Binary forex dealing
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  1. #1
    Join Date
    Nov 2016
    Posts
    3

    Question Binary forex dealing

    Started at the weekend with option 24 I've traded 17 times on a 60 second prediction and been successful 11 times but my money is only up by about £29 can anyone help me progress ???

  2. #2
    Join Date
    Jul 2013
    Posts
    2,540
    This would be the place to ask.

    A good starting-point might be to read the long thread called "Binary Options: Beware". Don't be put off by its length or its starting-date (it was updated as recently as yesterday).

    Here's the "key concept", very briefly: binary options really compare very badly with spot forex trading in general (especially for relatively inexperienced traders) because quite apart from having the same learning-curve as anything else, there's a very considerable additional "house edge" to overcome, with binary options - so the overall odds of success really are that much worse. It seems to me to be a way of stacking the deck against yourself, in a field of activity in which only a tiny proportion of aspirants ever becomes successful.

    Very few successful members of this (or any other) trading forum would really advise you to start out this way, I think.

    Apologies indeed for greeting you by saying something I'm sure you didn't want to hear, and welcome to the forum.

  3. #3
    Join Date
    Nov 2016
    Posts
    3
    So who would you suggest I should go through as I'm following the realtime on trade view.com with the bollinger bands and the MACD line and am earning a little but it doesn't seem to be an exact science I feel as I'm new it's more by luck than judgement. I want to seriously look in to this but don't want the odds stacked against me! Can you point me in the right direction please. I run my own business and am very successful but wanted to learn something else!! Thanks

  4. #4
    Join Date
    Jul 2013
    Posts
    2,540
    I'm not familiar with tradeview.com, and shouldn't comment about that at all - sorry.

    This is a highly recommended starting-place for forex-trading: School of Pipsology | Learn Forex Trading

    This post might help/interest you, too (and there's another link inside it): http://forums.babypips.com/newbie-is...tml#post788082

    Honestly, I'm sorry to start off, as your first contact here, by saying effectively "don't do that", as soon as you've commented on what you're doing, but I really do think it's fair to say that no successful traders would advise anyone to start with binary options.

    The forum is a mine of useful information, for people getting started. I suggest you read your way through those "school" pages, and then start asking more specific questions after you're orientated. That's probably the best we can offer you. And good luck!

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