How to Trade on IQ Option for Beginners.

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Did you just begin trading on IQ Option? Are you wondering how to go about it? Well, wonder no more, because in this post, I show you how to trade on IQ Option as a beginning trader with no previous experience.

Note: – IQ Option offers accessibility via a mobile app, desktop version and any web browser. All these platforms are almost identical and are user-friendly.

Also take note of the IQ Option products.

This platform (IQ Option) offers Digital Options, Forex, Stocks, ETFs, Commodities and Crypto.

Digital Options on the IQ Option platform are traded on Fixed Time Mode while the rest of the assets are traded on Forex Mode.

Placing your First Successful Fixed Time Trade on IQ Option.

It is only Digital Options which are offered on Fixed Time Mode on IQ Option.

Fixed Time Trades are trades which involve investing a certain amount over a fixed amount of time, after which the trade is won or lost.

Winning earns you the specified percentage of your investment plus the invested amount.

Losing means, you lose all your invested amount.

This is how to place your first fixed time trade on IQ Option:

  • Log in to your IQ Option trading account. Or register if you don’t have an account.
  • Click on the asset button (+).
  • Select Options and Digital under the option from the list on the left.
  • Choose any asset from the list which appears on the right. Select only assets with percentages indicated on them and avoid closed assets.
  • Adjust the chart type and time frame.
  • Set the trade duration on the time button.
  • Adjust the trade size by clicking on the investment button.
  • Decide which direction the price will go, up or down.
  • If you think the price will most likely go up, hit the green call button.
  • If on the other hand, you think that the price is likely to go down, hit the red put button.
  • Wait for expiration of your trade depending on the trade duration you had set.

You will have successfully placed your first Fixed Time Trade on IQ Option.

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Placing your First Forex Trade on IQ Option.

Forex, Stocks, ETFs, Commodities and Cryptocurrencies are offered on Forex Mode on IQ Option.

Forex Trades are trades which involve predicting the direction of the price of an asset and the more the price moves in the direction you predict, the more you earn, and vice versa.

You can target specific amounts of profits by use of Take Profit Orders and limit your losses by use of Stop Loss Orders.

If the price hits your Take Profit, your trade ends in a profit depending on how much you had targeted.

However, if it hits the Stop Loss, your trade ends in a loss depending on how much you had risked.

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This is how to place your first Forex trade on IQ Option:

  • Log in to your IQ Option trading account. Or register if you don’t have an account.
  • Click on the asset button (+).
  • Choose Forex/ Stocks/ ETF/ Commodities/ Crypto from the list on the left.
  • Select any asset from the list which appears on the right.
  • Adjust the chart type and time frame.
  • Set the trade size by clicking on the investment button.
  • Adjust leverage by clicking on the leverage button.
  • Decide which direction the price will go, up or down.
  • Click on the green buy button if you anticipate that the price will rise.
  • Click on the red sell button if you anticipate a price fall.
  • On clicking either buttons, a pop-up appears.
  • To set up a Pending order, adjust the entry price at the price button.
  • To enter at the Market price, ignore the price button and let it read ‘market’.
  • Click on the Limits button and a pop-up appears.
  • To adjust Take Profit, hit the plus sign next to the Take Profit Option.
  • To adjust Stop Loss, hit the plus sign next to the Take Profit Option.
  • Once you are done adjusting such parameters, click on the save button on the pop-up.
  • To execute the trade, click on the confirm button.

By following these steps, you will have successfully placed your first Forex Trade on IQ Option.

Trading Strategy and Money Management Strategy.

To predict accurately on both Fixed Time and Forex Trades, you need a trading strategy.

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Better still, to protect and grow your account, you need a money management strategy. Both a trading strategy and a money management strategy go hand in hand if you are to make profits and preserve your capital.

How do you develop a trading strategy?

By using the various technical indicators on the IQ Option App.

Know how each works and develop a robust trading strategy by applying a few of them at once.

You can use one technical tool to read signals and another to confirm the signals.

What about the money management strategy on IQ Option?

It is also simple.

For Fixed Time Trades, you can apply the martingale money management strategy which involves doubling your trade size every time you lose and going back to the initial amount after a win.

For Forex Trades, always ensure that you use Stop Loss and Take Profit Orders, with the Take Profit at least twice the distance of the Stop Loss from the point of entry of the trade.

Trading Psychology on IQ Option.

This entails everything about your emotions while trading.

Beginners are known to react emotionally while trading, yet such is the same thing you must never do, if you ask experienced traders.

There is that fear to enter a trade, because you might lose. Let us say you lose the trade, and that is when your anger issues surface.

Most probably, you will place the next trade in response to anger and not any analysis.

There is also the overconfidence and excitement that comes with winning unexpectedly. The next trades are based on the excitement and not proper analysis.

You might also have experienced the urge to grow your account exponentially over a very short period of time and such is called greed

Greed while trading will lure you into over-trading and fatigue will set in shortly, after which you will most likely lose almost all trades.

Final thoughts.

Let your trading and money management strategies work for you and detach your emotions from your trades completely.

Happy Trading!

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