Tuesday, 19 July 2016

Yesterday I did not go home.

Is it possible to make money by trading the markets as an individual? Clearly the answer is yes. Many people are doing it even though most lose their shirt. It cannot be easy or nobody would work for a living.

Yesterday I did not go home.

A photo posted by Richard Ford (@richard.ford) on

The first photograph is of a church, now overshadowed by a modern building. The second is a City pub frequented by a monistic community. God and mammon have been friendly rivals here for centuries.

In order to do this I decided to make everything as simple as possible to avoid 'paralysis by analysis'.

I opted for a dummy binary option account. Binary options simplify things wonderfully because one only needs to make a single choice- up or down? The question of when to leave the trade does not arise as the contract is for a set number of minutes determined when the trade is open.

It is also tremendously hard to make money this way because one cannot hang on to a trade until it comes good. If one is wrong- one is wrong and we must take the loss. The advantage to this arrangement is that it is not possible to commit the beginners error of running ones losses because we cannot admit our mistake.

Hardly anyone makes money from binaries because simplicity equals inflexibility. Binary traders may find that their trades are in the money thirty seconds before the close and in the money thirty seconds after- but out of the money when it really matters.

I scrolled through the various currencies available and noticed that 'cable' (British Pound v US Dollar) tended to swing back and forth like a metronome. All I had to do (I thought) was to time it correctly and I would be quids in.

I set my expiry to two minutes and did just this. Success! I was up by 85% two minutes later. I did the same again and again.

I carried out five trades and won all five! Had it been real money I would have been able to retire right then.

Tax free!

I have now fallen in love with a different currency pair- Euro v US Dollar. This seems to chart even better. I was watching it while I ate breakfast this morning calling rises and falls in my head with a similar baffling high success rate.

It cannot be this easy can it?

I owe to my readers and myself to find out.

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