I was really astonished from David Williams , the person who presented the main video guide tour inside the Euro Millionaire System website.What do I mean by that.?….I have already reviewed a few Binary Options Trading Systems that were proved all scams , a total waste of time.I am talking about the “Great Profit Formula by Mike Matthews” , the “Make Money Robot by Michael Williamson” , the “Quick Cash System by Sarah Markel”….So do you mean that this system is a legit one.?…
In Order to answer the question “Is The Euro Millionaire System A Scam?…I will provide all the necessary details for you to make your decision.
When I entered the website of euromillionairesystem.tv I was already suspicious that this was another type of scam.It was not only the title of the site (I hate the word “millionaire” when it comes to make money online).There was a very short video input claiming how powerful this system is and that “golden” information worth $5000 will be given for free to reach our financial dreams.Another fancy claim was that this information will be available only for a limited time.
Furthermore the first headline added to that mistrust.It says “To check how innovative this system is please watch the video below”.Now when you have reviewed a lot of online making money opportunities these tactics work like a Siren shouting “Scam Alerts”.But I had to watch the video in order to proceed with any conclusions.
…I was expecting to witness just another “Background Story” of David mentioning how poor he was when he started out and how he eventually made to become a millionaire with zero experience.Came to my surprise that David was explaining the Binary Options Trading System of Opteck Website – The Broker that Euro Millionaire System collaborates with.No historical claims , no promises of making money with the Push Of A Button whatsoever.May be he was hiding these tactics for later.
How Opteck.com Works and what Training is the Euro Millionaire System Providing?
David was showing how he uses the system of Opteck.The purpose is to speculate the direction of a market currency pair like (EUR /USD) , (USD / JPY) , (AUD / USD) and many other…You can set the time for the action to be completed and you have to invest an amount of money in order to begin.Then you have to wait for the time to elapse and to find out if you lost or won.
David clearly mentions that there will be losses , this is not a winning system on demand.Opteck as the majority of online brokers offer a tool , the Trading Sentiment Tool which shows the direction of the traders that are “Playing” into the system.
He says that the brokers like Opteck offer this tool mainly to misdirect the players because the brokers are making money when traders lose them.And he suggests that we do not follow the sentiment tool , but to go against that by all means.Then he lays out a diagram of a basic strategy that we should follow.Our first “BET” should start with $20 in the (EUR / USD) currency , the time should be set to one (1) minute and that we should go against the tool direction , if the majority of traders bet on (UP) , we should bet on (DOWN).
He is already playing in the system of Opteck and I can watch him win the first 2-3 bets , lose 1 and then win 2-3 more bets to make a final profit of $200 , $300.Not so bad for a 10 minutes work.While he plays he explains the strategy of his movements.The second bet we should place if the first is a winning one is $35 , if we lose that bet we should repeat at the same bet.If we win the second we can move forward to $50 , then $70 and then $100 following the same tactic.When we lose we repeat the last bet , if we win wemove on the next higher bet.What he is not saying is to what to do in cases of 2 losses in a raw , or 3 or 4.
David explains that the Binary Options System better works for short term trading sessions.He suggests that if we win the bet of $100 that we should stop the trading and to come back the next day with a fresh mind and body.And I can really congratulate him at this point.If you ever got involved in such games or gambling you should follow that rule.Always know when to stop.Even if you win at a certain point you have to stop.
If you lost some money then you have to stop immediately.You have to set a specific amount of money that you can lose and do not exceed that number for no reason.And always bet as much as you can really afford without having to mortgage your house the next day.What David additionally mentions as the brokers’ main advantage is that the vast majority of players will continue to play , no matter how big losses occurred and this is how they make real tons of money.
Does Euro Millionaire System Work?
I was really satisfied from the presentation and I decided to sign in with the Opteck system to try it for myself.I could definitely bet a few dollars to know if this system really works.I was given a password and entered the Opteck website to find out that it was a nicely organised website with full instructions on the Binary Options Market.In a nutshell Binary Options are estimates of underlying assets performance during a certain period of time.You have to predict movement , to “Call” or “Put” , or in other words to “Up” or “Down” , to “Sell” or “Buy”.The assets that can be traded are Indices , Forex , Commodities and Stocks.
Opteck Training Academy
If you want to participate in that Trading System , Opteck is providing an extended training on that matter.What is included inside
♦ Introduction to Binary Options Trading
♦ A 30-35 page e-book covering all questions about the Opteck functions.How to use their system , how to register , to deposit , to withdraw , the trading instruments , how to open a trade and there is also one FAQ section and the book closes with an article on how to become a profitable trader.
♦ The benefits of Binary Options
♦ Consultation with Trading Expert
♦ Trading Basics
♦ Trading Tutorials – Videos for beginners and advanced players.
♦ Option Types – The High / Low , On Demand , One Touch , Range
♦ A Guide on how to set the bets and proceed forward
♦ An Asset Index with Definitions
♦ A Technical and Fundamental Analysis
♦ A Glossary
♦ Bonus and Promotion Policy
♦ An Articles section …and I will get back to that in the end of the post
♦ A Practising Trading Module that you can trade for free with fake money using a demo account….Superb…
I have never seen any website offering that kind of information in my previous reviews.And the demo account practising set the level too high.
Opteck Demo Account
I jumped in , excited to test the Opteck Trading System.My account was set to $10,000….So great … 10 fake grant to play the game.Yeah , it feels so awesome when you play and do not lose anything at all.I begun with the strategy plan of David in my mind.I have set the currency pair to EUR /USD , time to 1 minute and gone against the suggestion of the brokers.I won , lost , won , lost , lost , won and lost.Finally I lost 200 iconic dollars.
Mmmmm , may be I had to do that again.
My second set started obviously with a better understanding of how this system works.But yet gain David’s system was faulty , I was running against the trends and I was losing.I was somewhere in $9700.Then I suddenly changed my plan and started following the odds.I was going with the stream of the majority of traders.Finally in a game that lasted 15 minutes I was winning $50….Yeah $10050 in total.But I was playing against David and the Euro Millionaire System suggestions , remember this was a fake , demo game.
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So , Are We Gonna Achieve Full Financial Freedom Without Any Experience as The Euro Millionaire System Claims?
The Opteck Real Trading Accounts
♦ Bronze Account – $500 – $999
♦ Silver (Best Value) – $1000 – $4999
♦ Gold – $5000 – $999
I never expected to pay $500 as a starting price , way too much to lose.I tried to reach the live support chat system.In just a minute someone answered me.The place was alive.He explained that there was one additional option , the Green account , which I could not find.I refreshed the page 2 times and I finally found it.The problem was probably on my browser due to overload.
♦ Green – $250 – $499
Every account consists with different levels of education , support and material.
♦ Platinum – $10000 – $24999
♦ Black – $25000 – $50000
I could never risk $250 just to get started.From the Demo Account practising I found out that the least possible bet is set to $25 and not $20 as David in the Euro Millionaire System website referred.That means I would have only 10 bets to place.Just 15 or 20 minutes playing with real money.It would be OK if I could use $100 (which is my maximum limit for risky bets) with a minimum bet of $2 then I would have played.But the pricing system of Opteck is way too expensive.
The Articles Section I Promised To Return
There is separate section of articles inside Opteck , one of them is the Trading Strategies for Binary Options.But you have to dive a lot deeper into that in order to understand and therefore predict the Options Movements.As for every business you have to gain a very strong knowledge to become successful.That could not happen without any experience as the Euro Millionaire System claims.
Of course Opteck is providing a lot of information but you would need to lucre experience and keep on practising every day.You have to put your hands in the “Dirt” and to consistently absorb information about the Binary Options.Do not expect just to follow David’s plan and to make money every day.In my Demo practise I followed his rules and I lost.
Is Binary Options Gambling?
As Opteck’s article states there are several similarities between Gambling and the Binary Options.The gambling includes poker games , sporting bets and the casino fixed odds games.All these games are designed in order to take money away from their owners.From my experience into sporting bets I can really assure you that these bets are structured in order for you to lose money.
While I have won many many times I have lost many more.From the beginning of my playing I had set a maximum bet of $5 for every day that I would be participating in those systems.There were times that I was playing almost every day and that is the worst thing you can do.Gambling every day will definitely brake you down.These systems count on that.
But I learned , I stopped betting every day and I saw dramatic changes.I was betting once in a week following my golden rule of maximum $5 and I had been more successful than ever.But I never made “THE MONEY”…Do not expect to make money from these games.Just have in mind to play once in a while (Like in a weekly basis) and to gamble the money you can really afford.Do not expect to gain financial freedom.
Marked and Fundamental Difference between Binary Options and Betting
According to Opteck’s article when Gambling the edge is always against you….I agree…..Opteck continues – With Binary Options Trading you know what the odds are and you can raise your predicting knowledge and capability with higher awareness in the market trends
…..Yes I agree with that too but you have to become a very experienced trader in order to forecast or predict the Stocks movements.Do not expect that to happen overnight by reading one simple e-book.You will need a ton of high level education and in no case that would mean you are going to reach success.Because these systems are designed in the same principles as the sports or casino bets.
The Greek Stock Exhange
Let me make a parenthesis here that could be proved valuable to you.When I was attending the last year’s lessons at the national University in Greece everybody were trading in the stock exchange.My father , a bunch of his partners , relatives and friends and one friend of mine who had invested a lot of hard work and money to build a business as a trader for himself and offering services for other people.The market was doing great , everyone was winning.Our professors were predicting high end profits for anyone involved in this market.…But how can everyone be profitable…?…If they all win money who is losing them.?..
During the next years every businessman , every worker , every salesman was participating in the trade of “Shares” and “Stocks”.In every small village there were offices to “Buy” and “Sell” these shares.I was watching this kind of madness wondering how can that happen.My father and his partners were making profits every single day buying and selling shares.A major part of the greek community believed that they had solved the financial problem of their lives , once and for all.
The Fall in 1999 – Fake Companies
During the year of 1999 somewhere at the end of September begun a continuous fall of all the market shares prices.The majority of the shares that were imported in the Stock Exchange Market belonged to companies that had no true value or work to present , they only had one main purpose , to make their companies shares attractive for the people.”Illegal” but they had managed to import their companies into the Market.
Guess what…people holding shares of that companies faced tremendous losses in just one night.The fall continued for many years contributing to a major economic and political scandal lowering the price of all the market shares.Who was responsible.?…The government was part of the manipulation of the market.The judicature covered a lot of political liabilities following a new scandal.
One thing was only important.People lost their money , no one could sell , they had bought shares , shares that were now useless….My friend lost everything in a matter of a few months.All of his equipment was worthless , all his dreams were gone.His clients accused him for not warning them.But no one knew what it will happen…No one could predict such an economic scandal.
Similarity of the Greek Stock Exchange and The Binary Options
What the Greek stock exchange market has to do with the binary options trading system,?…From my personal experience I believe that all these systems are very common.Binary Options Trading is a universal system but it has to do with Stocks , Forex , Commodities , Indices and other assets.There is a high risk involved in such businesses.Moreover you have to be a real expert in order to predict the movements of the stocks all the time in order to gain profit.
The Risk Disclosure Statement inside Opteck
♦ Trading is very speculative and risky.It’s not suitable for all investors but only for those who
a) understand and are willing to assume the risks
b) are experienced in trading derivatives and underlying asset types
c) can afford such economic losses in excess of margin or deposits.
Binary Options are not essential investments for retirement funds.Are among the riskiest types of investments and can result in huge losses.If you agree with these guidelines you may proceed.
As you can see Opteck website clearly states how difficult and risky is such an investment.
Final Opinion – Conclusion
- Undoubtedly the Euro Millionaire System website is just a landing page in order for you to sign in with the Opteck Broker.It is an affiliate landing page website which gets paid when you begin trading with Opteck.It is definitely not a scam.Although there are some claims about the easiness of the trading stocks in Opteck
- David Williams has developed a strategic plan , that in my case did not work at all but he had clarified that there is high risk involved and that you should always trade in very short terms , highlighting the fact that this system will “suck” your money if you continue on trading all day long.
- Do not forget that David is proposing $100 as your maximum bet and only for once in a day.Considering all that you can not expect Huge Profits , expect days of total Loss , some days of Wins and you can make the Math from now on.
I am not a fan of risky investments.Not of this kind where you have to predict economic movements and that you do not have any power on their progress whatsoever.That is why I never got involved in the Stock Exchange or any other Stock markets.
The only bets I place from time to time is $5 bets in sports which I enjoy and I have the ability to lose them.I am not getting poor and I know that the possibilities are with the designers of these systems.Casinos , sports betting , stocks , shares , binary options are all high risk investments.No one can predict the future.
Although Binary Options is not exactly like Betting or Gambling definitely is not a favourite option of investment for me.It requires high level experience and knowledge and the risks not worth my time.It additionally requires Luck and I do not want my business to lean on Luck.
There are millions of people that destroyed their lives and lost their fortunes in these systems.If you begin on trading and face losses the system is designed in such emotional way that you won’t be able to stop.You risk of becoming a madman and lose everything you have.My advice is to stay away from these systems or to use them at the lowest risk possible.Do not ever bet money you can not afford to lose.
The final decision is yours.
Do not Forget to Check my Top Recommended Method for Building your Own Legal and Risk – Free Business on the Web
Thank you for your trust and I am here to answer all question or queries that you might have,Do not hesitate to contact me or to share your own experience with such systems.Till my next review