Trading may seem difficult, but when you follow these three simple steps you too can start earning money by trading! In this article we discuss a few simple steps to guide you towards profitable and successful trading.
Three steps to learn:
- Read a lot about trading – this way you learn the basics. Take a look at our course on trading in CFDs, for example.
- Open a free demo account with one of the best brokers. With a demo account you learn how to trade completely risk-free.
- Practice with your demo account: with trading it’s all about practice! Practice does make perfect. By practicing you learn how to recognize patterns and how you can make money trading.
Learn more about trading
The first step you have to take to learn trading is learning the basics. Trading isn’t too hard, in theory. In this article we tell you how to open a trade so you can get started on your own. Before we get to that, we tell you why trading is so interesting.
- You can trade with as little as a hundred pounds: you can profit with small amounts.
- When you trade smart, you can make money no matter the direction of the market.
- A lot of brokers give out a free demo so you can try out trading with them.
- Trading is educational and exciting: you learn by doing!
The first step in the learning process is opening a demo account with a broker. There are a lot of brokers and to make this step a little easier we have already selected the best broker for beginning traders.
Get started with a demo
In this article we look at the basics of trading. The best way to learn is to immediately start trading. You learn by doing! That’s the best way. Plus500 offers very simple, yet powerful, software that makes it easy for beginning traders to get started.
The company also welcomes new traders with a demo of 50.000 pounds, so you can try out trading with demo money right away. As soon as you are ready you can make your first small deposit and start trading!
Learning how to trade
Let’s take a look at how you can trade on your own at Plus500. With Plus500 you can trade in CFD stock, commodities and Forex, among others. You can open up a position for each of these financial instruments. Opening a position is basically trading a stock.
You have two options: buying and selling. When you buy a stock you make money when the price goes up and when you try to sell stock you make money when the price goes down. Your results are being stored continuously, but once you close a position the result is definitive and your result will be credited or deducted from your account.
Orders are a very useful option. With an order you can open or close a position automatically at a certain price. This way you can get the best results on every trade!
You know enough to open up your first position. To become a better trader it is important that you keep learning. Keep trading and continue learning by reading articles and following courses.
Useful links: start trading directly!
- Free eBook 'Earn Your First 500 Pounds Trading '
Learn everything you need to know:: download the eBook for free >> >>
- Want to try trading for free without any risk?
Receive a free registration bonus of up to £20 / €25 / $25: click here and try it risk-free!
- Compare the best brokers & begin immediately
Try trading with a demo account? compare brokers >> >>