It is simple to start trading on Quotex, but repeated profits depend on the right strategy. Most beginners fall into the “gambling” mindset and lose big. In this article, some simple strategies are going to be mentioned through which we will maximize the probability of profitable trading on Quotex.

The first to know is a simple analysis technique. Although it might sound complicated, you only need to be familiar with a couple of basic indicators such as Moving Average, RSI, and MACD. These three are already featured on the Quotex platform and are very easy to use. Moving Average helps with trend, RSI shows overbought/oversold, and MACD provides momentum signals.

Risk management is of paramount importance in trading binary options. Never risk more than 5% of your capital on a single trade. For instance, if your capital is $1000, the maximum trade per position is $50. This rule will safeguard your capital from huge losses that may be suffered in a string of losing trades.

Entry timing is also very important in the case of Quotex trading. The most suitable time for trading is when the market is in chaos, i.e., when the European and American market times start, i.e., 20:00-24:00 WIB. Price action at this time is more predictable and based on some pattern.

The “trend following” approach is likely to be the most reliable one for beginners. The idea is simple: move in the direction of the present trend. If the trend is upwards, buy a call option. If the trend is downwards, buy a put option. To establish the trend, look at the 20 and 50 Moving Averages. If the MA 20 is above the MA 50, the trend is bullish. If the MA 20 is below the MA 50, the trend is bearish.

It is also very important to diversify the trading assets in order to reduce risk. Don’t have just one type of an asset. Quotex offers several types such as major forex (EUR / USD, GBP / USD), cryptocurrencies (Bitcoin, Ethereum), and commodities (Gold, Oil). Each asset behaves differently, so diversification can make returns stable.

Trading psychology is an aspect that beginners often overlook. Emotions like fear and greed can ruin a good trading strategy. Create a clear trading plan and stick to it with discipline. Set a profit target and stop loss before starting trading. Once the target is reached, stop trading for the day. Don’t pretend to continue trading just because you’re on a winning streak.

Using the demo account feature is an extremely effective learning strategy. Practice using a demo account with different risk methods without losing money. Record every trade you make, figure out why it was profitable or unprofitable, and look at the habits that arise. Don’t even think about trading with a live account until you have consistently won money on your demo account.

Consistency is better than attempting to take a huge profit in one trade. To make 5-10% per month is much more realistic and doable than expecting 100% for a month. Trading is a marathon, not a race. To plan on the small consistent profits will reward you with more returns in the end.

Trading is a dynamic world, and today’s trick may not be tomorrow’s. Update your knowledge from time to time through webinars, articles, and other study material provided by Quotex. Engage with the trading community in order to share experiences and methods.