Modern day students are a very active stratum of society in constant search of new methods of generating income. This makes perfect sense, since young people are:
- most active users of Internet and all sorts of gadgets;
- intelligence and success have become the main sign of coolness.
Being a student myself, I want to share my story — how I became a successful binary options trader and the benefits it’s been bringing me. I hope this might help my peers to become more financially successful and independent and to understand «how can students earn money online?»
How it all began?
My name is Sergey Deyev, 21, I am a student of a technical college and for two years I have been successfully trading binary options on the platform of the Binomo broker. Here is my story of success.
My trading career began with a rather common thought inspired by the standard university courses in the “Theory of Economic Studies”, “Economics” and “Finance” (you’ve heard of those, right?). So, while I was studying all these abstruse disciplines, an idea came to me about how to apply this all in practice and how can I earn money as a student?
Of course, I’ve heard a lot about the financial markets and the opportunities that the Internet provides. Forex was the first thing that came to my mind, but having studied the process and the principle of working in the foreign exchange market, I realized that was not a way to earn much. Scouting about the Internet in search of an alternative, I stumbled upon binary options. After reading through some tutorials I immediately realized that concept was much more attractive and promising. You’d probably agree that getting up to 85% of the profit on one contract within a few minutes or hours is more attractive than waiting for an indefinite time in the hope that a Forex contract might bring profit the volume of which depends solely on the change in the value of the asset.
In addition, the main factor in choosing binary options was a small starting capital of only $10. And that’s how I became a fan of binary options.
From small to large
The main problem was the choice of a high-profile broker company — as you understand, you can count on a positive result only when working with a professional service. I turned to the Internet again: detailed and comprehensive information services, broker ratings and reviews of other traders allowed me to make the right choice — the Binomo company.
What attracted me to the company the most were the following features:
- Minimum starting capital of $10.
- Professional trading terminal.
- Qualitative training and analytics.
- Fast and convenient mode of transfer and withdrawal of funds.
- Transparent operation policy.
- High degree of security.
The services this company provides allow me to earn enough money for life and leisure.
The first thing I did when registering with a broker was completing a simple and short training. It’s just that they do not teach financial trading in classes, and I really wished to earn money. After two weeks of training (by the way, this trading platform has excellent trading simulator, a demo account). I decided to apply what I’ve learned in practice.
The first trading deposit which I decided I was ready to risk was $50. Not much, but it’s more than enough to start trading binary options. At my first trading day, I received $ 25 profit, which only strengthened my belief in the effectiveness of binary options. The next few days brought me another $ 180! Spending only 4-5 hours online, I increased the funds on my account by $ 1200. Of course, there were ups and downs, but nothing really tragic, especially since I had little experience.
Today, my operating capital (I’ve been trading for two years) is 27658.34 dollars:
Such capital brings at least $ 1000 of profit per month with almost no risks and a moderately active trading mode. This is not a huge sum, but perfectly enough for a comfortable student life. And if we take into account the simplicity of the process — it’s almost as if I was simply handed money every month!
The basics and important details of trading
But enough of emotions, let’s focus a little bit more on the practical aspect of binary trading. First of all, I’ll explain what it is in most simple terms. Binary options is an “urgent version” of exchange contracts — here the open period of the trading position is limited by the trader himself by setting an expiry time of the option (from 1 minute to several days). The main condition for the profitability of the contract is to make a correct forecast about the movement of the price — UP or DOWN. If you made a correct forecast about the direction of the price fluctuation of a certain asset and set a right “lifetime” for this forecast, then the price movement to 1 point brings you a profit of up to 90%. If the forecast is wrong, you lose the entire amount of the investment.
In order to earn stably I use my own forecasting strategy developed through experimenting with simple indicators (programs for automatic market evaluation and formation of trading signals). It allows me to get 85% of profit options in average. And it works very simply: choose an asset (I recommend the EUR/USD pair), chose the 15 seconds timeframe and set the following indicators:
- WMA with periods of 10, 20, 30 (yellow lines)
- EMA with periods of 50, 75, 100 (red lines)
- RSI with a period of 75 and a level of 50
The strategy will form the following set of parameters as indicators signals:
- WMA and EMA movings crossing in a certain direction
- RSI line breaks the 50 level in a certain direction
As the basic expiration period of options, I use the range of 3-5 minutes and trade contracts with a value of no more than 3% of the trading capital.
I’ve been applying this simple method of forecasting every day for only a few hours, and I’ve earned enough to afford expensive clothes, entertainment and even cover the university tuition.
Binary options allowed me to have a great student life feeling financially secure and build very ambitious plans for the future. I hope my story will inspire bright young people from families with average income, just like myself, to bring their financial status to a higher level.