Trading Day One (Loss / £2.50)

Dec 07

Trading Day One (Loss / £2.50)

“It’s not what it looks like,”

 I  assured my lady wife as she took a cursory glance at my PC monitor. Rows of charts and graphs, the heavy breathing of a live trading stock as it ‘pipped’ across the screen, all laid bare for her to witness. The response was unquestionably a hint of disapproval. But indeed it was exactly what it looked like and by then I was already £50 down on my first two ‘trades!’

Today is my first day researching and participating in binary options from a personal perspective. After reading a few articles, I immersed myself right in at the deep end. The general consensus from established forums on the subject seemed to rate some brokers over others so I decided to go for AnyOption to start with – Not really for any reason other than it’s what seemed to be recommended for ‘noobs’ such as myself. After nervously depositing £100 to the broker, I felt like a gambler with a dirty secret and I was about to make all the mistakes my initial research said I was going to make.

Today I did not really use any strategy as such and some nagging feeling tells me you are supposed to. I’m foolishly taking educated guesses as to which way the price will go. I can see the rise and fall of the price over the last hour or so and consider if the price is at the lowest it’s been for the last 90 minutes, surely it has to recover back into the zone? My reasoning seemed worthy enough and so feeling brave (if not a little feint of heart), I hastily pushed the ‘call’ button to register my ‘bet’ that the price will finish somewhat higher than this lowest point with twenty minutes left to ride in the jockey seat.

Tense moments abound and I consider that if I could bet lower than the £25 a pop, I definitely would as learning the craft on my feet is not a comforting feeling. – Indeed, is there a craft to it at all I wonder? As I sit here looking furtively at a one-hour window with the price of Oil dropping and then going up and down like a y0-yo… Who on Earth could possibly guess where the price would end up on an expiry deadline with moments to go?

Alas, the blasted price kept sinking beyond ‘the lowest of the low’ and I was ‘out of the money’ (OTM). £25 could have bought me an entire evening’s drinking down the pub! Still, determined not to give up, I considered my options once again. The EUR/USD ‘pair’ seemed interesting. Currencies! Now there’s a subject I know quite a bit about!

I tracked back over the last hours trading (AnyOption broker lets you see what happened the hour previous but no more). I attempted to reveal some kind of trend, some kind of educated pattern – Was it building like a crescendo or drooping – falling? It appeared to be doing neither.

I thought to try a little more research, see if the internet bloggers were my friends – Could anyone shed any light on specific patterns? The internet is awash with people who feel they have it cracked and many are more n willing to volunteer some much needed advice. I happened across a video on YouTube

Brokers tried so far:

Strategies tried so far: Saddle trades

Profits made today (Day One): -£2.50 (loss)

Cumulative total profits: -£2.50 (loss)



One comment

  1. Jonathan /

    Interesting. This story tells me not to give up as I had made huge loss to binary trading in the past.

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