5 Questions you are asking about Pocket Option trading
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Hey guys, so today we are going to do a YouTube comment video. My name is David with Binary Masterclass and welcome to our channel.
Okay guys, so here’s the first question. It comes from anonymous and it says, can we really trust Pocket Option? I’ve dug around a bit deeper and found quite a bit of bad reviews and that they are listed under a fake regulation agency called International Financial Market Relations Regulation Center.
Okay, so trust in the binary options world is definitely something that is earned and not given. I don’t trust any of these brokers any more than they give me a reason to and with every broker I come on board and I test them out for a while with small deposits, win some trades, take some withdrawals, start developing a relationship. And then what I end up doing is really just trading their money anyway, because even though I may start with, let’s say a thousand dollar deposit after I’ve gotten some successful withdrawals, I’m gonna grow that money into a larger amount. And so the withdrawals I’m requesting and taking are really just house money ultimately anyway. So can we trust Pocket Options? Well so far in my experience mostly yes.
Alright the next question comes from RageAgainsttheMachine. Hey RageAgainsttheMachine I’m just curious with all the shenanigans that Pocket Option has done to you, why are you still helping them make money with affiliate sign-ups and trading on their platform? I’m just curious. Because of what you have proven, they robbed you and screwed you over and children, closing their accounts and stealing their money, not to mention that Pocket Option is accusing you of your children of cheating. All right. Well, Rage Against the Machine is talking about a situation from a few months ago where we did have some drama with Pocket Option, where they did close my adult children’s accounts who were trading live here with me in the trading room and they hassled me over my own account. Now, okay, so guys, we’re already, when you trade binary options, you’re in the wild west of online trading to begin with. So you’re gonna have to expect some shenanigans. The question is can you manage it? Can you still find in or create a win-win? And now while that situation was unfortunate, was unpleasant, left me pretty frustrated for a period of time, we were able to negotiate through it, find a solution, keep a win-win. Because guys at the time I had over a hundred thousand dollars of over $100,000 of earnings in their account. And so it’s, why do I keep trading with them? Well, because I keep making money and being able to take withdrawals.
Alright, next question is from Nishin. Hey Nishin, I have always had a thought about binary option being a bit unfair as the payout is 80 to 90% for the trade investment, is it fair for a trader or is it a way to make the trader lose his or her money? Okay, so 80 to 90% payouts in binary options are actually good payouts. I would say if you’re trading 40, 50, 60% payouts, you’re going to lose money because you just can’t generally win enough percentages of your trades to make those numbers work. It’s about, is there a strategy that allows you to make money with 80 to 90% payouts? Are those payouts designed for you to lose money? Well, not necessarily. I mean, the system is designed for the house to make money, but the question is, can we win the game? Can we create a strategy that allows us to win more than they do? And with 80 to 90 percent payouts, we can win regularly and we do consistently. I doubled my account today on 80 to 90 percent payouts. So it is absolutely possible to win money with those payouts.
All right, next question is from, oh gosh, Abasinan, I totally hacked that. Sorry about that. Sir, is it possible to withdraw from like 100K to one million dollars at once? Some people say when the withdrawal is in the six figures, they will accuse you of using a bot. Well, okay, so all I can do is speak from my own experience. And now while I have no experience attempting to withdraw one million dollars, I have successfully withdrawn $100,000 twice with no hassle. One of the withdrawals took longer than normal probably seven business days six business days and the other came through on the morning of the third business day, no additional red string red tape no additional verification just Bitcoin in my Bitcoin wallet, so it is possible to withdraw at least 100,000. I’ve not pushed, I did think temporarily about pushing the 1 million dollar mark but decided against it at this point. Maybe one of you should do it, give it a try and let me know.
Alright the next question is from Alexis. Hey Alexis can you make a video where we should enter our trades if the trend is only overbought or oversold. Good entry points, where to avoid placing trades, side trends, and so on. So I wanted to bring this one up because Alexis mentioned taking trades in regards to a currency being overbought or oversold. Now in our trading strategy, we have indicators which show a good indication as to whether the currency is in an overbought or an oversold position, but we only use that indicator as a confirming indicator to our primary one, which is support and resistance. While you can trade overbought or oversold, I think it’s less reliable because you really do not know specifically where other traders are going to help reverse the trend of the trade. So, we do use overbought or oversold. I’m not going to make a video on trading on that because we don’t trade specifically on that we rely primarily on support and resistance.
Alright, Jeff Bryce, I am curious as to how Pocket Option would accuse you of using some type of software when trading as their platform is web-based. Would you not have to actually get inside the servers to use some type of trading software? Confusing. Okay, so this is in reference to a situation, again, where Pocket Option accused me of using bot software to place my trades. There is software out there, we did utilize it for a while, that actually just helps you enter your trades more efficiently and choose currencies, et cetera. It’s not a bot that is trading your account for you, but it does help you enter trades more efficiently to give you a better chance of winning. Now his question is how can you be using bot software without having access to the brokers servers? Well this specific software is able to and this is stuff that’s above my pay grade, but it is able to actually overlay on top of and interact with a web interface and actually be a controlling device of the web interface. So again, the technical aspects are above my pay grade, but you are actually able to use software installed on your computer to control these web-based platforms.
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