Today we interview Heyzee from the CommuniTraders. He has kept a trading diary since May 2016 and you can read his diary here: “Boss B’s Trading Diary”. He is from Nigeria and has been a prime example when it comes to keeping a proper trading diary and we often refer to his diary when beginners ask us how to best start a diary. Let’s find out what we can learn about him and from him!
How did you first get introduced to Binary Options Trading?
Through a friend. At first, I was researching how one could make money online and found Forex trading interesting. Later, my friend introduced me to the world of binary options and I was hooked!
How did you find your way to thatsucks.com and CommuniTraders?
I found Okane on another website and since I liked his trading style I “traced” him here to CommuniTraders to learn more. Since then, it’s been a pleasant journey, learning and sharing with the Community of traders we have in the forum.
If you studied at our school section, do you think it provided you with a good foundation?
I never really used the school section itself. I focused mostly on the CommuniTraders Live YouTube videos for my education. However, I am still certain that with the caliber of traders that Communitraders has produced, the info created by them in the school makes a solid foundation for beginners.
Did you fall for any scams before you found us? If so, which scam was it?
No, thankfully I never did.
Except for the scam, you have probably made some other mistakes so far, can you mention one or two of your biggest mistakes?
Not really. Mistakes have of course been made/and will be made during practicing and trading but thanks to keeping a detailed trading diary I am learning from them and constantly improving my trading.
How has your trading diary on CommuniTraders helped you develop so far?
Certainly, my trading diary has improved my trading skills so far. There has been a dramatic improvement to how I see the market today compared to when I got started and it’s thanks to the feedback and guidance I received in my trading diary from other pro traders.
Are you trading live or on a demo account at the moment and how is it going?
I still consider myself a student and practice on a demo account. I know that becoming a trader and achieving consistency in my trading requires time and effort but I am positive that I will get better as time goes on.
Have you used the CommuniTraders trading platform for practicing or copying trades?
No, my main focus has been the diary and demo trading.
What else would you like to see, or more of, in the forums and the homepage?
I can’t think of anything specific. So I guess that means I have all I could ask for!
Which broker or brokers are you with at the moment and are you happy with them?
I use IQOption. Yes, they are really good in my opinion.
Which charting software are you using for your technical analysis?
I use MetaTrader 4 for the technical analysis. You can see pictures of my charts in my diary if you are interested in finding out how it looks.
Which trading strategy or approach are you currently using?
Simply put, I use “Okane’s price action” techniques. When it comes to choosing expiry, I prefer short term expiries in the range of 15 up to 45 minutes. In addition, my favorite indicators are Stochastic Oscillator, Relative Strength Index and recently the Volume indicator which helps me trade breakouts.
What advice would you like to give to a beginner who is just getting started?
Well, my advice to beginners is to dedicate themselves to studying with absolute determination.
Also, get yourself a good mentor. You can find a mentor in the Communitraders forum, pick someone whose trading style you like and follow their advice.
If you got to ask yourself a question and answer it, what would it be about?
Have I improved my trading skills since I joined the CommuniTraders forum in summer 2015? The answers is certainly yes!
What do you think of the future of binary options?
As financial regulators toughen on binary options, I think the industry will remain with a less number of scams in the future.
“Inevitably Students of Price Action”
“We are inevitably students of price action! We never graduate from its prestigious university”, a quote from Heyzee. What he means is that we are always learning and there is always room for learning more. Besides, “price action” is the market and the markets frequently changes and we must learn to decipher it. In the process you will improve but only if you learned from the past mistakes. Simply put: focus on learning and don’t rush into trading with the expectation of getting rich fast.