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  1. #1
    Rookie Member

    can a newbie progress with no experience? !!!

    Was wanting some sensible pro seasoned and experienced Binary Traders only to please answer these questions.

    I have never dabbled in ANY of this kind of thing before I mean nothing to do with trading or what not in any shape or form whatsoever and am curious to delve into Binary Options as a way of making a little extra coinage on the side. I am aware of the insane amount of Binary scammer sites online and know its important to register with a legit authorised licensed broker and have yet to choose one. I know I would be foolish to think I could just start with zero knowledge or experience and expect to do well but what I really wanted a clear answer on this as I hear mixed opinions on people who do it. Some say you need a lot of experience and if you don't you might as well forget it or you will just end up bust whilst others say that what you don't know you slowly learn in time and get better. The point is can people who have no clue about how any of this works end up doing well if they have knowledge through learning in time?

    For all you pro's out there please tell me what the deal is with this and if many people who have never done anything like this before have been able to slowly learn the ropes and do reasonbly well.

    Thx.

  2. #2
    Master Member Okane's Avatar
    Hey there!
    Your question is the very reason we have the Members War Room thread
    and also the reason I do interview some of the members here in the forum (specially journal keepers)
    so you can see that everyone pretty much went through the same phases before starting to get the hang of trading.

    So go ahead, check out the members war room
    see how others got started and slowly began to wrap their heads around this.
    Learning how to interpret the charts can take some time from person to person it's relative and also depends on how much time you spend yourself.

    Then there is the psychology part - you can be great at reading charts but not stable mentally and blow your account or not have the guts to pull the trigger
    when your analysis are correct. So that last part is harder to develop and I think the "cure" is to start live trading one you have done a few months of demo first
    and once you know how to read charts. When you get to the mental phase, use proper money management, don't overtrade, do smallest investment positions possible until
    you have gained confidence.
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  3. #3
    Rookie Member
    I appreciate the reply Okane. Would you mind if I asked you a bunch of very basic Q's on how it works generally? it would help me understand a lot better.

  4. #4
    Master Member Okane's Avatar
    Quote Originally Posted by Quad234 View Post
    I appreciate the reply Okane. Would you mind if I asked you a bunch of very basic Q's on how it works generally? it would help me understand a lot better.
    Shoot. But I am pretty sure we have answered most basic questions in either articles or in the forum but ask anyway, if we have then I can link you
    to the answers . You don't know until you ask.
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  5. #5
    Rookie Member
    K thanks.

    Do you happen to know the most reliable trustworthy brokers which are regulated? (I am in UK btw)

    Is there usually a minimum amount of money you can put on trading each time or does it vary with each broker?

    if you trade... how much do you usually make on average each time you win?

    did you start with knowledge in trading etc or not? if you didn't did you learn it the hard way?

    Is this all just gambling?

  6. #6
    Master Member Okane's Avatar
    Quote Originally Posted by Quad234 View Post
    K thanks.

    Do you happen to know the most reliable trustworthy brokers which are regulated? (I am in UK btw)

    Is there usually a minimum amount of money you can put on trading each time or does it vary with each broker?

    if you trade... how much do you usually make on average each time you win?

    did you start with knowledge in trading etc or not? if you didn't did you learn it the hard way?

    Is this all just gambling?

    1. See recommended brokers, I use 24Option and think they are the best:
    http://www.binaryoptionsthatsuck.com...-brokers-suck/

    2. Brokers are different, see here:
    http://www.binaryoptionsthatsuck.com...iple-accounts/
    Terms and conditions vary, minimum deposit, minimum investment, maximum investment, payouts vary, expiries vary, support varies,
    platform varies, prices vary, reputation varies, regulation varies etc.

    3. 80-87% on my investment - depending on the asset I trade.

    4. I worked in a bank before but I didn't know about actual trading - had to learn the hard way but now we have this forum
    and everything you need is here and there are coaches and mentors like myself and diary thread I linked above so today most newbies
    get lots of things for free and if you ask me I would say this is borderline "spoon-feeding" hahah - at least if you compare to the "old days".

    5. Gambling. No - again look in the diary room or look at our YouTube channel which I myself started up and see my forecasts or trades, can you predict where the market is heading?
    If you can most of the time then how would that be gambling? Example:
    https://youtu.be/7KAfXBhM7lk?list=PL...jLnOndJ6V9axoR

    You can't predict the outcome of the market 100%, this is a business involved with high risks but eventually you can pick good trades MOST of the time and with proper
    money management and risk management you can come out winning. All these things are explained in the School, I suggest you read through the school before you do anything.
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  7. #7
    Rookie Member
    Yes I shall do this. Thanks a lot.

  8. #8
    Legendry Member milos's Avatar
    Welcome to Commmunitraders!

    As newbie you can test CT demo account.

    Happy trading!

  9. #9
    Senior Member Mick's Avatar
    Quote Originally Posted by Quad234 View Post
    Was wanting some sensible pro seasoned and experienced Binary Traders only to please answer these questions.

    I have never dabbled in ANY of this kind of thing before I mean nothing to do with trading or what not in any shape or form whatsoever and am curious to delve into Binary Options as a way of making a little extra coinage on the side. I am aware of the insane amount of Binary scammer sites online and know its important to register with a legit authorised licensed broker and have yet to choose one. I know I would be foolish to think I could just start with zero knowledge or experience and expect to do well but what I really wanted a clear answer on this as I hear mixed opinions on people who do it. Some say you need a lot of experience and if you don't you might as well forget it or you will just end up bust whilst others say that what you don't know you slowly learn in time and get better. The point is can people who have no clue about how any of this works end up doing well if they have knowledge through learning in time?

    For all you pro's out there please tell me what the deal is with this and if many people who have never done anything like this before have been able to slowly learn the ropes and do reasonbly well.

    Thx.
    Hi Quad234.
    I know you wanted pro traders to answer but I am a complete newbie as well. I joined this forum at the start of this year and only doing demo trades at the moment. I have read through the BOT School and started my diary. I must tell you it's not easy but everything is starting to come into place very very very slowly. It was all new to me from the start. There are times when I get frustrated with it all and think "how the hell am I going to get this". It's a slow process but rewarding with lots of practise and studying. I did read somewhere that it's the only profession where you don't need a degree and can be the most rewarding at the same time. Good luck and don't give up!!

  10. #10
    Rookie Member
    Quote Originally Posted by Mick View Post
    Hi Quad234.
    I know you wanted pro traders to answer but I am a complete newbie as well. I joined this forum at the start of this year and only doing demo trades at the moment. I have read through the BOT School and started my diary. I must tell you it's not easy but everything is starting to come into place very very very slowly. It was all new to me from the start. There are times when I get frustrated with it all and think "how the hell am I going to get this". It's a slow process but rewarding with lots of practise and studying. I did read somewhere that it's the only profession where you don't need a degree and can be the most rewarding at the same time. Good luck and don't give up!!
    I appreciate that Nick thanks for the inspiration the whole thing has me scared yet intruiged lol.

    Hey Okane.. is there another well trusted legit broker you can recommend other than the 24option one? I see the minimum amount you have to put to start there is wayyyyy too much (250) I was looking to gently start trying my luck eventually with only very small amounts until time passes and I get a better idea and handle at it before I start risking larger amounts.
    .

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