Well it’s certainly been a very long time since the last post and all because I’ve been mega busy with house moving for the last two months or more. I have also been trying to trade with limited mobile internet signal, which has now finally gone live 2 months after ordering!! Thanks British Telecom!

Due to moving home and running round like a crazy person I haven’t followed the market half as much or been hanging out on Profitly as much as I would have liked to, or even made a single penny stock trade since my last! So what have I been doing in this time gap?! Since the January effect the market has slowed down somewhat and is pretty dull at the moment or is it?!

I have said this before, but I will say it again… It does NOT MATTER which direction the market is heading as there is money to be made on the stock market every single trading day. Yes there may be fewer opportunities at times, but they’re always there. So don’t listen to the media hype when they say we’re in a bad market as there are always opportunities to make quality trades every single trading day. You must however ALWAYS go in with your own thesis and trading plan as well as adapt to the market outlook.

So I am finally living in my new home, but still unpacking and doing the furniture thing with what goes where and what to buy.

Anywaaaaays besides all this I have also taken a little detour into the Binary Options market which has kinda been given a bit of a scamy and shady background, due to all the dodgy and unregulated brokers that are available for people to trade with! If you do enough solid research though, you will find the knowledge you need to make serious dough more safely!! Or I can just show you here to save you all the hassle and time……So lets crack on with the shoooooow!……

I Am Testing Out Low Risk Binary Options!

So let me show you what I’ve discovered in the crazy world of Binary Options. Kaching Kaching!!…

As mentioned in the previous post, I have attempted Binary Options in the past before, but simply had no clue as to what I was doing with regards to technical analysis or even a plan or structure, other than coming up with my own trading belief! FAIL is all I can say! Haha!

It is commonly known that most binary option brokers are not legitimate and will most likely take your money and shirt to the cleaners! I think that because of the simplicity of how binary options are portrayed to look, meaning all you have to do is predict which direction the market is heading correctly in a given time period, most traders end up losing money because of this!

Let me explain: It really does baffle me as to why and how there are so many dodgy brokers out there for this niche as surely most of them should be illegal, but then again welcome to the world and future of the internet age!!

Binary Option brokers really do market themselves very heavily to how simple it is to trade binary options, but in actual fact there is very little difference in how to trade them compared to trading normal stocks and shares with regards to Technical analysis and price action.

Since I have taken to the penny stock world by learning from a true master of the game that being of course professor Timothy Sykes, I have done nothing but grow with confidence and have a much better understanding of how to trade decent set ups as well as having the balls to adapt to the market and take on other financial instruments!

Why I’m Also Trading Binary Options Now

As lucrative as the stock market is and especially with trading penny stocks, the down side however is sometimes you can be waiting for days or much much longer for the best set ups to appear. Since I am still a beginner to the stock market game, I do need to gain mileage and experience to figure out what works best for me.

As I am at the early stages of testing still, I need to find out what works best for me and in order for this to happen I need to have plenty of scenarios where I can test out different tools and strategies.

Yes there are other different fundamentals that come into play when trading normal stocks compared to currency pairs, but I am mostly testing out different trading strategies based more so on technical analysis at this point.

So with everything that I’ve learnt from Timothy Sykes and various other books along the way, I am putting to practice everything it all to the test and refining what works best along the way as well as seeing what is best to avoid!

I could have chosen to trade currency pairs with a normal forex trading account or spread betting account, but I have chosen to trade binary options because the risk levels are much much lower.

If there’s one important element I’ve learnt with the stock market, it’s keeping risk levels at an all time low.

DON’T EVER RISK DISASTER BY PUTTING YOUR WHOLE ACCOUNT AT RISK!!

Through trading penny stocks I quickly realised that I don’t like taking big risks or gambling on hunches or hot tips!

I like small low risk trades and great set ups where the trading direction is far more predictable.

With Binary Options you are either right or wrong about your prediction, so you either have a winning trade or a losing one, it’s that simple.

As long as you have a winning percentage ratio of at least 60% as the worse case scenario, you can grow your account consistently with discipline and structure.

So if I was to place a trade with the prediction of the AUD/JPY currency pair, and I was to predict that it’s going to go up in value with a risk of only $10, then the very worst that could happen if I was dead wrong would be to lose $10 and $10 only!

Trading currency pairs with a normal forex broker can cost you your shirt and a lot more if you are wrong!

There are good points and bad points with binary options just the same with any financial instrument that you choose to trade!

These Are The Main Benefits Of Trading Binary Options:

• You can start your account with less that $1000 with with the right broker
• Low Level of Risk with how much money you can lose in any one trade
• Easy to get into without having to know about any fundamentals of a company
• Lots more trading opportunies available compared to trading normal stocks and shares
• You can trade almost 24/5 as opposed to 9:30am-4:00pm

These Are The Drawbacks Of Trading Binary Options:

• You MUST be very disciplined with how many trades you take every day
• Easy to get sucked in to over trading
• You MUST trade with a regulated broker or risk never seeing your money again!
• Once you’ve executed your trade you generally have to wait for the contract to expire for a result!

Trading Is A Marathon, NOT A Sprint!

I can honestly hold my hand up and tell you that trading the stock market or any financial instrument for that matter is definitely NOT for impatient people! You have got to be disciplined and systematic in your approach to how you trade or you will most likely lose your entire account!

Like I said before, money is NOT the root of all evil, GREED IS!!

I have made many mistakes approaching this game and continue to do so, but as long as I learn from my mistakes and keep documenting my trades, I can continue to develop my own technique and master the game of trading the financial markets constantly and effectively.

There are times where it’s easy to wish a 9-5 job is the better option, but in the long term of things I am after the ultimate goal of freedom where I don’t need to EVER work for anyone but myself and I can help others where and when I want to.

On A Final Note

Now that I finally have full internet access again, I can start to progress and do things properly as opposed to relying on mobile signal coming and going which makes it very unreliable to trade effectively!

So while I have been testing out what works with a virtual account I have also started with a tiny real money account of $1,300 now, but purely to get a feel as to how I go about binary options successfully. So lets see what I can do with it and see if I can grow it and test the emotional skills of discipline. Will I succeed or will I Fall down and have to get back up?! Either way I will reveal all very soon be it good or bad trades.

While I continue to test out various strategies with binary options as well as penny stocks I will also attempt other instruments along the way, but for now I need to master these two first before I indulge into bigger things.

I will document and share what works best with what I am now calling “The Trading Experiment“, so feel free to check it out and learn from my successes as well as my mistakes. I am in the process of putting this page up so stay tuned to see what my results look like…