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  1. #1
    Rookie Member

    Hi everyone! I am a newbie with Binary but I have traded commodities for20 years !!!

    I just stumbled into the website checking at brokers reviews. I already have one... Boss Capital and so far its working good. However, a VIP group I wanted to join up wanted me to use Go Options so that is the reason I was checking this website.
    I have traded commodities for over 20 years with fair results. I had a couple of very good years I made tons of money but most years were fair. I believed in hindsight that I was more lucky than good. Those good years were bear market years and I predicted the overall trend of the market. Since bear markets tends to be swift to crash, more money can be made in very short time.
    This is what attracted me to Binaries. At first glance, I ignored it. I saw the payouts to be sucker bets so I thought it was pure gambling with the brokers acting as bookies. They take the bets on both sides and take a hefty cut of 15-40% before giving it to the winner. However, the system does have a major biased. It can mathematically be beat when the market trends. Hence , my interest was piqued. I was originally researching its possibility for a friend who wants to trade commodities but had little capital. I figured this is a better alternative for him. But now I think this is better than Forex or Commodity trading.

  2. #2
    Administrator Martin Kay's Avatar
    I've alwayes believed in Binary Options the trader has an advatage over the house. On the downside, you have to achieve about 55% success to break even. So I'm glad we have another experience trader joining the binary field.

    Wha'ts that VIP group and what's its purpose?

  3. #3
    Rookie Member
    I am still checking them out. What it is is that the lead trader formed a group to mentor others. Instead of charging for the mentorship, he affiliated himself with Go Options. Go Options pays him some commission for bringing people in. You have to open a minimum of $500 and had to be approved to join the group. At first I was skeptical but after his students (currently 250) posted their results on his youtube video, that I wanted to check them out. Anyway, I will join and if the training is good, I will let you know. Basically, I am taking one for the team.
    My personal indicators gives me anywhere from 64%-85% win/loss ratio. For some reason, independent of any reasoning or system, it just have bad days and some good days. So I want to improve a little more. This VIP team based on what I have observed is batting higher. I guess around 75%-95%. Normally, I am very skeptical of affiliated mentoring students. They just really give you indicators that are not very meaningful and some actually pretty useless. But, performance is the important thing for me and this group seems to deliver. So I will let you know. I have enough experience to know what is BS or real.

  4. #4
    Rookie Member
    I am not sure of your statement that the trader has an advantage over the house. They take 15-40% cut. You have to make up that difference. I believe your win/loss ratio has to be at least 70% to make money. Also avoid the stupid, long shot bets and practice good money management or you will lose.
    Quote Originally Posted by Martin Kay View Post
    I've alwayes believed in Binary Options the trader has an advatage over the house. On the downside, you have to achieve about 55% success to break even. So I'm glad we have another experience trader joining the binary field.

    Wha'ts that VIP group and what's its purpose?

  5. #5
    Moderator Kolyo's Avatar
    Hi and Welcome aboard! I think if you have already experience with trading you will quickly realize the pros and cons of binary options trading. As an alternative investment it has its advantages.

  6. #6
    Solid Member susan's Avatar
    Hello, nice to meet you! I don’t think BO’s like gambling. It’s based on tracing the logics and possible impacts of different events on the market. If you gain good experience and if you don’t rush into trading before you’ve made your researches, you can win, even though here there is a limit to what you can earn for a specific period of time. Anyway, it’s great to have another experienced trader on the time so welcome aboard and good luck!

  7. #7
    Active Member rongold's Avatar
    Welcome mate! Can you share with us what was your performance during your 20 years of commodity trading? Have you been on the positive side? I also have 6 years of commodity trading. 4 of them profitable Mostly due to the big gold trend, which is already in the past.

  8. #8
    Rookie Member
    Most of the years I just have a little profit. Remember that when i first traded, commissions were outrageously high. i was paying up to $45 RT so i was basically keeping these guys in business. There was a year I paid $87,000 in commissions! Then on top of that I paid over $100K in Fed taxes and about $30K in State. That year was one of my best years (I had two great ones). I netted over $350K that year. However, most years were so...so. One thing I noticed over the years that there is more volatility in the market. There was a time that market trends for awhile before a counter trend. That is not true anymore. Even though there are still good trends, the counter trends are vicious. It is hard to be a long term trader anymore. I used to hold positions from 1 week to a month. You can not do that anymore unless you have big bucks. Now 1-3 days is normal for me and I worry too much because most markets do not close at night like they used to. Hard to sleep when you got positions overnight. I think computerized trading that uses algorithms that scalps the market had added greatly to the whipsawing moves of the markets.
    Trading for me... is the hardest easy money you can make. You have to continuously improve and adjust your strategies.

    BTW to answer your question, I traded the nasdaq on its way down during bear markets. Those were my two good years 2000 and 2008.

  9. #9
    Senior Member Deanfx's Avatar
    SrTrader, thank you for sharing this information. I am thinking about switching to commodities. It seems to me that longer positions will work better for me even thought they expect stronger nerves and a better schedule.

  10. #10
    Solid Member pinoytrader17's Avatar
    Quote Originally Posted by SrTrader View Post
    I am still checking them out. What it is is that the lead trader formed a group to mentor others. Instead of charging for the mentorship, he affiliated himself with Go Options. Go Options pays him some commission for bringing people in. You have to open a minimum of $500 and had to be approved to join the group. At first I was skeptical but after his students (currently 250) posted their results on his youtube video, that I wanted to check them out. Anyway, I will join and if the training is good, I will let you know. Basically, I am taking one for the team.
    My personal indicators gives me anywhere from 64%-85% win/loss ratio. For some reason, independent of any reasoning or system, it just have bad days and some good days. So I want to improve a little more. This VIP team based on what I have observed is batting higher. I guess around 75%-95%. Normally, I am very skeptical of affiliated mentoring students. They just really give you indicators that are not very meaningful and some actually pretty useless. But, performance is the important thing for me and this group seems to deliver. So I will let you know. I have enough experience to know what is BS or real.
    i guess you are refferring to julian wong from singapore i stumble upon his facebook after watching most of his youtube videos and chatted with him, he told me the same that he will create an account for me in goptions and ill deposit the minimum of 500bucks as part of money management he introduce, but i was skeptical about his broker goptions aside from BOTS dont recommend it, it has a lot of complaints all over the internet about withdrawing your funds, it really sucks the company gives many excuses but you cant still withdraw i hope the 300 students that he recommend to the said broker will not be a victim of this withdrawal problem, i ask him how much he already withdrawn from that broker and he send me a screenshot of the account status of his withdrawal which is approved, a total of 70k, currently his account balance is 100k
    the only thing i like in his group is his strategy, he often use 60sec as an expiry time but it is not recommended for newbies such short Expiry is dangerous, he is so confident in such strategy that he traded one asset in one direction continously under 60secs , i guess the guy is well experience in trading and has a deep understanding on market fluctuations, as he recommend the time he traded every trading session , he knows where the market moves in a particular hour of the day to his favor,

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