Is it possible to teach yourself how to trade options, cryptocurrencies, or other assets?

Ted Capwell

Trading options, cryptocurrency and other assets. Is it possible to learn independently?

After it became possible to trade online, the field became awash with inexperienced investors who know next to nothing about trading principles and approaches. The vast majority of inexperienced online traders struggle to gain an understanding of trading operations involving financial assets, as well as the practical experience that goes along with that and the principles of market analysis. On that note, we propose looking into if it is possible to teach yourself to trade with a multitude of financial assets. As a starting point, let’s look into the most popular and widespread tools today, those being options, cryptocurrencies, assets, and CFD currency contracts.


Is it possible to teach yourself how to trade options, cryptocurrencies, or other assets?


Before going into the best way for beginners learn about online trading, it is important to make clear that you shouldn’t be doing any trading of any kind on the financial market before you have a basic understanding of the theory! Of course, you can start trading and even generate some results without understanding what is happening. However, such a mentality is called gambling, where users treat the market like a lottery or game. Yes, you can guess the direction of market movement and even earn some profit, but you won’t e able to generate a stable income. Therefore, here education is the cornerstone of success, something that shouldn’t be ignored if you’ve decided to dedicate yourself to trading.

The vast majority of beginners who enter the market actually don’t understand how trading works, how to analyze the market and generate trading signals and, as a result, in most cases, they lose their capital. This legitimately begs the question of what you were hoping to accomplish. No one would ever consider driving a car without any experience or a license, or sit in the cockpit of a plane without knowing how to fly it! Like in every professional field, you need to have specialized knowledge, or at least minimal experience in order to trade. However, the majority of new traders insist on trading on the market without any understanding of theory or practice. You can’t just master the market without trying, it is a very difficult process acquainting yourself with the relatively wide knowledge base. The fact that many beginners don’t bother to learn about trading comes as a big surprise to most professionals, firstly because they have no skills, secondly because beginners lose money yet continue trading, thirdly because there is a wide selection of free educational programs on trading available and all they would have to do is study! This naturally begs the question of what is stopping you from becoming a successful trader?

The vast majority of beginners only consider doing some research after they already lost money. There are two ways to go about it:

● Free online courses that are provided by many trading platforms and sites

● Paid courses at specialized schools and universities

Which of these is best is widely debated amongst future traders. One camp considers the paid programs to be of better quality and guarantee good results. The other doesn’t see the point in paying for something that you can get for free. They are both right without a doubt. It is just important to look at it from the perspective of the financial capabilities of the new trader, as well as their ability to motivate themselves. If you are in the position to pay for an expensive course, why not? If not, you can take advantage of the free services online. Returning to the primary question of the article, can you teach yourself how to trade? Of course, without a doubt it is possible! Besides, regardless of whichever form you choose.

However, before you start researching professional information on trading, we have a few recommendations:

● Recognize whether you really want to do it at all – Many new traders enter the market thinking only about potential profit, failing to understand that trading on the financial markets isn’t a mass phenomenon and that relatively few investors achieve success. So answer for yourself the question, are you prepared to throw yourself into trading?

● Figure out what type of trading interests you – These days there are several leading types of trading tools available online, including over-the-counter options, cryptocurrencies, as well as CDF contracts on Forex, thus enabling you to conduct financial operations on any asset. Here it is necessary to take into consideration that the overall principles of analyzing any asset don’t vary by much. When you are forecasting the direction of any tool’s fluctuation, you will end up using several basic technical and fundamental analysis principles. Of course, there are nuances to trading with specific contracts or assets, and these should be the primary factor you take into account when you choose which trading tool to use. Another fact worth noting, choose the most suitable asset and type of trading for you!

Feeling comfortable on the market and maintaining mental stability is very important when you’re trading.

● Find a mentor – If you want to get the most out of your training you need a teacher regardless of which type, of course, you’re taking. You can just as easily find a mentor on free courses, for example, your personal manager and analyst or another experienced trader, as you can on paid. If you have a mentor, you will follow a more clear lesson plan, giving you access to the most useful information and skills. Other than that, a mentor can help you figure out your strengths, as well as lessen the impact of your weakness on your trading results.

● Your education is never over – Financial trading is a complex process that is impossible to completely master! All the great traders continue to expand their understanding and skills, and it is the cornerstone of their success

These simple recommendations will empower you to quickly and effectively get through a basic course on trading and take your trading to the next level.

So, you have decided that financial trading in specific is right for you, an activity that can bring you success and meaningful profit and decided on the right trading tool and most suitable asset for you, as well as undergone a professional course. In order to make the learning process as easy as possible and avoid any issues that may arise, we recommend that you follow this step-by-step plan. Our outline will focus on the most widely accessible path to learning about trading, the free courses offered on trading platforms.

Step One – Choose a terminal

When you start out in any field you need to find the best professional tools. For traders, the most important tool is your trading platform. This is where traders perform their financial operations, conduct market analysis, and, of course, learn about trading. There are an array of problems that can arise here for new traders. First and foremost, it is about security. There is a lot of fraud that takes place around online trading. If you choose to trade on an unlicensed platform, you could find yourself in a situation where your profits are blatantly stolen. Hence, you should pay very close attention to this process. Study the partner contract and check if your trading partner has a license. The second point of interest is the technical capabilities of the platform. This aspect is very simple, the more analytical tools and related services the terminal provides, the better your opportunity will be to evaluate the market. Thirdly, you should look at the quality of the educational courses that your partner platform offers. It is recommended to trade on terminals that provide a wide array of educational materials in their system. Therefore, you will get the opportunity to gain all the necessary skills.

Step Two – Learn how to work your terminal

As a first step to gaining professional skills, acquaint yourself with your trading platform’s interface. This is vital for putting your theoretical knowledge to use, as well as for your future success on the financial market. By learning how to use the platform, you not only learn the practical aspects of it, but also the specialized forecasting means for approaching various chart services and indicators. Through this, you gain a basic understanding of market analysis. Other than that, it is really important to the process of placing trades and working with live chart settings. Your final trading result and ease of use on the platform depends on this. It is very good if your actions on the terminal become automatic.

Step Three – Study the different types of analysis

More than 80% of trader’s time on the market is spent on market analysis and forecasting rate movement. This is why when you study trading the primary emphasis for beginners should be on studying the main types of analysis. Despite the fact that there are many trading and elementary tools offered online, there are only two primary types of analysis:

Fundamental analysis – With this, the main parameters of constructing trading forecasts are studying and analyzing influential macroeconomic and statistical data. To define the vectors of rate movement, traders focus on studying market news, fundamental financial statistics, the activity of regulatory financial market organs, as well as reports on large corporations. Using this type of analysis, you can highly-accurately forecast medium-term market trends, enabling you to generate profit very effectively.

Technical analysis – This type of analysis relies on evaluating data directly provided by the market. This type of analysis offers the widest selection of tools, methods, and approaches for building trading forecasts. Experts differentiate the main approaches to technical analysis as such, trading using Price Action systems, where various cyclical and signal patterns, indicator strategies, where automatic signal forecasting algorithms are used for analysis, chart systems, built from signals generated on the market based on various levels, geometric figures, and zones.

New traders should begin their research with these forecasting approaches in particular. This sets up the right conditions for you to trade effectively long term.

Step Four – Choose or create a strategy

In order to analyze rates and work on the market systematically and accurately in an organized manner, traders need a strategy. This concept includes a relatively wide selection of approaches, including types of tools for analysis, money management and risk management guidelines, asset selection, and psychological trading factors. In combination, a strategy enables you to make sense of chaotic market movement, so you can generate reliable results. You need to choose or develop a trading strategy built around your own experience and trading preferences. Consider all the factors including financial opportunities, preference of assets and contracts, as well as practical and psychological factors.

Step Five – Trade on a demo account

Once you have a basic understanding of how to trade on the market, you should add to it with practice. To do this, you should take advantage of the great opportunity demo accounts offer, as they are available through most trading platforms. By doing this, you can gain trading experience without putting up any financial investment, test out your own strategies, and get hands-on experience of the trading process. You should practice until you start to generate stable trading results.

Step Six – Live trading

You have completed a trading course and gained the skills necessary for trading that can help you achieve great results. You can start trading on a live account. However, before you place your first contract, we should warn you that trading on a live account isn’t exactly the same as on a demo account. Here you are risking real funds and leaving your demo account comfort zone. Therefore, before moving over to a live account, work through the psychological aspects of trading, it is really important!


So, of course, you can teach yourself how to trade with popular online assets, such as cryptocurrencies, options, and other tools! To do it, you need to be disciplined and organized, as well as use quality educational services and materials. But, as we said, trading is a complex process, therefore never stop improving on yourself, success doesn’t come to those who wait!


“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”