Just like you, I was searching for how to make money online a few months ago before stumbling on IQ Option. As an enthusiast I was curious to learn more, so I started the journey on discovering how a beginner can make money from IQ Option.
The first step I took was setting up a demo account, which was pretty easy, and I achieve that within 2 minutes, the second step was searching for materials on “How to make money from IQ option‘ online. Then the third and final step was opening and funding a real account.
Before we continue, let me give you a little insight of my understanding of the whole Market.
What is IQ Option
IQ Option is a trading platform where you can trade Forex, Crypto, Stocks, Commodities, Indices and ETFs. Currently, the platform has over 40,000,000 registered users and is regulated by Cyprus Securities and Exchange Commission (CySEC ) and Seychelles Financial Services Authority (FSA)
Why do People lose money on the platform
One of the question I was trying to answer before starting up my real account was “why do people lose money on the platform” because in all honesty, over 90% of traders lose money on IQ Option.
As a beginner, after testing the demo for a full day, I funded my real account to see if I can apply the strategy I was using on the demo account to make real money, because the progress i made on the demo was very good and the strategy I was using was returning almost 98.9% success rate,with just one lose out of 20 trades.
Immediately, I open the real account and started trading, I lost my first, second and third capital in one day
What went wrong?
I am going to be very blunt with you, the main reason most people lose their money on IQ Option is due to inconsistency and lack of proper money management.
I lost my equity because I was not consistent. IQ Option just like every other binary option platforms need consistency,once you deviate from it, you cannot make meaningful progress. I will explain more on this as we go further.
2. Lack of proper money management
Immediately after loosing my first trade, I wanted to recover the money in the second trade that I over-leverage on my second trade, same thing happen to the third trade till all the money was gone.
3. Trading Several Market at the same
While there are thousands of opportunities in the market, most traders jump from one market to another, opening many trades at the same time. This always seems to be counter productive and may confused you in the long run
How to Make Money from IQ Option
Making money from IQ Option is both easy and difficult. Easy in the sense that, many people are making cool cash daily from the platform, difficult, in the sense there is always the possibility of you losing 2 out of every 10 trades. That is while, it’s always wise to risk the amount you are willing to lose.
Here are some steps that will guide you to be successful in the market.
1. Be consistent
Consistency is key if you wish to succeed in IQ Option. As a beginner, the best thing you can ever do to help yourself is to focus on just one market, understand it first before jumping to another market. Focusing on just one market from the start will enable you to understand the market history and the market structure.
2. Apply proper Money Management
Applying proper money management includes knowing how much to risk on a single trade and how to protect your capital.
Risk only what you are willing to lose.
3. Develop a strategy
The reason most traders fail is because they know many trading strategies and may be confused on which one to use when trading with their live account. It’s good to develop a strategy, test it on demo, before going to your live account.
4. Trust Just One market When starting out
As a beginner,don’t make the silly mistakes of jumping from one market to another, focus on one, grow and understand the market before testing other markets.