I’ve been trading on the Quotex platform for a year now. I had some wins and some losses. However, I felt certain that I could obtain money. All I needed to do was figure out how to make it happen. I experimented with a variety of tactics and kept track of them. I could then keep working on the strategies that were effective and abandon those that weren’t.
Then came the instant I realized something was altering favorably. When I did the four things that I’m going to share with you now, my trading was profitable. I would have suffered losses if I had simply left out one of those items. These four actions, in my opinion, are the key to my success at Quotex.
Treat a demo account like a real one
The practice account has one major benefit over the genuine one. It goes without saying that the fact that you don’t trade with your own money also implies that you won’t lose it in the event of a failure.
You should always practice your strategies on the demo account for this reason. Your money is safe because there is no high risk involved.
I switch to a demo account each time I want to see if the method is successful or not. I make several attempts at the particular strategy. I won’t apply a certain technique to the real account until I am certain it operates as intended there.
Additionally, I will experiment with different trading approaches, financial instruments, and trade amounts on the practice account in addition to trading methods. When I have a good understanding of what works and what doesn’t, I switch to the real account. I practice, I test many options. I decide on the market, the approach, and the investment size without any hesitation.
The practice account is frequently used as a practice ground by new traders. They make large investments, employ haphazard tactics, and exhibit little thought. After all, it’s not their money. But this is incorrect. Do not adopt this way of thinking. Treat a demo account just like a genuine one. If not, it can end up costing you money down the road.
Your confidence and trust will increase if you treat a demo account as though it were a real one. You learn the successful methods and gain confidence that they will also work in the real market as you learn how to separate the excellent moves from the bad ones.
My recommendation is to put in a lot of training time. Consider yourself a sportsperson. Before you are ready to demonstrate your skills, you work out for hours. And whether you succeed or fail, you return to your training.
In the world of trading, you ought to follow the same procedure. The wonderful news is that Quotex offers a free demo account.
Stay away from 60-second trades
Of course, making 82% of the investment in a single minute is incredibly alluring. You smile just at the notion of getting such quick money. But as you can see, something is wrong. It is both too long and too short to be 60 seconds. You’ll experience fear and worry. Additionally, these feelings are undermining your ability to think clearly and making you susceptible.
You might become overconfident if you make a lot of money in just 60 seconds. So you would deposit more and more money in a single trade, thinking you had discovered the simple secret to making a lot of money. This is a simple method that could result in you losing all of your prior gains. even worse.
Never forget that prices are always changing, even in intervals as brief as one minute. And even a slight price change could cause you to suffer a significant loss.
On the other side, price changes over longer time periods are less likely to cause you to lose everything. In short or long time frames, the price will continue to fluctuate. However, employing longer timeframes makes it simpler to evaluate the market and forecast its course.
Check the trading history frequently
To limit losses and increase gains is the main rule for all traders. When you get the ability to look back on your prior trades, it will be lot simpler. The first traders had a handwritten record of their trades. They kept track of which transactions resulted in gains and losses every day.
Positive news? It is not required of you. The tool “Trades” on Quotex allows you to view a complete history of all of your previous transactions.
What conclusions can you draw from the trade history now? firstly, whether you were profitable or unsuccessful on that specific day. Second, the most profitable trades were made with financial instruments. What tactics are then most effective, and when did you make the best investments? When trading candles on the EUR/USD currency pair, for instance, you can find that the largest payouts occur between 10 and 11 in the morning. And because you have this information, you are aware of the best time to trade this particular currency pair.
Build and follow the trading plan
I didn’t start out working on any sort of money-making strategy. I only wanted to make money trading, so I chose markets at random and switched to another if one didn’t work out for me.
I must confess. It was ineffective. After losing more than 80% of my money, I realized that something needed to change. I started to copy the strategies of successful investors, and I found that every single one of them had a trading strategy. I was lacking precisely that.
Let’s look closer at what such a plan should include.
Setting a time limit for your use of the Quotex sample account is the first step. It will last for three weeks, I decided. It ought to be lengthy enough to allow me to determine which markets and what time will yield the greatest earnings. Setting the quantity of money you are prepared to invest in the trade is another important step.
Reviewing the trade history is crucial, as was previously said. I examined each and every trade. I kept a meticulous journal in which I recorded the dates, times, methods, signs, tools, and timeframes I employed.
After three weeks, I went into a real account. I created a trading plan that included information like:
- The amount of money I would put in the deposit
- The amount of money I would invest in a single trade
- Timeframe
- Charts and indicators I would use
- Markets and times I would make transactions
- The moment to stop trading (for me it was 3 subsequent losing trades)
- The moment of profits withdrawal and the percentage of the account balance I would withdraw.
This is merely a basic illustration of a money-making strategy. I suggest making one that best fits your trading approach. Above all, make sure to stick to your money-making strategy.
What results have you achieved during your time trading at Quotex? Open a sample account on Quotex right now to test out my 4 secrets if you haven’t already. Your research findings should be shared in the space below.
FAQS
Q: What are secret tricks from an experienced trader at Quotex?
A: Secret tricks from an experienced trader at Quotex may include specific trading strategies, market analysis techniques, risk management strategies, and other tips and tricks for successful trading.
Q: Can anyone learn these secret tricks?
A: Yes, anyone can learn these secret tricks, but it takes time and dedication to develop the necessary skills and knowledge to become a successful trader.
Q: Are these secret tricks guaranteed to make me a profitable trader?
A: No, there are no guarantees in trading, and even the most experienced traders experience losses from time to time. However, learning and implementing these secret tricks can increase your chances of success.
Q: Where can I learn more about trading and these secret tricks?
A: You can learn more about trading and these secret tricks by reading books, attending seminars or webinars, and following blogs and social media accounts of experienced traders. Quotex may also have educational resources available on their platform.
Q: Do I need to have a lot of money to start trading on Quotex?
A: No, you do not need to have a lot of money to start trading on Quotex. The platform offers flexible account options and allows you to trade with as little as $10. However, it is important to remember that trading involves risks, and you should only trade with money that you can afford to lose.
Q: Is Quotex a safe and reliable trading platform?
A: Quotex is a regulated trading platform and takes measures to ensure the safety and security of its users’ funds and personal information. However, as with any online platform, there are always risks involved, and it is important to do your own research and due diligence before trading on Quotex or any other platform.
