My History With Binary Options
when i first started trading binary options, I wished there was ONE site i could go to and save myself TIME and MONEY.
Binary options is undoubtedly the most exciting and easiest method of trading the markets. It has its perks of executing quick profits of all sizes. Its appealing sense has attracted many traders around the world since 2008 and it was only a matter of time until I fell upon its glamorous spell.
I first heard of binary options trading through a random email i received back in 2009. Ive had always shown an interest in trading the stock markets, so i was immediately compelled to read what this “binary option trading” was all about. But of course there was no explanation as to what binary trading was exactly. It was more like a landing page to some binary brokerage platform which practically said “deposit and start trading”.
Just like many beginners out there, i had no idea what i was doing, and more importantly, where to begin. Back then binary options was already becoming popular and there were a few sites out there promoting trading “strategies”. Now let me just reiterate the term “strategies”. Compared to what i know today, these so-called “strategies” were a load of dog shit.
But of course, i didn’t know that back then. I searched the web for a few weeks until I made my decision on a ‘recommended’ broker from a list of one of the many emails i had subscribed to. Today more than 70% of brokers have a minimum deposit of $200 or less. But six years ago, i could only find one with a minimum of $500. To me that was a lot of money, but i thought to myself ” Screw it! I’m going to make more money anyway!”
To be honest i did pretty well at the beginning! The only correct piece of information that i knew back then, and is still considered a key fact in preserving your account, is Money Management. From this example, this basically means that my account had $500 so the maximum amount of each trade i made could be no more than $25. Generally speaking, the larger your account – the larger your individual trades can be.
So anyway, like I said, I did pretty well……..at first. Within the first couple weeks I took it slow and made over $300 profit. I thought “Cool! I got the hang of this!”. BEGINNERS LUCK! Back then i would only look at the moving charts that were on the brokers site and attempt to predict the fluctuating price rates. Of course my beginners luck ran out, and I ended up losing all my funds in the brokerage account.
To sum up my sob story, it all went downhill from there. I started singing up with other multiple brokers and losing more money. I even came across a so-called auto trader, that i would later come to regret, was just some bullshit money-making scam. I’m sure this is a story that many newcomers have encountered and can relate to when they first started binary option trading. As a result, a lot of people think the binary options business is a scam. — I know i did. Especially nowadays with the industry growing even stronger and more popular, there are lot more fraudulent brokers and money making scams out there. So its even harder to find something that’s reliable.
It took me many months of searching and a couple years to master some key points of binary options trading. It took me a while to find some Reliable Brokers that wouldn’t just shut you out, and even longer to learn some Real Trading Strategies to incorporate. A lot of trial and error and a lot more money (thousands) was lost before i learned.
This is why we, at PrestigeBinary, created a portal to narrow down a traders search. We are traders just like you looking for something trustworthy and efficient. We have come to provide a “Binary Options Trading Hub” of everything you will need to learn under one roof! We created this portal because when i look back to when i first started trading binary options, I wished there was ONE site i could go to and save myself TIME and MONEY. In our binary options trading portal you will learn about Trusted Brokers you can join, Auto Traders that have been proven to work, and Trading strategies. But more importantly, our BlackList of brokers and Scam services that you should stay far away from. We strongly believe that the information you find at www.prestigebinaryoptions.com will be useful to everyone in so many ways!!!!