Using a Demo Account To Trade Binary Options
Hello everyone, Lilly here again, with another video to hopefully improve your binary option trading skills.
With any luck you’ve found a friendly enough broker and understood a few basic rules of the binary option market so it’s time to move on to some actual trading tactics, well, almost…
There is a great step between the theoretical and the practical trading that can help quite a few of you beginners out there, that simple step is called a “demo account” and it can teach you quite a bit about trading, and help you understand a few things before you actually start spending money, trust me, you’ll thank me later for pushing you to use one of these…
Using a demo account is very easy, just think about it as pretend money. You’re not risking your own money, but you get to use the same system you would during actual trades.
This has two main advantages – Knowing the trading platform from the inside and being able to see how the market behaves in real time, without the risk usually involved in that.
If you’re anything like me, your first urge when you get “free money” to play with is to burn right through it in no time, but that’s the wrong thing to do in this case. Treat your demo account like a real one – make your investments intelligently, on assets you know and keep things as “real” as you can.
This will help you get the best kind of education possible – an experience that’s almost real, that way, when your money finally gets involved you know what to expect.
Thanks again for watching, comment below if this helped and don’t forget to subscribe!
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