17:28 28 May 2013
If you have then you saw a replica of how the world of trading stocks can be: everything is fast paced and time is literally money and can vanish in an instant. While modern trading is not so cut throat, the principle of risk and reward remains the same ever since the first share was traded centuries ago.
Nowadays, everyone can trade stocks and commodities. The best part is that you can do it right from the comfort of your home. Binary trading is the latest trend that is making everyone want to diversify their portfolio.
To most who are new to it, the first question is what Binary trading really is.
Binary trading is a where a trade speculates on the trend of a commodity. It might be going up or going down. The trader is responsible for making the tough calls: buy, sell or hold. The stock market is a very unpredictable mistress in that the tide can turn at any moment. In order to avoid getting smothered or drowned by it, it is important that in trading you devise a strategy.
The strategy should be such that it keeps the returns high while minimizing the risk of loss. For the strategy to work for you it must be followed religiously. There are many ways you can devise a strategy, for instance you can look at other people’s strategies. It is often said that the wise man reads from the failures and successes of others while imitating the former and avoiding the latter.
In every venture there is a significant amount of risk involved meaning that you must be stoic about the trading process itself. One can be easily bogged down by losses but it takes resilience and persistence to be success.
If you are interested in starting the binary trading journey, you can sign up for the many brokers out there. The minimum investment is USD 200 and most come with demo account where one can acquaint themselves with the basics of trading.
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