A 21-year-old trader turned ₹60,000 into ₹82 lakhs

This is an inspiring story of a young Binary option trader who turned his passion for trading into an incredible success, from borrowing money from friends and parents to making a fortune.

Hemraj Chauhan, a 21-year-old student pursuing a BSc from JNV University, began his trading journey on IQ Options trading platform. While many of his peers were busy playing games like ludo, Hemraj was searching for ways to earn money online. It was during this search that he came across a video about Binary Trading, which sparked his journey to become a successful Binary options trader.

After watching numerous YouTube videos about trading, he opened an account in the IQ Option platform and deposited Rs 2-3 thousand, but unfortunately lost it to the market. Later, he borrowed Rs. 20-25 thousand from his friends. Though some of his trades might have succeeded, by the end of three months, he had lost around Rs. 30,000.

Without losing hope, he convinced his parents to lend him Rs.15000 and used this amount to trade. Unfortunately, he lost this capital in 10 days. Somehow he convinced his parent to lend him money for the second time and this time he increased it to 50 thousand within two months.  

However, he attributes his success not to his skill but to luck. The first thing he did after making profits was to return the money he had borrowed from his friends.

He continued his trading journey with the remaining capital he had, but unfortunately, he lost it all again within a month.

Rather than losing hope and quitting the market, Hemraj sought guidance from YouTube and trading groups. After his losses, he spent the next year working hard to improve his skills before diving back into his journey as a Binary options trader.

In the first year after he started again, Hemraj made a profit of Rs 3.69 lakhs. Then, in the second year, he earned Rs. 11.80 lakhs. But the real breakthrough came in the year 2020-21 when he made a huge profit of Rs. 66.75 lakhs, starting with just Rs. 60 thousand.

Hemraj achieved a significant milestone as a Binary options trader.

His main challenge at the start wasn't making money but rather keeping what he earned and avoiding over-trading. He dealt with this by sticking to strict rules and using a 'kill switch strategy' during his trading sessions.

In his daily routine, he spends hours watching Candlestick Charts without any indicators. He does this to understand how prices move in different time frames. 

He believes that beginners need to focus on discipline and understanding human psychology in trading, rather than just using trading strategies. He also emphasized that without the right mindset and discipline, none of the methods will be effective for making profits.

He stressed the importance of building a strong understanding of price action instead of just focusing on making money at the beginning of trading. He thinks this is really important for doing well in the long run.

Hemraj’s story of hard work, persistence, and unwavering hope is an example to new market traders. You can Watch his trading videos here –  YOUTUBE CHANNEL