A community of traders

In the forex trading world, everyone have their own kind of strategy that works for them (hopefully!). Sure, there are several different strategy guides online, some of which are full of great, useful information, but somehow we tend to take that information, use it, but make our own tweaks to it resulting in a more personal strategy. That is what so good about Forex trading. It makes it much more diverse than for example online gambling, where there are mathematically calculated strategies that are optimal for each and every game, and yet they don’t even give us the upper hand in the game.

So when I first started trading currencies, I didn’t know much about it. I had read some guides, but they were mainly about how to actually execute a trade and not so much about strategy. It was not until after a few months that I actually started to get in to the theory of it all, and that is also the point where I first started to make good profit of trading.

As for theory, there are many ways to find good information. Thankfully enough, most forex brokers today offer basic strategy guides and articles on how to turn things in your favor. There are also websites such as forextrading.pm, which isn’t a broker, but a portal to currency trading which helps people to get going as well as providing recommendations of good online forex brokers with a good reputation. There’s another website called cambio divisas which is targeted towards spanish speaking traders.

I think the guides re all well and good, they are great for picking up the basics and get going butif you ask me personally where I have gained the most valuable knowledge, the answer is simple: from fellow traders! There are certain forex brokers out there which have put  great deal of effort in to making their platforms into a social network as well as a trading centre. This means you can get access to see what other people are trading as well as exchanging tips on good future trades, but it’s also a great place to network and make new friends. If you are interested in currency trading, wouldn’t you like to have some friends that have the same interest?

What to look for in a binary options website

Although the selection of binary trading brokers online today isn’t nearly as large as it is in online casino gaming, for example, there are still enough brokers out there to make it hard to choose the right one. As a beginner it’s not always easy to know what sort of things to look for, but here’s a little guide to choosing the right binary broker.

Start of by finding a broker with a good selection of assets to choose from. Most brokers offer assets in stocks, indices, currencies and commodities. The reason you want to have a large selection is so that when you do get a good feeling about a certain asset, you want to quickly be able to trade it, and if you broker does not support trades in that particular asset you might find yourself having to sign up to a new broker, which will make you lose time and possibly losing money as well. The most popular assets are EUR/USD, Gold, Apple, Google and a few more, but ultimately you want to find a broker that offers all the popular assets as well as the more obscure and unknown ones.

One thing I always look at before signing up to a broker is the payout rate. You want to trade at a website that will generate as much profit as possible for a successful trade, and usually I go for websites with a minimum of 70% payout rates, although some brokers offers up to 81%. You can find trustworthy brokers with high payout rates at binary trading portals such as binarytrading.pm if you are interested, which includes reviews of trusted binary brokers that offers high payouts, binary options demo account, good support and bonuses. For spanish speaking binary traders, we warmly recommend opciones binarias.

The third thing I want to see is the websites expiry times. Different websites offer different expiry times, and I want to play at sites that offer both long and short. Certain websites today offers trades with options that have an expiry time of 60 seconds, which really gives an opportunity to make large profits in a very short amount of time. Sometimes you can also find options with expiry times of a few days. It’s always good to pick a website which has both, as you’re going to need them all.

One final thing, that I think is essential to a new trader without much experience, is to pick a broker that not only offers binary options, but also some education. Some websites have entire sections dedicated to that, where members can take part in webinars, get free eBooks as well getting assigned personal account managers, whose job it is to give advice when you need it.