BinaryOptions.net Forums Beginners Questions

Help!!

Hi all

I am absolutely new to trading but I am very interested in finding out more. There's seems to be a lot of scams/fakes around so if anyone has some good places I can do research and check out authorised responsible websites that would be great.

.....go easy on me.... Total n00b!!!

Comments

  • The_Geek_MHThe_Geek_MH Posts: 718 mod
    yeah, this is one of the few websites out there trying to give unbiased information about binary....
  • OkaneOkane Posts: 1,281 admin
    Welcome!
    The best places are websites with forums and real traders as forum members.
    One such place is right here - you came to the right place!
    For example, check out the links posted above to start learning more!
    You can also check out the strategies room and take a look in my trading diary
    in the "Trading Journals" room :). That way you can confirm people here are actually trading
    based on knowledge and this isn't another "get rich quick" site.
  • MikegezMikegez Posts: 3
    Hi Guys!

    Im a new member from your website I am new to binary trading. I just started about a month ago and 3 months prior I was with forex blvd and lost almost a thousand. Now I am learning Binary and lost close to a thousand again. Can you guys help me recover my losses? do you guys offer mentorship or live group trading so i can join and increase my chances of profit rather than loss. Any advise for me will be of great help.

    Thanks!
  • OkaneOkane Posts: 1,281 admin
    edited August 2016
    Mikegez said:

    Hi Guys!

    Im a new member from your website I am new to binary trading. I just started about a month ago and 3 months prior I was with forex blvd and lost almost a thousand. Now I am learning Binary and lost close to a thousand again. Can you guys help me recover my losses? do you guys offer mentorship or live group trading so i can join and increase my chances of profit rather than loss. Any advise for me will be of great help.

    Thanks!

    Hey. There are no shortcuts, before you invest real money you should learn how to trade.
    It can take months so forget about your losses and focus on learning.
    Yes I do have a free Skype group but we don't do signals, I just teach price action trading.
    Start reading some articles and check out my trading diary here in the Trading Journal room.

    By the way, what has your approach been so far? How did you trade or did you just gamble? Which broker
    were you with?
    Tell us more so we can help!
  • MikegezMikegez Posts: 3
    Hi Okane,

    Its a great feeling of relief knowing there are people like who are willing to listen and probably help me. Wee at first I was with Forex Blvd. I don't know anything about trading then - but I did it anyway because there was an agent calling me assisting me where to trade. First try we traded in oil and won. The next day he did not call me and the next day same. So I decided to trade on my own. Then I started losing money - I lost 70 - 80 dollars per transaction. It lasted for almost 1 week then all that's left was around 28dollars then I decided to withdraw it.

    It opened my understanding a little bit on how to trade. I was viewing some youtube vids that binary is a little bit less complicated and started learning it. I then signed in an account with 24option. Its the same deal I have an account manager calling me almost everyday. They will inform me which asset to trade and the time duration about 75% of which we won a position. However, in my experience I guess its me - I would like to trade more often so I can earn a little bit more because I can only earn after 1 weeks per transaction as the time duration they will give me are mostly a week of waiting sometimes end of the month. I would trade in 60sec duration, not to mention its 24dollars per trade! and I would use the martingale strategy! and its a tragedy for me!!! all of a sudden im left with 100 dollars in my account. Im still with them but I am on sabbatical.

    Sorry guys, I did not mean to write this novel, but there you go... that's the story. I do like trading and I really wanted to learn and teach others to trade but I don't have the correct knowledge to approach it. I am hoping you guys can help me and we can profit all together.






  • OkaneOkane Posts: 1,281 admin
    First of all NEVER EVER let any one else trade for you, especially an account manager.
    No one has ever made any money letting account managers trade for them, in fact they are in a conflict
    of interest with you so just say "no thanks" to their tips and tell them you want to handle your own account
    and you are not interested in anything else.

    Second, avoid 60 second trading. I know only a few people who can pull that off and they are very experienced
    price action traders and even they mixed it up with higher expiries.

    Third, Never use Martingale, that system is designed for you to lose more! That's the whole point of it
    and brokers love people who Martingale so they can lose faster.

    Here is an example of what price action trading is, just a part of it:
    http://www.binaryoptions.net/blog/okanes-trend-targeting-price-action-technique/

    This is one of my trading techniques! Check it out and remember, unless you learn
    to read price action you are not going to make money. Every strategy has downsides
    but if you master price action then you have a higher chance of staying in the profit.
    Look at this thread I created about it too:
    http://forum.binaryoptions.net/discussion/1416/learn-price-action-how-to-start/p1
  • MikegezMikegez Posts: 3
    I will check this links you sent me. I am planning to add signals while trading. Are they reliable? or from your experience is should be better of with the basics like the PA?
  • OkaneOkane Posts: 1,281 admin
    Mikegez said:

    I will check this links you sent me. I am planning to add signals while trading. Are they reliable? or from your experience is should be better of with the basics like the PA?

    Signals? From what source? I have yet to see someone actually making money taking signals
    from a signal provider and I have been in this business for over three years.
    As I said, learn to trade your own account based on your own learning and logic.
    All signal services manipulate their results one way or the other.
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