If you are new to the IQ Option platform, your first step is to open an IQ Option practice account. I've created the Beginners guide to the IQ Option Trading Interface which can get you started faster with this broker.
This guide will help you understand how to trade on IQ option for beginners.
Two things you need to understand before you enter an options trade on IQ Option
On the IQ Option interface, you'll need to understand two main things before you enter an options trade.
The first is time. Options will expire after a specific time frame. As the option buyer or seller, you will determine the time you'll buy or sell the option. Upon expiry, a winning trade will earn you a return. If it loses, you will forfeit your investment.
So how do you determine the time the options trade will last? Look at the chart below. The purchase time (marked 1) shows a countdown to the trade entry point. If it reaches zero, it starts again. You can also adjust the time to trade entry using the time feature (marked 2). This allows you to enter the options trade sometime in the future.
The second consideration to make is the price trend. The trend can be up, down or ranging. If you believe that the price will be higher by the time your trade expires, you should click on the “Higher button”. Conversely, if you think the price will fall by the time your trade expires, you should click the “Lower” button.
Other considerations to make are the return and the amount to invest. The return (profit marked 4) is simply the amount you'll make when your trade wins. The amount (marked 3) is how much you'll invest in the trade.
Making your first options trade on IQ Option
After choosing your trading instrument (here I'm trading EUR/USD) and determined the trend direction, enter your trade.
Using the image above, I determined that the price will go up within 1 minute.
I placed an investment of $1000. Given the 77% return, this trade will make $770 profit.
Let's look at the different trading interface features to keep an eye on.
1. Expiration time
This is the time remaining until the option expires. Upon expiry, I'll know whether my trade was successful or not.
2. Expected profit
This is the amount that I can make if the trade is successful.
3. Profit after sale
This feature allows you to exit the trade before expiry. It allows you to take profits if you feel that the trade might be a loser if you let it run until expiry. To take this profit, simply click on the sell button (4) beside it.
Note: If the expiration time timer counts down to 10 seconds, you cannot exit the trade by executing the “sell” order. At this point, you'll have to wait until the trade expires. Take a look at the image below.
How to keep track of your trading transactions on IQ Option
In order to know which trades were winners and which were losers, IQ Option provides a quick link on the left of your interface. This is the trading history feature.
Tips to trade successfully as a beginner on IQ Option
As a beginner trader on IQ Option, your primary objective should be learning how to identify trends, finding the right asset to trade and, managing your emotions and account balance. This requires time to develop. That's why I always recommend you initially use the practice account to learn how to trade.
Now it's your turn to start trading on IQ Option. Use the skills you've learned today to make your first trade. Kindly share your results in the comments section below.
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