I've opened an account by iq option. The beauty is minimum positions of just one euro and a demo account.
When I got interested in binary options I had to go to a huge pile of false promises, saying you can earn easily up to thousands of euro's etc. I am to skeptical to believe that. I believe that earning money takes time, effort and dedication.
I still have to learn a lot about technical analysis and markets and also my weak points in trading attitude.
Using the demo account I came to the sobering conclusion I lose more then I win. That's alright, it's called learning.
Today I learned a valuable lesson, the importance of knowing what is going on in the market and trade accordingly. I lost initially 100 euro monopoly money and gained 300 euro monopoly money, just by actually searching for news , in this case the GBP/USD.
I still continue with my demo account, but I want to focus on forex. Basically EURO/USD GBP/USD USD/CADA. I think by first focusing on these three currency pairs would benefit me as a beginner. Second, I must learn to follow news events, interest rates, and other important news. Do you think, as experienced traders I should go for this strategy to learn and become more succesfull?
I still need a lot to learn about technical analysis, economic indicators etc., need to read many books, by focusing on just three currency pairs I think it will be easier to become more successful as a beginner. Later on I can expand my activities.
Also if you have links with forecasts, events, current interest rates, I am constantly looking, but allways open for ideas from experienced people. If you have any links, please post them.
I see books, magazines, also as an investment, cause in the end you spend money on it. Is for instance a (on a tablet) magazine like the Financial Times a good idea or a waste of money?