Online trading made the financial market open to anyone. But the most important thing to remember is that only following the right strategy can bring you profits.
Deriv is one of the most cherished online trading tools among new and experienced traders. Here are the 4 top strategies to make immense profits on the platform:
- Covered call strategy
- Bull call spread strategy
- News trading strategy
- Day trading strategy
There exists no strategy that is perfect for everyone. However, these top 4 trading strategies work for both beginner and advanced traders.
How to win in Deriv?
To win on Deriv you can use any of these trading strategies or a combination of several. The important thing is that you should pick one trading strategy and stick to it till it works for you. Don’t change your mind too often.
Rules of responsible trading from a top broker
The main 3 rules on how to be a smart trader are the following.
- Do your research: Some new traders easily believe other people’s sayings or even trading bots but the only key to online trade is good research. Make time to read broker reviews, study assets to trade on — from CFDs on forex, stocks and stock indices, commodities to cryptocurrency. Try to diversify your portfolio. It can protect you from losing all your money in case a market moves against your prediction.
- Use a free demo account to test out your trading strategies: The demo account for each of the platforms on Deriv will allow you to practice trading before deciding to trade with real money.
- Enjoy the process and practice patience: When it comes to online trading, patience is critical. It's important to note that to keep a disciplined approach to online trading you should develop a strategy and stick with it. Trades don't usually result in massive payouts. Losses are likely to occur, so stay realistic.
How to use Deriv?
No matter which Deriv strategy you will choose. You will see that the interface makes the use of the platform easy even for an inexperienced trader. Anyway, you can always check the tutorials available on the platform. First you need a Deriv account. The second thing to do is to select an asset and decide if its price is going up or down. When you make a decision you place an order and in case your prediction was right you obtain profit which can be used for making new deals or you can proceed directly to funds withdrawal and enjoy your victory. You can always check your previous trades’ details in your trader's account to make your experience help you with your future decisions.