Like the hapless character in the LBinary animation on the company’s home page, I was in dire financial straits when I first came across binary options trading. I was recently divorced, looking after two kids, and was working a pretty dead end job for just over minimum wage. My evenings were spent in front of my computer screen, trying to make some new friends in various chat rooms. It was a really depressing time. That was when I came across an advert for LBinary’s services in Binary Options Brokers Comparison section, reading LBinary.com review and finally clicking through to their site their offerings intrigued me. I’m normally a pretty careful person, certainly not the type who goes in for anything promising the opportunity to make yourself a lot of money. But in the state I was in at that time I just went for it, and I have to say now that I owe a lot to that state because binary options trading has honestly changed my life.
Binary options are basically a simplified form of trading that boils everything down to two directions; up, or down. That’s it. So you have all the complexity of the markets themselves, you can trade on currencies, commodities, stocks and indices, but you get none of the complexity that overwhelms most beginners. All you need to do is correctly speculate whether an asset you have chosen to trade on, will rise or fall. And the great thing about it is that there are so many assets to choose from that you can really take your own knowledge to the markets and profit from it. I’ve always really been into gadgets and technology, even though I could rarely afford the things I was researching, I was a close follower of all the new technologies, when they were coming to the market and how they were doing. Well at the time I started getting into binaries Samsung was doing really well against Apple, a few of its devices, though not yet grabbing the iPhone’s top spot, were getting really positive reviews and a number of respected tech magazines and blogs started asking if Apple’s time was almost up. My first binary trades were PUT trades (meaning I was forecasting that Apple was about to go down in value, and they were very profitable for me (I hadn’t yet grasped the idea that you don’t risk most of your account balance on single trade opportunities!).
To cut the long story short, they paid off and I was hooked. I spent a lot of time researching the markets, finding out about economic indicators and asset correlations, I am a bit of a nerd when it comes to researching anything and bringing this mentality to binary trading will really help you, take it from me, or developing it if you don’t already possess it. Binary trading has been very good to me, I made $15,000 in my first three months of trading and squared away so many debts I had picked up along the way. LBinary have been great to. Their customer service have always been helpful and quickly responded to any issue I’ve had along the way. To be honest I’m not sure why more people don’t know about binary trading. It’s definitely been a game changer for me. And my kids now tell their friend that I’m a business-woman!
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.