How I supplement my income with binary trading
When binary trading first came out, I didn’t really believe it. I mean, ads were pompously promoting insane returns on investment. Who could possibly believe that you could make 70 to 90% of your investment back on a single trade?
However after a few months of getting these ads right in my face, I decided to give it a try. After all, if I risked a small amount I couldn’t lose more than I deposited so I had full control over it. So there I went, I pulled out my credit card and deposited $100.
My first experience trading binary options
At first I didn’t really know what to expect. I had all sorts of bonuses which made it virtually impossible for me to lose the first few trades I placed. It was fun. It felt a lot like playing slots, which is probably a bad thing.
After a week or so I decided to start looking around for strategies and really dig into the math that surrounds binary trading. At this point I had made about $20, which was fun but obviously not enough.
Once I found a working strategy, after a few days of testing it at low risk trades ($1/trade), I realised I could actually make some decent money with this!
How I grew my income with trading
As soon as I realized the potential in binary options, I decided to deposit a bit more (about $500). This was just so I could place trades with half decent size and actually make money.
I grew my account over the first few months and opened a few more accounts with different brokerages to maximize my returns, there were a few hick ups with some untrustworthy brokers but once I found good brokerages that I worked well with my confidence grew and I started to make a comfortable living from trading every month. My schedule consisted of waking up, grabbing a cup of coffee, analyzing the market and placing anywhere between 2 and 6 trades around 9am.
The trades usually expire 4 hours after I place them, so I just sit back and manage the risk. ( basically just hedging trades that go against my pre-plotted support/ resistant levels) Whats nice is that I can work from my phone if I’m out and about and once my trades expire I just rinse and repeat. Having an abundance of time to do what I want when I want is truly the greatest reward from being a successful binary option trader.