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  1. #1
    Junior Member ProteinJunky's Avatar

    The real possibility of living off options? !!!

    I am looking to hear from traders who now or in the past have lived off binary options.

    I only ask because i am looking into investing real money this coming month.

    During this month i have made 5000$ on my demo account with Binary.com implementing a nice money management strategy and a conservative but progressive trading system i came up with myself, and the month is not over yet.

    What i ask is if anyone here lives off the markets, i see no reason why it can not be possible, once real money is invested and i use my same progressive strategy it seems it can be done.

  2. #2
    Legendry Member Michael Hodges's Avatar
    it is totally possible, the key is to make sure that you are taking care of your life before you leave your "day job". Clearing $5000 per month is pretty good, doing it every month without fail is hard to do. I know, I just came off of two losing months where I actually lost a little bit of my capital. My suggestion is that you be sure to have enough savings to cover 5 or 6 months of bills etc at least before you give up your real work. Even better, if you keep your job and keep on trading then you might actually be able to retire at a young age... something else to think about, binary options doesn't give vacation time, or pay for health insurance or every other perk you can get from a job.

  3. #3
    Legendry Member Michael Hodges's Avatar
    this is probably a good thread for you to read.....

    http://forums.binaryoptionsthatsuck....9369#post59369

  4. #4
    Junior Member ProteinJunky's Avatar
    it gives you all the time in the world however, and constant easy access to you're "workplace" that's what i really want, freedom

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  6. #5
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by ProteinJunky View Post
    it gives you all the time in the world however, and constant easy access to you're "workplace" that's what i really want, freedom
    I absolutely hear you on that. that is exactly why I got into trading myself. Like I said, it is a worthy goal but one not entered into lightly. Be sure you are ready, be sure you have a safety net and slowly ween yourself off of going to work. My example, I was a chef working like 60 or 70 hours per week, got into trading, spent many years perfecting my technique so I was profitable and now 11 years later I am living off of it... it takes time but if you remain dedicated to your goal you can achieve it. Just please don't rush headlong into thinking you can just quit working right of the bat, I'd hate to have you find yourself in dire straights and need to go back to work... if I had to go back to cheffing right now I would be so far behind the curve I would literally need to start back at the bottom and that would really suck.

  7. #6
    Legendry Member Michael Hodges's Avatar
    and honestly, I spend more time now working at trading (learning, watching news, analyzing etc) than I ever did when I was a chef. You have to like it love it need to do it like a passion, if there is no passion for the market success will be hard to achieve.

  8. #7
    Veteran Member Ronnel's Avatar
    Thanks Michael for sharing. The experiences you shared are gold.

  9. #8
    Junior Member ProteinJunky's Avatar
    Yeah i know what your saying, even with the demo account i feel tied to it sometimes, theoretically you could do an entire trade cycle at one time and just wait it out but thats very risky in my opinion.

    i aspire to make enough on trades where i can work 3-4 days our of the week at my own hours and spend the rest of my free time traveling and going to the gym

  10. #9
    Junior Member ProteinJunky's Avatar
    Yeah i know what your saying, even with the demo account i feel tied to it sometimes, theoretically you could do an entire trade cycle at one time and just wait it out but thats very risky in my opinion.

    i aspire to make enough on trades where i can work 3-4 days our of the week at my own hours and spend the rest of my free time traveling and going to the gym

  11. #10
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by ProteinJunky View Post
    Yeah i know what your saying, even with the demo account i feel tied to it sometimes, theoretically you could do an entire trade cycle at one time and just wait it out but thats very risky in my opinion.

    i aspire to make enough on trades where i can work 3-4 days our of the week at my own hours and spend the rest of my free time traveling and going to the gym
    that sounds good, I think the best approach is for trading to supplement work/life to make it easier... then maybe one day trading can take over completely.

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