Trading on Quotex could be a great opportunity to earn some profit, but for beginners, it is more about starting their trading journey. Like any financial activity, trading requires at least basic knowledge and a good strategy to avoid unnecessary risk. This article will cover the basic steps to start trading on Quotex and some important tips on using indicators and risk management.

Quotex trading platform is rather user-friendly, but for a complete beginner, there are some basic features to be learned, or at least known, before any serious trading. You can start practicing in a demo account that is provided for free. This demo account will provide the opportunity to practice trading without risking real money and to fully understand how the platform works and try different strategies with no risk.

Technical indicators are statistical tools of trading that help in studying the price movements to forecast the market trends. For the beginner, it is important to start with a few simple indicators which are easily understood and used, such as Bollinger Bands and Moving Average.

Bollinger Bands is the indicator that reflects the volatility of the market and helps to catch the very moment of the turn of a trend. On the Quotex platform, you can set the Bollinger Bands with a period of 20 and a deviation of 2-this is the standard setting, which is often used in trading. Bollinger Bands consist of three lines: the middle line is the 20 MA, and two outer lines are the standard deviations from the MA. Because of this, it could be a signal that when it touches or comes near the outer lines, reversals in price can be expected.

Moving Average-10 MA, is one indicator used to view short-term trends. MA will help the traders realize if the price is in an uptrend or a downtrend with the view of the average movement of the price over a certain period. You can set the MA to a period of 10 on Quotex to monitor the short-term movement of the prices.

It is easier to visualize the setup for market trends or entry and exit points, which would also complement Bollinger Bands with a 10 MA.

Steps to Start Trading on Quotex

After being informed about the basic indicators, it's time to start trading. Here are a few steps you could follow:

1. Choose a Currency Pair or Other Asset: Quotex offers a wide range of assets, including currency pairs, commodities, and indices. Being a beginner, you would like to focus on one or two kinds of assets that you would want to understand their price movement characteristics.

2. Market Analysis: Analyze the market using the indicators you have learned before opening a trading position. Take into consideration how the price is currently moving, with the signals given by Bollinger Bands and MA 10.

3. Determine the Investment Amount: When you are confident with your analysis, determine how much money you want to invest in the trade. As a beginner, it is best if you start with a small amount until you are sure about your strategy.

4. Choose Expiration Time: On Quotex, you can select expiration time, starting from several seconds and up to several hours. Choose an expiration time that best fits your analysis and make sure you are comfortable with the potential risks.

5. Open the Position: Having decided on all parameters, you can open your position in trade. Observe the price movements and look for an appropriate moment to close the position if necessary.

Risk Management in Trading

Risk management is a major factor in trading. Even with an efficient strategy, one cannot be so sure and never face any kind of loss in trading. Hence, proper risk management should be implied.

One of the ways to control risk is by the rule of 1-2% of your total account balance per trade. This simply means that you are only going to risk a maximum of 1-2% of your account balance on any single trade. In that way, you can save your account from great losses when your prediction may go wrong.

Also, never chase losses. Each time you have any loss during one trade, take your time to review your strategy instead of rushing into opening other positions for the recovery of the loss amount. Remember, a hit buying and selling calls for endurance and discipline.

Success could better be achieved by simply mastering the Quotex, learning the use of indicators like Bollinger Bands and MA 10, and importantly wielding good risk management. Trading is a process-one learns more when he experiences it. For now, let's just remember to stay consistent with development and discipline in strategy building.