Starting your first trade on Quotex can feel exciting—but if you’re not careful, it can also be overwhelming. Many beginners make common mistakes in their very first steps that cost them money and confidence. That’s why learning how to set up your first trade the right way is essential for long-term success.
This beginner-friendly guide will walk you through everything you need to know before you click that “Trade” button, step by step.
Step 1: Practice on the Demo Account First
Before risking real money, it’s important to test the waters in the demo account. Quotex provides a virtual balance that lets you simulate real trades with no risk.
Why this matters:
The demo account helps you understand the platform’s layout, practice your timing, and get familiar with price movement. Spend a few days practicing until you feel comfortable with:
- Choosing assets
- Selecting time frames
- Predicting price direction
Step 2: Choose the Right Asset to Trade
Quotex allows you to trade multiple asset types, including:
- Currency pairs (e.g., EUR/USD)
- Commodities (e.g., gold, oil)
- Cryptocurrencies (e.g., Bitcoin)
- Indices (e.g., S&P 500)
Tips for beginners:
- Start with a currency pair like EUR/USD; it’s stable and has high payout percentages.
- Avoid volatile assets like crypto on your first day, as they can be harder to predict.
Step 3: Set Your Trade Amount
Once you’ve chosen your asset, you’ll need to decide how much to invest in your trade. This is where risk management begins.
Beginner tip:
Start small. Even $1 is enough to place a trade. Never risk more than 1%–5% of your total balance on one trade.
Why this matters:
Small trade sizes reduce emotional pressure and give you room to learn without blowing your capital.
Step 4: Choose the Right Expiry Time
On Quotex, you can set the duration of each trade. This is called the expiry time and can range from seconds to several minutes.
What to consider:
- For beginners, a time frame of 1 to 5 minutes is a good starting point.
- Avoid ultra-short trades (like 30 seconds) until you’ve gained more experience.
Shorter expiry times require faster decisions and carry more risk.
Step 5: Analyze the Chart Before You Trade
Never place a trade blindly. Even a simple chart analysis can improve your results. Quotex offers several types of charts, such as:
- Line charts
- Candle charts
- Bar charts
How to analyze:
- Look for trends: Is the price generally moving up or down?
- Identify key levels: Support and resistance zones help predict reversals.
- Use indicators: Try simple ones like Moving Averages or RSI.
You don’t need to be a chart expert—just develop the habit of looking before you leap.
Step 6: Choose Your Trade Direction
Now it’s time to make your decision: Will the price go UP or DOWN?
- If you believe the price will rise by the expiry time, choose “Up”
- If you believe it will fall, choose “Down”
This is the core of binary trading—predicting the future price direction over a selected time frame.
Pro tip:
Don’t rush. Wait for clear signals, especially if you’re trading on a short time frame.
Step 7: Confirm and Monitor Your Trade
After setting your trade amount, expiry, and direction, click the trade button to enter the market. Your trade will be active until the countdown ends.
During this time:
- Avoid panic: Don’t close or cancel the trade emotionally.
- Observe the chart calmly: Use this opportunity to learn how price moves.
Once the expiry hits, your result will be shown instantly.
What Happens After Your First Trade?
Whether your trade wins or loses, the most important step is review.
If you win:
- Ask yourself why it worked.
- Was it strategy, or just luck?
If you lose:
- Stay calm.
- Look at what went wrong: Was your timing off? Did you misread the trend?
Keeping a trading journal from day one can help you grow faster. Write down:
- Trade details (asset, amount, expiry, direction)
- Reason for entering
- Outcome and key lessons
Final Tips for First-Time Traders
- Avoid overtrading: One or two quality trades are enough for a beginner session.
- Stick to your limits: Don’t increase your stake just because you won once.
- Trade with a clear mind: Never trade when angry, tired, or emotional.
Your first trade on Quotex is just the beginning. Focus on building good habits now, and you’ll set the foundation for consistent, disciplined trading in the future.