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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…

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My First Trade

I discovered a broker pretty rapidly though my initial surfing and signed up with GlobalTrader365 http://globaltrader365.com A pleasant broker from that company over in the USA telephoned me almost immediately and I was pleased to hear that my initial deposit would be granted a 100% signup bonus. I had some spare funds in my bank account and decided to invest an intial $300 which is about £200. This was matched so I had $600 in my account to play around with. I was keen to get going so, having worked out how to proceed, I placed my first $25 trade. $25 is the minimum amount you can invest on a single trade. I picked that the EUR/USD would rise over a ten minute expiry and unfortunately it didn’t, but watching the moving graph undulate for ten minutes was great fun and instantly I was hooked. Two trades later, one on the USD/JAP going down and another on the EUR/USD going up and still I was without a win… Then it happened. I placed a call on the USD/JAP rather than the previous put and ten minutes later, it came in and I won $43 (including the $25 investment). I was thrilled and got carried away, putting 4 simultaneous trades with my winnings. One failed but 3 came in. I had branched out to USD/CHF which lost but two USD/JAP and one EUR/USD came in – I was now in profit. I realised that this scam email had truth in it. Before the weekend I would be $20000 richer and the bubbly would be on me! It gets very addictive, placing your first trades. A proper gambler’s rush. I got carried away and just following the trends on the graphs on the broker’s site seemed the easiest way to continue. It was either bearish (up) or bullish (down) or somewhere inbetween, a level horizontal line trend. I tried to avoid the ones with no definite trend, and also the ones which showed reversals from the trend. I figured these were no-gos. The sheer multitude of options available, different currency pairs, meant that by scanning around there was plenty of scope to find a big bull or bear on offer. I was winning one, losing one and my balance was creeping down and then I hit a losing streak. Six in a row, all losing. I remembered the advice about doubling up…

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