How to Start Trading in the Market for a Novice on OlympTrade
If you decide to invest, imagine that you are going on a long trip, so before you start, you should consider a number of important points and answer some common questions.
1. What are your financial goals and your investment horizons? Do you want profit tomorrow or are you ready to wait a few years?
2. What would you like to invest in and how much money can you allocate now and in the future to achieve your goals?
3. Do you have short-term financial needs and will you need to live only on investments in the coming years or will there be additional income?
Find further answers to most of the common questions that are of interest to novice traders. Likewise, investing does not tolerate negligence in planning. The exact numbers in your initial plan are the key to a meaningful path in the future.
Like any long trip, trading require at least a small initial amount that you are willing to risk without serious consequences for your finances. There are some important questions here. In the market, start to traded only a small fraction of your free cash, for instance, no more than one fifth of your free funds. It is also not advisable to borrow money for this with the thought of quickly earning large profits.
There are always risks, so in case of necessity to back the initial capital to lenders prevails over you, this will lead to psychological disturbance and will lead to number of errs. To start trading is only worth your free money from a part of your savings.
How to Start The Trader Career?
One of the most important steps is choosing a broker. This affects the final success of the event, since the choice of a broker determines the set of your opportunities in the investment process. Olymp Trade is chosen by many for such understandable parameters as the convenience of opening an account, the size of the fee, the initial investment amount, trading platforms, etc.
At any time when you realize that you are ready for the real market, just open an account with the broker of your choice, get money and start making transactions. However, do not rush to enter the entire amount available, since there is one important point that is often ignored and then paid dearly by beginners.
This is a psychology that often becomes a stumbling block for inexperienced investors. Trading with real funds is psychologically different from trading with virtual funds, as you may encounter a number of psychological traps that will interfere with your trading plans.
Which Assets to Choose for Trading?
First of all Forex trading. The conditions here are very tempting, as the minimum starting capital is from $ 10 and trading 24 hours a day, 5 days a week. This gives more trading signals in a shorter time.
You can also choose Fixed Time, Stocks, ETFs and other assets that can be traded in completely different ways and in any term from one-day positions to long-term ones.
Having acquired a little experience at Olymp Trade, you can earn 50 thousand dollars with a minimum stake of 10 dollars, such cases have already been on the platform more than once. In general, newcomers can earn very little on the exchange at first. But that’s okay, as long as you don’t learn the intricacies of trading through practice.
Open an Account
The registration process today is so simple that even a beginner can handle it. Just click on the “Register” button and fill out the form with your e-mail, phone number with the name, and other things.
The main thing is to indicate the correct contact phone number, because passwords, keys and notifications will be sent to it. In addition, after registration, the company manager may call you to help you choose the type of account, make a deposit and show other points.
The trading platform is accessed through different software. There are desktop application, web terminal for browser and apps for mobile devices. After you have registered, opened a trading account and made a deposit, download the software on the Olymp Trade website, enter your account login and password. Now you can start trading.
Download for free from the official website of the broker one of 4 options of the trading terminal available at Olymp Trade and install it on your computer or mobile device.
Trade With Mind
Olymp Trade can offer a large number of educational materials on a variety of topics in the training section of our website. Also, for beginners, we can offer a short instruction on which ones are the best to start mastering the investment craft.
In addition to training materials, if desired, you can find a number of courses on the stock market for beginners. The amenity of technology is that today you can study online, often even free of charge, like at Olymp Trade webinars.
At the initial stage, you must decide whether you will be an investor or a speculator, which stocks to include in your investment portfolio, and which trading system you will follow. The fact is that for a stable profit from trading in financial markets, one must strictly adhere to certain rules that the investor determines for himself empirically. The set of such rules that determine the moment of entry and exit from the market, the volume of investments and the choice of a financial instrument is a trading system.
Practice Leads to Success
As part of the first steps on the market, we recommend that you do not neglect demo trading. Even if funds allow you to spend a significant amount on gaining experience and testing various strategies, there are a number of nuances that do not require material costs.
The demo account Olymp Trade allows you to learn on the amount of $ 10,000 without incurring any losses. Within the framework of educational trading, you will be able to study the trading terminal, see real orders, get your hands on, correct minor technical mistakes when testing trading ideas. And all this is risk-free and absolutely free.
Do Trade like Your Own Business
Over time, you yourself will probably understand what you are missing in the work on the exchange. Perhaps you need expert help and trading advice, which you can get on Olymp Trade webinars, as well as in the large community where you can communicate with traders and get advice. Use analytics and do extra training all the time. Remember only one important point: almost everyone can make money on the stock market.