Open trading account 
Some months ago I got an advertise in my inbox and went to check it out. I registered to see what the trick is – Binary options. Then my phone started ringing for weeks, numerous and endless talks about opening a real account. Since I see myself as a cautious trader, bidding up or down seemed like pure gambling. If I wanted to earn money like that, I better went to Las Vegas and put all on red.
Then I saw Dukascopy Fundamental Contest! Since my economics knowledge is limited and not so wide, my analysis of the fundamentals was based on NOT trading before big news. It costed me real money more than once, mostly because of lack of time, impatience and greed.
So I thought this is a good opportunity to ‘guess’ based on my knowledge and opinion without losing money
The idea of the fundamental analysis contest is not gambling up or down. Maybe it looks like a fast way of making money for those who are into binary options. And I am not trying to say that those who trade ‘normally’ are real traders, and binary options traders are gamblers. If money can be made both ways, why not?
However, the tricky part is that, as always, two things can happen to the trend – continuation or reversal (shocking, I know). It seems like we forget one thing that usually happen before big news – an extreme fall or rise of the price hours or minutes before the news release. Therefore, since we have a time frame of 10 minutes after the news release, the price can go in unexpected ways and then reverse after that. That was my big success with the GBP a couple months ago with a surprising GDP – price going wild for a few minutes then going back to normal. On the other side, the price of gold stumbling 10% in a couple of weeks cost me a great deal with my favorite – AUD. Therefore, I try to take that price move in consideration of the prediction – does the price usually go wild before the announcement or it slightly moves after the news. Of course, do not forget that not only the events in the contest occur, and check the whole calender as well. Sometimes several indicators are published in the same time, often with different results. In addition, other news reflect the price move before this particular event you are looking at.
I saw one post in another trading community about Economic Calender with usual hours of new release for exchanges worldwide with a Caps lock warning – LEARN THIS BY HEART OR YOU WILL LOSE EVERYTHING
To return to the beginning of my post – Binary options are based on ‘opening trades’ with a prediction of bull-bear within the time that you set. I had promises that I will receive a proper training, which will give me a minimum 20% profit a month, trades of 100% profit instantly. And I would like to see if anyone has an idea of such making profits.
I would still rather go to Vegas. Or rob a bank.
Then I saw Dukascopy Fundamental Contest! Since my economics knowledge is limited and not so wide, my analysis of the fundamentals was based on NOT trading before big news. It costed me real money more than once, mostly because of lack of time, impatience and greed.
So I thought this is a good opportunity to ‘guess’ based on my knowledge and opinion without losing money
The idea of the fundamental analysis contest is not gambling up or down. Maybe it looks like a fast way of making money for those who are into binary options. And I am not trying to say that those who trade ‘normally’ are real traders, and binary options traders are gamblers. If money can be made both ways, why not?
However, the tricky part is that, as always, two things can happen to the trend – continuation or reversal (shocking, I know). It seems like we forget one thing that usually happen before big news – an extreme fall or rise of the price hours or minutes before the news release. Therefore, since we have a time frame of 10 minutes after the news release, the price can go in unexpected ways and then reverse after that. That was my big success with the GBP a couple months ago with a surprising GDP – price going wild for a few minutes then going back to normal. On the other side, the price of gold stumbling 10% in a couple of weeks cost me a great deal with my favorite – AUD. Therefore, I try to take that price move in consideration of the prediction – does the price usually go wild before the announcement or it slightly moves after the news. Of course, do not forget that not only the events in the contest occur, and check the whole calender as well. Sometimes several indicators are published in the same time, often with different results. In addition, other news reflect the price move before this particular event you are looking at.
I saw one post in another trading community about Economic Calender with usual hours of new release for exchanges worldwide with a Caps lock warning – LEARN THIS BY HEART OR YOU WILL LOSE EVERYTHING
To return to the beginning of my post – Binary options are based on ‘opening trades’ with a prediction of bull-bear within the time that you set. I had promises that I will receive a proper training, which will give me a minimum 20% profit a month, trades of 100% profit instantly. And I would like to see if anyone has an idea of such making profits.
I would still rather go to Vegas. Or rob a bank.