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  1. #1
    Rookie Member

    Greetings from British Columbia Canada! !!!

    Hello Everyone,

    My name is Michael and I am new to binary options trading with only a little trading experience. Looking forward to diving into training material and starting up conversations with fellow traders to further develop my skills. My work experience background is in online marketing, support and sales. But don't worry I'm not here to throw links around.

    This looks like an awesome community with lots of great avenues of support. Going into the site's training material this weekend and then hopefully kick things off with a demo account. Anyone know of any decent demo platforms that don't require an initial deposit? Please excuse my ignorance if this was recommended somewhere I may have overlooked.

    Cheers, from British Columbia Canada!
    Last edited by BlueTitan; 11-08-2013 at 06:01 PM.

  2. #2
    Moderator Kolyo's Avatar
    Hello Michael!

    Warm welcome to our binary trading community!

    I am sure you will enjoy your participation here and will find many friends among our most active binary options traders. The best way to start learning is really by demo trading. There are many brokers offering demo accounts, but most of them allow you to open such account after you sign up with them. That is not always necessary to deposit money, just sign up. Here are some brokers I already know that they are offering demo accounts to their clients: ZoneOption, 24Option, OptionFair and Opteck. I think MarketsWorld (which is actually not among our recommended list) have demo accounts without need to sign up with them, but you could check their site or ask them in a chat. Also check our FAQ Chats with different brokers. We asked them always for demo accounts, because this is really a valuable extra for everyone of us. I wish you good luck and if you have any other questions donít hesitate to ask here


    Best regards,
    Kolyo
    CT Team

  3. #3
    Rookie Member
    Hello Kolyo,

    I appreciate the welcome and information! I dove into the training material on the site and checked out some of the recommended brokers. Figured if I was going to check out brokers, I may as well do it with good strong indicators from this community!

    I signed up with 24option but they need a deposit before the demo account is available. I really like their layout and setup so this seems one that I would be interested in trying and I have heard good things about them as well.

    I'll check out some of these other ones based on your recommendations and get my feet wet with some demo accounts. Thanks again for the welcome and information! Look forward to speaking more with you soon.

  4. #4
    Legendry Member willyw's Avatar
    Welcome abroad Micheal. I am sure you can find many useful information and materials. Dont hesitate to ask if you are in any doubts.

  5. #5
    Rookie Member
    Quote Originally Posted by willyw View Post
    Welcome abroad Micheal. I am sure you can find many useful information and materials. Dont hesitate to ask if you are in any doubts.
    Thank you! Today I am celebrating my "break even" victory on a small investment of $300 in 24option. I owe it all to the information I found here. Celebrating a little victory!

  6. #6
    Administrator Martin Kay's Avatar
    Quote Originally Posted by BlueTitan View Post
    Thank you! Today I am celebrating my "break even" victory on a small investment of $300 in 24option. I owe it all to the information I found here. Celebrating a little victory!
    Cheers mate!

  7. #7
    Legendry Member Michael Hodges's Avatar
    Tell us more! What's your breakeven story?

  8. #8
    Rookie Member
    Well I started off on this website for binary options information and learning from the beginning. I work in online marketing, so when I find a topic of interest I want to go and determine the sources with authority and quality information. It's part of my nature as a marketer and personal curiosity. So when I discovered some video on youtube where there was this guy using the "5 point decimal system" strategy I was skeptical, so I went to learn more about binary options in Google.

    It started more with a search to learn more about the brokerages and how they operated, and if the deposit situation was a scam or not. I found the recommended brokerage page on this website particularly well thought out and informative. That's when I became interested in the overall concept of trading as I was familiar with it but had never put it into practice myself. I started studying up on risk management above all else, and focused on learning some of the basics from the tutorial section of this website and other varying sources such as videos of live trades and any reading material I could get my hands on that seemed to be reputable. About a week and a half in total.

    I started a 24option account soon after as I was quite fond of the layout, but looking back not the best option for a minimum trade of $24 with a total $300 capital. Capital hard earned doing freelance work over my free evenings, but that wouldn't set me back with financial obligations or comfort of living if lost. And so my journey began....

    Armed with 'freestockcharts' I decided to make a trade or two to get my feet wet. I was (impatiently) waiting for support to issue out a demo account login to practice in. Needless to say one bad trade turned into two bad trades, and then a third bad trade chasing lost investment, then the immediate realization that I knew I shouldn't be chasing lost profits.... haha... so pretty soon I've chewed through 2/3 of my invested capital on 1min,2min, and 5min expiries. Then I stopped for the night.

    After that experience I decided I knew enough to get in trouble, but that was about it. So I started learning more important details about trading, like avoiding short expiries (lesson learned the hard way) and how to use price action, with candlestick charts & bollinger bands. Sticking strictly to forex trading strategies and information as my starting point.

    So fast forward to 2 weeks later, and I have studied the beginner and intermediate guides and gained profits on my demo account. I was able to double the $600 provided by 24option in their demo account over 2 weeks span. Still using relatively shorter expiries at the time, but they seemed to work well for my availability to trade vs time of day in the market. I notice there really isn't much movement on forex at the times I am available to trade in the day.

    Well the other day I started up my live account again and began to place a few careful trades after watching the charts for a few hours. Eventually earning back my lost money back to the original $300 balance. Learning/Experiment money recovered.

    Overall learned a whole lot this past month. Mostly about what not to do, although I prefer short expiry times I recognize the need for me to learn longer term trading strategies. That's the whole story in all it's wordy glory, are you sorry you asked yet? haha just kidding

    Learned:
    - I need more capital to keep my risk per trade under a 5% threshold with 24option. (my ideal risk per trade % for the moment)
    - I need more strategies for trading on long expiry times
    - I need more training before I jump back on my live account
    Last edited by BlueTitan; 11-21-2013 at 04:08 AM.

  9. #9
    Legendry Member willyw's Avatar
    Quote Originally Posted by BlueTitan View Post
    Well I started off on this website for binary options information and learning from the beginning. I work in online marketing, so when I find a topic of interest I want to go and determine the sources with authority and quality information. It's part of my nature as a marketer and personal curiosity. So when I discovered some video on youtube where there was this guy using the "5 point decimal system" strategy I was skeptical, so I went to learn more about binary options in Google.

    It started more with a search to learn more about the brokerages and how they operated, and if the deposit situation was a scam or not. I found the recommended brokerage page on this website particularly well thought out and informative. That's when I became interested in the overall concept of trading as I was familiar with it but had never put it into practice myself. I started studying up on risk management above all else, and focused on learning some of the basics from the tutorial section of this website and other varying sources such as videos of live trades and any reading material I could get my hands on that seemed to be reputable. About a week and a half in total.

    I started a 24option account soon after as I was quite fond of the layout, but looking back not the best option for a minimum trade of $24 with a total $300 capital. Capital hard earned doing freelance work over my free evenings, but that wouldn't set me back with financial obligations or comfort of living if lost. And so my journey began....

    Armed with 'freestockcharts' I decided to make a trade or two to get my feet wet. I was (impatiently) waiting for support to issue out a demo account login to practice in. Needless to say one bad trade turned into two bad trades, and then a third bad trade chasing lost investment, then the immediate realization that I knew I shouldn't be chasing lost profits.... haha... so pretty soon I've chewed through 2/3 of my invested capital on 1min,2min, and 5min expiries. Then I stopped for the night.

    After that experience I decided I knew enough to get in trouble, but that was about it. So I started learning more important details about trading, like avoiding short expiries (lesson learned the hard way) and how to use price action, with candlestick charts & bollinger bands. Sticking strictly to forex trading strategies and information as my starting point.

    So fast forward to 2 weeks later, and I have studied the beginner and intermediate guides and gained profits on my demo account. I was able to double the $600 provided by 24option in their demo account over 2 weeks span. Still using relatively shorter expiries at the time, but they seemed to work well for my availability to trade vs time of day in the market. I notice there really isn't much movement on forex at the times I am available to trade in the day.

    Well the other day I started up my live account again and began to place a few careful trades after watching the charts for a few hours. Eventually earning back my lost money back to the original $300 balance. Learning/Experiment money recovered.

    Overall learned a whole lot this past month. Mostly about what not to do, although I prefer short expiry times I recognize the need for me to learn longer term trading strategies. That's the whole story in all it's wordy glory, are you sorry you asked yet? haha just kidding

    Learned:
    - I need more capital to keep my risk per trade under a 5% threshold with 24option. (my ideal risk per trade % for the moment)
    - I need more strategies for trading on long expiry times
    - I need more training before I jump back on my live account
    Good work Blue Titan. Keep it up!!!! In order to succeed you need to work hard, equipped yourself with more knowledge.

  10. #10
    Senior Member Deanfx's Avatar
    Hi BlueTitan,

    Thank you for sharing your first experience in binary options trading. Don’t worry about your initial failure. Every one of us started with similar experience and some of us learned a lot from it. Now you have to learn from that failure and to try to make the best possible to return back to your wining track. The biggest mistake we ever had is to try to revenge the market, to make bigger bets after losing trade. Market never forgive such mistakes and you pay much for them.

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