Learn From My Mistakes

This is a discussion on Learn From My Mistakes within the Fixed Odds & Binary Betting forums, part of the Markets category; Hello everyone, I think a little intro is in order before I lay down the meat of the thread - ...

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Old Jul 18, 2016, 9:01am   #1
 
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Joined Jul 2016
Learn From My Mistakes

Hello everyone,

I think a little intro is in order before I lay down the meat of the thread - So I've been in the Binary field for the past ten years, I traded, I lost, I won and obviously, I've been scammed. Overall, I've been with about 7 Binary companies so far, lost around $1000, out of which $250 were outright scammed away from me.

I'd like to share a couple of tips with you, to make sure that even if you do end up going with a Binary company like Skyline Market or Tradorax or whatever, you'll know what to watch out for and how to play your cards (or funds) correctly to max out profits, or at least so you won't come out flat broke.

First off, never, ever, take a binary trading robot. I'm not saying they're 100% loss, but I am saying that we' as traders, need to keep as much control as possible over our accounts, trading robots take that away - they trade when we're at work, when we sleep and so on, this could lead to a situation where a robot could generate up to $2000 of profits on a single day and lose it the next, you won't even know about it. This sort of thing happened to me on Skyline Market, I lost around $1700 USD before I picked up on what was going on, stopped my losses and managed to win back some money.

Second, play their game - They want you to send documents? Send the documents. Yes, it sounds fishy, it screams identity theft, but let's be real here guys, we already gave them our credit card details, if they were outrigt theives, they would drain our accounts dry. They can't, they have to get our approval for the investments. The more we play into their game, the better our chances, even with shady companies, to get money out. Limit their ability to tell you "No, we cannot return the money because X Y Z on our T&C", make THEM have an issue, not you. Luckily, I haven't had this problem with my current broker on Skyline, but I'm keeping my eyes open just in case.

Third - DO YOUR RESEARCH. Us traders, we like to talk, and we talk a lot. Get online and find some reviews on whatever service you want to sign up with. Dig up trash about them, know what you need to avoid and play your funds the way you want to so you can make sure this whole Binary thing will turn up a profit for you.

Thanks for sticking through this long read and I hope some of it helps some of you guys or girls.

Let's have a good profitable week!
MrBigBucks is offline   Reply With Quote
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Old Jul 19, 2016, 2:00pm   #2
 
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Joined Nov 2015
Quote:
Originally Posted by MrBigBucks View Post
Hello everyone,

I think a little intro is in order before I lay down the meat of the thread - So I've been in the Binary field for the past ten years, I traded, I lost, I won and obviously, I've been scammed. Overall, I've been with about 7 Binary companies so far, lost around $1000, out of which $250 were outright scammed away from me.

I'd like to share a couple of tips with you, to make sure that even if you do end up going with a Binary company like Skyline Market or Tradorax or whatever, you'll know what to watch out for and how to play your cards (or funds) correctly to max out profits, or at least so you won't come out flat broke.

First off, never, ever, take a binary trading robot. I'm not saying they're 100% loss, but I am saying that we' as traders, need to keep as much control as possible over our accounts, trading robots take that away - they trade when we're at work, when we sleep and so on, this could lead to a situation where a robot could generate up to $2000 of profits on a single day and lose it the next, you won't even know about it. This sort of thing happened to me on Skyline Market, I lost around $1700 USD before I picked up on what was going on, stopped my losses and managed to win back some money.

Second, play their game - They want you to send documents? Send the documents. Yes, it sounds fishy, it screams identity theft, but let's be real here guys, we already gave them our credit card details, if they were outrigt theives, they would drain our accounts dry. They can't, they have to get our approval for the investments. The more we play into their game, the better our chances, even with shady companies, to get money out. Limit their ability to tell you "No, we cannot return the money because X Y Z on our T&C", make THEM have an issue, not you. Luckily, I haven't had this problem with my current broker on Skyline, but I'm keeping my eyes open just in case.

Third - DO YOUR RESEARCH. Us traders, we like to talk, and we talk a lot. Get online and find some reviews on whatever service you want to sign up with. Dig up trash about them, know what you need to avoid and play your funds the way you want to so you can make sure this whole Binary thing will turn up a profit for you.

Thanks for sticking through this long read and I hope some of it helps some of you guys or girls.

Let's have a good profitable week!

Hi MrBigBucks.

your first point is spot on. I do not trust those robots. I mean, we came here to trade and try and learn as many trading methods as we can so what is the point of letting a robot do it for us?
At first I did use the robots because that is what my broker recommended. Of course, after the robot lost me a few K's I learn the hard way - never to let a robot trade for you just like you will not let a robot read a book for you.

As for your second point about playing the game, I could not agree more. At my first year I wasted so much time and anger trying to get my money out without going through their verification process. Wow, that went really bad and I ended up leaving this firm I was trading with (I can't remember the name). After trading with a few more brokers I realized they are all asking for this verification process. Obviously I ended up sending all the docs. and you are right - once you play their game and do the verification you are good to go and withdrawal whenever you like so that is a great point!

You got everything summed up in one sentence: "do your research". Do not just trade with who ever is offering the bigger bonus, check the small details!


Thanks dude!
Aaron Cole is offline   Reply With Quote
Old Jul 19, 2016, 3:32pm   #3
Joined Jun 2016
any reason u choose binary options over forex? I hear lots of scams in binary options
Aiman is offline   Reply With Quote
Old Jul 20, 2016, 10:25am   #4
 
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Joined Jul 2016
MrBigBucks started this thread Hey Aiman,

One of the reasons I chose Binary is that I really like the concept of win or lose, there's no middle ground, I either scored big or screwed the pooch.

The other reason is the big wins, my current broker, Skyline, gives amazing payouts and to be honest, I'm a sucker for watching big green numbers on my screen
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Old Jul 20, 2016, 11:06am   #5
 
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Joined Mar 2016
Quote:
Originally Posted by MrBigBucks View Post
Hello everyone,

I think a little intro is in order before I lay down the meat of the thread - So I've been in the Binary field for the past ten years, I traded, I lost, I won and obviously, I've been scammed. Overall, I've been with about 7 Binary companies so far, lost around $1000, out of which $250 were outright scammed away from me.

I'd like to share a couple of tips with you, to make sure that even if you do end up going with a Binary company like Skyline Market or Tradorax or whatever, you'll know what to watch out for and how to play your cards (or funds) correctly to max out profits, or at least so you won't come out flat broke.

First off, never, ever, take a binary trading robot. I'm not saying they're 100% loss, but I am saying that we' as traders, need to keep as much control as possible over our accounts, trading robots take that away - they trade when we're at work, when we sleep and so on, this could lead to a situation where a robot could generate up to $2000 of profits on a single day and lose it the next, you won't even know about it. This sort of thing happened to me on Skyline Market, I lost around $1700 USD before I picked up on what was going on, stopped my losses and managed to win back some money.

Second, play their game - They want you to send documents? Send the documents. Yes, it sounds fishy, it screams identity theft, but let's be real here guys, we already gave them our credit card details, if they were outrigt theives, they would drain our accounts dry. They can't, they have to get our approval for the investments. The more we play into their game, the better our chances, even with shady companies, to get money out. Limit their ability to tell you "No, we cannot return the money because X Y Z on our T&C", make THEM have an issue, not you. Luckily, I haven't had this problem with my current broker on Skyline, but I'm keeping my eyes open just in case.

Third - DO YOUR RESEARCH. Us traders, we like to talk, and we talk a lot. Get online and find some reviews on whatever service you want to sign up with. Dig up trash about them, know what you need to avoid and play your funds the way you want to so you can make sure this whole Binary thing will turn up a profit for you.

Thanks for sticking through this long read and I hope some of it helps some of you guys or girls.

Let's have a good profitable week!

MrBigBucks,

You have some good points there. I learned everything you mentioned the hard way and I think if 1 trader will benefit from this it is worth it. It is very tempting to use the trading robot when you are a beginner, but as you go and learn new trading methods you want to practice them yourself, not let a robot guess and trade randomly.
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Old Jul 21, 2016, 1:41pm   #6
 
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Joined Apr 2016
MrBigBucks,

Thank you for this post. I believe a lot of beginners will find this info. very useful and you might even save as few poor souls...
SamuelClark is offline   Reply With Quote
Old Jul 23, 2016, 5:03pm   #7
 
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Joined Jul 2016
MrBigBucks started this thread That's the idea, guys. Binary is a tough lady, but with the right mindset, we can get her to make some money for us.
MrBigBucks is offline   Reply With Quote
Old Dec 3, 2016, 10:48pm   #8
 
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Joined Dec 2016
it really is all about research. just like yourself, i learned the hard way. if i was a beginner who just started trading, i'd find a lot of use in your words
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