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G'day, noob here, tell me I'm dreaming

Discussion in 'Beginner's Lounge' started by Zedodia, Aug 31, 2017.

  1. Zedodia

    Zedodia

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    So I joined this fourm ages ago. Tried stocks and forex and options before. But could never grasp it. Dunno why but my brain told me to look at binary options again.

    So I found out a lot of BO brokers don't deal with Aussies anymore. I didn't do too bad on IQ options with their demo account a while back, but once on real money it felt like it was against me. But the best part was I only lost $20. It had $1 bets and $10 deposit.

    I can only find High Low as a regulated Aussie broker. And their $50 deposit and $10 bets.

    Anyone know a low bet broker? Or any tips or stuff to send me on my way?
     
  2. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    If you want to trade something innovative, why not try bit coin or etherum. At least they're liquid and right now mostly full of retail traders, so old fashioned TA actually works.
     
  3. Zedodia

    Zedodia

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    Fair call. I still kick my self for not getting into bitcoins earlier... or even now. I just don't know how to. Is there a good reputable Aussie place to trade them? I did use vantage fx a while back.
     
  4. Indoril

    Indoril

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  5. OmegaTrader

    OmegaTrader

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    1) 10 bets or 10% position size on binary options is not a reasonable long term strategy
    2) forex>binary>bitcoin. See the pattern?

    OTC markets are sold to retail investors in the hope that they will get rich. OTC price discovery is so much more difficult and retail traders can get taken for a ride in that sense.

    In my amateur opinion bitcoin has very limited fundamental value. There is no central price, no government protection and no regulation. It is a pure speculators dream, until the bubble bursts.

    The assets listed are not yield producing, in fact most of the assets are not even owned by the retail trader, they are all created between the broker and the retail customer like a bookmaker. Except bitcoin which I think one can own.

    Say this thing called the stock market has been only going up in Australia for about 100 years.

    Maybe the bull market will counteract commission and mistakes from picking stocks .

    Maybe that is why so many people passively invest.

    But who knows maybe the stock market will not keep going up if Australia does not do that well.

    But then there is always bitcoin or the next big thing I can buy into and get rich quick.

    Well there is always horse betting when that fails.

    Good luck
     
  6. Zedodia

    Zedodia

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    Not sure what your getting at there sorry. I know starting out is never a viable option but I want to try.
    CMC markets? Are they legit? Used to see endless ads for them making me go... suss. But I'll have another look.

    I just think binary could be a good option. Long not short periods.

    The stratigy I used last time was when a forex is going generally up, I'd wait for a drop then call, and usually it would continue to go up. Ie same for down.
     
  7. Zedodia

    Zedodia

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    Wow... ok CMC markets for binarys is confusing af.
     
  8. Zedodia

    Zedodia

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    So in CMC markets, countdowns are binary options. Also there is a minimum $20 bet. Damn. I wanted smaller to start. Although so far I've made profit in the demo account
     
  9. OmegaTrader

    OmegaTrader

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    What ??

    If you do the same thing the result will be the same.

    Without any edge or yield the commissions with destroy the money.

    That is if big positions sizes doesn't kill it first or the broker playing silly buggers.

    Meaning that the broker wins and the retail trader loses.

    and back to square one again
     
  10. Zedodia

    Zedodia

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    Sorry, it's all new to me in most regards. I'm not rich by any means, and don't have the Capitol to trade big investments to make decent profits. That's why (and I guess how/who it's marketed to) it looks most inviting.

    Ah brokerage, didn't consider that. Yes that can be a killer in small trades.
     
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