Warning about Binary Options - Page 3
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  1. #21
    Join Date
    Nov 2012
    Posts
    19
    I gave it a shot and now I get junk emails from brokers and agents all the time. I think it would take some real luck (unless there's a golden strategy) to make money with this kind of option trading. Without strategy or luck...its kind of a 50 -50 gamble...except that on average you're expected to make a loss.

  2. #22
    Join Date
    Nov 2012
    Location
    United Kingdom
    Posts
    22
    Why is it that binary options are given such a hard time? Have a search on these forums and you will find hundreds of similar posts where traders are condemning Forex brokers, spread-betting companies etc to hand for manipulating price feeds, closing candles early etc. I can also assure you that market makers in shares are also discredited by many for their price manipulation, particularly on smaller markets such as AIM (UK).

    So why do binary brokers get such a hard time?

    Well maybe the manipulation is a bit more 'obvious' due to the short lengths of the contracts and the expectations of the punter. It certainly happens, of that there can be no doubt I am just surprised that people are 'surprised' that it happens. Heck the whole current banking crisis is the result of people not playing by the rule book. The regulators failed to sort out that one so does anyone really think that they are going to do a good turn at regulating the binary industry!?!?!

    The thoughts of making $$$$$$$$$$$ from trading binaries is just not going to happen. Read the small print and look at the maximum contract sizes you are allowed to trade. Most brokers won't let you trade anything over $1-2k per contract (I think 24option have raised there limits far higher) and if you start winning at these levels then you will soon see your account closed down. Quite simply there are not that many brokers that have the 'money' in the bank to fund such winnings and given that most people trade tiny amounts you will stand out like a sore thumb.

    You can however make money but you have to be sensible. Keep under the radar, spread your risk between brokers and trade only small amounts. Oh and avoid 60 second contracts. If they turn on the spreads you will get killed.

  3. #23
    Join Date
    Sep 2010
    Location
    Trades are like buses, there is always another one around the corner
    Posts
    2,294
    Simple answer, you don't get the correct odd's. I use the term odd's as it's gambling which is why in the UK they are regulated by the gambling authority, while trading margined FX is regulated by the Financial Services Authority.

    If your smart you can place the same binary option trade on a margined FX account and get a better RR

  4. #24
    Join Date
    Nov 2012
    Posts
    19
    Agree completely with Jezzode...the odd's just aren't in one's favor with this kind of trading.

  5. #25
    Join Date
    Nov 2012
    Posts
    19
    In fact I think this video explains why binary option trading, without a strategy, isn't worthwhile...though the math is a little involved.
    www.youtube.com/watch?v=IZgEvNuJtGc

  6. #26
    Join Date
    Jan 2013
    Posts
    3

    Thumbs up My strategy for binary option

    Quote Originally Posted by supersaiyan1111 View Post
    Agree completely with Jezzode...the odd's just aren't in one's favor with this kind of trading.
    I 'm currently trying bin.opt. and I made $1285 profit last week (my 1st week). I use a demo fxcm with live streaming chart with macd and fib. to pinpoint the probable direction of a currency pair with about 75% accuracy. Also, I only strike and go short or long at support and resistance levels (very important). Need to be patient and wait when the trend comes into your territory. Like everything else in life, you can win if you have a strategy.
    Of course, I know the dealer plays little tricks. At times, the screen would freeze suddenly upon placing a trade, and time would work against me, and I loose that trade. Sometimes, the system would place my bid a bit lower or higher whenever he decides to.
    I'm just practicing some of the lessons learned from this site. Other people may be more successful at cracking that B.O mystery

  7. #27
    Join Date
    Feb 2013
    Location
    Clifton
    Posts
    3
    Quote Originally Posted by alucko33 View Post
    I 'm currently trying bin.opt. and I made $1285 profit last week (my 1st week). I use a demo fxcm with live streaming chart with macd and fib. to pinpoint the probable direction of a currency pair with about 75% accuracy. Also, I only strike and go short or long at support and resistance levels (very important). Need to be patient and wait when the trend comes into your territory. Like everything else in life, you can win if you have a strategy.
    Of course, I know the dealer plays little tricks. At times, the screen would freeze suddenly upon placing a trade, and time would work against me, and I loose that trade. Sometimes, the system would place my bid a bit lower or higher whenever he decides to.
    I'm just practicing some of the lessons learned from this site. Other people may be more successful at cracking that B.O mystery


    How man, how. I have lost $4000 in past 7 months. I always put my money in currencies and commodities. How you made profits? Who is your trader man?

  8. #28
    Join Date
    Feb 2013
    Posts
    1
    Quote Originally Posted by JohnCA;284281

    I have also scalping experience, so I could occasionally "predict" the movements of a few assets (usually FX Pairs) correctly with the help of Technical Analysis. But remember, as my profit was a lost for the broker, soon the manipulation started. The options expired with a delay, so that an profitable trade became a losing one. Its funny how every delay made my previously profitable trade into a loser. I wrote to them and got no answer. I called, but was put on hold and didn't get any support at all. My profits were gone due to the manipulation trades.

    So I decided to withdraw the left money, which took horribly long. I already gave up, as I couldn't get any helpful answer from the "Customer Support" (a huge joke, I think the guys sitting their have no clue about options). In the end I got my money, it wasn't a huge amount, so I wasn't freaking out about the long time waiting. But imagine waiting weeks to get a larger amount of money back, which you need. I was lucky that I opened my account with a small amount of money.

    This is my experience with binary options. I haven't try the other BO brokers, but please people, [B
    be aware as the BO brokers are not regulated. If you are too profitable, they easily could take your profit. You can't sue them, nobody will help you.[/B]
    I've just started to look into this as well (have been trading spot for about 3 years) and from what I have seen the possibility of manipulation is there from any broker who's charts / data does not go straight to market. There are many brokers out there who trade in house and therefore have a vested interest in helping you give them money. it's worth doing the research on the brokers who place your trades straight to market which eliminates manipulation

    Mick

  9. #29
    Join Date
    Sep 2012
    Posts
    10
    Dear John

    I have had soo much problem with my binary options account not only did they take my trades and gave loosing signals to the winning ones but they also took money from my credit card without my permission. When I called my broker he said he hit the wrong button and the money was deducted from my account....WELL....when I tried to get my US$6,000 back they then sent me an email requesting for verification docs as they didn't have any.... so I sent everything.... then they said they couldn't read the last digits of my card. I then asked if my doc are not verified how come you can take money from me but can't give me back money???? I think I will now try and close my account this should be fun as I'm sure they will have all kinds of excuses.....anyway I had enough of their fraudulent ways and I'm going to complain big time....they have gone too far this time.....are there no laws regulating them !!!!!!

  10. #30
    Join Date
    Jan 2013
    Posts
    3
    Another way I beat BO. I place up trades going long early in the day for nasdaq, and the s&p right at the bell when the market opens. They usually goes up. But, I confirm my position going up or down using linear regression curve or cci. Winning some losing some, I usually end up with at least 3 more wins (than losses) within the early hours @$100/$150 each. Then, I have fun with forex late afternoon or during the evening hours after leaving my job. I will not give you any broker's name because I don't want to support any bin. option dealer. There is a guy who sells a good forex software over the net. He also gives it away for free but without documentation and support. His method is to study each currency separately to learn their dynamics before you choosing which one to pair and successfully guess their direction. Some people do well in bin. options using his method. Again, I don't want to tell any body' name because I'm still researching the best way to beat bin. options and I'm no expert

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