My First Binary Options Deposit – Mr. Shark!
Bogdan continues “my first deposit” series with the last character, the Shark.
Sometimes we name a shady broker who hunts our money a “shark”… or a self-proclaimed Guru who tries to sell his crappy educational material. But I don’t want to talk about that kind of “shark”. Instead, I will focus on the shark as the ultimate trader, one who is not afraid of taking risks, knows the market inside and out, has money to invest and is always hungry for more… but he wasn’t always like that. So what made him the kind of trader he is today? Keep reading and you might find some answers.
A Shark’s Tale
Remember the Sucker and the Nice Guy (see link below)? Well, the Shark probably started as one of them and slowly climbed the “evolution” ladder to get where he is today. Just like the Sucker and the Nice Guy, he probably got burned in the beginning, but unlike these two, he did not give up. Early in his trading career, he was probably mocked by other traders for his lack of experience, and paid good money for his naivety in trusting the first broker who came along and promised to make him a bazillionaire in no time. His trading is not good either; he loses more than he wins, he lacks the discipline and mindset to follow a system… in other words, he is a poor little fish trying to swim against the main current without knowing exactly what his destination is.
At this stage of his “career”, the future shark reaches a turning point and it’s where all the similarities with the Sucker and the Nice Guy end. He has his first “Eureka!” moment and he realizes he needs to step back and find his balance. At this moment he also understands how little he actually knows about the market and decides it’s time to take things seriously if he wants to achieve his goal. Now the real study begins… countless hours spent understanding price movement, market cycles, reversals, breakouts… He turns into a vacuum, developing almost an addiction for knowledge and he never settles for “I know enough”. Money management becomes his second nature and he even starts to develop his own techniques; he learns to master his emotions and finds ways to stay on track no matter what.
He can still hear in the back of his head the jokes of other traders. The fact that he lost money is still bothering him, but a little smile appears in the corner of his mouth… he realizes he is now above those traders, he knows he will make back the lost money and that he will be successful. Trading success is not an “If” anymore and doubt is a feeling he hasn’t experienced in a long while.
The Shark Trade Binary Options, with a Cigar of course
The Shark inside him is fully developed now and he sees market trends as if they were the ocean’s currents and his experience tells him it’s not a wise thing to swim against the current… why fight it when you can join it? After all, he has nothing to prove to the market. Just like a real shark doesn’t need the whole ocean to swim and hunt, our shark doesn’t need to trade all the market moves or 100 assets. His first deposit with a Binary Option broker is at least $1K because he has money to invest and knows beforehand his probability of success. A Shark will not accept a bonus which he considers too high because he doesn’t want any strings attached and he always makes sure he reads the entire Terms and Conditions section. That way, he is never caught off guard and knows what to expect from his broker. A real Shark will never rely, even for a second, on an Account Manager provided by his broker because he walks his own path and has no need for someone to shine a light. Everything is crystal clear and his teeth are sharp as blades… he is the ultimate predator!
“If you can’t swim with the sharks…Stay out of the water!” – Unknown author
A Shark trader is not born that way, he develops himself and constantly tries to sharpen his skills and adapt to new conditions. Some of us will never become sharks, but that’s OK, we need losers in this game too… sharks have to feed, don’t they? Hmm… you find that last sentence too harsh? Well, the market is a lot harsher than that and if you can’t get over that little sentence, maybe it’s time to get out of the water… Remember, we all have a Sucker, a Nice Guy and a Shark inside of us… all we need to do is decide which one of the three guys we want to allow to come forth.
- My first Binary Options Deposit – Real Trading Experiences Part 1 – The Sucker
- My first Binary Options Deposit – Real Trading Experiences Part 2 – The Nice Guy