I know there is a lot of shady business in the Binary Options world but I’ve been trading them long enough to avoid them.
This time last year I attempted to turn £22 into £10k. I got as far as £3600 and then disaster struck. The reasons for the failure were many, wrong time of day to be trading, emotional trading, ego etc etc…
I’ve learnt a lot since then and thought it would be a good time to attempt the challenge again…
Wow, i just looked into these things a bit more. They really are a totaly scam. They are run by bucket shops which i’m pretty sure if you could burn them would either go bust or just turn you off. Also they for the most part seem to charge margins of 15-20% which is totally insane. Wow, just wow.
Yeah, they are essentially bucket shops as you are betting against the broker. Marketsworld are great though, I’ve been with them for over a year and they’ve always paid out. As I said initially I am very much aware of the shady business practices of many of these brokers and for that reason recommend starting off small and building up taking withdrawels every two weeks.
With the blog I hope to share some knowledge I’ve picked up from over the years on a range of subjects such as price action, psychology and money management.
Cool, i wish you luck, as i say it was not really a dig at you it was more that the bookies make it really hard for you to out bet them since the margin is really high. High street horse racing bookies have on average a 30% spread so they are at least better than that. Props if you can make it work.
Yeh am aware of the odds which aren’t great but as long as you play online reliable setup s then it is possible to increase the account size fairly quickly.
Finished the day on £59.94 which is 111.5% increase on first day. Unfortunately I work on tuesday and wednesay so can only really trade for 3 days a week.
It seems thechatter took a break from trading. I am inspired by the challenge and will post my progress here. Anyone else is welcome to join me. It will be interesting.