How Did You Come Across Binary Options? [share]
Alex

LEVEL 10 : SENIOR

REVIEWS 9 | REPLIES 84

#1815

Alex

September 1, 2015 at 1:20 pm

Hi guys,

After writing my 2 part article amateur to professional I started thinking…. Would it not be awesome if you guys could share your story as well? How you first came across binary options or just trading in general. I am sure we would get some interesting replies which should keep things fun while we might learn from each other at the same time.

Happy Trading,

Alex 😉

Leonel Hosier

LEVEL 2 : NOVICE

REVIEWS 6 | REPLIES 5

#1817

ITM-trading

September 1, 2015 at 3:57 pm

Ok guys, this is a good question and I have some spare time so I will share with you guys.

I was about 27 years old when I first got into trading binary options and the way I started was from a friend. He was on his phone staring at charts constantly and seemed very interested in it. Mind you this friend of mine was not the most easily distracted person so when I saw him so focused on what he was doing I knew it must have been something good. So anyways he showed me he was trading currencies via the internet on a web-based broker and explained how he could make money from the click of a button. I knew it sounded too good to be true but I asked him how regardless and he showed me how to make an account. He does not trade anymore, but I still do, he swears that it’s gambling, but I got a little more into it than he ever did. Downloaded MT4 on my PC and studied vigorously. The key was I never gave up and that is what separated me from him.

I now have an account with a few different brokers and make consistent profits monthly. It’s kind of funny thinking back to how oblivious I was to the intricacy of trading but am very grateful and thankful for the opportunity every day.
So that’s the story of how I got into trading lol interesting question I had fun replying to it!

Harry Ross

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 5

#1818

TrOOper

September 1, 2015 at 5:38 pm

I actually started off sports betting online and gambling on online casinos. I used to see these ads for binary options make money in 60 seconds and stuff like that but did not really pay it any mind.

One day I had some spare cash and my gambling hobby was beginning to get slightly less fun so I decided to try something new. I knew absolutely nothing about trading stocks, forex, commodities or anything like that and I felt very small minded going into it I was very humble.

I believe that is the reason I am still trading now because I never thought of it as something “easy”.

My background in sports betting allowed me to understand the concepts a bit better and realized that you needed a formula and could not just make money simply by guessing up or down.
Just the same way as I could never consistently make money betting on random sports teams to win a game.

So I started off with a simple RSI strategy that I still use today but mostly now I use price action and I trade the news releases.

So anyway I started off making a consistent profit and the broker calls me up to offer me some free signals.

I say why not so he says he will call me up every morning and tell me what to buy and sell based on what they thought was going to happen. (BIG MISTAKE) I ended up losing half of my money until the point came where I refused to follow his instructions anymore and tried to take my money out of the broker.

It was a long and painful process, but they finally processed my payment. I never went back to that broker again and now am trading with stockpair and do not have any issues withdrawing or anything like that.

Cheers 🙂

Jerrod Goodpasture

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 5

#1819

jbom

September 1, 2015 at 5:58 pm

Hi members! So here is my story…..

I started trading when I was 18 years old which was the legal age the broker told me I had to be in order to open an account. I opened the account with a broker called TradeRush. The reason why I chose this broker was because of a video I saw on youtube promoting this technique called the martingale strategy where all you had to do was place a trade in any direction and if it lost you doubled up your investment in order to make up for the loss in the next 60 seconds. The video showed the user making large profits and was very interesting to me. It didn’t seem like a bad idea at the time but looking back I was very foolish to believe that making money from trading would be that easy. My father traded stocks in the past and forex, he warned me that this was not a good strategy for trading and that eventually I would lose all my money. I really wanted to prove my dad wrong and also prove to myself that I could do it so I opened an account and started trading the strategy immediately. I had no knowledge of news, trading platforms (real strategies) nothing. I was simply gambling, and you know what? I made a lot of money that day. I actually took a 200$ account and made it all the way up to 1k. I bragged to all my family members about how rich I was gonna get including my father. Anyways so the next day I started trading again and lost my first trade, but that one loss brought my account down to 500$ after being up 1k. The thing with the martingale strategy was when it worked it was great, but even one loss could absolutely destroy your trading record. So this was not good money management at all but I did not know what money management was at the time. It worked like this, I would start with a 25$ investment after all the criteria was met in the broker.,I would then move up to 50$ if it lost then 150$ and the third trade was supposed to always be guaranteed if it ever got to that point. How naive was I to think this was true?

Anyways long story short I ended up emptying the account with my foolishness and my father did not even say I told you so. He encouraged me to study more and now I am actually more into trading forex than anything else. But that was the best lesson of money management I could have ever learned!

Happy Trading!

Jed Monreal

LEVEL 2 : NOVICE

REVIEWS 7 | REPLIES 5

#1843

Sniper

September 2, 2015 at 4:03 pm

Hi interesting stories guys.

My love for trading started when I was in high school. I always wanted to be a forex trader for some reason. Probably because of all the guys on Wall Street and the amount of money they were making. I had no clue what it was all about, but I just knew that it was my passion. So one day I came across an old friend of mine in the gym. We started chatting and I asked him what he was doing as a job. To my surprise he said that he is doing Binary Options. He explained to me that he uses it to trade the Forex market. At that time I was studying Marketing and Entrepreneurship and I had to do job shadowing in a few weeks time. I thought well what better way to learn? I asked him if I could come job shadow by him. He said yes!

So when my job shadowing time came I learned that he was actually giving other traders signals on where to buy and sell. He was really good and it looked so easy at first. He told me to go study the babypips website and learn everything I could about trading. I took his advice, but I soon realized that there is much more to trading than what meets the eye. While studying I was following some of his signals until I could trade on my own. I tried all kinds of indicators like RSI, MACD, Moving Averages, Bollinger Band, Fibonacci’s, Stochastics you name it. I tried various different strading strategies, money management techniques, martingale and so on. I was basically searching for the holy grail, but like most new traders I was too naïve to realize that there is no such thing.

So after all this trouble I started reading successful traders’ stories and journals to see what they were doing different. I came to realize that all of their charts were naked with no indicators on – just the odd volume or moving average here and there. This was strange to me because why would there be so many indicators out there and they weren’t using them? I started learning about support and resistance, trend lines, price action and supply and demand. This is where trading changed for me. I started feeling connected to the market. I was beginning to see stuff before they would happen.

I think that every successful trader out there had more or less the same path as I did. It was a bumpy ride but I am finally happy with where I am 3 years later. I have had ups and downs which I think every trader should have to overcome all their fears. It is important to focus on the stuff that you struggle with for example overtrading, overthinking trades, bad money management. You need everything to line up before you can become consistently profitable. Be disciplined and trade smart. For some the journey will take longer than other but be sure that you never give up and you will succeed.

All the best
Jed Monreal
aka Sniper:-)

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