Hi Y’all,
My name is Amadeu, I am moving from the binary options market after getting a couple of thousands of dollars frozen by scammer brokers. I am here to Learn Forex and become a full-time professional trader.
1 year from now I want to become a better trader and help other people get into the market in the best way.
Let’s get the ball rolling.
Hi and welcome to Baby Pips @Amadeu
It may be a good idea if you spend 5 minutes to explain what your experience was with Binary trading, how you chose your broker and how the broker managed to freeze $2K (what scam do you think they operated)?
The reason I suggest this as a way of starting is because many newcomers ask questions like:
What is the best broker to use for Forex?
How much leverage should I use? Should I choose a broker that gives me 500:1, and why do the US brokers only allow 30:1 leverage or less?
To an extent, participating in the Education section (School of Pipsology) will give you a good start in Forex, but there is no substitute for asking questions on the forum.
What I most often ask newcomers are the following:
What do you expect to get out of trading as an interest?
How much time to you have to dedicate to learning how to build a robust trading plan and follow it?
Do you think you have the required attributes to become a successful trader? Initiative, dedication and patience?
How much money do you intend to trade with that would not negatively impact your life if it were all to be lost by not sticking to a plan?
You can learn up to the point of confidence without losing a penny, but can you wait till you understand why you can make money, or are you as impatient as the other 99% who do not wait to learn on demonstration account, and prefer to experience a complete blowout of their funds.
Hi Mondeoman,
I was frozen around U$67k to he precise. I was trading with iq option broker for over 2 years making small profits, when I started making huge profits they blocked the account with no reason, in my view all binary options are scammers. They will be nice to you when are you are starting without a strategy and without discipline and losing money, from the day you start making profit you are an enemy, they make your trades slower, change your payouts, take months to approve your withdrawals to play with your emotion to see if you trade more until you lose.
It’s a dirty game, the countries where they operate ? Cyprus, Marshall islands etc… the governments don’t really care they won’t answer you(it happened with me with Cyprus regulators).
