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  1. #1
    Rookie Member JCTrader's Avatar

    Smile Greetings from Midwestern United States !!!

    Hi All,

    I'm JCTrader and I'm from the mid-western part of the United States. I've been lurking about BOTS for about 3 months now and it has easily become my favorite Binary Options community on the net. All the folks here are very kind and are only looking to improve everybody as traders. I figured it was about time I finally threw my hat in .

    I have known about BO since early 2012. I, like many new traders, saw BO as a way to make money fast and didn't have a whole lot of training under my belt. I watched a few YouTube videos and tried to use the Martingale strategy I saw many of the folks using on there. I opened an account with 24Options (Before they became CySec regulated) and managed to luckily enough turn $500 to $1,000 and was able withdraw my initial investment, so technically I didn't "lose" any money. Quickly, after I ended up losing all my earnings simply because I didn't have the capital to continue using such a strategy.

    After that endeavor I shied away form BO for a few years and came back about 7 months ago. This time I actually took the time and studied up and learned how forex markets worked and how BO works. I opened up a demo account with MarketsWorld and began trading using the $5,000 initial investment the account provided. From November of 2014 to March 2015 I had managed to take that account up to $75,000. I ended up taking some bigger risks then I should have (over-confidence) and when I lost it lead me to revenge trading and just as I had earned it...I had dwindled the account down to $10,000.

    That brings me to where I am at today. I plan on starting a trading journal hear to show my trades and thoughts and to also be kept accountable from making similar mistakes again. I'm glad to be joining the community! Thanks again for everybody's input on the site, I learn from everyone!

    -JC

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  3. #2
    Legendry Member Michael Hodges's Avatar
    That's great, you lost but are letting those losses lead you to make better decisions, even though you tried "revenge" trading for while. Let us know what kind of strategy you are using, we all want to know... it's social trading after all ;-)

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  5. #3
    Veteran Member Dan21's Avatar
    Welcome to BOTS! Well, life is life, you know. Every beginning is hard and every path to success has its ups and downs. The most important thing is to learn from you mistakes and gain experience from every single trade. This way you'll learn. That's why I think BOTS room for trading diaries is incredibly important. It's great if you can learn from someone elses losses and wins. By the way, it's also very useful to start your own trading journal so you can track your progress better.

    Wish you good luck and happy trades!

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  7. #4
    Senior Member linda_fx's Avatar
    Hi! Don't worry, you're not the only one. Almost everybody blow their first accounts due to beginners mistakes (I did too). It's ok as long as you don't quit.

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  9. #5
    Moderator Kolyo's Avatar
    Welcome here JC,
    Nice to have you on board among us!


    It is a wise decision to trade on demo and all of your experience trading in demo mode will help you when you come back trading real money account. I don’t think that trading with martingale strategy is a good strategy. We have discussed several times in the forum on martingale and our conclusion is that it can produce nice looking results for a while but at the end will ruin your account like it happened with your or the other side if you didn’t experience such a big loss you still won’t get the optimal results for your strategy, because you will trade too small most of the time.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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  11. #6
    Veteran Member Dan21's Avatar
    Yeah, Kolyo is right. Martingale sounds very reasonable before you try it for a longer period of time. Honestly, I think you should choose a few different strategies that fit different market conditions and learn how to switch between them depending on the current movement and situation. Of course this is hard and it will take some time for you to master it, but that's what you want to do anyway - learn and improve.

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  13. #7
    Legendry Member milos's Avatar
    Hi JC

    Such is life. I lost trades. It happens! Not to worry. You should invest more knowledge.

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  15. #8
    Administrator Martin Kay's Avatar
    looking forward seeing you around mate!
    If you have any question, whatever it is, do NOT hesitate!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

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  17. #9
    Solid Member Pinayito's Avatar
    Hi JC, welcome to BOTS. At least you did not give up. Keep going because as we gather experience, it will make us better traders (IF one learns from his/her mistakes because some unfortunately don't!). Cheers!

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  19. #10
    Veteran Member Dan21's Avatar
    Yeah, after reading a lot of topics here in our community I am starting to believe that not quitting is actually a huge part of becoming good. That goes for other things as well, it's just that in trading it's harder to swallow the first few beginners fails.

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