My name is amr farahat from egypt, i started trade in forex 2007 actually i didn’t have enough training time in DEMO account and i just opened a real one with a IFC markets broker, it’s consider a good broker for me. i lost first time my account cause i put a minimum money $200 which i noticed after that it’s really a smallest amount to start trade in standard account, later i put $1000 however my account doesn’t last longer , i made some successful trades but i made a big mistake when i left a trade opened for weekend i thought my trend will be my friend as they always said but suddenly i lost 70% from the profit a gained plus my basic account. finally i took the rest of my money… closed my account… … now days i need to return but with more real education about forex also i heard with the binary option trade . wanna know the difference
Welcome aboard. Wow what an experience. Actually, it’s pretty typical with most inexperienced or new Forex Traders.
I will say this. If you’re new to Forex I would also caution you to not dive into trading Binary Option. It is a fast moving Market and you will most likely lose your shirt in it quickly as well.
Stick to the basics and learn the foundation first. I’ve been coaching and mentoring Forex Traders for years and have more than 26 years of actually trading. My advice is to learn your system (whatever your choose) by back-testing it and them using a demo account for forward testing it. Only go live or start trading after you have a well defined and functional system that is profitable.
I hope that you take my advice and if you need any assistance don’t hesitate to contact me. I will always strive to give you an unbiased opinion.
Hello Amr Farahat, welcome to our forex community! Glad to know you’ve learned some valuable lessons in forex trading and that you’re looking into binary options. This School lesson might help: Binary Options 101 Archives