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  1. #1
    Rookie Member corliz's Avatar

    Hi from Cape Town South Africa !!!

    Help

    I hope to learn lots about Binary options. BUT I must refrain from being negative.

    I have been busy with Forex and Binary trading for about 5 years. For about a year semi full time. In front of my computer for 10 hours per day. Trying everything, loosing a lot of money. I still have to find a honest person, a strategy that works, a system you can trust, a indicator that works, a signal service you can follow, a account manager you can trust in my 5 years. I have tested them all. Go on any forum and you won't find a single system, strategy, robot that is completed and working. Everything is still work in progress. I have been on many platforms that offer mirror trading. I cannot find anybody that has been consistently successful for a reasonable period, even 2 years.

    I have taken a demo account at Binary.com from $300 to $125 000. Taken another $300 to $65 000 and taken another from $10 000 to $1 million. BUT when you do it on a live account you loose everything. Why? I don't know. At the moment I double a $500 demo account every 10 days. It stands at $2 166 in 20 days. I keep record of every single trade I do in a spreadsheet. Do exactly the same on a live account and I wipe it in a few days. WHY?

    Why I don't just give up, I don't know.

    I have got a theory:
    For you to buy a currency someone must be willing to sell it. Is it correct?

    The big guy's in the industry need liquidity in the market...... currencies to buy or buyers that wants to buy when they are ready to sell. So my theory is that they started this industry using the small guy, like me to provide the liquidity they need. They manipulate us with systems that don't work, with robots that don't work ..... and and and ....

    I am sitting here feeling that I haven't learned anything, yes anything, in 5 years. YOU WILL EVENTUALLY LOOSE ALL YOUR MONEY - That is my belief.

    OR maybe forex and Binary is a virtual market. It is not the real thing driven by supply and demand. Random like gambling. PURE LUCK OR GUT FEEL.

    In the meantime I will play with my demo account with the belief that it will work if a have fairly large sums to invest. You see it is like an addiction - hehe - almost there just need this or that to happen. hehe. In the last month I have wiped 3 small accounts by trusting "reputable" scam review sites and account managers who promised to show me that they have the secret. they said "just give me a chance to prove to you" because I cannot understand why they are still working for a boss if the have the holy grail? I get phone calls from them 3 times per day.

    I really hope that I will not be banned because of my feeling (negativity) I expressed. Maybe this forum can prove me wrong? Maybe a honest person that can point me in the right direction.

    Don't worry! I will not commit suicide! Hehehe. I am a very positive believing person.

    Kind regards

    Neels

  2. #2
    Legendry Member Michael Hodges's Avatar
    Welcome aboard mate, hope you find what you need. you will not be banned for being down on the market, talking to some others here may help you get back on your feet. Good luck and keep on learning, profits will come.

  3. #3
    Legendry Member Okane's Avatar
    Hey. Maybe you are spending too much time on demo accounts.
    There are no emotions involved there.

    Make a billion dollars on a demo, it doesn't matter. But if you can even make 5% on your investment
    on a live account then you are good. Demo trading is a good start but sooner or later you need to just
    quit with the demo and never look back and focus on live trading.
    Having a good broker that pays out is also important.

    "OR maybe forex and Binary is a virtual market"

    Yes, binary options trading is not an investment, is betting ON the market and it is
    virtual. Didn't you know this after 5 years? There is no actual transaction.

    I bet up: I win, you bet down you lose, I get your money and the broker gets his share. That's all there is to it.

    You are right about strategies, systems and other secret magic stuff. Of course they are lies and BS.
    Only thing that will work is patience and understanding of how to read the charts and get personal skills.
    No indicator in the world will make you money.

    Anyway, welcome to the forum!
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  4. #4
    Rookie Member corliz's Avatar
    Okane, you telling me that all trades are a gut feel? Surely you need a strategy or a system based on indicators to trade. If it is only to take emotion out of the market.

    Another comment from someone in another thread here:

    Honestly, I'll try anything. I'm a noob. My first two weeks went great. I almost doubled my account. Then I lost it all. Then I lost more. then I lost some more. Then I lost quite a bit more. Every time I added funds to my account, I could build it up, more than double. Then it all slipped away. I'm almost $2,000 in the hole right now. I'm desperate to break even. In the next month or two, I'd really like to finally get out of this hole and earn a little profit.

    Has anybody made money for longer than 2 tears?
    Last edited by corliz; 07-16-2016 at 05:57 PM.

  5. #5
    Legendry Member Okane's Avatar
    Quote Originally Posted by corliz View Post
    Okane, you telling me that all trades are a gut feel? Surely you need a strategy or a system based on indicators to trade. If it is only to take emotion out of the market.

    Another comment from someone in another thread here:

    Honestly, I'll try anything. I'm a noob. My first two weeks went great. I almost doubled my account. Then I lost it all. Then I lost more. then I lost some more. Then I lost quite a bit more. Every time I added funds to my account, I could build it up, more than double. Then it all slipped away. I'm almost $2,000 in the hole right now. I'm desperate to break even. In the next month or two, I'd really like to finally get out of this hole and earn a little profit.

    Has anybody made money for longer than 2 tears?
    Please click here to watch our YouTube channel, the price action playlist. That's how I trade.
    Of course there are strategies and good indies. But my point was that without
    market knowledge and experience they are not worth anything at all. That is something
    that neewbies don't understand. They want someone to point at a strategy that will
    start making them money the first day.

    Also, check out the members war room. There are lots of people we have helped.
    Newbies and advanced traders and you will find people who are making money or just beginners!
    It's better you see how they are trading!
    That's the problem with strategies alone, they might work well a month or two or a year but the soon
    as market changes you are screwed. If you understand price action you will just adapt to the market.
    Anyway just watch the videos you will see what I mean I have explained a lot there already.
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  6. #6
    Veteran Member Dan21's Avatar
    The markets are very dynamical. Thus, you can't just find a good (for the moment) strategy and expect it to work the same forever. In order to stay on the wave you must be dynamic too. You should adapt to different conditions and find the best way to react at a given situation (event, news, moods and so on). If trading was as easy as finding someone honest to show you the best indicator or a given "holly grail"-type approach to go over 50%, this Community wouldn't exist. Trading is a science. You need to have good strategies in your experience, but you also need to have a sense of the market and yes - a little personal relation to it. I think your 5 years of trading were not entirely a waste of time - the experience you gathered may not be the perfect possible, but it still made you understand some things better. Check the journals here on BOTS. Take a look at some more basic topics and see how our good pro traders make even. You'll see that trading can be very successful with the right approach towards it.

  7. #7
    Legendry Member willyw's Avatar
    Welocme on board, Corliz

  8. #8
    Legendry Member milos's Avatar
    Hello Corliz!

    Welcome to Communitraders!

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