Yep, it was a silly mistake.
Like knocking over a hot cup of coffee. All you can do is lick your finger where you got burned, clean up the mess, and put it behind you. I wanted to share it with you as a precautionary so that maybe you won’t make the same silly mistake that I made.
It happened the day I finally decided to fund a trading account through BINARY OPTION ROBOT(tm). Tradorax was having an off day. So I could not get my deposit to clear through their automated system. It kept advising me to call customer support. I opened a live chat session, and they gave me the same song and dance.
So I finally I resigned myself to the fact that I would need to call customer support. After I dialed the number, I minimized my chat session and the robot, and began multitasking (Yeah, I started reading my Facebook wall). I have no complaints with the way customer support handled my issue. There were able to quickly resolve the matter, and my deposit placed over the phone went into the account instantly while I was still talking to them. I Alt + Tabbed over to the Robot and saw that it went it, and then switched back to Facebook while I made my exit in the conversation. All was well.
This was my initial deposit, so I simply placed the minimum $250. I had not yet activated the Pro version of the Robot. I had recently received an email promotion letting me know that I was eligible for a free upgrade to the Pro version as soon as I made my first minimum deposit with a brokerage account that I opened through the robot. All I had to do was reply to the email and they would send me the activation code.
I had no intentions on trading with the Robot until I upgraded to the Pro version, because the only signal criteria that is available on the free version is “trend.” Trend is too weak of an indicator unless paired with something stronger. It’s not much better than my days of following gut instinct and investing like I’m pulling the handle at a slot machine in Vegas. If you Robot trade using trend alone, you will lose. So, what I was about to do is…
Then, I got interrupted. A friend knocked on my office door, and I invited him in to talk. I shut the lid to my laptop. I hadn’t seen him in a while, so we quickly fell into conversation. Then, I heard a notification on the computer. I realized that I’d never closed down the live chat session on the webpage that I minimized. They must be following up now that I my issue was resolved. I ignored the notification and went back to my conversation.
Midway through the next sentence, I heard the notification again. Well, that customer service rep is being persistent. He must have asked me if asked if I needed help with anything else. Ignoring it for the second time, I resumed my conversation. But By the third and forth time, I began to get suspicious. “Hold on a minute, I have to check something,” I said to my friend as I eased the lid of my laptop open. Now, what does my chat window say? Oh, there it is: Session ended.
With a confused look on my face and the fresh ring of yet another notification in my ears, I finally realized what was happening. I flipped up the Robot program and realized that I was auto-trading away. With nothing by an unreliable trend signal, my hard earn dollars were getting flushed away. With every notification, the handle to the slot machine went swoosh, and I had yet to see anything come up Lucky 7’s.
What had happened is I had checked the box that says “Auto Trade” on the robot before initiating the deposit. As soon as the money hit the account, no other permission was needed for the Robot to begin pulling the trigger.
The Lesson Learned: Be careful. NEVER check the “Auto Trade” box until you are ready without interruption to monitor the Robot’s trading activity. And when you do, DON’T FORGET TO LOCK THE OFFICE DOOR!