Decided to offer this since I’ve just spent like 30min typing this up under 1 comment.

Yeah it’s possible but it doesn’t need to be your main focus, otherwise you’ll inhibit your growth plus lose a lot of money. When people talk about binary, they paint a pretty picture, an expensive one. People only see the pretty picture but don’t see the massive strain and effort put in that made it so pretty. This will be a journey and your learning will never end so be prepared to venture down the rabbit hole. It’s not easy, I won’t lie to you and does take lots of work and dedication but it’s possible with consistency and discipline the right education.

When beginning, you should focus more on building a strategy that will yield good results, the strategy is what actually pays you. Main 3 things: 1. Find or develop a strategy 2. Find or develop a risk management plan 3. Master yourself/ mind (this might be the hardest part)

Of course their are micro steps within these macro steps like, before learning a strategy, shave off some time by learning foundational knowledge such as: learning how price action truly works, market structure, market sentiment, candlesticks, chart patterns etc. If you don’t have a forex background then all of these terms may be new to you and that’s okay. You’ve got to start somewhere. Since everything begins with the movement of the market, it’s best to learn how it moves and follow it. Once you do develop your foundational knowledge, then you can pair that with a simple moving average strategy, bollinger bands, rsi, stochastic etc. There’s lots of indicators, I personally only use a moving average and trade price action as it’s best to not become dependent on indicators but use them as indication only.

Psychology means more than anything, if your mind isn’t stable, you will revenge trade and blow your account. Being able to make rational non emotional decisions in the market will make or break you. For example, if you take 3 losses in a row, you have to be able to walk away. Or if you set a goal of 5% a day and that goal was hit, you have to walk away. Nothing in financial markets feels better than planning your trade and trading your plan. Risk management is quite self explanatory and there’s lots of videos on it, so I won’t waste time covering that.

Trade in demo to get a feel for how the market will behave as well as practice until you know your strategy inside and out but don’t you DARE get attached to demo $$ because it will have you highly emotional in live markets.

Get really comfortable with your strategy, as you waste time and stress yourself out bouncing from strategy to strategy, trust as a newbie it’ll be information overload and there’s ALOT. You have to figure out what suits you. Anywho, hope this helps.

I have a community on telegram who is dedicated to succeeding together, we’re a family of all trading backgrounds and skill levels, hell I think one of the guys in there may be legit rich 🤣. But we offer advice, knowledge, strategies and sometimes trade together. You’re more than welcome to join, watch videos in pinned messages, view links and free ebooks, ask as many questions as you’d like. An admin or 2 is always available. HMU on telegram for the link @ etherealjay