With Inflation Kicking, Learn How To Invest And Understand Trading

Extra income hurts no one. With our daily hustle at work and struggling with a basic standard of living with a peanut-like salary, extra income is the need of the hour. In current times, inflation is too much and can cause purchasing power to decrease and the currency to lose value over time. Therefore, investing can be a good option not only to protect yourself from this devaluation but also to multiply equity and generate that extra income you have been yearning for.

Image/Binomo

There are many investment options out in the market today. The safest and most common are savings accounts, which are risk-free, but have small gains and are not immune to inflation; or government bonds. You can call them reliable but they can have complicated purchase procedures and may require higher down payments.

Some people prefer to invest in real estate. They are more profitable and can guarantee additional income, either from rent or serving as housing, but they require a high down payment. And we also know many builders in the recent past who went bankrupt. So it does come with a lot of risks.

And then there is trading, which offers the possibility of earning additional income more quickly, where the trader must make a prediction as to whether the price of the asset will rise or fall. In this case, the investor¡¯s objective is to identify a trend, make a prediction about the price of an asset, and make a trade. The aim is to make a profit from the difference in the buying and selling prices.

The young and old, you may think it¡¯s a complicated process and need an expert and that¡¯s where Binomo steps in.

Binomo offers beginners a demo account and a virtual amount of $1000 upon signing up. With this, the company provides the user the possibility of learning how to trade in practice, having a genuine experience, with access to quotes, indicators, and strategies.

¡°Trading is a modern way to diversify income. People used to think that only professionals with an economic background could trade, but this has changed,¡± says Maria Fernanda Sanchez, Binomos director for South and Central America.

¡°The numbers have shown that the initial learning leads people to continue investing in this way motivated by their results. Over 94% of investors in Binomo switch to a real account after one month of using the demo account. To have a real account, the minimum trade amount is only $5. Our platform is suitable for both beginner and professional traders, because there is a lot of information and financial education opportunities,'' says Maria Fernanda.

¡°Regulated by the International Finance Commission, Binomo operates in 133 countries and currently has thousands of active traders. With the platform, which is available in any browser and on Android and IOS mobile devices, it is possible to trade at any time. The main advantage of trading is accessibility. You can trade anywhere, and it does not take much time. Investing is an option that can help you save money, get an extra income, and maybe the best way to avoid inflation,¡± Maria Fernanda advises.

Here are tips and tricks that can help you get started in the trading universe - Learn the main rules about risks and how to manage them; it will help you take control in any situation

First thing first

- Let go of fears and emotions; fear stops your progress and emotions cause mistakes

- Practice and practice again. Never back down and assess your hypotheses on the demo account; this will improve your trading skills

- Analyze the market before and after every trade; several events can affect the price of an asset

- Keep a trader¡¯s journal and write down all your trades to become the jack of all trades.

Warning: Your capital may be at risk.