IQ Options (A binary options + forex trading + crypto trading)

What an experience using this broker causing me to lose at least $350 in binary options and forex trading. It is a huge relief that the minimum trade to put is only $1 or else I would lose all my life savings. I dabbled in binary options first and then forex trading. Welcome back, readers! Today, I’m going to talk about my experience using this broker.

My friend, Kar Leong introduced me this broker to me. He was my trusted friend and soon enough, I was trading binary options with just a small amount. After National Service, overcame with greed, I started to trade higher amounts as I was losing and I lose even more. This coupled with the fact that I watched youtube videos which shows how easy it is to earn money on binary options. Soon, I realized that binary options are impossible to make a living out of it. I was quite devastated by it.

Binary options had a different time limit to expire to get the profit or loss. I chose the one minute expiration time which had the sweetest bait because I can profit in a very short time. At first, I chose the line chart type and move on to candlesticks pattern. I thought that I can become a master after studying about candlesticks pattern. I was so wrong.

After giving up on binary options, I turned to forex trading as it had no time limit to trade. I followed a youtuber whose name is Rayner Teo and he was bearish on the USD/JPY pair. I stuck with his strategy without any stop-loss in place in case his strategy backfired. Sure enough, I was burned to a crisp losing $30. The next trade, I short the EUR/AUD pair because there was a doji at the peak. I watched the price rise and remain adamant to hold on to the trade. My investment went up in smokes. I even borrowed two books, One on Technical Analysis and Forex Trading for dummies. That books didn’t help me although my losses were cut significantly.

I continued to trade until I found Steemit through @marketreport and through this discovery, I studied cryptocurrencies at a fast rate and realized it is more profitable than forex trading with its low adoption rate. If I did not find Steemit, I would still trade forex at a loss till today and never would have known the potential of cryto. I thank Steemit for opening the doors of prospect and I will never let Steemit go. Steemit had opened up the doors for my passion of writing, more so than forex trading. Signing off! Sejuk!