New to trading and looking for a mentor.

Hello all,

I am new to trading and have started a live account after researching the subject for a few months.
I have been successful. started with $750 + $750 bonus. ( rookie mistake)
Having traded for a few weeks after my 6:00am-3:30pm job. I have made over $1000 profit.

That was the good, now the not so good.
I have mainly traded without caution to the wind at 1m options. I have now put my emotions in their place.
Candlesticks are helping me paired with bollinger bands and a MACD on my fxstreet chart.
When trading at 5m, a candlestick closes outside of the bands. I check the trend and place my put or call accordingly.
This sounds ok to me but I feel that I am missing out on more meat of the subject. this is leading to lack of trading confidence.
I do not know my win/loss ratio. I will be documenting this from now on.

My goal is to learn as much as possible. I will be starting a family soon and will be the stay at home dad.
I want this to replace my income. I can put a lot of time in as long as it doesn't keep me out of my current job.
Also, I'd like to make the transition within two years time. Is this reasonable?

I don't need to be a millionaire but rather make a livable income. Hopefully, the responses left here will help me and others reading this post.
Thanks for reading!

-Matt
"You mean we are building space junk?"

Comments

  • crewsdavidcrewsdavid Posts: 12
    buck728 said:

    Hello all,

    I am new to trading and have started a live account after researching the subject for a few months.
    I have been successful. started with $750 + $750 bonus. ( rookie mistake)
    Having traded for a few weeks after my 6:00am-3:30pm job. I have made over $1000 profit.

    That was the good, now the not so good.
    I have mainly traded without caution to the wind at 1m options. I have now put my emotions in their place.
    Candlesticks are helping me paired with bollinger bands and a MACD on my fxstreet chart.
    When trading at 5m, a candlestick closes outside of the bands. I check the trend and place my put or call accordingly.
    This sounds ok to me but I feel that I am missing out on more meat of the subject. this is leading to lack of trading confidence.
    I do not know my win/loss ratio. I will be documenting this from now on.

    My goal is to learn as much as possible. I will be starting a family soon and will be the stay at home dad.
    I want this to replace my income. I can put a lot of time in as long as it doesn't keep me out of my current job.
    Also, I'd like to make the transition within two years time. Is this reasonable?

    I don't need to be a millionaire but rather make a livable income. Hopefully, the responses left here will help me and others reading this post.
    Thanks for reading!

    -Matt

    all this can be mad possible depending on the system you chose to trade with
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    edited April 2017
    buck728 said:

    Hello all,

    I am new to trading and have started a live account after researching the subject for a few months.
    I have been successful. started with $750 + $750 bonus. ( rookie mistake)
    Having traded for a few weeks after my 6:00am-3:30pm job. I have made over $1000 profit.

    That was the good, now the not so good.
    I have mainly traded without caution to the wind at 1m options. I have now put my emotions in their place.
    Candlesticks are helping me paired with bollinger bands and a MACD on my fxstreet chart.
    When trading at 5m, a candlestick closes outside of the bands. I check the trend and place my put or call accordingly.
    This sounds ok to me but I feel that I am missing out on more meat of the subject. this is leading to lack of trading confidence.
    I do not know my win/loss ratio. I will be documenting this from now on.

    My goal is to learn as much as possible. I will be starting a family soon and will be the stay at home dad.
    I want this to replace my income. I can put a lot of time in as long as it doesn't keep me out of my current job.
    Also, I'd like to make the transition within two years time. Is this reasonable?

    I don't need to be a millionaire but rather make a livable income. Hopefully, the responses left here will help me and others reading this post.
    Thanks for reading!

    -Matt

    Hi Matt,

    Blue Sky Binary is a prominent structured education provider with a range of courses and tailored trading tools designed to give you state-of-the-art techniques in generating profit in Binary Options and now FX as well. You can find out more at www.blueskybinary.com and our Academy.

    We offer a 7-day-free trial where you can test us out to see if we are right for you.

    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

  • OleboboOlebobo Posts: 108
    I think a long time will go before you can withdraw some funds from your account, because of your "rokie mistake".
    Unless you can ask the broker to take back the bonus of 750,-
  • The_Geek_MHThe_Geek_MH Posts: 544 mod
    they won't take it back, if they do they will take any profits away too, and stick you with any losses,
  • OleboboOlebobo Posts: 108

    they won't take it back, if they do they will take any profits away too, and stick you with any losses,

    I dont know fxstreet, but some brokers doo...they might even split the profit in some cases
  • The_Geek_MHThe_Geek_MH Posts: 544 mod
    Olebobo said:

    they won't take it back, if they do they will take any profits away too, and stick you with any losses,

    I dont know fxstreet, but some brokers doo...they might even split the profit in some cases
    NO, they won't. The bonus is a total scam to prevent you from making money or doing any withdrawals. If you take a bonus and then dispute it all profits will be taken from you and you will be stuck with any losses you incurred which means your deposit will be smaller for sure or totally erased at worst.
  • OleboboOlebobo Posts: 108
    You are probably right....in most cases...
    In most terms & conditions it says, that no analyst or account manager or affiliate can draw back any gift or bonus given to a traders account..
    But it dosent say that the withdrawal department can not...but they always send you back to your account manager to handle the case...And after a while ping ponging between departments, you are so angry and dissapointed, that you dont think logical anymore, so you blow your account, because "they surtenly shall NOT have my money"...and the company knows that....
    That kind of psycology dosent work with you and me now, but it did work with me a couple of years ago, like it does with many newcommers today. How many newcommers do you think will read the total Terms & Conditions, and understand them...BEFORE you invest ?
  • OkaneOkane Posts: 1,168 admin
    Yeah most people never read the T & C. But regardless, it's really bad that brokers even make up such horrible terms in the first place.
    I would never deposit with a broker with unfavorable terms and conditions even if I am not accepting bonus. Because a bad term says a lot about
    how they will behave towards clients in general.
  • FerinFerin Posts: 19
    You won't be able to find a mentor who will help you for nothing. No one will deal with you for free because learning takes quite a lot of time.
  • OleboboOlebobo Posts: 108
    Ferin said:

    You won't be able to find a mentor who will help you for nothing. No one will deal with you for free because learning takes quite a lot of time.

    Maybe, and perhaps it could happen ? I think a "mentor" that has never tried to be a mentor before, will learn a lot too ? Just think about all the stuff he have to go through again :)
    But it is not easy to find a "Mr Miagi" in the jungle...
  • Gook32Gook32 Posts: 13
    You can not trust any one on the Currency Markets, You can choose a person to help you out from your problems but never share your confidential data with him as it can be a scam. So, never play a blind move at any cost. Stay Safe! and Best of luck!
  • JiglerJigler Posts: 58
    Sometimes you need to consult the experienced traders when you feel confused. A mentor can help you in a much better way in these kind of situations. I hope you will find a best one here and you can also contact me any time when you feel something unsatisfactory.
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