Friday, February 22, 2013

My first experience with FOREX

The way of the gambler

It was a ordinary day, I was on the Internet ...again. Surfing around, watching some videos on YouTube looking for ways to make some easy money. I came across this video review about binary options. It show how easy it was to earn money just by clicking a button.

You had two options to click: up or down. It was possible to take an option in 10 minutes or 60 seconds. All seemed so easy to do and so I took a change of joining this kind of Forex trading system.

The video showed that it could be done with the "Banc de Binary". Out of curiosity I registered myself to the website and added my personal mobile number. Without any knowledge of trading I tried to educate myself on several sites. Then I got this call from a guy at Wall Street (if this was really the case) He "wanted" the help me make some money, with some kind of tip he had at a certain time. He sounded really convincing and so I deposited my first money on the account(€250). It took more than 5 days to clear, because I wired the money through my normal bank account.

I was testing out some of the modules and slowly I was winning some, losing some. It was with taking some gambles and following the charts that I reached €1132.

At this moment I should have cashed it out, but on an afternoon, still tired from the day before, I traded to gain more. This was the begin of a big mistake. Gradually my equity shrank at a rapid rate. I was going for the breaking point, but this never came. Trying to recoup the loss I've made, I started to invest big money with the result that the high equity that was won, lead to zero.

I was so sick in my stomach about the loss. The failure was from so great that my emotions went berserk.