Pocket Option Tutorial for Beginners: How To Trade On The Platform

Being a beginner in trading binary options can be both exciting and overwhelming. Pocket Option is a popular platform used by novice and experienced traders. It offers a user-friendly interface and a variety of features to enhance your trading experience. In this article, we will provide a comprehensive guide for beginners on the basics of trading on Pocket Option. From creating an account and placing your first trade to exploring a demo account, we will cover all important steps for new traders.

Pocket Option is one of the most reputable binary options brokers, according to reputable websites and professional traders. The platform is owned by Infinite Trade LLC, a company registered in the offshore jurisdiction of Costa Rica. The website, pocketoption.com, is visited by thousands of traders from around the world every day, and the platform supports multiple languages.

Trading on Pocket Option is simple, but it can be challenging if you are new to the platform. Let’s take a look at the process together.

How to Start Trading Binary Options on Pocket Option

Step 1: Log Into Your Account

To begin with, sign into your Pocket Option account. If you plan to trade using real funds, check that your real account balance is sufficient. Otherwise, you can use a demo account to trade without financial risk.

If you still don’t have an account, we recommend reading our article on getting started with the Pocket Option platform. There you will find information about how to register, verify, and deposit funds into your account.

Step 2: Choose Your Asset

Go to the trading dashboard, where you can explore the extensive range of available assets. Pocket Option offers trading across various markets, including currencies (forex), commodities, cryptocurrencies, stocks, and indices.

Let’s say you choose from stocks:

Step 3: Specify Your Trade Amount

At this step, you should decide on what amount you are ready to spend. We recommend starting with small amounts in order to avoid enormous losses which is common for beginners. If you set trade amounts carefully, you can save your money and learn.

To begin with, choose $1-5:

Step 4: Determine the Expiry Time

Next, decide on how long the trade will be open. The trading time on Pocket Option can vary significantly, from 5 seconds to 4 hours. 

We recommend choosing shorter expiry times for beginners to get quick, small gains. You can start with 5 minutes, for example:

Step 5. Modify Your Dashboard

You can also modify chart types (lines, candles, bars, etc), choose indicators (Accelerator oscillator, Aroon, RSI, etc.), and add drawings (horizontal line, ray, Fibonacci line, etc.) to your dashboard by clicking on designated buttons at the top:

Step 6: Forecast the Price Movement

You should analyze the price chart of the asset and use the technical indicators on Pocket Option to help you make your prediction. Predict if the price will be higher or lower when the trade ends, by pressing a certain button:

Your prediction can be based on the market analysis, including trends, past data, and maybe other economic factors.

Step 7: Place Your Trade

Once you have set all the necessary parameters, including the trade amount, the asset, and the expiry time, as well as made your prediction about price movements, confirm the details and place your order.

You will see your orders in the designated area for opened trades:

Step 8: Review the Results

In order to review the outcome of a trade, please wait until it has closed. 

If your prediction is correct, you earn a profit, which is a percentage of your invested amount as specified before placing the trade. If your prediction is incorrect, you lose the invested amount. 

The results can be found in the designated area for closed trades. Additionally, you can check the profit from the closed trade in the Payout section on the left.

To understand the effectiveness of your strategy and refine your approach for future trades, we recommend reviewing the results of each trade.

Demo Account or Real Trading Account?

Being a beginner with Pocket Option, you can choose between starting with a demo account or a real trading account. Both types of accounts serve different purposes and are suitable for different stages of trading.

Demo Account

Why choose a demo account? Firstly, it is a risk-free approach because you can trade without investing real money. The demo account deposit is $50,000. Secondly, as a beginner, you can familiarize yourself with the platform and test strategies because a demo account gives you a realistic trading experience. Finally, you can use a demo account, without filling out a registration form or providing your data.

Real Trading Account

Trading with real funds on a real trading account, on the other hand, involves the risk of potential losses. However, it also provides access to all the features and functionalities of the Pocket Option platform. Additionally, real trading involves psychological aspects, such as managing emotions and adopting a disciplined approach.

For beginners, starting with a demo account is highly recommended. When you have learned how to trade and built up your confidence in trading, you can then switch to a real account and begin trading for real money.

Tips for Beginners in Trading Binary Options

• Choose your assets carefully. There is a wide range of underlying assets available, covering different sectors such as stocks, currencies, commodities, and indices. For beginners, it is recommended to choose assets that are familiar or that they are interested in, in order to better understand their behavior in the market.
• Set the right expiry time. As the expiry time for a trade can vary from a few minutes to several days, depending on the broker and type of binary option, beginners should start with shorter times in order to have an opportunity to quickly analyze the market.
• Learn Market Analysis. As a beginner in binary options, study charts, patterns, and indicators to make informed predictions. Understand the factors that influence asset prices, such as economic indicators and news events, in order to make better decisions while trading.
• Avoid Emotional Trading. We recommend that you stick to your trading plan and avoid making impulsive decisions based on emotions. If you can accept that losses are a part of trading, you will not try to chase them by making bigger, riskier bets.
• Analyze Your Trades. You can keep a record of your trades to create your own analytical tool, such as a journal of trades. Additionally, you should review all your completed trades to identify areas for improvement and possibly even potential losses.