Hi there guys, would just like to share my story on my journey on how I became profitable.
this is a throwaway account, just made it to share my story with you guys.
side note: i average a 90%-95% success rate in my binary signals.
It all started around 12 months ago, I was always the technical type and ive always been obsessed with step by step technique to things. so anyways 12 months ago i was a gambler, although as i just stated i always needed structure to my life, i would never be the type to walk into a casino and randomly throw money at games in the hopes to win, i would always be systematic towards my approach, trying and failing to beat the casino odds. I would sit for hours and construct strategies in my head which i would later mathematically test for probability etc. I finally gave up and realized that casino odds could never by beaten in the long run. so at that point i asked myself a question. whats the next best thing to gambling with a higher probability in which i can use a systematic approach. stock markets came to mind instantly. I knew it wouldn't be a walk in the park to learn such a skill, but i started researching. as soon as my research began i stumbled upon technical analysis, i knew straight away that it was for me. But little did i know predicting market moves to a high probability was in no way easy. Let my also add I am a perfectionist, from day 1 i instantly had in the back of my mind "i need to find something which will predict these moves to an extremely high probability". and so my research went forward, i went from the stock exchange to switching to forex (as its the most liquid market in the world - hence more candlesticks to abide by technical analysis.) After further research i soon came to grasp the reality of trading. It was possible, and profitable, but you needed the market to actually MOVE big time to make excellent money. I was frustrated, then i found binary options. It seemed amazing when i first saw it, and it still is
the great advantage with binary options is you dont need a huge market move to attain great amounts of profit. and i was lured in with the idea that 80% or so.. profit every 60 second option trade, so i began spending hundreds of hours looking for a high probability strategy to where i could predict market moves on a one minute basis. after some time i realized that this was impossible. due to the fact that a minute timeframe is too volatile, too little investors a minute candle can bounce in all directions, regardless of trend power or anything else. so i went from that to 5 min entries, attempting to use Fibonacci and momentum indicators to forecast counter trend retracement points in a trending market. this worked half decently, might i add.. but as i said before, im a perfectionist. i strived for a strategy which would be perfect. fast forward another 6 months to now. i have spent thousands of hours paper trading the market. i have spent sometimes 80 hours a week looking through charts till late at night, analysing indicators and how and what makes them tick. the amount of time and effort i put into this all is unbelievable. im here to tell you, theres only one was to sucessfully trade the market. that is to become fluent with it. you need to be able to look at any point in the chart and be able to analyse what its doing, where the major structures are, support resistance, trendlines, macro patterns, changes in polarity. then theres the indicators, like i said before i know alot more about my indicators than just when they are signalling and up or down signal. you need to know what makes them that way and the correlating market psychology behind each one of these signals. market psychology, its a tough one to grasp. when i look at a chart now i no longer see simple candle sticks arranged in a random order, i see the fear, greed of the investors, more relevantly i see the hesitation of buyers and sellers through my indicators and price analysis. Ill cease ranting on about it, but its amazing how far ive come. I would love to give you all a formula of step by step approach on how to conquer the markets to an extremely high probability, and ill tell you now its possible, but it simply wouldnt work as if i did so you all would not understand the psychology behind it, that is very important i believe. To become successful is a learning curve which is best done on your own. you create a strategy which works best for you and is made by you! you understand it, and you know all the ins and outs of it. but rest assure anything is accomplish able with enough determination. you need to strive for your goals. (I know i did!)
till next time m.