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.

‘Free’ bonus cash

So today was supposed to be the dawn of a new era. TradeRush made several calls to me yesterday. They were very keen to get me on board properly with them. Eventually they convinced me to deposit a significant amount (£5,000) which I did after some careful thought. After all  I had lost a lot already in such a short space of time and I needed to prove to myself that I could turn it around into profit. It was this promise by a senior analyst at TradeRush to show me the ropes and teach me some strategies – To put me on the right path. I was promised £3,000 ‘bonus’ money if I joined their ‘Gold’ package with the £5K deposit! This extra cash in addition to the amount you deposited is free for you to use as you like and you keep the profits of course, BUT – Yes, there’s a catch! I mean think about it – What is there to stop you taking your money back tomorrow, with their bonus money for a nifty £8K for doing nothing? Terms & Conditions, that’s what!

Usually when you get offered free cash for making a decent deposit, there are strings attached to it. In this case, I had to sign a waiver form that made me agree I would need to trade x30 times the bonus money cash before I could withdraw anything. Yes, that included my original deposit money. According to my calculation, 30 times £3,000 is £90,000. So I would need to process £90Ks worth of trade value before I could withdraw any cash (That’s supposing I have anything left after £90K!) – Ouch! Could I do that and survive?! Nah, not too confident about that yet.

So I declined the bonus cash offer. Because I don’t want to lose £6,000 of my own money on trading – That’s too much money. If I start performing poorly, I want to have the ability to withdraw what I have remaining and call it a day – After all, I’m already £800+ down now. Besides, they told me I could always take the bonus later after I’ve convinced myself I show enough promise to do well.


No Show

With my £5,000 deposited with a very keen TradeRush, I was now set and ready to get the help and support I needed from their team of analysts and strategists. Most of my morning was spent finding and sending them scans of ID forms. For money laundering purposes, they want proof of ID, credit cards, proof of address, etc. – But I was in good spirits. After all, I was very much looking forward to the meeting with Joe, the senior analyst.

Sadly I was disappointed when our 10am appointment turned out to be a no show – I didn’t even get an email to say he needed to cancel. Frustrating because I was in much need of some help. Irritating because throughout today I received call after call from other brokers whose service I’d opened an account with, but hadn’t yet lodged any money – And these brokers seemed to be offering me better deals than TradeRush !! I suppose since now TradeRush have my money and ID all sorted, they can take their foot off the accelerator. Like I said, disappointing.


Signals from the Pros

Part of my research at the weekend was to find new strategies. I came across a service called ‘Binary Options Pro Signals.’ Keen to check them out, I searched other sites and forums, they seem legit and their record for getting it right appeared to be backed up by several established, but independent websites and bloggers.

Because they offered a free trial, I thought I had nothing to lose by checking them out. This free service came through for me today and I was hooked into a special Skype session. How this works is that once per day, usually when the markets open, specific signals are communicated to the Skype chat window. This would look something like “EUR/USD 1.80756 Call”

I was given three such signals, which you must act upon immediately. First you need to get the right windows open and ready to the appropriate Forex (Foreign Exchange) currency pairs, and then wait for the price to drop or rise to the price suggested by the signal (within three pips or better), then make the trade.

Fumbling around this first time, I managed to get one of them set – And it came through! Actually, all three of them were correct signals (but I only managed to place a trade on one of them). 100% track record so far – So already I am looking forward to tomorrow’s ‘pro signals!’ I did find myself wishing I’d placed bigger money on them – But I had to trial it first, right? This pro-signals group partner with another broker who they encouraged me to sign up with –

I see no harm in signing up with a few brokers and it’s recommended for a number of reasons.

  1. It gives you the chance to see other interfaces to see which you like best.
  2. You can spread your money around, not keep all your eggs in one basket.
  3. Some brokers don’t carry some currency pairs / commodities. By joining a few brokers, you will increase the number of stocks to bid on.

My evening finished with a call from yet another broker with promises to hold my hand and take me under their 15-year-professional wing – Banc De Binary in this case. I actually liked the guy and thought I could easily work with him if TradeRush don’t push my buttons!

I ended the financial day a little further down on yesterday. Just a little slipping and sliding today! Add another £60.47 to my losses to make my total minus figure of £850.19. That said, I made relatively few trades today.

Tomorrow is another day!

 Brokers tried so far:;;

Strategies tried today: Longer 30 minute and one hour trades

Profits made today (Day Two): -£60.47 (loss)

Cumulative total profits: -£850.19 (loss) 


  1. Jonathan /

    So traderush never showed up? Then my instincts in the first place is right. I have also heard of ‘binary options pro signals’ and even receive emails everyday to complete my signup.
    It is owned by Norbert who now markets his newly-launched ‘german binary trading robot'; but reviews about the bot isn’t encouraging maybe because it is still fresh new hence little bugs tend to appear until it is fully tested.
    But wait a minute! How and why did you lose today?

    • admin /

      Losing is part of the game! Obviously it’s impossible to win every trade. As a signal provider, I usually trade personally first and if I’m doing well, I switch on the ‘signal’ button. But the markets weren’t so great today… But that’s how you play it – You trade little or not at all when the market’s poor – Then you trade more on days where the conditions are good – I took one loss today, I might take 10 wins tomorrow… That’s the best way to trade.

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