BinaryOptions.net Forums Beginners Questions

New to all this, keen to learn and make some money.

I was recently approached by a group called DCT Trading to start Binary Option trading, which I am very new to. I had a call with them and started up two different broker accounts at Binary Tilt and No1 Options and was told to use their signals to trade with. I am still in a trial but messed up a little and lost some money in my trading accounts. The guys running this make a lot of money, so this is why I am keen on starting this as well! However, I am kind of lost about where to start but really keen to get going. I have come across the following article:

http://forum.binaryoptions.net/discussion/2647/education-for-beginners-how-to-analyze-the-charts#latest

Very useful stuff but I am still uncertain about a few things:

- Do I learn how to analyse or trade through signals? I'm currently using DCT and Signals Binary trading signals and I am sure they offer good signals but I am not doing something right perhaps.
- Are there materials online that would put me in the right direction to learn from?
- How much of your capital would you put down?
- How many trades would you start with in a day?
- Short term or long term trades, which are best?
- Realistically, how much can be made using Binary Option trading?

Any guidance or help would be very much appreciated!

Kind regards,

TLF

Comments

  • RaidenRaiden Posts: 186 ✭✭
    I don't believe their signals are any good. No published results of signals.......just have to take their word that they average 75 - 80% ITM rate. Also broker sign up required before you can have access to their signal service for "free". I am not an expert like the moderators on this website, but I have seen these signs over and over and over again. I will bet this is just another bunch of people who knows absolutely nothing about trading.....just a set of marketers who earned commission on your signup to brokers and maybe even getting paid on your volume trades. You lose, they win.

    Think about it.....how difficult can it be to follow a signal. It has to have clear instruction of what and when you have to take a trade, up or down, the preferred strike rate and to have it expire at a certain point in time. That's it. You cannot mess this up. So if you followed the "rules" of the signal to the T, then ask yourself - why are you losing money and not getting a 75 - 80% ITM. You notice I did not place a question mark at the end of the previous sentence......I'm making a statement.

    You do realize that with some practice and education you will be able to generate your own signals from you own market analysis and you maybe even good at it.

    To briefly answer your questions:

    1. No Good. There are better signal providers out there where you could learn from.
    2. Many useful articles on this website that you can use to educate yourself. Also view Bryan Mcafee's YOUTUBE channel....great source of information. You could also enroll at babypips.com - they have a education system that will greatly help you.
    3. Only Capital that you are willing to lose. Not that you would, but you could lose and then what.
    4. I would not do more than 10. You could approach it with the 5-2 rule.
    5. Both are ok as long as you can analyze a chart.
    6. The sky is the limit. But if not done with proper money management and good technical analysis you will lose it all.

    Hope this will help you.
  • Awesome stuff Raiden. I enrolled into BabyPips this morning, so giving that a go. Also, will need to check out Bryan's channel. I have made a fair few wins with the signal providers and SignalsBinary appears to have good signals as well so I just get a feel for it.

    I hope to one day be able to analyse and make profits like the professionals on here.
  • RaidenRaiden Posts: 186 ✭✭
    You posted so much - I'm gonna do it your style - Thank you "Copy & Paste". Spam post above. Experience taught me following a Joker like you above (my dear "friend" jamesscott) will result in the follower NOT MAKING MONEY.
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