and oil are also available. There is the possibility of trading with stock indices such as Dow Jones, DAX, S & P 500 and Nasdaq, and with a wide range of individual corporate securities, including Apple, IBM, Microsoft, Coca-Cola, Facebook and other multinationals. In addition to this, Olymp Trade also offers 24-hour trading in Bitcoin.

 

Numbers

Some numbers: the minimum deposit with which you can top up your account (not demo) is 10$ or 10€. The minimum amount necessary for trading is low too: 1$ / 1€. As for the demo account, however, there is something new: unlike most other brokers, on Olymp Trade you can use a demo account in parallel with a real one, passing from one to another with a special link. Every trader can experiment with 10,000 “demo-dollars” in order to safely develop his/her skills and to test trading strategies. The only difference between the demo account and the real one is that virtual funds can not be converted into real money and you need to make a real deposit to start real trading.
The welcome bonus is excellent: it reaches up to 50% on the first deposits, depending on the amount deposited; it is important to note, however, that the bonus can only be used for trading and it is not available for withdrawal. The latter is generally free, there are no withdrawal fees.

A particular note on security: Olymptrade is regulated by the FRRMC (Financial Regulation Relations Center Center) reference number 0395AAVv0074, which guarantees the reliability of the trading platform and offers its customers advantages such as the resolution of legal disputes and the filing in case of brokers violations.

But there is also a negative aspect: at the moment there is no app for Windows. Only standard mobile applications are available for Android and iOS, a complete app for Windows has not been announced yet.

5 things that (maybe) you do not know about Forex

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Facts

There are many interesting facts and facts about Forex, it’s time to find out if you know them all. Do you know how many machines can you buy with all the money that is exchanged every day in the currency market?

Here are the 10 things that (maybe) you do not know about Forex.

1) How many machines can you buy with a single day trading volume on Forex?

Considering that $ 5.3 trillion is exchanged each day, you may be able to show up a good car for any family living in America, and you would still have enough money to buy another for each of them.

2) The United Kingdom has the largest Forex market in the world

You might think that the United States is the leader, but 41% of all Forex transactions occur during the London session, and only 19% occurs in the US session.

3) The currency market has biblical origins

Currency markets are not a new invention.
The exchange between currencies is mentioned in the Talmud, which dates back to biblical times. A commission was paid to the money changers, of course.

4) The worst inflation in the history of currencies

Erroneously, we think that exchange rates will suffer only minor variations, but it is not as much as the citizens of Zimbabwe can testify for what happened in 2008. Currency inflation was the worst in all of history, with a rate of 6.56 sextillions (10 to the 21st). Fortunately we were not long on the local currency.

5) Many forex traders fail to close the year in profit

We all want to make money by investing in the Forex market, but many do not make it. According to recent research, as many as 99.6% of private traders fail to close four consecutive quarters positively.

 

Earning with forex trading: 3 useful tips

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Tips

Although the forex market is the richest market in the world, about 4 trillion dollars are traded internally, there are many people who still do not know the advantages of this market and who believe that trading is only related to the sale of shares.

Trading online

1st tip: invest only what you can risk

Investing is not a game, although it may feel as it. You have to pay close attention to the capital invested: this greatly affects the emotional aspect of the investment. The invested capital must not in any way serve you: if you invest a sum of money you need and you lose it, you will want to earn at all costs and you will easily become victim of scams.

2nd tip: plan your earnings

In order to get somewhere you must have a goal to reach, otherwise you start wandering and when you wander you can not even get where you hoped. Plan your earnings, then establish how much you want to earn in a year. Yes, it seems strange to talk about deciding how much you want to earn, but that’s exactly how you have to start. Obviously, you do not have to be a dreamer: you have to plan your goals realistically. If you deposited an amount of € 1,000, do not plan to earn € 100,000 in a month.

3th tip: plan a strategy

The strategy is at the base of the online trading activity in the forex market, is the basis of all the trading activity and must be a carrier. There are many trading strategies that can be used to earn money, some of which are based on technical analysis, others are based on fundamental analysis, that is, macroeconomic analysis.

We always recommend that you use both approaches because only in this way can you make significant gains.