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  1. #1
    Rookie Member Sean Borthwick's Avatar

    Sean B Learning Journal things I learned in BOTS school the early days !!!

    I am putting this in the newbies section as I do not feel I am ready for the war room yet. If moderators would prefer to move it there feel free.

    ::::Things I learned in pre-school::::

    -Read, and understand, the fine print of your potential broker with a microscope.
    -Expect to get pressured by a sales person from the brokerage. Today Jan 12, 2015 with this knowledge and an absolute no position and 1/2 hour of time I told my broker "NO",,, YEAH and a YAHOO!!!
    -Go slow.
    -Demo, demo, demo. Hmm I wonder if this site will teach me how to back test as well?
    -Basic information about what Binary Options are.
    -Lots of scammers out there. Lions, tiger, bulls and bears, oh my,,, now we have to be scared of the bulls too. Bulls fight by goring up, bears fight on there back legs crashing down. Okay I did not learn that on the site but it was an easy way for me to remember the difference between ups and downs.
    -Where to go if one needs help or support,,, BOTS of course.
    -Beware the Bonus. Nothing in life is free.
    -Do your own research, do your own trading and use common sense.

    Pre-school is done

    Ps. "All I Really Need to Know I Learned in Kindergarten" by Robert Fulghum
    Last edited by Sean Borthwick; 01-13-2015 at 07:59 AM.

  2. #2
    Rookie Member Sean Borthwick's Avatar
    ;>) ;>) Things I learned in Primary School (<; (<;

    - How much of a sucker I was to just deposit money so easily. Lesson learned but dodged a bullet.
    - How easy it is to deposit, how hard it is to withdraw. (Kinda sounds nasty when you say it that way.)
    - I don't want to be a nice guy, even though in real life I am, I do not want to be a shark either, all the gore yuck. I want to be a turtle, old, crusty, slow, methodical, and not very tasty to the sharks.
    - The psychology part I understand, fear, greed, excitement, my greatest enemy though... boredom. It is what you do with emotions that count, in life as it is in the markets.
    - Start a journal, okay, okay, that is what this is. I teach others to journal and do it myself just not usually in public.
    - I will make mistakes.
    - Invest in yourself, read, educate.
    - Invest what you can lose. All that read this please also consider donating to Polio we are this close || to getting it gone.
    - Find a Money Management strategy that will work for me. Knowing me stick below <3% total and <1% in any given asset.
    - Time management is just as important as money management. (Learning for me now about 3-4hrs per day. Once back to work stick with two hours in the evening. If this does not work split time one hour in early morning and one hour in evening depending upon chosen markets.)
    - Choose a couple of markets know them inside and out.
    - This is hard work.
    - Use more than one indicator to choose a move.
    - Three pillars; sound strategies, sound money management, and sound discipline. Sounds about right. ???

    Primary school is done.

  3. #3
    Moderator Kolyo's Avatar
    Great work Sean,

    It looks you are taking binaries really seriously and you are ready to learn everything slowly and methodologically Keep posting here, your thread is really great!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  4. #4
    Legendry Member milos's Avatar
    Well done Sean.Risk management,discipline trader,psychology of trader, 20% charts and 80% rumors and news.

  5. #5
    Legendry Member willyw's Avatar
    Good work. Keep it up Sean!!!!

  6. #6
    Administrator Martin Kay's Avatar
    Seems like school got you on fire (: Keep it up mate
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  7. #7
    Rookie Member
    It's a good work.

  8. #8
    Legendry Member Michael Hodges's Avatar
    Yo! BAcktesting, its kinda easy....first define what makes a signal for you.....then use a chart of historical prices ie a chart that goes back a few years and look for the places that meet your signal....then check and see if it is a winner or not. After that tally the winners and losers and you will have a rough idea of the percentage chance your signal will work...

    taking it a step further you can also count how many candles/bars it takes for price to move into the money....the average of that number will give you a target expiry for your signal.....

    so, doing both of these things will provide 2 details for your often to expect success, over 60% is good more is better, and how long of expiry to use.....this technique can be done on any time frame chart and you should keep it up to date with a spreadsheet, that way when you get a signal you can add it in to the mix for the most up to date data you can have....also as you add rules to your signal you can create new tables or graphs so that you can compare and contrast success rates and expiry times.

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