Binary Options profit percentage?

Hello, I wanted to get into the Forex side of Binary Options for the sake of simplicity due to limited free time available to me despite my interest in trading.

Anyways, to anyone who has or currently is trading Binary Options, what is your average monthly profit percentage?

I am aware that there is no guarantee of this amount per month, every month but I would like a nice realistic avg to shoot for. Is 10-20% a decent profit or unrealistic?

May be binary trading looks simple, but it is not that simple as it looks. Truly enough you only need to pick the asset, time frame, the direction and the money you want to invest, but still you need consistent working strategy if you want to have some profits, otherwise you will loose your money very quick. When it comes to profits % I would say that every profit can be decent profit and once again everything depend on the strategy. If it’s good one you can make even higher profits than 10-20%.

My advice would be to stay away from binary options. Not only is it very shady in the way the brokers work but it is also harder because you have to be correct in predicting direction of price as well as the exact time that it will move, e.g. within the next 5 mins you expect price to be lower.

To make it even harder, you will always have a negative reward compared to risk. e.g if you bet $100, you will win $90 if you are correct. If you lose, you lose $100. You will never have positive risk to reward which means you must have a very high percentage win rate consistently.

While binary trading may look simplistic, it may be harder to turn a profit than with forex due to the negative risk/reward mentioned above. Does that make it impossible? No, those who know how to trade this particular asset class, just like ant other instrument you can trade, will turn a profit. I would shoot for as much as possible when it comes to % and see where your strategy lands you. Once you have placed 10,000 trades you will have a much better idea.

I understand that the negative risk to reward factor is a disadvantage and that there are plenty of shady brokers, but there are some decent and professional ones as well. Forex also has its fajr share of scams and deception.

When I mean simple I meant in reference to the software, a sort of trade and forget type where I dont need to worry about where or when I close out and that my maximum loss is set in stone. When I tried trading forex I found that I closed too early or too late and that I didnt always have time to check on how a trade is progressing.

I base my trades off of a forex trader mentality so my analysis is the same, the method of executing and closing my trade is just different and suits my time frame a bit better.(I dont have a lot of free time so thankfully it closes itself within the day)

I dont plan on making millions in a week, a month, or a year but I am willing to put the work in for some cash on the side or even eventually a livable income.