Ah, I'm overflowing with sympathy after reading this message.
I occasionally get such ridiculous messages. This post is not to mock them who needs money or who are beginners. It's more for showing how it's actually true and how it has it's own risks too. I remembered about this messages because yesterday some other newbie asked me same thing. He was extremely disappointed to know that I cannot make such big amount of money within short time. I told him I cannot take such risks and maybe can turn that $10 into $20 at most if I try my best.
Now, as for reference of what kind of video we are talking about, let's see below.
Youtube is full of such experts right now. They are making so much money with binary options that you cannot even hold your breath. I know for sure that some of them are not scammer and actually industry experts. Since experts are making this much money, it's obviously true that it's possible.
Turning $1 into $1k or $100 into $10k, $1k to $100k is certainly possible. It's almost absolutely possible with 10 or maybe 14 itms in a row. There are actually some huge risks taken for such trades. I'll discuss some of them.
- For fun: First of all, those who can do these kind of awesome job, they do it for fun mostly. They thrive for challenges. If they win 100 times in a row somehow, it's probably because he did it as challenge somewhere.
- Prepared to Lose: They are prepared to lose that amount of money. Their capital is big enough to let them take the risk. They are not using all of their life savings in one trade. What if you lose the first trade with all of your last bit of money? What if you lose the 13th trade?
- They know their limits: You cannot win 20 times in a row without trying at least 200 times. That's a given. Even if your account has 1K deposit showing, your original balance in your bank might actually be 10 or 100 times greater than that. You are risking only a small bit of the whole money.
- They are not stupid newbie: The people who wants to win all at once and become rich overnight actually loses all money at once due to stress. They are not like that. They know success doesn't come overnight. They know that they are not some GOD who can predict market 100% time.
- Bigger Reward == Bigger risk: If you want to earn $10k, you must be able to risk $10k too. If your capital is $100, then all you can wish is to risk $5 and earn $5 at most, not 100$ or $10k. Dreaming is good, but asking for a bigger reward without the proper risk is not a dream, it's stupidity.
Now the real questions are,
- even if he can turn your $10 into $10k, why would he help you? His time is precious. Making trades requires time and focus, who is going to pay for that?
- Is there any business in world where you can turn $10 into $10k in 1 week/month/year also just by asking someone to do it for you?
So stop with idiotic dream of making money overnight. Stop asking others to show you some miracles.