Contrary to what we read on investment blogs and websites, the truth is that many people lose money, especially in the beginning. We are taken in by the features and benefits that they advertise and they tell us stories of how they made a profit quickly and easily. Here, I tell my story, a true story that happens to many others like me – how I lost money in binary options.
How I lost money in Binary Options:
The first time I traded binary options I lost money. I lost the entire account quickly, in only two days. I made several mistakes, the main one was thinking that it was easy and so wasn’t worth wasting time understanding and learning how to really trade. I quickly saw that it wasn’t really as advertised on the binary options websites and blogs.
How many times do we see advertisements about business or investments? How many times do they say it’s very easy? That you will earn a lot of money, without work, without effort?
But the truth is that later we don’t really come across many people that succeeded. And those that succeed, yes there are people who have actually had success, worked, struggled and devoted themselves to getting results.
I was led to think that it was really simple to win a lot of money easily.
The reality is that in about 48 hours I lost all the money I had in my account. The $200 that I deposited and the $50 bonus that I received.
On the first day, I placed 5 trades. I had profits on four and losses on one. It was excellent. I didn’t have to resort to any special strategy, only some knowledge that I had about trading. I became a fan of binary options. I thought it was easy. I had found the system that would make me rich.
On the second day, everything changed. I had losses on my first three trades. I insisted, with three more trades, and I lost again. It didn’t even occur to me that the way I traded the previous day might not be working today.
I lost the previous day’s profit quickly and was already losing money. After losing 50% of the money in my account, I didn’t even pay attention. I ended up trading without resorting to any special strategy without having spoken to someone who could help me. I thought that it was all a scam and that it wasn’t my fault I had lost my money; because I thought it was easy.
It was my fault that I lost money. I only thought of the profits. I didn’t think of the steps to make a profit. And everything in life requires training, dedication and persistence to achieve success.
There were some trades where it was clear I lost because I was trading with an unregulated broker and as such, I felt that there were some flaws in the platform that penalized me and resulted in losses on trades. With a good broker the orders probably would not have had the same outcome, because they would not have blocked like they did.
At the time, this market was not yet regulated. Today this situation wouldn’t happen, because binary options became regulated in 2012.
Currently I have positive results, but to get there I had to learn, and most of all, I was persistent and didn’t quit too early. I was able to understand that the error was mine, I couldn’t want to win without first learning properly. This long journey and experience allows me to, today, have the knowledge to pass on what I’ve learned to my students.
The success of the free mini-course (see the comments from students) is clear, and leaves me happy not only from the recognition I receive, but also from the opportunity to help those who, like me, believe that with hard work and dedication, you get results. Training based on the Triangle of Trading offers the student the opportunity to learn a lot more than a simple trading strategy.
If you want to really try to earn money with binary options be sure to see the Post Advantages of my mini-course.