Can traders truely make money on the Quotex platform? Is it all smoke and mirrors? Is Quotex real or fake?…
In this tutorial, we will trade with a live $53,000 Quotex trading account to uncover the truth about its profitability. By the end of this video, we’ll know if Quotex is a scam or a legitimate platform.
In this article, we’ll also cover important topics such as risk management, and red flags to watch out for when using the Quotex trading platform. With the right approach, you can minimize risks and work towards profitable trading.
Basic things to know about Quotex
…Trading on Quotex is as simple as asking one question: “Will this particular market be above this price at this specific time?”
If your answer is yes, you buy. If your answer is no, you sell. Here are other things to know about Quotex.
- Quotex allows traders to risk anywhere from $1 to $10,000, giving you control over your capital exposure.
- Each contract clearly shows the maximum potential gain and loss. This helps with decision-making and also prevents catastrophic losses.
- If you win a trade, you’ll win the amount shown when you were placing the trade.
- If you lose a trade, the amount you risked is what will be deducted. Nothing more.
- Quotex also offers the option to exit a contract early, which minimizes your risks and losses if a trade isn’t going as expected.
7 trading rules to follow before you start trading on Quotex
- Stay informed about market trends and focus on trading in liquid markets.
- Choose the markets with high returns that align with your trading goals so as to improve your profit ratio.
- Determine your risk amount based on your risk tolerance, ideally not exceeding 1% of your trading capital as a beginner.
- Develop a proven and effective trading strategy, such as the demand and supply strategy that we’ll be using in this tutorial.
- Execute your orders after a retracement, which can enhance your chances of success.
- Analyze higher timeframes before trading on your chosen timeframe to make more informed decisions.
- Be disciplined and know when to take a break from trading to avoid over-trading.
Consider taking a break after 3 consecutive losses reaching a 5% loss or after achieving a 10% gain on your trading account.
Once you have prepared according to these rules, select your desired expiration period and place your trade. Be ready to wait for contract expiration or close out your trade early if circumstances change.
Remember, trading can be emotional. So never risk more than you can afford to lose.
Here’s a video of one of our top traders at ChartsEmpire executing 10 consecutive trades, risking just 1% of his account balance (which is $530) using the supply and demand trading strategy. Each losing trade means $530 loss.
By the end of this video, we’ll know if Quotex is a scam or a legitimate platform.
