Best Advice for Trading Binary Options

Jan 30

Best Advice for Trading Binary Options

“Best Advice for Trading Binary Options”

 Y  ou like the idea of binary options. You have a firm belief in yourself that you could be a great trader and you could make decent profits from this enterprise.

Whether you will or not, regardless of how excited you are at the prospect of making a living out of binary options, no newbie should be without my ‘been there, tried that’ no-nonsense fact sheet. Do yourself a favour and read what an beleaguered and tormented binary options trader has to say first. After all, I have been doing this full time for three months already and you can benefit hugely from my veteran advice.

All my advice for trading binary options is free, won’t cost you a penny, I have no affiliate link to provide, I don’t recommend anyone and I don’t even want your friggin email address!

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Day 4 – The Bollinger Bands Strategy

Dec 12

Day 4 – The Bollinger Bands Strategy

“Finally a proper strategy!”

 O  kay, so today I am excited for the first time. Because for the first time, I have been given one-to-one tuition in a real strategy – The Bollinger Bands Strategy

But before I tell you what it is and how to find it yourself, I can say that TradeRush have come through for me today by getting one of their strategists to contact me for my own little one-to-one session on the Bollinger Strategy. Although I’m still waiting for that call from Joe!

Before I can tell you about the Bollinger Bands Strategy, I think it would be useful for you to know the best places on the net to look at some live charts that will help you find it and also a website that has incredibly useful information.

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Day 3 – Slipping and Sliding

Dec 11

Day 3 – Slipping and Sliding

“£5,000 is serious money!”

 A  nyone who tells you binary options is easy money are wrong. I don’t doubt it is possible to make a lot of money, but you have to know what you’re doing for sure. Guess work is not an option because the odds are in the broker’s favour. What it boils down to is that you have to be right more times than you are wrong to win.

That said, I made no significant losses today. My lesson of throwing £200 on 60-second guesswork has been learnt. 60-second trades are fun in the beginning until you start losing a lot. It’s a fact everyone will tell you – But this advice is rarely heeded – The compulsion to try 60-second trades is strong. Everyone wants to try them out and those people will learn, like me, the hard way.

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Heavy Losses Suffered Day 2

Dec 10

Heavy Losses Suffered Day 2

“OK – I’m giving up NOW!”

 M  y confidence suddenly takes a blow. Crisis stations! Ok, so I’m new to this and I always suspected I would perform badly in the early stages. What I’ve lost financially so far is more-than-likely a drop in the ocean compared to many, but £800 is a lot of money to me. You know, if I carry on like this, I’m out before I’ve started.

Note to self – Must get on to the right path as soon as possible.

So what went wrong? 60-second-options went wrong. I felt like a rookie gambler, out for my monthly pimp at the casino. There I was, in the early hours of the morning, guessing which way the price was going tip over the next few seconds. It felt wrong and it felt as if I was chancing my luck. Let me tell you right now, dear reader, the Martingale system sucks – very badly indeed. You need to watch the following video and know that it doesn’t work… Well, of course it doesn’t work.

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CogBay is Born

Dec 09

CogBay is Born

My Weekend Cool-Off

In a way I am glad that I started my induction into binary options on a Friday. As the market is open during normal weekday hours only, the weekend has afforded me some breathing space, allowing me to collect my thoughts. Certainly if I carried on trading like I did last Friday, I’d soon lose my starting funds pretty quickly.

I’ve used this weekend to take a look at some of the strategies that others talk about out there. I’m looking forward to seeing if they work in practice tomorrow. I’ve also started to write about my thoughts and intend to log my experiences from day one in this journal. Right now I have zero readers of this blog (which is good – it’s pretty bare at the moment!). My plans are to build it into a resource for others who also start from the beginning and take their own path through the dark art of binary options trading.

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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.

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