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  1. #1
    Rookie Member Yiki's Avatar

    Beginner strategies | IQoption trusted? | !!!

    Hey.

    I've been lurking around here for a few hours - really nice forum, with great people and great advice. I've never invested in binary options before, but it seems like fun so I decided to pick it up. I've been practicing on IQ option with a demo account. The only "strategy"(if you even can call it a strategy)I've tried is the martingale-strat. It's working, however, I feel like it's gambling. I might aswell play roulette. Stick to the colour red. Bet 1 dollar, if I lose, I bet 3, then 8, 18 so on and so fourth, until I win. I don't like it.

    What I'm wondering is the following:
    - Is IQ option legit?
    - What are some good beginner strats to start with?
    - Is there anywhere I can read about all the tools like RSI, Candle bars, Boiling bands etc.?
    - How much should I start with? 10 euro? 50? 100?
    - Also, do I pay taxes on the winnings? I live in Sweden.

    Any help/advice is greatly appreciated!

    ~ Yiki
    Last edited by Yiki; 07-13-2016 at 08:20 PM.

  2. #2
    Senior Member vulgartrendkill's Avatar
    Welcome!!!

    First of all, you are quite right to start small. I would really recommend avoiding martingale!

    I have heard bad things about IQoptions but if you start small, and can withdraw profits ok then thats ok. Start here with the school section.

    Use the Communitraders demo function here BEFORE putting any real money up.

    I`m not sure about where you are, but in the UK, winnings are treated as income from gambling and therefore Tax free.

    Good luck!!!
    Last edited by vulgartrendkill; 07-13-2016 at 08:24 PM.

  3. #3
    Legendry Member Okane's Avatar
    Hey welcome/välkommen. Good questions!
    By the way I thought I saw a Swedish name adding us on the Skype group
    was it you? I didn't have time to add you yet, will def. today!


    - Is IQ option legit?
    Check out our recommended brokers here,
    I use 24Option, the minimum investment per trade is higher but they are good and always payout.

    - What are some good beginner strats to start with?
    Before you even start with a strategy, I recommend our binary options school

    - Is there anywhere I can read about all the tools like RSI, Candle bars, Boiling bands etc.?
    Yes, on the main page, just search for whatever tool you want or browse here.

    We also have a collection in the forum in this thread, click here.


    - How much should I start with? 10 euro? 50? 100?
    Depends on the minimum investment. If you start with 1 million dollars and the minimum trade size
    allowed is 100 000 then obviously 1 million is not enough but if you start with 500 and the minimum trade size
    allowed is 10 bucks then that allows for a better money management. These things are explained in the school
    so again, I recommend checking the school.

    - Also, do I pay taxes on the winnings? I live in Sweden.
    Well dear, you are in Sweden, is there anything that isn't taxed there?
    It's 30%
    Live Webinar: Hidden Content
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  4. #4
    Legendry Member milos's Avatar
    Welcome to Communitraders!

    Iqoptions offers demo trading platform $1000 deposited account. You can practice before start real account trading.

    As it is previous written better to use CT demo account.

    Happy trading!

    Milos

  5. #5
    Master Member SeasaltMcFish's Avatar
    Welcome!

    Please forget the Martingale asap, it's crap and will kill your account one day. It may work for a while, but in the end it will a bitter taste and the profits are far too small for the risk you take.

    Even with roulette, with a much better payout, it's crap and asking for trouble, so get rid of it as soon as you can.

    On the main site, you can find tons of articles and reviews, so happy reading

  6. #6
    Rookie Member Yiki's Avatar
    Thanks everyone!

    I'm definitely avoiding the martingale. I'm not looking for any gambling.

    I'll make sure to check out the school. And yes, it was me who added you on skype. Btw, I found this forum through your posts on Flashback, Okane

    Oh.. sucks that we have to pay 30% in taxes, even though we're risking our own money?

    I find the IQ option UI easy to use. I will make sure to try out both 24option and the CT demo.

    Thanks again guys!

  7. #7
    Active Member BjornVdKerkhof's Avatar
    Hello Yiki,

    I've also started my trading journey on IQ Options platform, it looks slick, it operates smooth, the indicators you can use on them are perfect for newbies to learn, service is top and very fast.

    I had to move away now from IQ Options because of a law in my country. (Which is not a bad thing because I'm discovering many more and other things now and am pushed to new stuff., I'm discovering a whole other way of trading in fact.)

    On IQ Options I started out with the demo account until I was confident enough and then went for the real money account.

    Martingale-strat can be profitable approach to trading but like many before me already said, it can bust you out quite fast, if you don't have a decent strategy, if you don't watch out and if you start with a low balance.

    In my opinion Martingale is nice if you have a specific strategy, a big balance, and low buy-in (even if you have a big balance) but I think for newbies like us it's better to learn to decent analyze charts (check freestockcharts for that) with the right indicators on. I'm using 2 kind of tabs: one is a bollinger band + stochastic combo and the other MACD + MACD histogram combo with 5min. candlesticks and work from there, make a nice controlled trade, if you bust that trade, analyze what you did wrong, and start again.

    There is one particular tactic from a guy I like and he is also using Martingale but he stops after 4 busts, you can find the video here: /watch?v=p5nMBWF7ETo&list=PL6i27XcTuQN9hEGlx4YMHLF5 EcDYeM_Oq&index=19

    Still it's a tricky approach and I've looked away from it for now.

    My suggestion: Don't use it, buy-in with 5% to 10% of your balance, keep on using demo until lets say you make 10 trades and 7 from them are in the money. I think then you have a decent tactic down and are ready for some real money trades.

    IQ Option is leggit, I had my withdrawel the next day, so nothing to worry about there.

    Best of luck, Bjorn.

  8. #8
    Master Member SeasaltMcFish's Avatar
    Biggest problem with the Martingale is: it's useless.

    It's not giving any more profit than trading with a fixed % of your account, no, it's giving less profit, with a bigger risk. Even when using a 4 step Martingale.

    It may sound stupid, but using the Martingale is a prove of fear and weakness. It's prove of not being able to accept some losses and fear of failing.

    Simply try it on a spreadsheet with enough sample size and you'll know 'the big secret'.

  9. #9
    Active Member BjornVdKerkhof's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    Biggest problem with the Martingale is: it's useless.

    It's not giving any more profit than trading with a fixed % of your account, no, it's giving less profit, with a bigger risk. Even when using a 4 step Martingale.

    It may sound stupid, but using the Martingale is a prove of fear and weakness. It's prove of not being able to accept some losses and fear of failing.

    Simply try it on a spreadsheet with enough sample size and you'll know 'the big secret'.
    I disagree on that one, and that's out of own experience.

    It's like I described above, not to recommend for newbies, low balance, high buy-in, or a weak strategy.

    If you start with a big balance, low buy-in, strong strategy it's a fairly nice way to trade, I really enjoyed it and that is on IQ Option platform or any other platform that is build in the way like IQ Option.

    And to point it out as being a sign of fear or weakness I think is irrelevant, for some coming through the back and slit your throat is a sign of fear and weakness for others it's a spec op technique to take out the target as quick and silence as possible.

    I think most and best suggestions are given on this threat and I think you have to try everything out.

    Ofcourse you will always have some kind of ways people prefer more, and will scream it out loud DON'T DO THAT BECAUSE THAT IS BAD, simply because it doesn't work for them but because it doesn't work for them, doesn't mean it will not work for you.

    And if you don't have experience with one, you simply don't know if it works for you, so go full-out on those demo accounts to get a feel for it!


    Happy trading!


    Bjorn.

  10. #10
    Legendry Member Michael Hodges's Avatar
    you are right, it is possible for some people to make anything work for them, no matter that most agree in the case of Martingale that it is inherently flawed. Sure, you might do OK in the short term but you will eventually hit a streak that will wipe you out... plus, it's barely more than a break even game, you're playing Russian roulette with your money to recover a loss and make one win when you could just trade fixed amounts and control losses and maximized profits (this means profits that are consistent and grow as your account grows).

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