Day trader Josiah Stewart spends 24 hours trading binary options on Pocket Option, starting with $5,000. He hits $6,000 profit before a losing streak drops the account to $1,700, concluding that binary options feel like gambling despite his eight years of experience in other markets.
Chapters
All right, y'all, so I've absolutely conquered the Forex space, the futures space, the options space, the crypto space, the stock space, and honestly, I'm up for a challenge. So today I'm going to be trying to conquer the Pocket Options or the binary options space. I'm going to see if I can make money trading it. Yeah, this is hitting easy, $460. Dang, I ain't gonna lie, my heartbeat was extremely fast. Let's hope to not jinx it. $2,500. Mommy, that's not a flip, that's a loss. I ain't flipping it to no $25,000. Want some hot cocoa? Yeah, I understand that you keep saying that. Okay, it's getting kind of sticky right now, man. I gotta walk. Hey, you're better than this. Wait, didn't I just lose one trade? It's not even that bad. No way. No way! Now keep in mind, I traded this about 4 years ago. I have not touched it since. I don't have any crazy strategy, I don't have anything crazy. I'm gonna just see if the same way how I started in Forex, I was able to transition and make millions of dollars in futures, stocks, options, crypto. I'm gonna see if that same skill applies in Pocket Options or binary options as well. I'm super excited for this. I'm risking a lot of money here on something that I know really nothing about, but I think it'll be fun. So if you don't know what binary options is, it's actually pretty simple. It's basically saying, okay, if price is right here, I am betting that after 5 seconds or a minute or 2 minutes— you can choose the timeline— that it'll be above this line or below this line. If I'm right, I make, let's say, 92% of whatever I bet, or 80% of whatever I bet. If I lose, I lose the entire thing. So example, if I'm buying Tesla right here, right, and I think after 1 minute Tesla's gonna be above this line, if If after 1 minute comes and expires and it's above this line, I'll make $92 and I'll get sent back my $100 as well. So I'll get sent back $192. If it's below my line, then I'll basically lose the $100 and that's it. Very— live on to trade the next time. Now I don't have a crazy strategy. I'm going to use one of the strategies that I use every single day in my day trading to scout. I think it'll work out pretty well. We'll see. All right y'all, so here we are inside of the website. I'm going to be using this website called Pocket Option. As you see, I loaded up $4,900— it's $5,000— a little over $5,000 into this real account here. And like I said, it's basically just me looking at these candlesticks and seeing if after a minute I can choose it over here. I can choose whatever time I want. It could be 2 minutes, it could be 2 minutes and 3 seconds, it could be an hour, it could be whatever you want. I think I'm gonna stay on 2 minutes for now, and I'll press buy or sell. You'll see this payout right here, the payout percentage. It's always going to be a specific percentage right here on this pair. Keep in mind, I can trade anything I want. I can come over here, trade cryptocurrencies, I can trade forex pairs, stocks, anything like that, and you'll see the payout next to it. 92% means that if I put $100 into it and I win, I'll win $92, or, uh, in this example, I'll win $88. So I'm gonna try and stick with the ones that are 92% because those are obviously the higher paying out ones. And we're gonna try and flip this $5K account to $100 million within the next 2 seconds. So let me find a trade, we'll hop into it., and we'll see how it goes. Pfizer's giving me a nice opportunity here. I like— we're getting a doji. I got $500 on a 2-minute candlestick here. I think we're going to take this. All right, $500, 2 minutes. Let's see how this goes. All right, so right now if you look here in the top right corner, I'm in profit. As you see, my— the line of where price is at is above my entry line. We'll see if this holds for the next 45 seconds. I'm not gonna lie, I've been trading for over 8 years, and in the beginning of my trading, my heart would race when I entered trades. I haven't felt that in a while. My heart is freaking racing right now. We're in a good amount of profit right now though. I don't want to jinx it. Um, we have 30 seconds. I can double up on this. I'm not doubling up. We go play this regular. This is working out pretty good. I might be the GOAT of binary options as well. All right, let me, let me shut up. Hold on. Yeah, this is hitting. 2 seconds, 1 second, easy $460. First trade is a winner. Dang, I ain't gonna lie, my heartbeat was extremely fast for $400. One trade down. Now I load up $5,000 because we absolutely freaking killed it in the Inner Circle today. If you guys want to trade live with me every single day, my real actual trading, not this kind of gimmicky game stuff. Hit the link inside the description down below, the first link to join my Inner Circle. You get to trade live with me every day, get all of my trades. Today I was able to make pretty much $20,000— it was $19,700 today trading, which is still pretty good. So you get all of my trades, the same exact trades that I made that crazy amount of money with. Also have other extremely profitable coaches in there, a trading psychologist to help you absolutely freaking kill it when it comes to your psychology and trading. Basically everything you need to become a profitable, successful trader. If you want to join my inner circle, hit the link inside the description down below. All right, y'all, first trade was a success. We're up $400-whatever on the day. I'm gonna wait to see if I find some more setups. I don't want to rush this because I really want to actually make money on this. I don't— hey, what you doing? I really want to actually make money on this. I don't want to just, uh, like, blow the account for views. So we're gonna see. Why are you smiling? You remember when I did binary options like 4 years ago? Yeah, I'm doing a video today. You made boo-boo? Oh, the baby made boo-boo? Yeah. Oh, but I'm making a video today trying it out again. Yeah, I know the boo-boo is nasty, favorite. Trust me, I know. I'm trying to tell Mommy how we're gonna get rich. I took one trade already, we won. There's a reason I stopped. Let's just say that. But no, I think I did pretty good now though. Yeah, but I think I did pretty good last time. I don't really have a strategy this time. I'm just trying it out for the video, but we're doing good so far. Let's hope to not jinx it. I loaded up 5K. I loaded up 5K into an account. How much should I— you see how she trying to take all the credit? She don't even know what binary options is. I put 5K into the account. How much should I flip it to? $2,500? Mommy, how you gonna— that's not a flip, that's a loss. I ain't flipping it to no $25,000. I'd have to risk— no, I don't. You don't see this? What y'all remember my last— y'all remember in my last vlog when I told y'all like, you don't talk to your significant other about trading and stuff like that because they don't understand? I don't flip $5,000 into $25,000 a day. No, I don't flip accounts. Flip means you take something from my account. Okay, you want some hot cocoa? Yeah, I understand that. You keep saying that. Hot cocoa. Okay, so what's a reasonable hot cocoa? I don't know, I thought you were gonna say something like $6,000. So that means you'll only be up $1,000? Yeah, that's good. She out of touch. She don't know how to cook hot cocoa. Hot cocoa? Yeah. Okay, you're not getting no hot cocoa. All right, I low-key missed my entry on this one, but I'm gonna see if I can catch it on the way up here, which I probably shouldn't do, but let's do it. Another $500 on the line. Let's see, this will expire in a minute and 12 seconds. It's not going good so far. Okay, now— okay, okay, okay, now we're freaking talking. Wifey said we gotta get it to $7,500, so I'm gonna start having to do some bigger bets here. Yeah, give me a sec. It's reversing now. Okay, it's getting kind of sticky right now, man. It's— my videographer is trying to get some footage for the reels, and I think his presence just brought it down, if I'm being honest. He left. It's going back up now. We have 10 seconds. 9, 8, 7, 6, 5. No way. 2, 1. All right, cha-ching. Golly, I ain't gonna lie, that was— don't ever in your life go close to the charts again. Not a single time. That was crazy. All right, we're, uh, 2 for 2 right now. We're up $460 times 2, so we're up $900 right now. Looking nice. We're looking smooth. I'm not gonna force anything. That was a nice trade, but I'm not gonna force anything. Let's wait for the next setup. Now let's be patient. This instantly reversed. I'm not gonna lie, it's crazy. Hey, I'm glad we got the money though. $900 easy past 4 minutes, right? What do we celebrate with? Some boiled eggs with ketchup. If you don't eat ketchup on your boiled eggs, you're a weirdo. But it's going good so far. This strategy that I'm using, it seems like it's universally amazing, if I'm being honest. Trying not to jinx myself right now. I'm doing good. We have some breathing room now. I do need to up the amount of money I'm risking though if we want to get to that $75,000 account size, I need to risk a little bit more because I don't want to take 100 million trades today. I want to take a few, get my wins, get out of here. But let's be patient, wait for some additional setups. I'm gonna just finish eating my breakfast because my stomach keeps growling. We have to fix that. All right, so here we are, another setup I think is about to happen here. So let's see how this baby goes. I think I'm gonna enter here. Oh, uh, uh, the candlestick not looking that good no more, I ain't gonna lie. Yeah, I don't think I'm gonna take that no more. Let's see if I find another one. All right, so I'm thinking about taking this one right here. It's a lot of selling pressure but could play out nice. Let's try it, let's try it, we're trying it, we're trying it. It's a lot of selling pressure here on Apple. Is this Apple? No, EUR/USD. Wait, is this the right thing? Oh man. All right, we're in it. We can't do nothing about it now, so let's see how this goes. EUR/USD, don't let me down. All right, so we're in pretty deep drawdown right now. We need this next candlestick to have an insane push to the upside for us to make money, or this might be our first losing candlestick or losing trade here. I'm hoping not though. I'm hoping we can get some bullish momentum to pick up here to the upside. We're having a little bit of it, but we need more. We have 38 seconds. Yeah, I think this is gonna be our first losing trade. I knew it was a lot of selling pressure here. 8 seconds, we're gonna end up losing this trade here. First L of the morning. All right, I'm about to take this one right here on Big McDonald's, don't let me down here, McDonald's. We have our 2-minute entry in right now. Our entry is right up here. Let's see if this can hold for the next 2 minutes or so. This is an absolute beautiful push out of here, I'm not gonna lie to you. I don't know what this double up button does, but it's looking awful attractive right now with the position that we are in. I don't know if it gives me another entry right at this point here or if it doubles up my bet. If it doubles up my bet of where I'm at, I like that. But if it gets me in right here, I don't like that. I'm gonna just leave it. I'm just leaving. We'll count this one as a W. All right, 10 seconds. We basically guaranteed this win, bringing us back to our profit we were at before we lost that one stupid trade. So we're back up to about $5,900 here. I need to start— come on, I need to man up. We're doing $1,000 a trade now. Let's find something interesting. All right, let's take this $1K trade here. Let's see, for a sell. This is our first sell of the day, I think, and it's taking all of our money to start off our first sell of the day with our first $1,000 trade of the day. Chat, am I cooked? I'm cooked, chat. I'm super cooked. Yeah, this isn't looking so good. We're about to take our first $1,000 hit here unless this reverses within the next 20 seconds or so. I gotta lock in, man. I gotta lock in. I gotta Lock in. Gotta lock in. No playing around. Gotta lock in. Lock in. I'm locked in. Stay locked. In. I'm locked in. You're better than this. Wait, didn't I just lose one trade? It's not even that bad. All right, I'm locked in. Let's do this. All right, I'm liking this. We're in it with $2,000. We're not revenge trading, we are being strategic to reach our goals as fast as possible. All right, this is not going good, man. I ain't gonna lie. Oh man. I caught the literal bottom. Maybe I should just reverse trade myself. All right, 3, 2, 1, down $2K. I just made a rookie mistake, bro. I revenge traded and I doubled my position size. I gotta lock in for real this time. Like, all seriousness, I really gotta lock in. All right, I'm about to take this right here. We're in this now on USD/JPY, risking, uh, $1,500. If I catch the top here again, I might just suck at binary options. I have to take my wins in all the other fields, and it looks like I'm about to lose this right now considering this candlestick that we just got. All right, we're just chucking this one as a loss. This is— I really thought this would actually go better, I'm not gonna lie to you. We're taking the L on this one. There's actually another nice setup that's happening right now that I was considering hopping into, but it's just not a lot of volume here on USD/COP. I don't even know what currency that is. Okay, I'm gonna, I'm gonna, I'm gonna lock in. I actually like this one. This— if I lose this, the account's blown. I'm not loading up more money into this account. All right, here we go. I'm liking this one. Let's, uh, let's go for it. Dang, we were doing so good and it just reversed. I ain't gonna lie, this is about to be a nail-biter. This is about to be a nail-biter. We have 8 seconds left. We're floating at our entry point right here. This might just still— oh, 2 seconds, 1 second. Buzzer beater, buzzer beater. I cannot believe we just made it out of that alive. That was crazy, I'm not gonna lie. All right, we're still in it. We're still in it. We lost half of the amount of money that we started with. I told you, I just gotta lock in, bro. Just lock in, bro. All right, y'all, so what I just realized is that as soon as my wife gave me that kiss, I started losing. So I need her to take away whatever the heck she gave me. Booty, I noticed something. What? Once you gave me that kiss, that's when I started losing. You ruined my good luck kiss. No, no, no, no. So I need you to take away whatever the heck you did. 'Cause we was, okay, so it was at $5K. We got to like $6K. Hey, pretty mama. I'm on the phone with Riri. You on the phone with Riri? Yeah. Nice. So it was at $6K. Yeah. I got it all the way down to $78. But we're back up now to, we're back up now to $2,500. Can you give me my kiss again? No, no, no. I need you to do the opposite of a kiss. What is that? Yeah, that's crazy. That might work, actually. Don't ruin my good luck kiss. I'm gonna go back. Thank you. Go back into the trenches and try and fix this. Blaming it on my kisses. I noticed. I really realized. I'm like, wait a minute, what changed? Because I was doing so good. Then I realized, wait, the only thing that changes— she gave me good luck kiss. It's okay though. I'm locked in now. I'm locked in now. So I bet the entire $2,500. This is what you do. No, I don't do that. First of all, that's what you did when you traded this last. Okay, so let me tell y'all, listen. No, let me tell y'all, listen. So I'm a great day trader, right? Futures, options, forex, kill it. Crypto, kill it, right? I'm a really bad gambler, like a bad gambler. Yeah, like I'm the type that when we go to the casino, I'll take out like $5K, $3K, whatever, and I'll bet it all in two hands. Like I'm that kind of person. Yeah, so I'm a really bad gambler and I feel like I'm treating this a little bit like gambling instead of treating it like a trader, the trader that I am. So, uh, I don't know, I just lose all discipline when it comes to gambling, like blackjack, roulette. I just, I don't know what happens to me. But, um, I'm not addicted to gambling because, you know, because you're disciplined. But if you weren't disciplined, you might be. Yeah, but if I'm at the casino, I'm bad. Like, if I get into the casino, I'm bad. But for me to go to the casino, I don't do it because I know I'm bad. I'm gonna treat this like I'm trading. I was doing that in the beginning, but then when I— Good luck, this is gonna get to 75. All right, good talk. So I'm seeing this one, I'm liking it. We got a 2-minute one ready to fire off. It was a huge push to the upside though, if I'm being honest. I'm waiting for a little bit of a pullback. It's not pulling back. I'm waiting for it to pull back to like right here so I get a better entry. Come on. I win it. We're in it. $1,000 on this one, so we're not make-or-breaking us, but we do need this win here. Of course, when we need it the most, it fails us like the freaking Avatar. Come on, we need a nice push out of here, man. With a nice push up. Just give me a nice push up so I can feel safe, so my heart can stop beating so I stop feeling like a gambler. All right, we're having a nice push, we're having a nice push, we're having a beautiful— I'm talking about the best push in my entire life. That's what it's having. Certified winner. All right, we're back, we're back, we're at $3,500. We're back, we're back, we're back, we're locked in now. Johnson Johnson's doing it. Wait for a bit of a pullback, wait for a bit of a pullback. We're in this. Johnson Johnson— no, USD/JPY for sales to the downside. Let's see if this baby holds. We're risking $1,000 on this, so we're not betting the house. We're just gradually having proper risk management to bring us back up to at least break even here. All right, my camera had turned off and we were in drawdown a bit, but now we're in profit. Let's see if this holds. We have 27 seconds for this baby to hold. We're pushing down nicely. 5, 3, 2, 1. We're locked in. I'm talking about we're locked in. We are freaking locked in right now. About to hop into this one. Oh snap, I messed up. I didn't put it for 2 minutes, I put it for a minute and 49 seconds. All right, let's let this rock. It's Close. It's close to 2 minutes. Let's, let's just let this rock out. 4, 3, 2, 1. We're locked in! We're back! We're back, bro! That was crazy. I don't know why it dropped down like that. Oh, we're back! Wow, this is the comeback story of the freaking century. I need a freaking break. Why do I do these things to myself? We're back to $5,000. $5,300 in profit right now, man. Back on the board. We are back on the freaking board. Thanks to apple juice. Thanks to apple juice. Oh dang, you squirting apple juice on yourself, eh? All right, come on, we got this. So you're gonna keep it in? Yeah, I gotta get to $7,500. You told me to do it. That's the reason I'm here. I'm not looking at the chart. I'm getting to $7,500. not quitting until I hit 7. 500. I'll be here all night long if I have to. Are you going to spend it on me since I got. Oh, heck no. Heck no. No, no, no, no, no, no. Not at all. I don't feel like being distressed anymore. I'm not going to lie. We're at $5,335. I want to get to $7,500, so I'm going to just do my next trade. I'm going to wait for the perfect setup, but I'm going to risk 25, bring us to that profit target that I want to hit. I'm actually pretty confident that if I just took this slowly, I could definitely get it to the $7,000. As y'all saw, when I actually traded like a trader and not like a freaking degenerate gambler that I was trading like before, I was— I'm doing very well. My win percentage is doing very well right now, but I just don't feel like being stressed out about this anymore. So I'm gonna just go for one more trade. I'm gonna find the perfect setup and see if we can lock in this $7,500 goal. Oh wait, it's not letting me do I can't do more than $2,000? It only lets me do $2,000. All right, we'll hit— we'll do that $2,000 and get to whatever that number is and see from there. Give me volume on this candlestick, I'm good, bro. Give me volume on this doji and I'm good. A bit of a pullback. We're in, we're in, we're in! Okay, this is not looking so good. We have a minute left. The candlestick color changed. Uh, Oh man, no way this is how this is ending. You know, I really want to end the video and bring it to $7,000. I— ball? Thank you so much. I'm down $2,000, but at least I have a ball. All right, so we failed this challenge. We killed it on Forex, futures, options, crypto, stocks, but binary options absolutely took my money. We're down a little bit over or under $1,700 on the $5,000 account. The most we were up was about $1,000. I tried to get to $7,000. I'm pretty sure if I just continue to trade it with $1,000, uh, positions, I can get it back up, but I really don't feel like doing that anymore. I'll just take my L. And I won't trade this. This is why I stopped trading it before. As you guys can see, my win rate was still pretty great, which shows that obviously being able to read the markets and understand the markets is universal. And that's why I've been able to make money in not just futures or Forex, but I've taken it into crypto. I've been able to make a lot of money as well in options and trading stocks. But it's just about being patient, because the main thing that killed me on this challenge was when I went on that losing streak and I upped my position size and made me lose a lot of money, almost made me blow the entire account, which was not good at all. But when I locked back in, had proper risk management, absolutely killed it. That's a lesson for each and every one of you guys, to trade and not gamble. Now, I might have lost this challenge, but I do kill it every single day trading futures and forex and options as well. Crypto, obviously. If you want to get every single trade that I take on a daily basis, the actual trades, not these gambles, hit the link inside description down below. You can trade live with me inside of my inner circle. I open up spots. So there should be an opportunity for you to be able to join it, to have access to not just me and learn from me directly, but also access to all of my other coaches in there to take all their profitable trades. We have a trading psychologist. We're live every single morning, live trading and answering questions. Literally everything you need to become a very consistent, profitable trader. If you want to be able to read the charts how I read the charts and be able to have a high win rate, even though we lost money because of my horrible risk management, watch this video right here. I break down the type of candlesticks to to look for so you can guess what the next candlestick is. It's basically exactly what I was doing on this video, or the thought process that I was using, the strategy that I was using for this video. So learn it right here.
