The year was 3000 BC, the location somewhere around Mesopotamia and ancient Egypt; a lavishing area mainly known for its talented textile production and ideal weather conditions for growing spices. This was the setting for the world’s first ever trade.
Even in its early forms of creation, trading was big and priceless. Soon after, the trading concept had slipped into the minds of early days entrepreneurs and city after city picked up on the idea, leading them to a never-before-seen prosperity.
These events took place five thousand years ago, in times when stock was scarce and trades carried the weight of your survival. Nevertheless, civilizations which jumped into this new field of conduct have tremendously prospered from it, gaining unprecedented wealth… And fast.
Today, trading still proves to be a thriving field in which investors still manage to accumulate large sums of capital in relatively short periods of time. Despite this similarity, one major change the trading sector has undergone over the past 100 years has to do with its global reach; unlike their ancient predecessors today’s markets opened their gates to international investment.
In fact, more and more people find it easier to access today’s markets, not only because of their global reach, but also due to their user friendliness and other supplementing features. One market in specific to have gush waves on the financial peer, is the Binary Options market.
Binary Option Trading
Since the early days of ancient Egypt, trading has taken a giant leap forward, primarily in terms of its process and stock formation. Binary options’ trading, for instance, enables traders to invest from the comfort of their own home, using a web-based platform, which not only operates on computers, but on tablets and smartphones as well.
In terms of the stock formation, presently, instead of exchanging your own crops or the milk your goat produces, you trade assets. The assets are divided into four sub-categories: stocks, indices, commodities and currencies, whereas each sub-category consists of different assets. For example, assets you’ll find under the stocks sub-category include Apple, Google, Coca Cola etc., and the currency subcategory consists of foreign exchange pairs such as USD/EUR, GBP/USD, AUS/NZD and so forth.
Obviously, the goods we trade today have significantly transformed as stated above, although one thing has definitely stayed the same over the past 5,000 years; trading still yields high profits.
With a possible approximate 85% return on investment, it doesn’t come as a surprise to see traders profiting large sums of capital in short time periods, which is in fact the essence of binary options trading. The 60 seconds option, for example, vividly illustrates this concept of large and quick returns; it allows you to profit hundreds of dollars in less than one minute.
Recommended Steps to Follow Before Commencing Trading
Although trading in the 21st century is a lot easier than it used to be, nonetheless, we should always keep in mind that our money is put at risk with each and every investment. To minimize the risk, it is recommended to approach trading in small but definite steps:
Step 1: Sign up with a reliable broker
Binary options trading is big and if you probe the market you’ll quickly come across dozens of different brokers. In all fairness most brokers present similar rates and only slightly differentiate what they offer, however, two main factors you should base your decision upon when choosing your broker are the quality of the education center and the analytics department.
Step 2: Study the platform and the business
Your trading must rely on an educated and confident decision making process, one which can be acquired via the broker’s education center and the support of its representative and support team.
Step 3: Touch base with the Analytics Department
By understanding how to read and utilize technical and fundamental analysis, you’ll be able to better comprehend the market’s movements and as a result increase your potential ratio. In addition, make sure that you’re connected to the broker’s signals system, as these systems often claim to have an 80% success rate average.
Step 4: You’re good to go – start trading and profiting
Once you have acquired sufficient knowledge on the binary options field, you have learned how to operate the platform and are receiving frequent signals from your broker, you are then in all ways ready and properly geared towards trading binary options.
If you wanted to engage in trading and make some money 5,000 years ago, you had to walk alongside your goat while carrying a 10 litre bucket filled with milk for several kilometers to reach the nearest city and then be able to trade your milk on the local market for just one coin.
Today, you turn on your computer (or tablet, or smartphone), log in to your account, wait till you receive a signal, click on a button, hold for a minute till the option expires and collect your money… Quickly!
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.