A Novice Binary Options Trader's Adventure

A Disastrous Second Day Of Trading

I woke up feeling refreshed and keen to learn more about Binary Options. I set up accounts with three other brokers. I was trying to get the new robot I’d purchased working but couldn’t link it up to my accounts. The glowing lines on the trading graphs enticed me in and I couldn’t wait to start making money. I got involved. Automatically I was chasing losses. I started betting on silly things like one minute expiries and losing cash quickly. At the touch of the button you can fry your money so easily. I discovered what doubling up did and when s trade started initially going in the wrong direction, I thought it’s OK, it will turn, I’ll just take a better price now and double up. I was going in at $100 a trade. With the new brokers I’d got between 50% and 100% signup bonuses so there was plenty of funds to play with. I looked into these bonuses and apparently you can’t withdraw until you’ve completed 20 times the bonus amount in trade volume, so it is a bit of a con… JUST WATCH OUT!

I realised I knew very little and needed help. I’d been hearing a lot about signals and after a bit of surfing, found what seemed a reputable firm, promising 75% success rates. For $14, I got a 14 day trial period of texts to my phone and emails, advising me what options to take. I thought I had it sealed and started backing the signals, but only about 33% of them were proving successful.

After a long and frustrating day where I was chasing losses from the start, I finally exhausted literally all my money. In two days of trading I had lost £800 (about $1200), more if you include the bonuses that had disappeared also. I felt depressed and saddened, but I was still keen on this new line of work. I know that money can be made on these markets. I just had to do my research. It was back to the drawing board. I wouldn’t be able to trade for real money for a week or two when my bank funds allowed it. I thought I’d use my time wisely and plan and research. One of the earliest ideas that came to me was to create this website. I had hoards of emails flying in and was surfing the web in every direction. I wanted a blog-based site where I could record information for my own use as much as anything else. Krakatoa Trade was born and I had to recoup my early losses. It was time to hit the books.

About the author

I am a newbie binary options trader. I hope to profit from my new venture and this site will be a record of my activities as I accelerate along a steep learning curve,

Leave a Reply

%d bloggers like this: