I kind of fell into binary options by accident. I wasn’t even really looking at business as a way to help myself out financially. I’m a freelancer, an illustrator, so I do most of my work with clients anyway, working on my own, at home, and just disciplining myself to meet my deadlines. Most of the time, that keeps me pretty busy, although, because of the nature of the industry, it can be a bit unpredictable.
When you’re freelancing, you don’t have a salary. I mean, you get paid, of course, and sometimes you even get paid pretty well, but it’s not reliable the way a fixed, monthly income is. When you have a job that requires you to go to the office five days a week, you lose a lot of your ability to use your own time as you see fit, but what you might lose in discretionary freedom you get back with financial security. That’s the “deal” as it were, right? You go in at fixed hours, you do your work, and in exchange, you get a fixed amount of money every month that you can count on. It makes it a lot easier to plan your future, because, as long as you have that job, you always know how much you’re going to make every month and every year. For a lot of people the peace of mind you get from that structured lifestyle makes it all worthwhile.
I wasn’t one of those people, and I was willing to accept a bit more financial uncertainty to be able to work at home, in my own way, to my own deadlines. But that doesn’t mean I actually enjoy the uncertainty, just that I acknowledge it as an acceptable risk of having a bit more time to work with on my own terms. Sometimes though, things could slow. There would be weeks, or even a few months when work wouldn’t come in, and I’d start eating into my savings to keep things going, which always made me a little nervous. Sure, work would eventually come, and most of the time, I could make up the difference for what I spent and continue to add to my savings, but I never actually enjoyed those periods.
So while I was on the Internet looking for new clients, and other jobs, I stumbled onto a conversation in a forum where some of the other freelancers were talking about binary options trading. I didn’t know ANYTHING about this, so I had to go and look it up. It was a pretty recent addition to the way people did finance, but I generally didn’t pay attention to finance because I’m a creative, I don’t generally work in that sector, and the amounts of money I deal with wouldn’t let me do anything in finance and trade.
That’s why my interest first got piqued in binary options trading. This was happening on “my level,” if you get what I mean. The conversation in that forum was with other freelancers, so I knew we were talking about “normal people” amounts of money, not insanely wealthy guys.
So I did a little more poking around, and found out about the different services, and for once, I realized just how lucky I was being a Canadian. There were a LOT more places I could go to sign up for binary options services than the poor Americans, they were totally locked out of a lot of decent brokers and trading platforms compared to me.
I decided to settle on 365 Binary Options, but I didn’t want to get too crazy, so I started small. I went to their tech support to find out what I needed to meet the requirements for their smallest account. They don’t tell you what you need to do to qualify on their website, you have to approach them through email and ask, for some reason, but whatever, I went and did it.
Once I got my account, the first thing I did, before anything else, was just read, read, read. I knew about how stocks worked, but that’s not how binary options worked, so I had to wrap my head a little around the concept of it not mattering that a stock did well or bad, as long as I’d made a trade saying that was going to happen, I did good.
I started small. It’s the same thing as with art. You don’t go off and make a huge painting first, you learn to draw. So I started with small trades. I had to learn a lot as I went along, because I didn’t know much about trading software either, but I started to actually make money with my smaller trades. Now I’m at the point where I’m not yet supplementing my income, but I can see that in the future. It’s a good feeling knowing that there’s a fallback.