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Hi New/Noob Member here! I need help guys, I need basic tips and advice PLEASE! PLEASE HELP! :(

FaintSmileFaintSmile Posts: 2 ✭
in Beginners Questions
Hi guys, first of all I don't know nothing about trading... right now I am reading " Technical analysis for Dummies", day trading for dummies and currency trading for dummies ( if you could recommend some good books or articles, etc. I would greatly appreciate it.. salamat :)... also if you could share some tips to guide me on my journey I would greatly appreciate it!

I only have two questions for you guys...
I am planning on investing $500 on iqoption..

1) is there any issues that I need to be aware of with iqoptions, I know they are one of the most recommended brockers out there... I just wanna make sure especially when it comes to withdrawing and depositing money..

2) from $500 dollars how long would it take me to get it to $50,000 -- I am planning on paper trading for atleast 15-25 days first, and assembling my trading rules and strategies before that ( paper trading ) also I am planning to do this FULL TIME! ( I saved up for this already and I have my fall back plan ready )

hoping for your answers THANK YOU and God Bless..



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Comments

  • OkaneOkane Posts: 1,282 admin
    I don't like IQOption. You will find more info on them in the forum from current/previous users.

    " from $500 dollars how long would it take me to get it to $50,000 " You have seen too many scammers on YouTube and been brainwashed
    that this is an easy quick money business. It's not. You will lose that first 500. Because that's the fee you are going to pay for trial and error and for learning.
    You have no charting hours and no experience, this alone is gonna take a while to achieve on your own.

    We have some guides on the main page you should check but you should educate yourself on understanding price action:
    Here is some part of it (not everything is in this article - far from it)
    https://www.binaryoptions.net/okanes-trend-targeting-price-action-technique/

    Relax. Take a step back. Forget about quitting your job and 500 to 50K. Learn how to trade instead. It took me over 2 years to master price action and go plus on trading and another year before I could even start cutting down on my day job.
    Also, you should always have a second income. I would not quit my job if I were you.
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  • FaintSmileFaintSmile Posts: 2 ✭
    Thank you Okane Senpai.. I will take your advice to heart.. actually I am a newly grad student.. I made a deal with my parents to take a yr off before applying for a job in healthcare.. I will take whatever experience I can within this comming yr while applying for my examination.. win or lose It doesnt matter.. I'll give it all I can.. Thankyou again for commenting to my post.. maraming salamat :)
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  • OkaneOkane Posts: 1,282 admin
    FaintSmile said:

    Thank you Okane Senpai.. I will take your advice to heart.. actually I am a newly grad student.. I made a deal with my parents to take a yr off before applying for a job in healthcare.. I will take whatever experience I can within this comming yr while applying for my examination.. win or lose It doesnt matter.. I'll give it all I can.. Thankyou again for commenting to my post.. maraming salamat :)

    Welcome!
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  • tjustintjustin Posts: 2 ✭
    I would recommend trading in the zone as a book to read. And you don't have to lose all your money, once you have proper guidance you will be fine
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  • The_Geek_MHThe_Geek_MH Posts: 860 mod
    From 500 to 50k huh, that's pretty big aspirations, I don't think a week or two of paper trading is going to be enough.
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  • greggy_B7greggy_B7 Posts: 4 ✭
    The_Geek_MH said:

    From 500 to 50k huh, that's pretty big aspirations, I don't think a week or two of paper trading is going to be enough.

    I agree with the geek on this, if it were to be so everyone will become billionaires after 2/3 months of trading
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  • Blue Sky BinaryBlue Sky Binary Posts: 157 ✭✭
    FaintSmile said:

    Hi guys, first of all I don't know nothing about trading... right now I am reading " Technical analysis for Dummies", day trading for dummies and currency trading for dummies ( if you could recommend some good books or articles, etc. I would greatly appreciate it.. salamat :)... also if you could share some tips to guide me on my journey I would greatly appreciate it!

    I only have two questions for you guys...
    I am planning on investing $500 on iqoption..

    1) is there any issues that I need to be aware of with iqoptions, I know they are one of the most recommended brockers out there... I just wanna make sure especially when it comes to withdrawing and depositing money..

    2) from $500 dollars how long would it take me to get it to $50,000 -- I am planning on paper trading for atleast 15-25 days first, and assembling my trading rules and strategies before that ( paper trading ) also I am planning to do this FULL TIME! ( I saved up for this already and I have my fall back plan ready )

    hoping for your answers THANK YOU and God Bless..



    Hello,

    You are probably going to blow that $500.00 - just FYI.

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

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