Online Trading Success Story

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Online Trading Success Story

There was one housewife that shared her success story on how she turned $130 into $16,700 within a period of 9 months. She and her husband were undergoing some tough time in their finance and they are having problem coping with the family expenses. Because of this, they are not able to finish the flooring for their kitchen and living room. The housewife did not have any day job and she spent most of her time at home looking after the kids.

Before she entered into binary options trading, her husband was first a trader and that occurred a few years ago. Her husband had purchased a lot of books to read and follow the news on Bloomberg every single day to learn as much as he could on binary options trading. Later, he decided to become a trader in binary options trading but he did not succeed in it just like most people. He was not a patient binary options trader and keep on trading again after losing an amount. He lost a lot of money in the process and did not make any profit at all.

When he gave up on binary options trading, he left $130 in his bank account and it was this time that the housewife asked him if she could trade on this amount. He did not believe that his wife would understand about the concepts of binary options trading and how it works. When she first entered into binary options trading, she did not have much experiences but she has good money management skills and she traded carefully. She was careful about the many scams that are occurring in the world of binary options. She often used the free time in her hand to practice trading and this has helped her to increase her experience while making money at the same time.

It turns out that he was wrong and his wife managed to grow the amount from $130 – $3,500 within a period of 6 months. This sum has already deducted all the losses she made binary options trading. She made mistakes which caused her to lose some money but she did not give up and continue to educate herself to improve her trading skills. The result is impressive given this is the first time she traded on binary options. She was able to bring the total of the account from $3,500 to $16,700 within a period of 9 months. With the money she earn, she did not waste any time in hiring the home improvement professionals to do the flooring of the kitchen and living room in the house.

Her secret to success is that she understand how to implement a few binary options strategies. She know how to draw the support and resistance lines on the charts for different types of assets and she understand how they react to the market. She learned that there is more profits to be made when the price gets even more volatile. I did not use technical indicators in the analysis charts in the beginning but she later learned that the RSI and MACD indicators are actually useful in my trading style.

Since then, she have often used these technical indicators in my trading and they have helped to boost by success rate. She did not just blindly invest the money into trading but she did her best in making herself knowledgeable by doing everything she could to make an accurate prediction. This include gathering economic data and performing analysis on the latest market trends. She has also done a lot of research on different types of assets.

She is happy that binary options trading has helped her get earn some extra income to supplement her family income. She was able to help her family’s income to reach an acceptable level. Now, her kids will not first go to their father when they need some pocket money but they come to her instead. She was happy that she get economic freedom just like many other traders who succeeded in binary options. Binary options trading has make her life turn around and she is recommend it to everyone else who is hoping to use it as a side income.

3 Phases to Fortune: A Day Traders Success Story

Back in my student days, I had a friend who was very passionate about one thing – looking at charts on his smartphone.

At the time, I still didn’t know what he was actually doing, but it kept intriguing me.

One day, as our lectures were just about to begin, John (not his real name) was, as usual, looking down at his phone and I asked him what all the charts were about.

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He invited me for a coffee and explained everything to me (yes, we missed those lectures.)

This is his story.

His First Steps as a Trader

John was trading stocks and currencies. He got interested in financial markets two years ago when he went on a trip and saw a group of foreign tourists exchanging money at an exchange office. He looked at the shiny LCD that displayed today’s exchange rates for major currencies – USD, EUR, GBP, CHF, etc.

Those exchange rates were changing each day he passed by the exchange office. One day the euro was up against all other currencies, which means that John would have received more of the domestic currency if he decided to exchange his money that day.

He explained to me,

At that time, he already had a good understanding of the stock market and decided to get his feet wet with trading. The next stop was opening a brokerage account.

Choosing a Broker

John didn’t know much about brokers, spreads, leverage, and margin at the time. All he knew was that he needed a broker to start trading. So he opened a brokerage account with the first broker he found on the internet. That was the first mistake he learned.

His first broker had high spreads and offered enormous leverage – leverage that blew up his first trading account. He said, he was focusing on very short-term timeframes, applying a dozen of technical indicators, and opening large position sizes early in his trading career.

“All those mistakes are common among beginners, and weren’t it for those mistakes, I wouldn’t have learned all the great lessons I know today”, he said.

The high spreads were eating a large portion of the profits of the few winning trades he had. He later found out that his first broker wasn’t even regulated.

Read:

Phase 1: The First Brokerage Account – Blown Up

It didn’t take long for him to blow up his first trading account. “Psychology plays an important role in trading”, he said, “I risked too much after a series of winning trades. I thought I had learned the game. In the end, I got a margin call.”

Looking from today’s perspective, overtrading and poor risk management techniques were the main reasons why John blew up his first trading account. He added, “Most traders lose their first account. It’s ok. I know where I’ve made mistakes and how to avoid them in the future.”

At this time I realised, I found his story very interesting and was glad that we missed our faculty lectures.

Finding a Mentor and Reading Books

After he blew up his first trading account, he closed his account with the first broker and started learning as much as possible.

He found a trading mentor online, had regular Skype sessions with him and bought a dozen of the most popular book on various trading subjects, including technical analysis, fundamentals, trading psychology, and risk management.

After I asked him whether he was thinking to quit after his first trading disaster, he replied “My desire to become a consistently profitable trader was too large. Quitting wasn’t an option. I knew I can do this, I just need some more time and a good trading mentor.”

Learning About Technical Analysis

John started to read about technical analysis and opened a demo account with another broker – this time he did his homework on brokers. He started to practice patience and discipline on the 1-hour and 4-hour timeframes, developed his first real trading strategy and applied crucial risk management techniques to all of his trades.

John learned that technical indicators are lagging the price and that they shouldn’t be used to enter into a trade, but only to confirm a trade.

He was focusing on price-action this time, identifying important support and resistance zones on the chart, learning about chart patterns, candlestick patterns (Steve Nison’s books were one of his favourites), and trend-following techniques.

This was the first time that he had a plan when trading. He didn’t jump into the market on unconfirmed trades, followed his trading strategy religiously, and always risked a small percentage of his trading account on any single trade.

Phase 2: The Second Brokerage Account – Break-Even

“After a few months of learning and trading on the demo account, I was feeling ready to go live again”, he said. He deposited funds into his second trading account with the new broker and started applying all the things he learned during the last few months in his trading.

Soon, he discovered that he was able to stay break-even in the market. He didn’t lose much, and he didn’t win much.

“I felt great! I knew it would take only a small tweak in my trading strategy to become profitable in the market.”, John said.

Unfortunately, one wrong trading decision later and he lost a large portion of his account. “I felt pressure to make a profit in the market. Even though I was break-even all the time, I decided to take a large bet against GBP/USD just minutes before an important market report came out.”

John learned the importance of trading psychology the hard way.

Phase 3: The Third Brokerage Account – Consistent Profits

John explained, “I was devastated. I ruined my trading account with one bad decision – it was so foolish. Why did I do that?” Fortunately, some funds were still left in his trading account, and he added some more to cover the losses of the GBP/USD trade.

“From that point, I don’t let fear and greed to interfere with my trading decisions. Trading is a marathon, and I want to stay in the game in the coming years,” John said.

He fine-tuned his risk management rules. “I was risking $1 to get $1, that’s why I was staying around break-even all the time”, he said. A simple tweak helped him to finally see consistent profits in the market.

“Always risk less than your potential gain, and leave your profitable trades running until your profit target is reached.”

John inspired me to become a trader myself. We still talk about the markets, share trading ideas, and discuss our trading journeys regularly.

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My Trading Skills® is a registered trademark and trading name of PMJ Publishing Limited. The material on this website is for general educational purposes only and users are bound by the sites terms and conditions. Any discussions held, views and opinions expressed and materials provided are for general information purposes and are not intended as investment advice or a solicitation to buy or sell financial securities. Any person acting on this information does so entirely at their own risk. Trading is high risk, it does not guarantee any return and losses can exceed deposits. My Trading Skills®, its employees and directors shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein. Trading may not be suitable for you and you must therefore ensure you understand the risks and seek independent advice. The information on this site is not directed at residents of the United States or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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Stock Trading Success Stories

Trading stocks and shares is simple and easier than many other traditional forms of trading. But, it comes with its own risks. If you search about trading online, you will find a lot of information and details. You will read about how many traders have have been scammed. You may be sceptical about signing up with a broker and starting your first online investment.

But let us tell you that if you make the right choice, trading stocks and shares will be a success for you. During our many years of trading, we have seen failures and success, but we have kept moving forward. The reason that we have never looked back are the success stories that we are going to share with you right now.

These are not only stories of real people, but they are real inspiration for so many traders. After reading these stories, you may also realize that trading can be your ultimate solution.

The Lucky Email for The Single Mom

The first story is about a single mom who had struggled most of her life to fulfil the needs and wants of her children. It was by luck or by chance that one day she received an email that was promoting a investing application. She had no experience in the field and neither did she have any knowledge about how it all worked.

The promises and claims that were made in the email looked very convincing and she knew she would be able to improve her lifestyle if it all was true. She didn’t dream about it. She just had a need to do something that would help her in life.

But before she opted for the application, she decided to research about it, read information online, visit forums and seek advice from online traders. With a small investment, she was able to start out. The best thing about this woman is that she did not depend on any system, but she made an effort to learn about how the market works. She knew knowledge was a key to success so she read online materials on trading, took training sessions, watched trading videos and did all that she could to become better at trading. Currently, she manage her household.

Trade Successfully Stocks and Shares by Following Our Detailed & Free Guide in This Article.

Mark – The Guy Who Quit College to Work From Home

The other story is about this guy named Mark who gave up his education to work from home. He spent several months looking for an opportunity and finally he found out about trading stocks and shares online. He did not get into trading without knowing anything about it. He researched and read all the information he could get his hands on about online investing and how he can be a successful trader.

One thing that he found out and always kept in mind was that the path to becoming successful in this industry was not easy and one of the main obstacles was the prevalence of scam sites and bots. He had to avoid being scammed.

After much research, he signed up with a reputable broker. He did not believe the hype that trading means becoming very successful. He knew such a thing did not exist so he kept his expectations low. He saw failures, but he was not discouraged and he also did not let emotions drive his decisions. All he focused on was placing the best trades online.

After months of trading, he has finally been able to attain success. He does not drive an expensive car, live in a mansion, own a yacht or earn millions. All this is far from being true. He takes care of his expenses and at the end of the day put some savings in his account. His experience has taught him that it requires knowledge, skills and experience to become a moderately successful trader.

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