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Author	Topic: Be raw and truthful.

StuGood

BOD Newbie
Posts: 3
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Be raw and truthful.
on: February 22, 2012, 04:45

Hey guys, my name is Stuart Goodenough. 19 from Michigan. You might not take me serious due to me being 19, but I am trying to become a real profiter in this. I want to know the raw advantages and disadvantages to trading options.
I can read articles all day, but they all say the same thing, almost seems surreal to how easy they make it out to be.
How can you maximize your chances to make money, and what separates this from playing roulette?
What kind of patterns and opions to look out for when in the beginning stages of trading options.
Obviously I wanna become as informed on this subject as possible and I am looking for some advice. Anything appreciated.
thank you, Stuart Goodenough.

Luca Lo-
Casto

BOD New Kid On The Block
Posts: 46
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Re: Be raw and truthful.
on: February 22, 2012, 05:44

Hello Stuart,
welcome to BOD.
Don't be scared by your age. Expert traders here helps everybody, with no distinction. When i joined BOD i was 17, and i was threated like an adult, so you'll have no problem.

CherryCoke created a good thread. Lot of members placed their best information source there, so start from here: http://www.binaryoptionsdaily.com/forums/general-group2/question-answer-forum4/newbies-please-read-here-work-in-progress-thread194/

One suggestion ( and i'm a newbie): stick with one strat. If you like one strategy, don't change it because you have a bad day. Work on it and adapt it to your personality. It will not be easy (trust me, i thought it was a walk in the park when i started, but it's not like that). However don't give up, people here will help you to overcome obstacles.

Hope to talk to you in the chatroom soon,
Luca

eaziz

BOD Newbie
Posts: 3
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Re: Be raw and truthful.
on: February 22, 2012, 06:39

Hey stu good im 19 as well. Like Luca said "it's no walk in the park" but once you figure out a good strategy binary options can be worthwile, good luck with your trading and watch some of brians videos

Brian

Moderator
Posts: 182
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Re: Be raw and truthful.
on: February 22, 2012, 10:50

Welcome to BOD, I don't think age is relevant here. Maturity is more important. You might want to check out the welcome thread: http://www.binaryoptionsdaily.com/forums/general-group2/introductions-forum8/welcome-to-binary-options-daily-thread495.0/

Most of the helpful contributions (by current and past mods) are aggregated there. As eaziz mentioned, my video series are helpful as well.

My Trading Journal: http://www.FinancialTradingJournal.com
My Educational Videos: http://www.FinancialTradingSchool.com
Free Binary Options Tutoring Promo: http://www.FinancialTradingSchool.com/Tutoring

StuGood

BOD Newbie
Posts: 3
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Re: Be raw and truthful.
on: February 22, 2012, 11:15

So, whether the company goes up by 1 cent or 1 million, you still get the same payout. Correct? How can a company afford to pay all these people hundreds of dollars when they win, if it only goes up but 10 dollars?

Luca Lo-
Casto

BOD New Kid On The Block
Posts: 46
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Re: Be raw and truthful.
on: February 22, 2012, 13:50

We trade through brokers, companies that give us access to the markets, so we're not trading directly with firms. Do not go too deep about this, however.
Once watching Brian video series, start this course http://www.babypips.com/school/ , it will help you to have the fundamental of trading and forex.

StuGood

BOD Newbie
Posts: 3
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Re: Be raw and truthful.
on: February 22, 2012, 14:53

Do you have to pay the broker?

Luca Lo-
Casto

BOD New Kid On The Block
Posts: 46
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Re: Be raw and truthful.
on: February 22, 2012, 16:39

No, we don't pay them.. Anyway you should consider the spread commission:

from about.com:

"Question: What is a forex spread?
Answer: The spread is the amount of pips between the bidding price and the asking price is called the spread. The spread is what forex brokers use to make money on every forex trade placed through their network. For example, the forex broker may be paying a price of 1.3600 for buying or selling. The broker will then allow you to buy the currency for 1.3601 or sell it for 1.3599. The spread always stays around the actual price that the forex broker is paying. So when you buy, you get one end of the spread and when you sell you get the other end of it, and vice versa. By the time you close your trade, you will have always paid the spread."

cherrycoke

Moderator
Posts: 758
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Re: Be raw and truthful.
on: February 22, 2012, 22:06

welcome StuGood .
i would highly recommend u go through the thread link that Luca had shown u. There are alot of useful links for the trader-noob. If u are really interested in trading, then the basic knowledge is essential. Going through those links helps to form a solid and well-informed knowledge. Good luck.

“Psychology is so important that even the best
information can be distorted by a poor mindset.”

Joe

Moderator
Posts: 145
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Re: Be raw and truthful.
on: February 23, 2012, 09:36

Hey!
Dont worry about your age, lots of young people in here. You are correct, basically articles are a waste of your time. What you need to do is figure out how you want to trade and focus on that. Ignore what everyone else says, most websites are just trying to sell you something. DONT BUY ANYTHING! Trading all comes from experience, you can't buy that (unless you get a mentor, like cherry) -- but shes being a bit stubborn...

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