I had just broken up from a long-term relationship (well, actually dumped by my high school sweetheart for the eyes…or legs of a younger woman). On top of that I was made redundant from my job, as a side effect of the economic crisis. So, I found myself at home, lots of spare time in my hands, the lump sum redundancy payment in my bank account and my psychology at the pits.
At first I turned to the TV set and the kitchen cupboards, but silly sitcoms and too much chocolate soon got the better of me. I needed something new, a challenge, something to get me going again, and unfortunately this something took the form of binary options trading. I must admit I am somewhat of a weak character, never very good at holding my ground, susceptible to temptations, not very disciplined, not sticking to any exercise or nutrition plan, not able to resist the occasional drink, or other recreational substances…so a weak person, at a difficult time of their lives and the prospect of fast, almost instant, gains from binary options trading, formed the perfect recipe for disaster.
I was soon hooked, dazzled by the rush and speed of trading at super fast times, 60 seconds platforms, one touch platforms, you name it, I rode it! My head was spinning, my cheeks were burning. I could be online all the time, touching arrows and buttons, my head filled with numbers and charts and all sorts of technical financial terminology.
Unfortunately I was sinking fast but it appeared that I was riding a car with no breaks on. My peers started worrying when I began declining all offers for a night out and preferred yet another night of online binary options trading instead. It all seemed so easy and exciting that I could not drag myself away from the screen.
With the benefit of hindsight I can now admit that I was behaving like an addict or a hardcore gambler on a wild spree at Vegas, but couldn’t see it like that back then, lashing out at all those who accused me of gambling, answering back that I was trading currency pairs, stocks, indices and commodities, as if I had suddenly turned into some sort of expert analyst, who could make sense of all the trends and new developments in the world markets.
What saved my life and put a stop to my wild trip downwards was a job offering that forced me out of home and back into the life of normal people again. However, it was not soon enough, because my frenzied encounter with binary options trading cost me almost all of my redundancy money. No bonus money, or so called guaranteed returns or refunds could save my ass. So, just a friendly piece of advice, if you are not well versed on financial matters, if you are not the kind of person who can keep their cool and your head on your shoulders, please, please, stay away from binary options trading. It may look simple, enticing and lucrative at first, but trust, it is actually hiding a lot of risks, dangers and loopholes that could get you hooked and into a lot of trouble.
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.