Ok ok so more than likely im the atypical new guy here looking to make money. I get the impression that a lot of people come and go here and its not really resentment at their extreme overoptimism but more like you guys are all tired of glass eyed newbies coming in and just throwing away money.
Maybe I'll be the same... Maybe not.
I'm here to make money I wont pretend that its anything different. Fact is though my moneymaking aspirations have a purpose.
I'm a soldier and I don't make a lot of money. In fact I really don't make a lot of money. I think I said that already... Anyways that's not the point. The point is I recently got married to the woman of my dreams. Unfortunately shes not american and immigration laws here are complicated. They require money to get through. So why did i get married to this woman if I cant afford to be with her? Well if I have learned anything through my life and my time in the military its that life is too dam short to live alone and when you find love you shouldn't just ignore it. Anyways that's enough of my little sob story. There's a lot to it and this really isn't the time or place for it. Just want you all to know I'm not just some greedy kid looking to make a fast lazy buck. Fast yes lazy.... NOPE.
Ok back to the money making. I first found out about Binary options from a friend of mine.(no I don't like to abbreviate we do it all the time at work and I hate it.) Any ways i found out about binary options from a friend who was thinking about buying a $300 guide on price action and how it worked with binary options. My reactions was no way this is too simple to waste that kind of money on a guide. Besides this guy obviously has no clue what hes doing. So I opened an account at anyoption.com Good idea at first. I started with $100 and by the end of the evening it was at almost $400. I thought great!! I love this stuff. I emailed my friend back and told her ill give her money to start. We struck a deal and that was that. LOL stupid me. It was less than 24 hrs and i lost it all on an emotional bid. I hate the word bet because it makes me feel like I'm in a casino and not an investment platform.so i was out of $100. well in my mind $400. I was pissed but not done yet. I went and put another $100 into Tradersleader.com I got it up to about $500 this time then I came home on lunch one day and opened it up and was looking at the options. I saw face book hit a big spike over lunch and was starting to decline. I was like wow its way outside of its range and its gonna crash... I thought here's my chance to cash in big and really break out of the risk zone. I Put it all in on a put. LOL I was right it crashed I was In the money for almost the whole period but in the last 5 mins it reversed and came back up and boom all my money gone well I got a little back. I was pissed off and just threw the last little bit down on some crappy thing because At that point I wasn't thinking right. There went all my money. And I had all day left at work to think about how stupid I was. I realized I didn't have any money left to invest with. I did some deep thinking and realized that it is possible to make money doing this it was my own stupid error and lack of education that allowed me to loose it all. More like my stupid notion that I cant be wrong. Later I learned about Money management and risk management thanks to Bank de binary. I realized how stupid I was and i decided this time I'm not gonna make the same mistakes. I did some real thinking I don't have any money to play with how can I practice without risking money? Well I can use charting software to simulate bids by marking them with the tools. So I spent the next week till payday "Shadow bidding" My clever name for bidding without loosing money. I had a lot of luck watching price action and learned a lot about reading a candle stick chart. I did some research on the different ways of looking at things and combined a few of them and came up with a few rules for investing. Though im still an emotional investor. I do my best to avoid it. I pretty much keep my charting software in front of me all the time and think of it in the most binary way I can. I don't think in $$ risked or won. It is simply win or loose. I was looking for who I should use as a broker and was between Bank De binary and Trade rush. Then I found a review of Citytrader.com and they offered a 100% matching on your first deposit. I was thinking of Bank De binary and had already required $500 to join. Anyways I was just waiting for pay day. Citytrader called me and asked how much i planned to invest to open an account. I told them and they said ok well that makes you a priority. In fact we are offering a special promotion till the end of the month to any new accounts. We are offering 150% matching. I said WOW ok I'm in. I opened my account Friday june 29th. with $500 + their 150% matching to come up with $1250. Anyways today my account is at $1585.25. Not bad. Not great but good enough for me. I use mainly price action to make my bids. I have a few trend lines set up and also use momentum to show trends and when they are starting to wean off. One thing I don't completely get are bolinger bands They confuse me. I still have them showing in my charts because I know when price goes outside of the bands that when it starts to decline back into the bands that a reversal is getting closer. It is like my marker to really start paying close attention to what is going on. I have an aggressive investment management system in place 1-% on any one trade and no more than 3 trades at once. Normally though I only have one going at a time. because its hard to closely watch 3 charts at once. I also placed a2 one touch options on oil this weekend. I know one touch is a bit of a loosing bet but oil did real good on Friday and it was possible that it might touch the boundary. So I risked $100 on the chance of a 480% pay back... I hope it goes through. My goal is to make it to $2k by the end of monday. Its a 4 day weekend and ill have all day Monday to trade in the Us market. I mainly use eur/usd because right now it seems it often expresses strong swings and trends and often moves in predictable patterns and time frames. I'm willing to admit that right now I don't know what I don't know but so far price action is serving me well while I learn new methods and incorporate them into what I'm already doing.
I learned from my mistakes and no bid will ever be over my 10% rule. NOT EVER AGAIN will i risk it all on one bid. I am dedicated to what I am doing for my family Im dedicated to be with my wife and if it takes me months to reach my goal its ok. because I realize that my emotions will kill me in the end if i let them get out of hand.
I'm so happy to have a forum to vent in and or share my success with other. There is a lot of information here to learn from and I hope some day to be teaching others what I have experienced and learned here and out in the market.
Thanks Binary options daily for being a resource that I can count on. Thans to those here who share their methods with others and thanks to my wife for supporting me even when she thought it was a stupid idea in the beginning.