Before I show you how to place your first trade on IQ Option, I’d suggest you first read this article on how to open a Demo account.
After that, familiarize yourself with the IQ Option trading interface here.
Otherwise, here’s the guide on how to trade with IQ Option as a beginner.
Two things you need to internalize before you place your first trade on IQ Option though;
Trading options have an expiry time. This means that every trade or position you open closes after a specific period.
Therefore, as a trader, you will need to determine the time you are willing to hold (buy or sell) an option.
Once the option expires, either of the following happens.
- The winning trade earns you profit or.
- You suffer a loss if you lose a trade.
Pay attention to the countdown to determine how long a trade will last.
- Price trend.
In a nutshell, the price can be up, down, or ranging.
If after analyzing the trade, you believe that the price will be higher after the trade expiry, click on the “Higher” button to enter a buy position (Or press on the green button as in your chart).
On the other hand, if you think it’s going to be lower, use the “Lower/RED button” to enter a sell position.
Other things to pay attention to on the trading chart include: –
- Return/Profits – this is the profit you stand to reap if your trade wins.
- Amount – how much you are willing to invest in the trade.
Let me repeat this:
Make sure you understand all of these fundamentals before placing your trade on IQ Option.
Now, let’s look at how to trade
Placing your first options trade on IQ Option.
- Choose your trading instrument. For example, from the screenshot above, I’m trading AUD/USD.
- Determine the direction of the trend.
- Enter your trade (open a position) by either clicking the GREEN or RED button.
You are now an options trader!
While this is all you have to do place your trade on IQ Option, you need to keep an eye on several things for maximum profitability.
This is the amount of return you stand to gain if the trade goes your way. So, depending on your daily income target, this feature can help you refine how you trade options.
This is the time the trade will take before it expires. After that, you know whether your trade earned profit or lost money.
Profit after the sale.
If you’ve opened a trade and have earned substantial profit but you feel that the trade might start losing money, you can exit the trade before its expiry time. You can do this using the profit for sale feature on IQ Option.
For the above trade, I can click on the “sell” order if I want to exit before the 1 minute has elapsed.
While this is useful, there’s one downside.
You cannot exit a trade after your timer hits 10 seconds. In that case, you’ll have to wait until the trade expires.
Now that you know how to place your first trade on IQ Option, how do you trade successfully?
Tips to help you place a successful first trade on IQ Option
As a beginner trader, there’s so much going on and too much information bombarding you.
This makes it hard to focus on what’s important when trading on IQ Option.
To help you trade successfully as a beginner on IQ Option, prioritize the following:
- Learn how to identify trends using technical as well as fundamental analysis.
- Know how to pick the right financial instrument for trading.
- Master how to manage your emotions and account balance.
Looking at all of these factors, you realize that it takes time to be good at it.
This brings me to this very important point.
Trade with a Demo account before going live.
Looking for online business ideas? Here are 15 ways to earn money online in Kenya in 2020. In fact,...
Here is a million-dollar question: is it possible to make a million shillings in a month working...
Today, just about every app has found a way to monetize its platform using virtual currencies....