Confused Binary Option Newbee

ronlarshronlarsh Posts: 4
edited February 2014 in Beginners Questions
Hi y'all,

I've got my feet wet with Binary Options and I'm over my head already. I've read a few posts here and am confused as to which Broker is the most honest, competitive and has support. I also need Signal advise. Ideally, a magical robot would be able to select and place trades for me with a set dollar limit per trade. But, from what I am reading, there is no such thing as a AutoBot or AutoTrader that's worth a darn. Suggestions always welcome ...

Comments

  • ronlarshronlarsh Posts: 4
    advise = advice (I hate typos)
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    edited February 2014
    LoL ok first there are "NO MAGIC ROBOTS" maybe their are but you won't find them for sale that is for sure! To learn to be a good trader you must put in the time just like any profession as a poker player baseball player whatever it is you that must learn the "GAME" I will recommend you start out with Markets World using their FREE DEMO account first. From there I would check out www.tradingaxis.com as Bryan is a real trader and can give you training on how to start, hope that helps!
  • ronlarshronlarsh Posts: 4
    Yes it helps. Thanks very much.
  • ClaryMorgenClaryMorgen Posts: 4
    I'm also there with you, I want to try some demo accounts but I heard that its not the same as the real deal and I'm worried about depositing
    if you have any recommendation for a good site let me know.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    Markets World is a good place to start imo... Free Demo accounts and low starting deposits $20 & the min trade amount is $1... Great for newbies...
  • gatsby2016gatsby2016 Posts: 30
    (I am a newbie myself) I second the fact that you should use demo accounts until you successfully prove to yourself that you can gain money consistently over a long time, not just a few "lucky" trades. As far as a good broker goes, look at a few things 1. are they regulated by any government agency of which country? (cysec is becoming more common among brokers) 2. what country are they located? 3. Look for reviews on websites WITHOUT affiliate links/banners/advertisements 4. see how accessible their customer service is. 5. BEWARE OF BONUSES....READ FINE PRINT!!! Also, you'll need to see if they accept clients from your country, and check local laws (this is kind of a debated topic in some places).
  • gatsby2016gatsby2016 Posts: 30
    and overalll COMMEN sence, none of these factors are 100%
  • mifunemifune Posts: 160 ✭✭
    Markets World is definitely a good recommendation with the totally free demo and the $1 minimum trades. Even after demo success, starting out with $25 trades (a typical minimum investment size at many brokers) is just too large IMHO.
  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    Simple don't use robots to trade they are just indicators and the results you will get overall is the same as FLIPPING A COIN...
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