So: I've seen ads in email and on websites, one of these "famous name" emails even mentions it to me::: Methods of making money through something called BINARY TRADING (or "trading binaries").
With all the advertising I've seen over the past few months for Binary Trading, I thought I'd give it ago, today.
I signed up my iPad using IQ Option, a do-it-yourself method where you choose when and what way to invest, without relying on any automated systems.
Using IQ Option's option of using less money at a time (thus risking less of my wallet), I deposted $30USD into the account, which is about $40CAD.
I managed to trade myself up to $45USD this morning. And then I went out with my parents, and as I waited in a hot van for my parents to come back (which took over 2 hours), I pulled out my cell phone and decided if I could make my $45USD even bigger.
I lost some, I gained some, the highest I remember getting was probably close to $50USD.
But, after a series of bad decisions and bad luck, I eventually found my account reduced to less than $1 value.
Here's what I think I noticed as I used the IQ Option system::: when I invested $1-$4 at a time, I felt I was more likely to make a profit, while if I traded with $5 or more it seemed like I was cursed to lose that money EVERY TIME.
So, trading small amounts, I eventually earned 50%, but if I started trading with higher amounts I felt like I couldn't win anymore.
And I lost nearly all of my $30. Made my way up to $50, but lost it all very quickly.
So, when it comes to binary trading, I'm putting this form of investment on an indefinite hiatus, because this form of investing doesn't seem any better than online poker if you can easily lose it all in one day.
And then I had a pretty heavenly evening of entertainment courtesy of my mother, which I will not discuss in any greater detail because it was just so good, the blog post would be like an advertisement for the company involved rather than actual news.
So, Life's still good. I'm enjoying it.