Started with BinaryOptions and went through psycho hell... ;-)

Hello there!

Let me tell you that i really like babypips and especially the School which introduces all of us into the wonderful and somehow strange world of Forex! Great job fellas, i enjoy reading (and learning from) it.

How did u get here? My first contact with forex was with binary options. I’ve watched some (funny) videos on *tube about making money “easy” with system xy. Yeah, that must be cool i thought and opened up an account with 24option and some other ones, but i stick with 24option. Deposit 250€ and got my demo account, well i started. Of course with 60 second time frame, because i wanted to become wealthy veeery quickly. And hey, the binary broker says that it’s easy as well. Either up or down, i mean everybody can do it right?

Well, how wrong i was! Not only that it was harder than i thought, i experienced every single emotion one can imagine; and this in a veeery strong manner. Anger, fear, greed… all of them! Although i traded on the demo account, it stressed me out like crazy and with my 60 seconds “cannot fail” martingale “system”, i got so mad that i shot 250€ of my real accounts money into the wind - of course i lost them…
To be honest, i then shouted, got veeeery :mad: and even slaped myself in the face numerous times because i was so dumb to trade like this. Was i really the only person in the world to be that dumb? Is everybody else making good money except for myself? (Of course i got called from cyprus all the time for “guidance” and stuff like that, didn’t really help me, but not because of them telling me bs, it’s because i jumped around like crazy)

Ok, i slowed down a little bit and tried to handle my emotions, read a lot about trading psychology but also digged in a lot of other so called “systems” and indicators. None of them worked in the long run. I thought to myself again: i’m the dumbest of the dumb, everybody else seems to be sucessful except me. Well done u idiot…
At least i didnt burn more of my real money, just traded my demo - at least something i learned.

Where am i know? Started to realize that forex, in whatsoever manner, is not quick and easy money! I started to dig into the basics (with babypips and some other ressources). The more i get involved, the more i see how some (especially market making) brokers are playing with the mindset of newbies. But i cant blame them, because when u know what u do, it can pay off for you. Regardless of what they offer, at the end it’s my personal decision, driven by fear/greed or whatever that blows my account or gets me my profit. Some of them makes that easier though by giving you the impression that it’s just super easy and everybody can do it. Well, in fact everybody can do it, but dont ask for the outcome.

Well, where am i now?
I experienced a lot of emotions in the last 3 months, lost 250€ of real money (not THAT much), read a lot and my head is getting bigger and bigger and… more confused. Still i am afraid to trade “by myself”, still trying to find “that one system” that’ll do for me. I know this won’t be out there, but i’m not trusting myself yet and what i learned so far to trade upon my own decisions based on my current knowledge. (-> What if it just doesnt work out? With these “systems” i can blame THEM for not working. When i trade by myself, it’s 100% me that’s on the wrong track if it won’t get me pips in the long run)

So, my question is:
How do i get rid of that “jumping around looking for systems” and get more confidence (and patience) in my own skills that might(!) be within me after a long road of learning, trying, evolving and keep going?

Like most of us newbies i guess, i just wanted my share of the big money, just a little bit. Blended by internet videos and all kind of ads i thought it was that easy. :56: Nope sir, it’s not!
BUT: i’m still here, even after what i’ve gone threw. And this was not funny at all, i took most of it highly personal :eek:… This is not over, maybe (forex) trading is just not right for me, but i won’t give up that easy.