Am new to trading and looking forward to the challenge and making a successful career with lots of quality time. What attracts me is learning new things and paying no tax! Don’t get me wrong, I like to do my bit and aim to give back to needy causes when I am making loads of dosh. Hope to get lots of advice and share mine when things go right.
Hey Perry! Nice to see you in our forex community. Have you started with the School of Pipsology? School of Pipsology | Learn Forex Trading
Yes I have already started the course and it is a nice touch. It is nice to see that so many people are willing me to succeed! I wonder if you can help. i registered with UBinary as my broker and they want to see my credit card as well as utility bills and other info. I deposited USD250 with them to start with and they then tried to withdraw over a grand GBP, then tried 500…is this normal practice?
Your enthusiasm is great because it shows you’re ready to hit the ground running.
But, if I had one piece of advice to offer you, it would be to not even consider trading with a live account until you have a basic understanding of how the FX market works and have tested a strategy out for a few months on a demo account.
At this point, you can pretty much kiss that $250 goodbye because you’re simply gambling.
The process is more important than the results.
Don’t become another statistic.
Now, $250 is most likely not going to put you out on the street if it’s lost, but, my point is that you’re rushing into a marathon ran by professionals, and you don’t even know how to crawl yet. It’s a beat-to-death metaphor, but it will always hold true when it comes to trading.
Go through the educational material here, and read as many books as you can written by professional traders on trading mindset. Trading is more of a psychological battle against yourself, than it is about 1’s and 0’s.
That doesn’t sound normal, and downright scary! What did they say when you contacted UBinary on this issue? I haven’t read much on UBinary so I’m very curious. Good luck!
I would agree, use a demo account first until you find a fully tested strategy that works, I lost £200 in first 6months which nearly put me off all together.
Please let me know if you need some one to one advice, message me or email me on <[email protected]>
Cheers Paul…will do. The broker tried to withdraw funds from my account so I blocked it . He then told me that I had agreed with him to invest more money which was not the case! Anyway I told him to not trade with my money without my permission and will only use money on my trade account only.
They told me this is standard and the norm- it’s so they can deposit trade money into my bank account. I did some research on them and some say they are a scam while others are delighted. So far I have doubled my investment using 60 second trading mainly in gold and oil with some small success in eur/usd.
I have talked to the broker who put me at ease a little and it has been agreed to only trade small with what’s in my trade account and no trades without my permission.
Yes thank you pipDiddy it is a great thing to have and I am less bewildered by the terminology! Tho I am of above average intelligence you guys are hard to understand for a newbie! ! Lol
Welcome Mongster! Glad to see you’ve got enthusiasm. As far as uBinary goes, from your description, there seems to be a lot of red flags, I’d advice to keep a close eye on your account or credit card to make sure there are no further withdrawals. A real good way to see how legit they are is to request for a withdrawal and see what their response will be. If its no fuss no muss, then that’s good, but if there are a ton of excuses you might want to reconsider your stay with them.
Just my two cents.
Hello!
Hope you will find a lot of experienced specialists here. To be honest I am looking for them as well. Hope they are not to busy and will find some time to asnwer our questions.