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  1. #1
    Solid Member Zanadu's Avatar

    Request some suggestion on a New Trader !!!

    Hi Friends,

    I am a new aspiring trader !

    But I have done some short stints with 3 brokers and were unsuccessful.

    With my background and the need to make money for a living (I do not find
    any better options due to the situation I am in), I choose to be a BO trader
    and I think I made my decision so solid. I mean I do not want to leave and I
    WANT TO BE A SUCCESSFUL trader in the not-so-far future.

    I traded with 3 brokers so far and it didn't go well. I am not blaming anyone,
    but my lack of discipline. At times I tend to over-trade which wipes out my
    capital most of the time. Now I think I learned the lesson and promise I would
    behave well in future !

    I read lot of columns, articles, materials, YouTube (off course I do understand
    most of them are not so trustworthy)because I have lot of time. Recently I
    started to read and learn from "School of Pepsology" and I think its a great
    resource (?).

    Now I want to register with OptionPair and I found some good reviews and
    I also found some bad reviews of this broker. Could anyone share some
    thoughts about this broker if anyone have traded with them earlier.

    I would very much value your suggestions, opinions and feed-backs.

  2. #2
    Moderator Kolyo's Avatar
    Hi Zanadu,

    Welcome to CommuniTraders!

    That’s great we have another aspired trader in our binary trading community. You will find here all the necessary help to gain knowledge and to master your trading skills. I don’t think it is good idea to start immediately trading with real money before you gain some demo experience, but if that’s not what you want start with the lower possible risk, i.e. the minimum amount per trade till you feel that you know exactly how to control your risk exposure in different situations. I am not sure what is exactly your experience with your previous brokers, but if you really want good and reliable broker, check our recommended brokers section and read the reviews of the brokers. Do not blindly trust on any advertisement or broker site, because the reality could be different than the presented terms and conditions. Finally after you selected your preferred broker it could be a good idea to chat with their representative and to ask all the questions you think are important for you.
    I wish you successful trading and if you have any questions we are here to answer you!

    Best regards,
    CommuniTraders Team

  3. #3
    Junior Member
    Hi Zanadu and Welcome
    I could share my experience with you. Started a year ago, firstly with UBinary, but I didn’t like much their support and than I switched to StockPair, and have no complains since than. It is really very important to select your broker among the best ones and you will have no problem with trade executions, withdrawals and support.

  4. #4
    Specialist Member LesterK's Avatar
    Hi Zanadu,

    It is very appealing to trade for a living, but that is very hard to achieve. I think there are very few traders which don’t work anything else and earn their money only from trading. It is possible for sure if you are absolutely dedicated and straight forwarded, but it need a lot of knowledge and several years of experience and not on the last place you need considerable capital to trade, at least 5-10K or even much more if you are more conservative with trading. So you first goal have to be to profit from your trading and not to trade for a living. Only this way you will be psychologically calm and will be able to go ahead.

  5. #5
    Legendry Member Michael Hodges's Avatar
    Sounds like you are counting on the huge returns promised by many brokers, that makes trading and learning to trade very difficult. it takes teim to get good enough to profit from binary on a regular basis.

  6. #6
    Solid Member Zanadu's Avatar
    Hi Friends,

    Thank you all for giving some VERY VALUABLE advises. Frankly speaking I will take into
    consideration of everyone's advise, because I could smell they are sincere and frank.

    I am grateful for having found a good forum where I can rely on. Because I researched
    many sites and I have noticed most of them are biased and I do not take them

    Keep up the good work and you are doing a great service to the BO trading community.

    By the way I have ENROLLED in your school !!! Yesterday was my first day !

  7. #7
    Administrator Martin Kay's Avatar
    Did you mean - School of Pipsology? (: Babypips is great, but it's about Forex. So better if you start with trading school, and as I can see from your latest post - you found it.

    Few things - I don't Necessarily believe a demo is must before trading
    find our recommended Binary Options brokers here
    School - already found it, goodluck my friend!


  8. #8
    M.J is offline
    Veteran Member M.J's Avatar
    Good to see a highly motivated trader.
    Usually new traders show frustration after making loss. But you r still motivated to continue this journey which is good. It wont be so easy though but you r in right direction.
    Keep us updated about your performance when you make new account.

  9. #9
    Solid Member Zanadu's Avatar
    Hi Friends,

    Once again thank you for your experienced insights.

    Yes Martin, Its Babypips. As you said 90% is about Forex and the rest for BO.
    I found your school more relevant for me.

    Hi MJ. Thanks for your encouraging words. My plan is to start an account with Optionpair
    and also to buy signals from Updown signals. I will very slowly go with those signals and
    in the meantime I will educate myself. I shall keep the performance updated in this column.

  10. #10
    Veteran Member hchandra's Avatar
    Hi Zanadu,
    motivated to see how you won't give up to get profit from trading, here you can find lot of veteran trader who already passed hard time in trading and found their way to trade,
    stick with them and lesson, also keep trading with common sense, managing risk and doing trade base on systems you believe profitable with discipline.
    My suggestion, "all things that sounded to good to be true, maybe not always true", brokers usually try to attract people with misleading advertisement.
    Have steady source of income to maintain your expense and put the burden out of your trading that will help very much.
    Again, wishing you success.

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