A Novice Binary Options Trader's Adventure

Tag Archives: brokers

A Fresh Start – Back Trading


Well, my finances have recovered slightly and I’m back in the game. As of tomorrow, I’m investing $500 in Banc De Binary – That $500 will be doubled to $1000 with the signup bonus so I shall have a nice balance to play with. I’ve been researching the best brokers and Banc De Binary are consistently reviewed as being the best. I’ve had a good chat with one of the advisors there and he’s filled me full of confidence.

To help me with signals and to help learn how to trade properly, I’ve also signed up with Binary Options Free or Intellitraders – They’re going to give me pro signals to advise me on my trades and I look forward to the 75% return rate they promise. I shall keep you informed of how the trading goes. I have decided to tweet all my results so you’ll be able to see for yourselves, how, on a daily basis, my profit / loss goes.

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.

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