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  1. #1
    Rookie Member TheCiderHouse's Avatar

    Greetings from the UK (My first trading experiance). !!!

    Hello, my name's Luke from the UK. Started trading three weeks ago on IQoptions.
    Started off unsuccessfully and lost my initial deposit of £100. Found the martingale method and deposited £350 and fast forward a week and a half later I had made £2200 (£1900 in profit). Must of been a very lucky week of trading, because as I know now the martingale method is essentially gambling. I lost it all bar £230 (I took the £350 out luckily before tings come crashing down), now looking for good strategies to be used to turn that £230 into something good.

    Thanks for reading, Luke.

  2. #2
    Moderator Kolyo's Avatar
    Hi Luke and welcome to CommuniTraders!

    You were really lucky (the luck of the newbie) but you saw that it is not working that way.. It is good you succeeded to save your second deposit. If it was so easy we all would have been billionaires already Actually trading with safe money management, and I have to boldly say without using Martingale is a slow process of building your capital. It won’t produce overnight results, but if you are persistent you can make some good money.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  3. #3
    Rookie Member TheCiderHouse's Avatar
    Yeah, I have to agree must of been beginners luck. Well, I am willing to work hard so I do hope that results will start displaying. Thanks Kolyo.

  4. #4
    Rookie Member 81Always's Avatar
    Hi, I am using the martingale with caution. Still not depending solely on it. I have my Support and Resistance and price action strategy, but when I lose, I do the martingale using the above mentioned strategy, while increasing my trade amount to cover my loss and add a smaller target profit. I am trading in this amount order: 1st candle -$10(winning $8) ,when it is a loss, increase to 2nd candle- $18 (winning $4.4), then $41, then $92, then $207 - if still a loss, then I quit( possible losing $368). I recorded my stats and out of 125 real trades, I won on 1st candle($10) =61 times, 2nd candle = 38 times, 3rd candle = 13 times, 4th candle= 5 times, 5th candle = 6 times, loss 5th candle =1. My initial deposit was $1,000 and it went to $1630.6 then I experienced my first loss on my 10th trading day so it reduced to $1,262.6 and currently I am at $1,400.2 for 15 days of trading. But be aware that I DID almost 3 months of DEMO trading using this Strategy before I go Live or use my Real account. I hope this helps! Thanks!

  5. #5
    Rookie Member TheCiderHouse's Avatar
    That does seem like a really good method. $400 for 15 days is good considering you aren't an 'advanced' trader. If you could keep that up and even step up your bets to x2 like I did, you could make a sufficient more amount, but obviously it carries x2 the risk.

  6. #6
    Legendry Member Okane's Avatar
    Quote Originally Posted by TheCiderHouse View Post
    Hello, my name's Luke from the UK. Started trading three weeks ago on IQoptions.
    Started off unsuccessfully and lost my initial deposit of £100. Found the martingale method and deposited £350 and fast forward a week and a half later I had made £2200 (£1900 in profit). Must of been a very lucky week of trading, because as I know now the martingale method is essentially gambling. I lost it all bar £230 (I took the £350 out luckily before tings come crashing down), now looking for good strategies to be used to turn that £230 into something good.

    Thanks for reading, Luke.
    Welcome!
    We have plenty of strategies but a strategy
    will not keep you profitable in the long run.
    Sure, you might have another lucky run with a "good strategy"
    but in the end you will lose unless you actually learn how to
    read and understand the charts. I suggest you start going to school right away:

    www.binaryoptionsthatsuck.com/school

    Also check out the members war room, see how other people are trading successfully!
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  7. #7
    Rookie Member 81Always's Avatar
    Quote Originally Posted by TheCiderHouse View Post
    That does seem like a really good method. $400 for 15 days is good considering you aren't an 'advanced' trader. If you could keep that up and even step up your bets to x2 like I did, you could make a sufficient more amount, but obviously it carries x2 the risk.
    Yeah.. I will probably double or triple my trading amount in the future but I have to build on my capital first and to master the strategy. still have a long way to do that. I am currently trading an hour or two per day using this strategy because I have a day-job and also to avoid over-trading that may lead to big losses. I am targeting to profit at least $50 a day, but a lesser than that is okay when I feel tired already especially if having a long day from work. Thanks for reading!

  8. #8
    Legendry Member Michael Hodges's Avatar
    The key no one yet mentioned here is money management, keep all your trades small - which is totally counter to Martingale which relies on ever increasing trade amounts to keep you at break even-- and will eventually wipe you out. Small consistent trades with consistent performance is the only way to go in my opinion.

  9. #9
    Rookie Member TheCiderHouse's Avatar
    I agree! I've been going through the school and learning the basics which is really helpful.

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