Nearly Lost All

I am a 60 plus male. Very basic education. Have been trading or gambling Binary for about 2 years with quite a bit of luck. Dont ask me how. Have traded against trends mostly. Discoverd Forex. Considered Binary my training. Thought I knew it all. Got plumb licky on trial account. 3 days traded $20,000 profit on $25,000 account. Could not wait to trade live. Deposited $500 away I went with a 2 or 3 year plan to be wealthy. Double account 11 times to $1 Million. All good on paper. 3 days made $30. I would not have been able to be told. Held half a lot 5000. Market went against me. Bought a lot 10,000. Down I go. Bought 2 lots 20000. Done a few other profitable trades. 1 netting me $40. Closed above 3 and 1 other at a loss. Final Net posotion overall $70 proffit. :blush::blush::blush: Guess what. I am now one willing student who will be useing trial account for some time. Hope to meet you all soon.

Welcome to the forum. I highly recommend that you trade with demo account first, and never deposit real money until you discovered a real system that has high winning rate. Always watch for money management (in my case, I even had my own excel doc to manage my monthly budget for trading). There is no perfect trading system, so always trade within your budget. Look around this forum and find members with lots of posts to learn from them. Other than that, you can also watch free videos on Youtube to see how to use certain indicators/tactics wisely.

AzlanAR Thank you for reply and help. Happy trading.

Have you decided to continue with Binary after your “training”? I know some people do make money this way but I also hear of binary firms that simply close up shop and disappear with the clients’ cash, or who just jack up their prices with no relation to the underlying market, just to trigger clients’ losses. Its unregulated in most countries so its surely a gamble just to use these guys?

Hello tommor No I dont think I will continue with Binary. Yes I had an account made $6,000 in a month. Yes you read right. They put computers against me. Another had done well. Turned trial account from $20,000 to $80,000 in a couple of hours. They just locked me out real money account was gone.

Hi, Pip Student 88. You said it well…not trading Binary Options but basically gambling. And of course that they will lock your account once you have actually won enough money. Many people are trying to make money out of this but unfortunately they are robbed eventually by these scam sites. Take a look at this thread: 301 Moved Permanently
Like AzlanAR suggested, try to open a demo account to test your strategy, spend some time in this forum, there are many helpful threads and people here. The other option is while practicing on the demo, to open a micro account to compare the conditions and to see how it goes on live. Good luck :slight_smile:

Sebastiano. Thank you very much for your reply. Very much appreciate all your help and guidance. Happy trading. John.

You are very welcome, John! We are all here to seek guidance and help each other as much as we can. Happy trading to you too :slight_smile: