Your 5-step trading guide from Nadex

November 18, 2020
Post image
Here is your free, simple 5-step trading guide to get you up and running.

Follow these 5 steps, complete with resources to support you through every stage, and you’ll have the knowledge needed to become a confident trader.

Before you get started…

You should learn more about planning your trades and managing your risk. Head over to our learning center and read our complete guide to trading plans, and take a look at our risk management strategies for traders. Then you’re ready to begin your 5-step journey towards trading confidence.

Start trading with Nadex in 5 steps 

1. Understand the markets and identify potential opportunities

The cornerstone of trading is forming an opinion on the markets, and to do that, you need to understand them and know what makes them move. First off, we’d suggest you get to know the markets that are available to trade on Nadex and see which ones appeal to you. This will vary from person to person – if you’re into tech, stock indices (particularly the US Tech 100) could be of interest. If you’re interested in world affairs and trade, perhaps commodities would be a good place to start.

  • Follow Nadex on social media:

Facebook            Twitter                 Instagram            YouTube

On our social media channels, we provide regular market updates and post resources, tips, articles, and more. We also post daily morning videos from Travis McGhee, our Chief Commercial Officer, who’ll tell you what’s coming up in the markets and what you may want to watch.

We have a team of in-house experts who are here to impart their knowledge. Our webinars cover a range of topics and can give you a great introduction to our platform and products, as well as teaching you market analysis skills. Take a look and see what interests you.

2. Pick a Nadex product

Will this market be above this price at this time? Base your trading around a simple yes or no prediction.

Define your boundaries. Pick a floor and a ceiling that, if hit or passed, will knock you out of the trade, protecting profits and limiting losses.

Buy yourself more time to be right. Trade within a predefined range, without getting stopped out.

3. Learn how to read and use charts

Technical analysis is a way to interpret charts and make sense of the data in front of you. It’s a valuable skill for traders to learn – take a crash course and learn the fundamentals.

Candlestick charts are widely used by traders because they show lots of information in a very simple format. Here, you can learn what candlesticks charts can show you and how to read them, as well as seeing examples of patterns to look out for.

In this tutorial video, you’ll learn more about the different indicators and drawing tools available, and what they can tell you. You’ll be able to explore how to add indicators to Nadex charts, customizing them to show you the data you specifically want.

4. Sign up for a free demo account   

Sign up for a Nadex demo account and get $10,000 in virtual funds to practice trading.

Once you’ve completed the first three steps, you’re ready to sign up for a demo account so you can practice trading for free. You get the functionality of a Nadex account, but with virtual funds, so you’re free to explore the possibilities without any risk.

Once you’re feeling confident and ready to trade, you can sign up for a live account with a $250 minimum deposit.

5. Start trading!

Now you have your demo account, it’s time to learn how to find your way around the platform and get the most out of it. Here are some platform tutorials for you to explore:  

If you have any questions while following our 5-step trading guide, our team is here to help. You can start a live chat with our customer service team, who will be on hand to make sure you don’t hit any bumps in the road while starting out on your trading journey.

Practice trading – reach your potential

Begin free demo