helloboy111
Newbie
- Mar 1, 2014
- 37
- 3
I'm also curious where you find your mentor...
Me WINNING At Binary Options!
- Thread starter ashj1893
- Start date
PassionateWriting
Senior Member
- Feb 27, 2014
- 872
- 102
The things is, having a few winning days doesn't really mean Binary trading is not gambling but a source of consistent income. All it takes to wipe out your profits as well as the entire capital is just ONE BAD WEEK.
NoirHat
Regular Member
- Feb 4, 2011
- 449
- 216
That's why you FIRST learn about money management and risk management. THEN move on to a trading strategy.
Price action, candlestick formations around major S/R areas will always be a rock solid, consistent trading technique.
Hector DeVille is one of a few people who has a great course.
if you can trade with a 50k account (that's the hard part), there's no reason you can't be a full time trader..and just keep slowly building and watch the magic of compounding
Price action, candlestick formations around major S/R areas will always be a rock solid, consistent trading technique.
Hector DeVille is one of a few people who has a great course.
if you can trade with a 50k account (that's the hard part), there's no reason you can't be a full time trader..and just keep slowly building and watch the magic of compounding
islandman1010
Elite Member
- May 10, 2008
- 2,221
- 587
Ive been learning and trading Binary Options since last year mainly trying to understand the candle patterns, trends and indicators and I can make money at this but the biggest scam for Binary Options are all the bots that we can be affiliates of. How many of those glitzy sales pages show a guy with $2,000,000 in the account and we are meant to believe them. If I had $2,000,000 in my binary account I would have that out as soon as I could.
To ashj1893. Im interested in your first post where you said you don't really use the indicators. Can you expand on that a little please. Thanks
To ashj1893. Im interested in your first post where you said you don't really use the indicators. Can you expand on that a little please. Thanks
ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
Thing is it takes an idiot, or uneducated person to blow a Binary account. The thing is you want to place a cap on your trading amounts. Risk management, money management, discipline are all key. Even with having a really bad week, a good and patient trader wouldn't blow their account because they will step away after say, 3 straight losses and study why they're losing, correct those mistakes and go back in. It's also better to only risk say 5%-10% of your account per trade.
ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
I do trade with them from time to time - but when I use them, it's only if I'm unsure of trend direction, reversals, etc. The bulk of my trades are through naked charts, without indicators. When you understand Price Action, and the fact that the markets move the way they do - on purpose you'll start to develop the one thing no one, not even I could teach you - instinct.
islandman1010
Elite Member
- May 10, 2008
- 2,221
- 587
Thats very interesting. I have seen a video of where a trader calls 180 trades correct in a row based on price action and support and resistance lines. Are you saying that you have nothing on your charts generally at all or have you got S/R, moving averages as I always though that short time candles (1 min for example) were just too noisy to get a decent idea of where things might be in the future.
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ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
I know what video you're talking about, haha and yeah - but those lines aren't indicators, they're just lines. Indicators are things like Moving Averages, RSI, MACD, Bollinger Bands, Ichimoku, etc. I use S/R from time to time, but the candles are what you should really be looking at. There's lots of different candle patterns you'll need to recognize.
BTW - I've gone as high as like 70 in a row, lol
islandman1010
Elite Member
- May 10, 2008
- 2,221
- 587
70 in a row is awesome. Im ok with most of the candles and have studied their shapes etc for a few months to try and get the picture of what they are saying. On that video I think he just draws the lines as recent areas of interest and uses them as a guide but its very impressive. I would be interested to know roughly how many trades a day you would tend to make and do you stay on 1 pair and trade that one for the whole period that you are trading that day.
HostKnight
Registered Member
- Dec 2, 2013
- 93
- 29
Have they paid out? I've read most of them are scams.
ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
Yes, I am always paid out. Most of them are not really scams, just some. And even then the bad ones are really obvious....
Raffy
Regular Member
- Nov 30, 2012
- 211
- 646
Binary option brokers are 100% scams, 100% of the time but they are quite lucrative as an affiliate. Please, if you really want to play this game don't click this guy's affiliate link. Do your homework, find a real, legitimate broker/clearing firm that trades options on an exchange - CBOE, CME, etc depending on what you want to trade. Literally no professional trader who actually makes money uses these binary options scam "brokers" and for good reason.
ashj1893
Regular Member
- Nov 5, 2011
- 212
- 120
You sound 100% ignorant of the industry, if not a complete idiot. You just said NO Professional Traders make money using brokers? There are Binary and Forex forums and even Facebook, as well as many that I have connected with that make their entire livings trading Binary Options. Also, if you knew anything would have mentioned the NADEX is an exchange you could trade with as well, which is something I did already. You also assumed like a retard that I've posted affiliate links which I haven't if you actually read this thread which of course you didn't given the level of fail in your post. Of course, you will find "scam" attached to not just Binaries, but FOREX, Penny Stocks, CPA networks, and even MLM's and other ways of making money. That doesn't change the fact that the people with the knowledge and proper application of it are the people who prosper in business. Granted, there's a LOT of bullshit in the finance sector promising overnight riches, much like IM, but you have to use common sense. This is the last time I will respond to any garbage you're spewing out your mouth in an attempt to tarnish my reputation. You're now ignored.
On topic: As I said, I will be uploading a video going in depth as to what Binary Options are.
Binary Options are a 50 / 50 gamble whether you like it or not, and yes, no serious trader trades Binary Options, whether you like it or not. Your constant need to mention your "mentor" tells me you are fishing for something. Would your "mentor" happen to be you?
Duffers5000
Elite Member
- Apr 1, 2012
- 2,477
- 7,772
Binary options are a load of wank. Thats why legitimate traders dont touch them only self regulated gurus.
Any clown that claims to have a system is talking through his arsehole. There is no system, its a straight up or down gamble. Winner takes all.
Anyone that pushes a system/forum/affiliate is a chancer/scumbag/robber. Check out the OP with his passive income bullshit, full of crap. Cant wait till him and all his other (alt accounts)binary buddies are banned
If you invest for the thrill you shouldnt be investing. If you invest for fun bet on sports at least you can watch a game and cash out with a percentage of your stake when its obvious you are not going to win.
If you are a rockape risktaker and have to go all in a bet then go to the casino and play roulette at least you will get free drinks.
Any clown that claims to have a system is talking through his arsehole. There is no system, its a straight up or down gamble. Winner takes all.
Anyone that pushes a system/forum/affiliate is a chancer/scumbag/robber. Check out the OP with his passive income bullshit, full of crap. Cant wait till him and all his other (alt accounts)binary buddies are banned
If you invest for the thrill you shouldnt be investing. If you invest for fun bet on sports at least you can watch a game and cash out with a percentage of your stake when its obvious you are not going to win.
If you are a rockape risktaker and have to go all in a bet then go to the casino and play roulette at least you will get free drinks.
islandman1010
Elite Member
- May 10, 2008
- 2,221
- 587
I didn't see the OP suggesting anything about passive income etc or an affiliate link anywhere. What is a load of wank is people knocking something that they show limited knowledge of. Binary Option brokers are often scamming people but the fact that you can make an up or down call on a currency is no different to the Stock Exchanges around the world. Its what traders of anything do. Every trader at the Stock Exchanges are making the same call of where they think it will be at some time in the future. So you can use the same charts, indicators and everything else they use but I dont see anyone calling them wank.
What would be a gamble would be me betting on Arsenal v Man U or something like that as I hate football. Studying charts that the Stock Exchanges use is trying to give yourself an edge thats all and make the same calls they do. If you can read the charts then it will work for you. Simples really.
IMpossible
Supreme Member
- Apr 15, 2012
- 1,344
- 304
trading = gambling. period.
Duffers5000
Elite Member
- Apr 1, 2012
- 2,477
- 7,772
Show me a trading book built solidly on binary trades over a one year period thats shows profit then. I bet you cant, in fact I know you cant it doesnt exist.Heres a basic overview of binary trading from forbes http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/. Theres lots of forums out there that would offer contradictory information but then you can decide if you like your financial information from Forbes or some guru on a forum.
Everything else you said there seems to relate to normal stock trading. You buy at X and hope to sell at Y. If the stock drops you lose....maybe 10%-30% depends on your exposure and the actual strength of the stock. Binary trades will wipe you clean out when they go wrong thats the danger.
I guarantee the OP is referring PMs to signup with his Guru and his sort of bullshit is a dangerous cancer that shouldnt be spreading around here. Binarys are a scam with a built in Negative expectancy.
You know there is no method when the guys argument is "I know more than you" and cant show us the actual results. Like new age hippies pushing their pseudo science.
Everything else you said there seems to relate to normal stock trading. You buy at X and hope to sell at Y. If the stock drops you lose....maybe 10%-30% depends on your exposure and the actual strength of the stock. Binary trades will wipe you clean out when they go wrong thats the danger.
I guarantee the OP is referring PMs to signup with his Guru and his sort of bullshit is a dangerous cancer that shouldnt be spreading around here. Binarys are a scam with a built in Negative expectancy.
You know there is no method when the guys argument is "I know more than you" and cant show us the actual results. Like new age hippies pushing their pseudo science.
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