So the other day someone I know loosely via Facebook has gotten me into trading binary options. I've started out on stockpair.
An initial investment of 250 pounds is required, so that's in. The guy I know via Facebook also has a director he gets signals from via whatsapp, a service that is offered free for 14 days and afterwards requires a 75 pound a month fee. The guy will send messages such as
PUT / Down
1.30120 - 1.30110
He says that these are valid for up to 5 minutes after he sends the message, but sooner is better. Now I had luck with a few but then I lost a few, I tried to trade on my own and I lost even more. To be fair the day I lost the 2 trades he sent, he did message in the morning saying that fundamentals (the news that allow them to make signals) had been massively effected by current economical goings on (not his exact words but I can copy paste the message if need be). And later that day 4 signals came through from him (which I did not trade on) I checked these back later and they all would've come through as wins.
Now what I'm asking is has anyone else had any experience with this? Is it dodgy? The guy who referred me from Facebook seems okay, I've been friends with him for a few years there but do not know him personally so I cannot vouch 100 percent.
Also can anyone give me tips on where to start out by myself if need be? Reading charts/trends etc?