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Absolute newbie

mrb23771mrb23771 Posts: 10 ✭
in Beginners Questions
Okay this is a question from an absolute newbie,

I've been in a very weak financial position the last fifteen years. Before that I had a good income and at that time I was investigating to start on the stock market. Unfortunately due to sickness I lost my jobank and a substantial part of my income. Now, my income is getting better, but surely money doesn't grow on trees for me.

Another part is that I need to learn and awfull lot. So you could think, should you start with binary options, simple as they look, there is a whole lot to it.

I've had contact with severall brookers , some of them promised me thousands of euro with a lousy investment of 250 euro, I don't believe in fairytales and reading books there are warnings al over.

So here is where stand, on one hand, you only learn by doing. I have little to invest about 250 euro, are there options of starting for a guy like me and keeping the risk Low?

What is the best binary option Trader?

To learn, what are the best books?

Please any tips is welcome, while beeing a newbie, I'm absolutely serious and wantique to be realistic as I can be.
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Comments

  • RM1RM1 Posts: 9 ✭
    If you want to learn, sign up with a broker that offers a demo account. Don't trade with real money! That way, you can practice with various strategies until you find one that works for you. Binary options, Forex and anything like that is all about taking calculated risks. If you learn with a live account, you might as well throw your hard-earned cash out the window! Better to learn with a pretend account until you are ready to start using real money.

    The front page of this site gives the top three recommended brokers. There's also plenty of learning material right here on this site. In fact, all you need to do is look at the links at the top of this page.
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  • The_Geek_MHThe_Geek_MH Posts: 860 mod
    Yes, there is a lot to learn and trading with a demo account is the best way to get started. You need to learn to use indicators, technical analysis and try to keep abreast of news and market events. As for your question, is 250 enough to get started with... it is, just remember to keep your trades small so that no one trade will wipe you out of the market. most traders use a percent rule, ie only trade 1, 2 3 or 5% of your account on any one trade, that way there is no question about how to put on any one trade, and the amount will always be small. Also, using the percent rule means that as your account grows so will your trade amount... 5% of 250 is 12.5, 5% of 1000 is 50. Also, I would avoid bonuses until you are confident of your strategy and management, they make withdrawals very difficult and could lead you to make bad choices. Also, stick to trusted brokers like the ones recommended by BinaryOptions.net, where users have tested and can recommend them...
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  • Mike2Mike2 Posts: 11 ✭
    From my experience I can recommend only one broker ETX Capital (etxcapital.com). They are part of Monecor Ltd. Monecor (London) Ltd is a member firm of the London Stock Exchange. Authorised and regulated by the Financial Conduct Authority with Financial Services register number 124721.
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  • DaniSDaniS Posts: 1 ✭
    edited July 2016
    Hello. I came across this site, and would appreciate your ideas..
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  • Beckz Beckz Posts: 30 admin
    Ideas about what? If you want to promote your own blog or site, please contact administrators for mutual traffic exchange.
    Best Binary Options Brokers
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  • mrb23771mrb23771 Posts: 10 ✭
    Thank you for your answers, a little late, due to movement to another house, been working to learn as suggested!
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