I have lost over 20k trading. Anyone help me?

sibby131sibby131 Posts: 5
I have lost 20k whilst trading bit by bit, is there anyone who can put me back on the trading ladder? I was following some idiots signals, which to begin with, were good. But now I'm screwed. Would be amazing if someone could help!

Comments

  • OkaneOkane Posts: 1,120 admin
    Hey. It sucks to lose that much.

    We have some blogs and guides and you can start learning how to trade. You won't make money just by sitting on your hands.
    Check out the trading journal thread too!
  • arif9m9arif9m9 Posts: 33
    Just quit. Seriously, stay away from trading.
  • ShaunRShaunR Posts: 61
    edited December 2016
    sibby131 said:

    I have lost 20k whilst trading bit by bit, is there anyone who can put me back on the trading ladder? I was following some idiots signals, which to begin with, were good. But now I'm screwed. Would be amazing if someone could help!

    Hey sibby131

    Okane is correct when he wrote that you won't make money sitting on your hands, but you also need an 'edge' that consistently makes a profit over time. Clearly, you have tried stuff and it is not working. arif9m9 gave you the advice to quit and never look back.

    My question is this -> do you have a BIG reason WHY you MUST be successful at trading binary options? If you do, don't give up. But also STOP throwing your money away! The ONLY way to get this right is to create your own 'edge' and the best way to do that is to trade demo and try different things until you find something that works consistently over time.

    You also need to get serious about patience to wait for the right setups and sit on your hands until the indicators give you the green light to hit the trade entry button!

    Following someone else's signals is not great because you have no idea why they work and if they do, what happens when they are no longer there or stop working?

    If you REALLY want this you can have it but it takes sweat and tears.

    I worked to master trading binary options for 12 months - started this time last year and only now have I finally got it right! My preference is to trade off the 1-minute chart and use 1 min expiry options. I tried SO many things, made notes as I went and threw things away that didn't work. I assumed Thomas Edison's expectation, when he wanted to invent the electric light bulb - every time I found something that didn't work I made a note and told myself that I had simply found a way not to trade binary options and I moved on expecting that each thing that didn't work would bring me closer to something that would work.

    Here is a snapshot of my live trades from this morning. I am trading 0.5% capital per trade and will start increasing this slowly to 3%. This method gives me approx 70% ITM and given the profit payout % of my broker I am making money consistently.

    image

    If you really want this then go for it!

    All the best!
    Shaun
    live trades 28Dec16.PNG
    886 x 718 - 117K
  • bsbZenbsbZen Posts: 84
    Hi Sibby,

    I am sorry to hear this, but that is a part of every trader's journey to blow a few accounts and it has happened to everyone. I would suggest to learn it by your own and take the time for it, go on demo first and practise a lot before you consider to go live. Patience is the key, but also money management and emotion control are very important.

    Wishing you all the best.

    Kind Regards,

    BSB Zen.


  • paveljablonpaveljablon Posts: 132
    edited December 2016

    Hi sibby,

    so sorry for that great loss but i wanna tell you something my friend,
    MONEY IS NOT A THING BUT AN IDEA:
    There's a thin line between the rich and the poor and that thin line is the idea of money.Recently Mark Zuckerberg lost $3.7 billion in a space of 2hours, and that sounds huge to most of us but he's breathing fine. The truth is that investors never really loose money because they don't see money as a thing but merely an idea. You can stop losing money today when you make money an idea and not a thing, Invest wisely in binary options trading and you too can make money an idea. Earn up to $2,800 weekly when you invest in binary options with a licensed trader. if you are interested to succeed feel free to inbox me here in this platform or sent me a mail and i will introduce you to a trusted personnel that is trading for me with significant proof.

    Don't give your money to anyone in Binary Options. You will get burned.

    - Removed the quoted email /Okane
    Transparent Binary Options trader and former floor trader. Now giving signals to help people safely to make money at Signal Hive Please do not contact me to manage your account, I will never take anyone's money. You can see my live performance on Signal Hive and subscribe to me there.
  • luvbinaryluvbinary Posts: 5
    oh god.. all of the stories in here make me want to quit everything and run away..? is it possible not to get scammed at all?
  • bsbZenbsbZen Posts: 84
    Hi,

    Its always usefull to do a good re-search about everything. So the broker itself, the recommendations etc. And i advise to learn it by your own and not listening to an account manager at all as they are try to lure you with bonusses or trading with big amounts to earn fast money. When you know how the markets is behaving by yourself and practise first a lot on demo you will get there.
  • jamesnjamesn Posts: 27
    An excellent way to bypass some of the commonly occurring mistakes is building a relationship with other successful binary options traders, who are willing and able to share their secrets that include the risk and money management rules needed to trade this binary options market
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    Hello,

    That is a very good point. Trading alone in general is risky, especially when you are stuck amidst difficult markets and/or are facing losses.

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

  • sibby131sibby131 Posts: 5
    Guys you are right, but it is a struggle to find anyone who is willing to help without taking money... they take the money and it ends up being a useless strategy that they give.
  • sibby131sibby131 Posts: 5
    jamesn said:

    An excellent way to bypass some of the commonly occurring mistakes is building a relationship with other successful binary options traders, who are willing and able to share their secrets that include the risk and money management rules needed to trade this binary options market


    I have reached out to a lot of traders and most dont want other people to be successful from the ones ive spoken to.

    Even on this forum, I have received messages from people saying they will help me but in exchange of money lol
  • OkaneOkane Posts: 1,120 admin
    edited January 2017
    sibby131 said:

    Guys you are right, but it is a struggle to find anyone who is willing to help without taking money... they take the money and it ends up being a useless strategy that they give.

    That's the true for the most part but I have personally helped hundreds of people for free.
    I have done live and free YouTube webinars, recorded many videos for free about how I take my trades, I have done
    private screen sharing on Skype or in groups for free, I have shared diaries in forums for free.
    The problem is not that there is no free material. The problem is that people want a get rich quick tool or strategy.
    Obviously, no one can sell you a working strategy and anyone claiming they can is a fraud.
    I currently have many students, some have spent months trying to learn what I taught them so you see, there is no
    get rich quick manual. What I have learned took me years and obviously there are soooo many who would want to master that too
    but how do you propose me sitting here giving out private time to hundreds of people per day... for free?
    But as I said, I still did, through YouTube and forums I reached out to many people and some of my colleagues and fellow traders
    like The_Geek and others.

    By the way, in any business, you must invest money to learn the right skills. You either spend them through trial and error by losing money
    or you spend them on proper education. Just make sure you don't invest your money with scammers who promise wealth in a short time and make sure they actually know how to trade.
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    edited January 2017
    Hello Sibby,

    We are one of the prominent financial education providers in binary options and have been around for a while. You can read around the web about us. While our trading university does charge a fee per month of $99.99, you get access to a range of software and education. Most importantly, we don't "take" your money. You have a 7 day free trial and can test if we are right for you, without any risk.

    More information here http://www.blueskybinary.com/options-university.html

    Some of our educators linger on these forums such as BSB Zen and BSB Zio. You can ask them any questions as well.

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

  • crowdedbraincrowdedbrain Posts: 15
    I agree that every trader eventually loses his funds mostly or even completely, because it is a part of normal trading process. But why to give such an enormous amount to signals provider seems unclear to me. Do not want to judge, but I guess 99% of people in binary industry are not billioners at all. There are nice demo platforms, which do not require any fees, deposits and stuff. Train there first, read trading diaries of great traders and books about this industry, learn how to understand the market at least partly and only after that you will be ready to trade with bigger amounts. And even when, not everyone can do it, so be prepared to quit after all.

    We have to work to be good, no one can do it instead of us.
    did you forget to take your meds?
  • sibby131sibby131 Posts: 5
    edited February 2017
    Hello guys. Its been a few months since I posted this discussion on this forum. When I posted this, I was in desperate need. I was lost and needed help. The money that I had lost was too much and more losses made everything go out of hand.

    However, I am pleased to say that posting on this thread led to find light at the end of what seemed to me as a dark tunnel. I met a great man on this forum. In fact me and my friend call him the Great Man of 2017. The reason being is that he not only started to guide us with trading, but our lives have also changed. From someone who was depressed and stressed after losing so much money, he was able to not only put a smile on my face but he also led me to sort my life priorities out just through his words.

    I am not one of those that say that I wiped out my losses in 1 week or 1 month. But the truth is the progress that I have made since learning from him is amazing and evident in my trading. The man I am speaking about is Shaun Reed. Shaun has numerous posts on this forum already that help newbies with trading - especially the psychological aspect.

    If anyone else is struggling with their trading, he is indeed the best man to speak to. He could be reached through this forum.
  • ShaunRShaunR Posts: 61
    edited February 2017
    sibby131 said:

    .....If anyone else is struggling with their trading, he is indeed the best man to speak to. He could be reached through this forum itself or through email

    Hi sibby131

    Thanks very much for your kind words. It has been my privilege to coach you and I am very impressed with how you have taken on board and applied my advice.

    Fellow traders, this is NOT a scam. sibby131 has just completed his 3rd week of live trading and has made significant profits every week thus far. In fact, this last week he made more than the majority of my factory staff get paid in a month - just to give you an idea.

    sibby131 is one of a small group of traders who are learning under my guidance.

    I am looking to grow my team by an extra five members now. There is no cost to the trader for this.

    I do one on one training via Skype and I do not want to take on too many new traders, as that will not allow quality training.

    My preference is to work with traders who have lost a lot of capital and are struggling. I also prefer to work with traders who use the IQ Option platform.

    I share my trading template, which took over 12 months of serious work to figure out, but sibby131 is correct when he mentioned the psychology involved. That is a key area I can be of assistance. Good trading balance produces good life balance. Good life balance produces good trading balance.

    If you have lost big capital, and don't want to give up trying to get your Binary Options trading to work, contact me.
    Thanks

    Shaun

    Email removed. If you are running a service as an IQ Option affiliate you should make it transparent to everyone and mention how much you charge. No sneaky "email me" and secrecy please.
    //Moderator

  • pantherpanther Posts: 29
    hmmm...so he just works for IQ option?
  • ShaunRShaunR Posts: 61
    Email removed. If you are running a service as an IQ Option affiliate you should make it transparent to everyone and mention how much you charge. No sneaky "email me" and secrecy please.
    //Moderator

    My apologies for coming across as sneaky. That is not my intention at all.

    Shaun
  • BossBoss Posts: 43
    Yes, of course the terminal isn't a small one. But as experience shows and practice that in most cases it's impossible to return the money. You should initially choose a better broker and not risk large sums) Diversify your portfolio.
  • MalvridMalvrid Posts: 72
    To follow unverified signals was a bad decision, it's always that way, at first everything works, but after a while it leads to a deposit drain. Try it again, but this time analyse the market yourself, prepare well before starting.
  • Hello!

    Please, kindly note that it is not secure to share any of your personal information with the third parties as well as the details of your account. Moreover, according to IQ Option terms and conditions, only the owner of the account can operate it. Please, be wise and don't let others take advantage of you.

    Also, please, check this article: https://blog.iqoption.com/how-to-not-get-scammed/

    If you have any questions about IQ Option, you can always contact our Support Team (https://iqoption.com/en/contacts). It is available 24/7!

    IQ Option Support Team
  • OleboboOlebobo Posts: 103
    luvbinary said:

    oh god.. all of the stories in here make me want to quit everything and run away..? is it possible not to get scammed at all?

    ....i think that everyone in here have been scammed once, but you know what ? IT MAKES US STRONGER....these brokers shall NEVER cheat us again, period....and then we learn to trade ourselves !!!!!
    Unfortunately all newcommers still belive in a nice broker that will "help" them...THEY DON`T KNOW, or...they don`t belive in what we say to them ?
  • OleboboOlebobo Posts: 103

    Hello!

    Please, kindly note that it is not secure to share any of your personal information with the third parties as well as the details of your account. Moreover, according to IQ Option terms and conditions, only the owner of the account can operate it. Please, be wise and don't let others take advantage of you.

    Also, please, check this article: https://blog.iqoption.com/how-to-not-get-scammed/

    If you have any questions about IQ Option, you can always contact our Support Team (https://iqoption.com/en/contacts). It is available 24/7!

    IQ Option Support Team

    Okay...if i called/mailed the support team and asked them..... Do you have the "BUTTON", and do you use it, or WHEN do you use it ?
    What do you think ST will tell me ???
    Nooo of course we do not have the button, or, what button are you referring to ???
    Best regards
  • BossBoss Posts: 43
    Also, this is a good lesson for the future, it's best to think with your head. And the sum is not so small, how did you manage to drain it?
  • TrezoTrezo Posts: 35
    If you are losing money continously while trading then you need to quit the live trading for a while and start demo trading again in order to gain some confidence. You also have to modify your strategy by practicing on your personal demo account. One more thing never increase the lot size for covering up losses.
  • WintersWinters Posts: 1
    I would like to drop off few words about my negative and teaching experience about binary trading with RBOptions. Like many others, I was contacted by the broker in 2015, and, despite the fact I didn't have any knowledge about financial markets (I'm an ophthalmologist), got convinced by Peter Oaks, that I'll have all his assistance in order to make successful trades. Alright, sounds good, why not to try?
    After putting a large amount on my account, I’ve watched how my balance would go higher and higher. And, of course, seeing this “proof” of how I’m good at it, my manager Peter made me invest more over 50000 Euro. After a couple weeks of such magnificent trading, my account ended up over 340000Euro. An excellent opportunity to file a withdraw, no? No!! They released only 1500 in order to trick me invest more 100000. I didn’t have much money at the moment and I was put on hold...Weeks after nobody would even answer my calls or my emails. It became very clear, that I’ve become a victim of a huge and shameless scam. Time passed by and I was growing disappointed and very angry with my own naiveness. Only at August 2017, I came across ScamConsultingSCC, company, who works against binary criminals. They gave me an amount to pay upfront and deadline for receiving my money from RBoptions. It was a little hard to believe someone over the internet and phone again, but I lost too much money and loosing just little bit more, in case if its another scam, was not that painful. So, I’ve paid, I’ve provided them with all documents related to my trading and waited. In total 4.5 months and relatively low cost, I got my money back, got trust in people back and I got my lesson!
  • OkaneOkane Posts: 1,120 admin
    Winters said:

    I would like to drop off few words about my negative and teaching experience about binary trading with RBOptions. Like many others, I was contacted by the broker in 2015, and, despite the fact I didn't have any knowledge about financial markets (I'm an ophthalmologist), got convinced by Peter Oaks, that I'll have all his assistance in order to make successful trades. Alright, sounds good, why not to try?
    After putting a large amount on my account, I’ve watched how my balance would go higher and higher. And, of course, seeing this “proof” of how I’m good at it, my manager Peter made me invest more over 50000 Euro. After a couple weeks of such magnificent trading, my account ended up over 340000Euro. An excellent opportunity to file a withdraw, no? No!! They released only 1500 in order to trick me invest more 100000. I didn’t have much money at the moment and I was put on hold...Weeks after nobody would even answer my calls or my emails. It became very clear, that I’ve become a victim of a huge and shameless scam. Time passed by and I was growing disappointed and very angry with my own naiveness. Only at August 2017, I came across ScamConsultingSCC, company, who works against binary criminals. They gave me an amount to pay upfront and deadline for receiving my money from RBoptions. It was a little hard to believe someone over the internet and phone again, but I lost too much money and loosing just little bit more, in case if its another scam, was not that painful. So, I’ve paid, I’ve provided them with all documents related to my trading and waited. In total 4.5 months and relatively low cost, I got my money back, got trust in people back and I got my lesson!

    Really, you know, every day we get at least 10 stories like yours from people who want to send people to some place that's gonna help them withdraw a tonna money from their scam brokers. Almost all of them are scams. I am not saying you are yet another spammer.
    I am saying show me something. Show me documents that shows what you are saying is true.
Sign In or Register to comment.

Who's Online3